Interview Transcript (Post-Lunch Panel)
Date: unspecified
Panel Members: 6 (Chairman + 5)
Serial No: 10/14
Introduction:
• I greeted the panel, and they responded cordially.
• The Chairman introduced my profile and made a remark about my handwriting,
perhaps sarcastically, calling my hands "beautiful."
Chairman (C):
• C: Did you appear for the State Electricity Board technical job?
• Me: Yes, Sir, but I couldn't qualify for the interview.
• C: You would have been better there since it’s a core job.
• Me: True, Sir, but my interests have evolved over time.
• C: You work in State Protocol, handling financial matters. Do you find this work
interesting?
• Me: Sir, the job is not particularly interesting. My JAA post is generalist, and the
department was randomly allotted.
• C: What are the promotional aspects of this job?
• Me: [Answered in detail.]
M1:
• M1: How did you end up at RBI after 2020?
• Me: [Explained my journey from trading in 2020, shifting focus to SEBI, and then
RBI after learning it recruits engineers.]
• M1: As an electrical engineer, what should we do about global warming?
• Me: [Answered about clean energy, but felt my answer didn’t fully satisfy him.]
• M1: Which alternative energy source is best?
• Me: Solar energy is best, as it’s widely available and evolving technologically. The
government is also promoting it.
• M1: What are RBI's functions?
• Me: [Answered.]
• M1: What about currency management?
• Me: [Explained design, circulation, destruction of notes, and updating security
features.]
• M1: How can robotics help RBI?
• Me: Robotics might assist in currency management, though its relevance to RBI is
limited.
Lady Panelist (L):
• L: What have you read about RBI?
• Me: [Explained functions, initiatives like MANI, UDGAM, and DICGC (mistakenly
mentioned DICGC).]
• L: What is UDGAM?
• Me: A portal for unclaimed deposits (10+ years).
• L: Since you’ve appeared for SEBI interviews, tell me about capital markets.
• Me: Sorry, Ma’am, I couldn’t qualify the SEBI mains twice.
• L: Okay. What are the different types of financial markets?
• Me: Money market and capital market.
• L: What’s the difference?
• Me: Money market deals with securities maturing within a year; capital market
involves equity and long-term instruments like government securities (30–50 years).
• L: Who regulates these markets?
• Me: RBI regulates the money market; SEBI regulates the capital market.
• (She smiled.)
• L: How does RBI manage the forex market?
• Me: RBI intervenes during high volatility by selling dollars.
• L: Isn’t INR/USD based on market forces?
• Me: It follows a managed floating system.
• L: How are government bond prices determined?
• Me: Sorry, Ma’am, I haven’t read about this.
M2:
• M2: Which currency note was recently withdrawn?
• Me: ₹2000.
• M2: And earlier?
• Me: ₹500 and ₹1000.
• M2: Why is ₹2000 not considered demonetization like ₹500 and ₹1000?
• Me: ₹2000 is still legal tender, while ₹500 and ₹1000 lost their legal status.
• (He seemed satisfied.)
M3:
• M3: Why do we need forex reserves?
• Me: To cover the trade deficit, as we import more than we export. Reserves also help
stabilize the rupee.
• M3: How does rupee depreciation affect RBI’s balance sheet?
• Me: Depreciation leads to RBI selling forex reserves, reducing its assets.
• M3: Why are the World Bank and IMF criticizing RBI for controlling the forex
market, and what was RBI’s response?
• Me: [Explained RBI’s role in maintaining rupee stability and speculated about
WB/IMF bias towards USD. Admitted I hadn’t read RBI’s response.]
• M3: How does currency depreciation affect the economy?
• Me: Depreciation increases import costs, especially crude oil, affecting supply chains
and raising prices.
M4:
• M4: Why is Nirmala Sitharaman asking banks to reduce rates?
• Me: Lower rates spur credit growth, enabling businesses to borrow more.
• C: Lend?
• Me: Sorry, Sir. Borrow more.
• M4: She didn’t ask RBI to reduce repo rates but banks to reduce loan rates.
• C: Repo rate cuts don’t directly reduce loan rates. Do you know the mechanism?
• Me: [Explained MCLR but lost confidence.]
Closing Moments:
• Chairman asked whether I had studied a specific course. I said no, and he mentioned
they had it in their curriculum.
• I thanked the panel but forgot to thank the lady member.
• Nervously tried to exit from the wrong side, corrected myself at the last moment.
My Reflection:
Some answers were okay, but I faltered on basic conceptual questions. Communication was
below average in parts. I sensed the Chairman was disappointed or perhaps just tired. Despite
this, I maintained a polite smile and eye contact, though I occasionally looked at other
panelists awkwardly.
TL;DR: The interview felt disappointing overall, especially toward the end, but I tried to stay
composed throughout.
