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This is my first answer on Quora. It is going to be a long post and an informative one, kindly bear with me. I am sharing it here now so that it might help the future aspirants.This is my 3rd RBI Grade B- DR interview. I have taken the interview consecutively from 2017 onwards. I've taken other regulatory/supervisory bodies interview. Well, that's the story for some other day. The mains result came in the month in December 2019 and my interview was scheduled in mid-March (last day for generalist interviews). So I had ample time to prepare for my interview. Out of the 4 months, the first 2 went with the training and adjustments on my new job (NABARD), another one procrastinating, and started the focused preparation only in the last month after mid-February.A brief background about myself:Name: Shubham GoelProfile: B-Tech, CS (2015)Previous attempts: RBI Grade B 2016 appeared for mains2017, 18 missed the final merit list.Work Experience:SBI PO 2015 batch. (2015-2019)NABARD Grade A 2019 Batch. (2019- to date)Venue: New DelhiDate: 14/03/2020Duration: 24 minutesWe were allowed entry to the RBI building at 8:45 AM. The beautiful building of RBI that is meant to be admired. The Yaksha and Yakshini erected at the entrance hall possess a quality of ingenuity, prosperity, connection to place, and, above all, imagination. Soon after I entered the building I was told that I am the first candidate to be interviewed that day.When I was done with my document verification I decided to read the newspaper only to realize that nothing was going inside my head. I was called by the coordinator for the interview and asked to sit outside the interview room. Of all the RBI interviews I’ve taken, one thing remained common, my heart thumping at 130 bpm.The bell rang and I went inside the interview hall.Setup: Chairman (C); M1, M2, M3, M4, and L1 were the other 5 members sitting 2 on my left side and 3 on my right side; L1 was the only Lady member. Chairman was seated opposite me.I greeted everyone and then the interview started.Chairman (C): Where are you working currently?Me: Sir, I am working in NABARD.Chairman (C): Any work experience before joining NABARD?Me: State bank of India for 3.5 years.Chairman (C): Asked about if there is any gap? About college? About my graduation discipline?Me: ToldChairman (C): Mam (L1) will take over from here I'll intervene whenever requiredL1-You've worked in the SBI Industrial finance branch what ratios and aspects you look into while giving the loan?Me: Told about liquidity, solvency, profitability ratios. Interest coverage ratio. I told past credit History records and bank accounts to gauge any discrepancy.L1- You are missing one of the important ones?Me: I told some other ratios, she interrupted.L1- Do you remember DSCR?Me: I gave the full form of it and told it is important.L1- Why NPA has increased to such level?Me: I tried to tell from the starting 2000-2008 (I was well versed with this as it was asked in one of my previous interviews and it was very nicely mentioned in Economic Survey 2017-18).L1- Interrupted me in between and asked me to tell, referring to the current scenario?Me: I told about the slowdown, various sectors impacted (aviation, telecom, auto), twin balance sheet problem, over-leveraged business, clearance issues, red-tapism. No cross-question further.M1- Why did you leave SBI and joined NABARD?Me- (I knew this will be asked to me so I prepared it beforehand but didn’t expect so many counter-question) Told SBI is basically into the implementation of policies. Policy formulation related to agriculture and rural development is done by NABARD. It has a unique type of bank with a niche market. Impacted the lives of many people (Told about one of the successful projects by NABARD in my home district and how it has increased the livelihood opportunities for the people). Inclination towards it as I belong to the farming background. I was mentioning growth in NABARD is good suddenly Chairman Sir in denial mode barged in and said growth in SBI is immense will be able to touch lives if many people.Chairman (C)- Okay, then why NABARD to RBI then with a witty smile on his face?Me-The mandate of NABARD is agriculture and rural development which is very limited but mandatory of RBI is very wide covers the whole economy.M1- mockingly said now where did your inclination towards agriculture and rural development go? Tell us something else?Me-I told it is a career progression for me Grade A to B ( Note- Grade A denotes Assistant Manager and Grade B is Manager Post). He acknowledged and said yes career progression is important.M1- Have you read the IWG ( Internal working group) committee report on agriculture credit by MK Jain?Me- Yes. ( I’ve read this report thoroughly and prepared notes on this report. The EverNote link is attached which I made before the interview)https://www.evernote.com/l/ATNdjNm6GUZFr7qym2K-chILTytjUiGMIks/M1-Tell about the report?Me-Told from the starting.M1-Asked about recommendations?Me-Told 7-8 to perfection.M1-Have they recommended any change in PSL ( Priority sector lending) targets?Me-Yes. SMF(Small and marginal farmers) from 8% to 10%.M1-Something else about PSL?Me- FPOs( Farmer producer organization) with 75% SMF and credit up to 50 lakhs must be counted under PSL. (He looked satisfied).M1- You are missing one of the critical recommendations?Me: I thought for a while finally said sorry sir can’t recall.M1- Does the report mention anything about land reforms?Me: Told about model land leasing act and an act currently in Andhra Pradesh(land license cultivators act). Tenant farmers unable to avail credit. These might help. (He looked satisfied).M1- Has RRBs lost their existence? (This was