RBI Grade B 2023 ESI & FM Answer Key FREE E-Book

RBI Grade B 2023 ESI & FM Answer Key

(Phase 2 Descriptive Questions)
ESI Descriptive
15 Markers
Q.1) In the light of RBI’s report on currency and finance FY 2022-23, explain
• Macroeconomic effect of climate change
• 3 landmark global collaborations on climate change

Q.2) World Bank has released its World Development Report 2023: Migrants, Refugees and
Societies. Discuss key recommendations for the countries given in the report.

Q.3) UNDP's new strategy for Gender Equality was mentioned in UNDP’s report. Taking
reference from this report, how can we introduce gender sensitization in the fabric of the
Indian economy.

10 Markers

Q.1) Explain any 3 schemes of the government of India working towards employment
generation and poverty alleviation.

Q.2) Direct and indirect monetary policy measures and briefly explain at least 8 of them.

Q.3) What are the various challenges faced by start-ups in tier 2 and tier 3 cities?

FM Descriptive
15 Markers

Q.1) Explain in detail, RBI’s Retail Direct Scheme including the scope, applicability, charges,
fees, etc.

Q.2) Explain the Big 5 Personality Model of Personality. Also, explain how other traits of
personality affect Organisation Behaviour.

Q.3) What was Henry Fayol’s contribution to Management? Also, talk about his 14 –
Principles of Management.

10 Markers

Q.1) What is a Code of Conduct? How is it implemented in the organization?

Q.2) Describe ONDC. How will it impact companies like Amazon, Flipkart, Walmart, etc?

Q.3) What are Pre-Sanctioned Credit Lines at Banks through the UPI? How is it going to help
in furthering Financial Inclusion?
RBI Grade B 2023 ESI & FM Answer Key FREE E-Book

RBI Grade B 2023 ESI & FM Answer Key

(Phase 2 Descriptive Questions)
English Descriptive
Q.1) Write an essay on one of the following topics in about 600 words (40 Marks)

• There is an immense need of multi-linguistic social media account for businesses

• Economic Impacts of climate change on developing countries
• What is social media recruitment? What are its advantages and disadvantages
• In every organization, especially in this modern day and age, employees focus on
personal value and purpose in the organizations. Suggest ways/measures for
organizational culture in this regard.

Q.2) Read the following passage and write a precis in about 200 words (30 Marks)

Gender equality has been a critical issue throughout human history, with progress made in
various spheres, but still, disparities persist in many areas. In the digital age, Artificial
Intelligence (AI) has emerged as a transformative force, shaping economies, industries, and
societies. However, as AI becomes increasingly prevalent in our lives, it also has the
potential to reinforce existing gender biases or pave the way for more inclusive and
equitable societies. This passage delves into the intricate relationship between gender
equality and AI, exploring its implications, challenges, and opportunities to create a
balanced future for all.
AI algorithms are trained on vast amounts of data, which, unfortunately, can perpetuate
gender biases present in society. For instance, if historical hiring data demonstrates a bias
toward male candidates, AI-driven recruitment systems might unknowingly perpetuate the
disparity. These biases not only affect opportunities but can also reinforce harmful
stereotypes, leading to discriminatory practices.
To combat such issues, AI developers and researchers must proactively address gender
biases by ensuring diverse representation in data collection and the development process.
Moreover, transparency and ethical guidelines should govern AI systems, holding them
accountable for perpetuating discrimination.
On the other hand, AI also presents numerous opportunities to foster gender equality. One
significant area is education. AI-powered personalized learning platforms can cater to
individual needs, encouraging girls and women to explore fields traditionally dominated by
men, such as science, technology, engineering, and mathematics (STEM). Additionally, AI-
driven mentorship programs can connect women with successful role models, empowering
them to break through barriers and achieve their aspirations.
In the workplace, AI can help to close the gender pay gap by analyzing salary data and
identifying discrepancies. Furthermore, AI-driven solutions can enable flexible work
arrangements, accommodating caregiving responsibilities, and promoting work-life balance
for all genders.
Despite the potential benefits, integrating AI for gender equality faces several challenges.
One major concern is the lack of diversity in the tech industry. Gender disparities within AI
development teams can lead to the creation of biased algorithms, inadvertently
perpetuating existing inequalities.
RBI Grade B 2023 ESI & FM Answer Key FREE E-Book