asked as I mentioned RRB, in one of the points when we were discussing the IWG report)Me-Told financial inclusion was their main purpose. (Many counter questions, in the end, I felt they cornered me as I was indecisive about the relevance of RRBs)M1-Issues faced by RRB?Me- Technology, competition from SFBs, and commercial banks.M1-biggest liability for RRB?Me- told NPA. (Though I knew that NPA name itself suggest it as an asset but nothing else was coming to my mind)M1- Tell us something else?Me-I can't recall.Ans was Pension I acknowledged.M2-Difference between banks and NBFC?Me-Told (The same question was asked in my 2017 interview)M2- Follow up questions were, Who provide Deposit insurance? Also, mention the amount?Me-Told ( As the changes were made in the 2020 budget after the PMC crisis)One tough question then.M2-Why export invoicing is not done in rupees? (As I was in Forex department in my previous job)Me-Told rupee is not acceptable globally.M2-Asked why?Me-I told about 5 reserve currencies (USD, Pound, Euro, yen, yuan) India's export share to global export is less than 2%.India is a developing country Low GDP.No cross-questions then. (Don't know he was satisfied or not couldn’t gauge from his reactions)M2- Asked about NDS?Me- Sorry sir I couldn't recall.M3- Can blockchain help the tenant farmers.?Me-I told projects have been implemented in the state of AP and Telangana. Land records and land consolidation could be done. (He looked extremely satisfied).M3-Again a question on RRB. Why RRB's were formed? (As I mentioned in the timeline mentioned as per MK Jain report)Me-I told for financial inclusion. Less than 1% of farmers were under formal banking during the 1970s. To provide credit to weaker sections, Agri and MSME.M3- Asked what more?Me-I told somewhat but he was not satisfied.He told the employment factor. Local sourcing of people and salaries we give to the locals are less. So a bank branch working at a very low cost. ( I would not be able to guess this in eternity)M4-Risks with banking?Me-Told LIMCO. ( Liquidity, Market, Credit, operational risks)M4-Difference between country risk and sovereign risk.?Me-ToldM4-Asked if you've worked in the retail sector?Me-yes.M4-How do you finance a home loan?Me-ToldM4-Risks associated with home loan.?Me- Again told credit risk. He then asked me to tell something else, something specific.Me- If we go at the macro level. Liquidity risk. (Short term borrowing to long term finance)M4-Not satisfied. He said you're missing a very important thing?Me- I said sir can I get a hint.M4- Smiled.Me- Asked me to go.As I was getting up. Chairman sir stopped me.Chairman(C)- We've gauged your knowledge on various aspects. Now I would like to have your opinion on public finance. Should we be rigid on FRBM targets?Me-Told many sectors are under stress. Public spending is required. We should forgo FRBM targets because it's not a normal situation. Already escape Clause has been executed. 3.3 to 3.8% in the budget of 2020. ( At that time Covid-19 was spread in China and various European countries but till then India was largely unaffected with less than 100 positive cases. Things started escalating afterward)More money in the hands of peopleConsumption lead to- investment - employment - GDP growth. (Mentioned about the virtuous cycle from Economic survey 2019-20)Chairman(C)- In disagreement, I am very conservative, I don't think it should happen. What will happen if we forgo the FRBM targets?Me- the confidence and trust of countries towards India might take a hit.I don't know if he was satisfied or not. Said okay you may go.I thanked everyone and came out of the room.Key Takeaways:1.There are 5 areas from which the questions will come:a) Profileb) Current affairs/issues.c) Reserve bank of India functions and workingd) Graduation ( Will be asked mostly to people with no work experience)e) Basic Economics and finance issues ( Could be tricky as the aspirants were asked about the financial crisis like 2008 GFC, Euro-zone crisis, Asian financial crisis)2.The majority of the questions will be profile based prepare your profile i.e Graduation, work-ex, certifications, and any other thing you've mentioned, thoroughly. We keep on reading bulky notes and give less attention to our profile. Not answering something related to your profile can leave a bad impression.The bio-data must be used as a bible in interview preparation carefully thinking about every possible angle from where the questions can be asked.3.There is a common saying for the interviews:"Interviews are just to gauge your personality and not your knowledge as they have gauged your knowledge in the previous 2 phases”. I would like to differ a bit as this statement makes us complacent. We can’t just flaunt our personality without adequate knowledge. The personality will be truly reflected if substantiated by knowledge and lots of practice.4.Be very particular about the time and wishing them good morning/afternoon. They do judge you based on that.5.Always try to make your opinion on the recent happenings. Back them up with facts and figures.I was satisfied with my performance as I consider it to be better than what I did in my last 2 RBI Grade B interviews. I hope the panel feels the same as I do. To be frank, interviews are highly subjective and one should not expect much because, in the end, 2/3rd of the aspirants will go empty-handed. Having said that, one should always be hopeful of the positive end result.The results will be delayed because of the pandemic. I hope this year, ends my 3-year drought. I will update you with the final verdict.Edit : The drought is gone. The mighty drought could not decimate the roots hidden under the soil. Finally with God's grace I cleared RBI Grade B 2019. Dream come true.

8 Best Places To Trade Crypto With Leverage [Newest Update 2021]Trading with margin is a great way for advanced traders to increase their potential profits by trading much larger positions.Traders should be mindful that crypto exchanges that offer leverage trading can compound profits and losses. Beginners that are learning how to trade should always use a demo account to trade crypto before depositing any real fundsWhat Is Crypto Leverage Trading?Crypto leverage trading is a tool for investors to open a long or short position that is much larger than their own capital by leveraging borrowed funds in a transaction. This allows the person to maximise potential profits by increasing their buying power using a small amount of money. 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(i)BootstrappingAn individual is said to be boot strapping when he or she attempts to found and build a company from personal finances or from the operating revenues of the new company.Here are some of the methods in which a startup firm can bootstrap:(a)Trade CreditWhen a person is starting his business, suppliers are reluctant to give trade credit. They will insist on payment of their goods supplied either by cash or by credit card. However, a way out in this situation is to prepare a well-crafted financial plan. The next step is to pay a visit to the supplier’s office. If the business organization is small, the owner can be directly contacted. On the other hand, if it is a big firm, the Chief Financial Officer can be contacted and convinced about the financial plan.Communication skills are important here. The financial plan has to be shown. The owner or the financial officer has to be explained about the business and the need to get the first order on credit in order to launch the venture. The owner or financial officer may give half the order on credit and balance on delivery. The trick here is to get the goods shipped and sell them before paying to them. One can also borrow to pay for the good sold. But there is interest cost also. So trade credit is one of the most important ways to reduce the amount of working capital one needs. This is especially true in retail operations.b)FactoringThis is a financing method where accounts receivable of a business organization is sold to a commercial finance company to raise capital.The factor then got hold of the accounts receivable of a business organization and assumes the task of collecting the receivables as well as doing what would’ve been the paperwork. Factoring can be performed on a non-notification basis. It means customers may not be told that their accounts have been sold.Merits to Factoring: The process of factoring may actually reduce costs for a business organization. It can actually reduce costs associated with maintaining accounts receivable such as bookkeeping, collections and credit verifications.In addition to reducing internal costs of a business, factoring also frees up money that would otherwise be tied to receivables. This is especially true for businesses that sell to other businesses or to government; there are often long delays in payment that this would offset. This money can be used to generate profit through other avenues of the company. Factoring can be a very useful tool for raising money and keeping cash flowing.(c)LeasingAnother popular method of bootstrapping is to take the equipment on lease rather than purchasing it. It will reduce the capital cost and also help lessee (person who take the asset on lease)to claim tax exemption. So, it is better to a take a photocopy machine, an automobile or a van on lease to avoid paying out lump sum money which is not at all feasible for a startup organization.(ii)Angel InvestorsDespite being a country of many cultures and communities traditionally inclined to business and entrepreneurship, India still ranks low on comparative ratings across entrepreneurship, innovation and ease of doing business. The reasons are obvious. These include our old and outdated draconian rules and regulations which provides a hindrance to our business environment for a long time. Other reasons are redtapism, our time consuming procedures, and lack of general support for entrepreneurship. Off course, things are changing in recent times.As per Investopedia, Angel investors invest in small startups or entrepreneurs. Often, angel investors are among an entrepreneur’s family and friends. The capital angel investors provide may be a one-time investment to help the business propel or an ongoing injection of money to support and carry the company through its difficult early stages.Angel investors provide more favorable terms compared to other lenders, since they usually invest in the entrepreneur starting the business rather than the viability of the business. Angel investors are focused on helping startups take their first steps, rather than the possible profit they may get from the business. Essentially, angel investors are the opposite of venture capitalists.Angel investors are also called informal investors, angel funders, private investors, seed investors or business angels. These are affluent individuals who inject capital for startups in exchange for ownership equity or convertible debt. Some angel investors invest through crowdfunding platforms online or build angel investor networks to pool in capital.Angel investors typically use their own money, unlike venture capitalists who take care of pooled money from many other investors and place them in a strategically managed fund. Though angel investors usually represent individuals, the entity that actually provides the fund may be a limited liability company, a business, a trust or an investment fund, among many other kinds of vehicles.Angel investors who seed startups that fail during their early stages lose their investments completely. This is why professional angel investors look for opportunities for a defined exit strategy, acquisitions or initial public offerings (IPOs).