RBI Grade B 2023 ESI & FM Answer Key

(Phase 2 Descriptive Questions)
Another challenge lies in the design of AI technologies. As the majority of AI developers are
male, they may overlook the unique needs and experiences of women in designing AI
applications. This highlights the need for a gender-inclusive approach in AI development to
ensure the technology caters to the diverse needs of all users.
The ethical implications of AI for gender equality are multi-faceted. Privacy concerns arise
with the collection of extensive personal data for training AI algorithms. If this data is
mishandled, it can lead to intrusive surveillance and the potential for misuse, especially
concerning sensitive gender-related information.
Moreover, AI can facilitate deepfake technology, which has been used to generate explicit
content without consent, disproportionately affecting women. Mitigating such risks
necessitates robust data protection laws and AI systems that can detect and prevent the
spread of harmful content.
Gender-based violence is a pervasive issue that affects women worldwide. AI can play a
crucial role in preventing and addressing gender-based violence by analyzing patterns,
predicting risks, and providing support services. AI-driven chatbots, for instance, can offer
confidential assistance and resources to survivors, ensuring immediate access to help.
However, there are concerns regarding the use of AI in monitoring and surveillance, which
could further restrict the freedom and privacy of individuals, particularly in oppressive
regimes. Striking a balance between using AI as a tool for support and avoiding its misuse as
a means of control becomes imperative.
To harness the potential of AI for gender equality, a robust framework of policies and
regulations must be established. Governments and organizations must collaborate to create
AI-specific guidelines that ensure transparency, fairness, and accountability in the
development and deployment of AI technologies.
To achieve gender equality in the AI domain, it is essential to encourage more women to
participate in AI research, development, and leadership roles. Addressing the gender gap in
the tech industry begins with promoting early education in STEM subjects for girls and
offering mentorship programs that nurture their interest in technology.
Additionally, supporting women-led AI initiatives and providing funding opportunities can
bolster the representation of women in AI development. Diversity in AI teams can lead to
more inclusive and unbiased technologies that cater to the needs of all genders.
AI has the potential to inform and influence policies that promote gender equality.
Policymakers should leverage AI-generated insights to understand the nuanced challenges
faced by different genders and tailor policies accordingly. For instance, AI can help analyze
the impact of policies related to pay equity, parental leave, and gender representation on
boards and in leadership positions.
However, policymakers must be cautious of AI's limitations and potential biases. Human
oversight and thorough evaluations of AI-generated insights are necessary to ensure that
policies truly foster inclusivity and do not perpetuate existing disparities.
Healthcare is another domain where AI can contribute significantly to gender equality.
Women's health concerns have historically received less attention, with medical research
often being biased toward male bodies. AI can analyze vast amounts of medical data,
accounting for gender-specific differences and leading to better healthcare outcomes for all
genders.
RBI Grade B 2023 ESI & FM Answer Key FREE E-Book

RBI Grade B 2023 ESI & FM Answer Key

(Phase 2 Descriptive Questions)
Furthermore, AI-driven telemedicine and remote healthcare services can benefit women in
rural areas or those with limited access to healthcare facilities. Ensuring AI algorithms are
trained on diverse data sets that represent the entire population is crucial to avoid
perpetuating gender disparities in healthcare.
The digital gender divide remains a pressing issue, with women in many regions having
limited access to technology and the internet. Bridging this gap is essential as AI and other
emerging technologies become increasingly integrated into daily life.
Initiatives focusing on digital literacy and technology training for women can empower them
with the necessary skills to navigate the digital landscape effectively. Moreover, promoting
affordable and accessible technology infrastructure can ensure that women, especially
those in marginalized communities, have equal opportunities to participate in the digital
economy.
The future of AI and gender equality is inextricably linked to the actions taken today. While
AI offers promising solutions, it is not a panacea for gender disparities. Striking a balance
between embracing AI's potential and safeguarding against potential pitfalls is crucial.
To achieve gender equality in the AI era, collaboration between governments, tech
companies, civil society, and academia is paramount. Developing and adhering to
comprehensive AI ethics frameworks that prioritize transparency, fairness, and
accountability will be instrumental in mitigating biases and promoting inclusivity.
Gender equality and AI are intertwined on multiple levels, with the potential for AI to either
reinforce existing disparities or act as a catalyst for positive change. By addressing gender
biases in AI algorithms, promoting diversity in AI development teams, and integrating ethical
considerations, we can harness the transformative power of AI to create a more equitable
and inclusive future for all genders.
Embracing AI's potential for personalized education, closing the gender pay gap, and
addressing gender-based violence can significantly contribute to a more balanced society.
However, it is crucial to navigate the ethical challenges associated with AI deployment,
safeguarding privacy, and avoiding harmful applications.
As we progress into an increasingly AI-driven world, a commitment to gender equality must
remain at the forefront of technological advancements. By working together and embracing
an inclusive approach to AI development, we can shape a future that upholds the principles
of gender equality and social justice for generations to come.

Q.3) Read the following comprehension and answer the questions that follow. (30 Marks)

Inflation, the persistent rise in prices of goods and services, is a complex economic
phenomenon that can have far-reaching implications for individuals, businesses, and
economies. In this passage, we will explore the author's views on the increasing prices by
corporations when supply falls short, their sympathy towards the ECB president, and their
perspective on the primary cause of inflation and the role of greedflation as a secondary
factor.
The author acknowledges that corporations may resort to increasing prices when the supply
of goods falls short due to various factors such as disruptions in the supply chain, increased
demand, or scarcity of resources. However, the author believes that such price hikes should
RBI Grade B 2023 ESI & FM Answer Key FREE E-Book

RBI Grade B 2023 ESI & FM Answer Key

(Phase 2 Descriptive Questions)
be approached with caution. While it is understandable that companies may face higher
production costs during periods of supply shortages, the indiscriminate and excessive raising
of prices can lead to negative consequences for consumers, particularly those with limited
financial means.
The author emphasizes that corporations have a responsibility to strike a balance between
maintaining profitability and ensuring affordability for consumers. A strategic approach to
pricing during supply shortages can help businesses stay afloat while also safeguarding
consumer welfare. Transparency and clear communication regarding price adjustments can
help build trust between companies and their customers during challenging times.
The author's empathy towards the European Central Bank (ECB) president stems from the
challenging task of managing monetary policy in the face of inflationary pressures. Central
banks, including the ECB, play a crucial role in regulating inflation and maintaining price
stability. Inflation can be influenced by numerous factors, including changes in consumer
behavior, fiscal policies, and global economic dynamics.
The author recognizes that the ECB president faces the delicate task of striking a balance
between controlling inflation and supporting economic growth. Adopting measures to curb
inflation, such as raising interest rates, can have repercussions on borrowing costs and
investments. The challenge lies in making decisions that promote economic stability without
stifling growth or exacerbating unemployment.
The primary cause of inflation, according to the author, is the increase in the overall money
supply in the economy. When the money supply grows faster than the growth rate of goods
and services, it leads to excess money chasing a limited number of goods, thus driving prices
upward.
The author believes that inflation caused by an expansionary monetary policy is a critical
concern that requires careful attention from policymakers and central banks. While some
level of inflation is necessary for a healthy economy, excessive inflation erodes the
purchasing power of money and can lead to economic instability.
The author identifies "greedflation" as a secondary cause of inflation, which refers to price
hikes driven by excessive profit-seeking behavior rather than genuine supply-demand
imbalances. Greedflation occurs when businesses exploit market conditions to maximize
profits beyond reasonable levels, often without significant justifications such as increased
production costs or scarcity.
The author views greedflation as an unethical practice that can exacerbate inflationary
pressures and harm consumers. Such behavior undermines trust in businesses and can lead
to long-term damage to corporate reputations. To counter greedflation, the author suggests
implementing stronger regulatory mechanisms and promoting fair competition in the
market. Additionally, consumer awareness and advocacy can play a crucial role in
discouraging exploitative pricing practices.
In conclusion, this passage provides insights into the author's views on three interconnected
aspects of inflation. While acknowledging the challenges faced by corporations during
supply shortages, the author calls for responsible pricing strategies that consider both
business viability and consumer welfare. The sympathy toward the ECB president reflects
the difficult decisions required to balance inflation control and economic growth.
The primary cause of inflation, as identified by the author, lies in the expansion of the
money supply relative to the growth of goods and services. This expansionary monetary
RBI Grade B 2023 ESI & FM Answer Key FREE E-Book

RBI Grade B 2023 ESI & FM Answer Key

(Phase 2 Descriptive Questions)
policy requires careful management to prevent excessive inflationary pressures.
Furthermore, the author highlights the role of greedflation as a secondary factor
contributing to inflation, emphasizing the importance of ethical business practices and
regulatory measures to safeguard consumer interests and economic stability.
Questions –

(a) What is the author’s view on corporate’s increasing prices when the supply falls short?
(b) The author sympathized with the ECB president. Why?
(c) Greedflation is the secondary cause of inflation. What is the primary cause and what are
the author’s views on this?
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