(iii) Venture Capital FundsEvolutionVenture Capital in India stated in the decade of 1970, when the Government of India appointed a committee to tackle the issue of inadequate funding to entrepreneurs and start-ups. However, it is only afterten years that the first all India venture capital funding was started by IDBI, ICICI and IFCI.Formation of venture capital has been depicted in the diagram below:Investors in venture capital funds are shown in the following diagram:Structure of Venture Capital Fund in IndiaThree main types of fund structure exist: one for domestic funds and two for offshore ones:(a)Domestic Funds:-Domestic Funds raises funds domestically.-They are usually structured as:(i) a domestic vehicle for the pooling of funds from the investor, and(ii) a separate investment adviser that carries those duties of asset manager.-Domestic Vehicle may be a trust and a company.India, unlike most developed countries does not recognize a limited partnership.-Trust form is considered best due to its operational flexibility.(b)Offshore Funds: Two common alternatives available to offshore investors are: the “offshore structure” and the “unified structure”.Offshore structure:-Under this structure, an investment vehicle having jurisdiction outside India is created.-It can be an LLC or an LP.[Limited Liability Company or Limited Partnership]-It makes investments directly into Indian portfolio companies.-Typically, the assets are managed by an offshore manager, while the investment advisor in India carries out the due diligence and identifies deals.Unified Structure:-When domestic investors are expected to participate in the fund, a unified structure is used.-Overseas investors pool their assets in an offshore vehicle that invests in a locally managed trust, whereas domestic investors directly contribute to the trust.-This structure is deviced to make the local portfolio investments.Concept of Venture Capital FundVenture capital means funds made available for startup firms and small businesses with exceptional growth potential. Venture capital is money provided by professionals whoalongside management invest in young, rapidly growing companies that have the potential to develop into significant economic contributors.Venture Capitalists generally:.Finance new and rapidly growing companies.Purchase equity securities.Assist in the development of new products or services.Add value to the company through active participation.Characteristics of Venture Capital Financing:(i) Long time horizon:-The fund would invest with a long time horizon in mind. Minimum period of investment would be 3 years and maximum period can be 10 years.(ii)Lack of liquidity: When VC invests, it takes into account the liquidity FACTOR.IT assumes that there would be less liquidity on the equity it gets and accordingly it would be investing in that format.They adjust this liquidity premium against the price and required return.(iii)High Risk: VC would not hesitate to take risk. It works on principle of high risk and high return. So, high risk would not eliminate the investment choice for a venture capital.(iv)EquityParticipation: Most of the time, VC would be investing in the form of equity of a company. This would help the VC participate in the management and help the company grow. Besides, a lot of board decisions can be supervised by the VC if they participate in the equity of a company.Advantages of bringing VC in the company:(1)It injects long- term equity finance which provides a solid capital base for future growth.(2)The venture capitalist is a business partner, sharing both the risks and rewards. Venture capitalists are rewarded with business success and capital gain.(3)The venture capitalist is able to provide practical advice and assistance to the companybased on past experience with other companies which were in similar situations.(4)The venture capitalist also has a network of contacts in many areas that can add value to the company.(5)The venture capitalist may be capable of providing additional rounds of funding should it be required to finance growth.(6)Venture capitalists are experienced in the process of preparing a company for an initial public offering (IPO) of its shares onto the stock exchanges or overseas stock exchange such as NASDAQ.(7)They can also facilitate a trade sale.Stages of funding for VC:(1)Seed Money: Low level financing needed to prove a new idea.(2)Start-up: Early stage firms that need funding for expenses associated with marketing and product development.(3)First-Round: Early sales and manufacturing funds.(4)Second-Round: Working capital for early stage companies that are selling product, but not yet turning in a profit.(5)Third Round: Also called Mezzanine financing, this is expansion money for a newlyprofitable company.(6)Fourth-Round- Also called bridge financing, it is intended to finance the “goingpublic”process.Risk in each stage is different. An indicative Risk matrix is given below:Financial Period(Funds RiskPerception Activity to be financedStage locked inyears)Seed 7-10 Extreme For supporting a concept or idea or R&DMoney for product developmentStart Up 5-9 Very High Initializing prototypes operations ordevelopingFirst 3-7 High Start commercials marketingStage productionSecond 3-5 Sufficientlyhigh Expand market and growing workingStage capital needThird 1-3 Medium Market expansion, acquisition & productStage development for profit making companyFourth 1-3 Low Facilitating public issueAbove answer taken from CA,CS,CMA Faculty Aaditya jain sir’s book.