CAIIB Central Banking | Elective Paper | Syllabus | Study Material

The IIBF has announced the exam dates for the CAIIB exam 2024. Candidates who are appearing in the CAIIB exam 2024 must be looking for the complete syllabus and study material to prepare for the exam. Besides the compulsory papers in CAIIB, there are also five elective papers offered by IIBF and the candidates are required to choose one of them. In this article, we will discuss the complete syllabus and study material of CAIIB Central Banking elective paper which will be beneficial for candidates to prepare for the exam.


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CAIIB central banking-elective paper syllabus and study material 2024


CAIIB Syllabus: CAIIB Elective Subjects
  1.   Rural Banking
  2.   Human Resources Management
  3.   Risk Management
  4.   Information Technology and Digital Banking
  5.   Central Banking

CAIIB Central Banking Elective Paper Study Material


CAIIB Central Banking video course

Our CAIIB Central Banking elective paper video series consists of 20+ videos of 20+ hours covering all the chapters and concepts for a comprehensive understanding of candidates. The videos are delivered by our experts with sound experience. These videos help understand complex concepts as the difficult topics are made available with diagrams, examples and illustrations. Candidates can pause and rewind any topic whenever they want.

CAIIB Central Banking Pdfs

While preparing for the CAIIB exam revision is something that candidates never skip, and Our chapter-wise Central Banking PDF notes are prepared for the ease of candidates covering all the topics as per the latest CAIIB syllabus 2024.

CAIIB Central Banking YouTube Videos

We upload videos on our YouTube channel regularly. You can find enough videos of CAIIB Central Banking and prepare the topics accordingly. These videos are structured to help candidates prepare for the CAIIB exam by offering detailed explanations, examples, case studies, and practical insights into central banking functions, policies, and operations.

CAIIB Central Banking Mock Tests

Candidates can assess their performance, weak and strong areas by practising our CAIIB Central Banking Mock Tests. Mock tests help candidates in Practice and Time Management for exam day.

Why choose Learning Session’s Study Material


Latest Syllabus

The study material that we provide is according to the latest CAIIB syllabus as per IIBF. All the topics/concepts are prepared according to the CAIIB syllabus 2024.

Detailed Concepts

The topics/concepts are thoroughly explained. The use of practical examples and visuals such as diagrams and illustrations, enhances understanding and retention, making it easier for candidates to apply these concepts effectively in the real exam. This comprehensive approach not only facilitates learning but also boosts candidates’ confidence in tackling exam questions related to the intricacies of central banking, thereby ensuring a thorough preparation for the CAIIB exam.


The video courses are offered in two languages: Hindi with English and English only. You can choose the course in the language you are comfortable with. Despite this, the other study materials that are included in the video lectures will only be available in English.

Videos Duration

Our videos are designed to efficiently cover all concepts within the limited time available to busy bankers. Each video is structured to cover all essential concepts and topics efficiently, without unnecessary elaboration or time-consuming content. Our approach focuses on delivering high-quality content, ensuring that bankers can make the most of their study time and achieve maximum understanding of central banking principles within manageable durations.

Prepared by Experts

The study materials are prepared by our experts having years of experience. By focusing on clarity the experts ensure that candidates have access to up-to-date study material.

CAIIB Central Banking Elective Paper Syllabus

Module A



Theory and Practice of Central Banking: Evolution

Global Evolution of Central Banks; Reasons for Proliferation of Central Banks; Conflicting Role and Responsibilities of Central Banks; Development of Central Banks in Developed and Developing Countries

Functions of Central Banks

Banker to Government; Banker to Banks; Lender-of-Last-Resort; Monetary Policy Functions; Currency Issue and Management; Payment and Settlement Systems; Maintaining Internal Value of Money; Maintenance of the External Value of Currency; Regulation, Facilitation and Supervision of Financial System; Financial Stability; Promotional Functions to Support Growth and Other National Objectives; Development of Financial Markets and Institutions; Central Bank Communication Policies

Contemporary Issues in Central Banking

Autonomy and Independence of a Central Bank; Credibility of a Central Bank; Accountability of a Central Bank; Transparency in Central Bank Operations; Conflict with Fiscal Policies


Module B



Reserve Bank of India

Reserve Bank of India: Organizational Evolution; Reserve Bank of India: Structure and Governance; Reserve Bank of India: Major Organizational and Functional Developments Over Time; RBI Act 1934: Salient Features and Some Comments Central Banking: Indian Specific Issues Banking Regulation Act; Foreign Exchange Management Act (FEMA); The Banking Ombudsman Scheme, 2006; Financial Sector Reforms; Other Financial Regulators and Division of Functions; Institutions Set up by RBI

Financial Inclusion and Development

Impediments in the process of achieving financial inclusion; Role of policy interventions: Mandates and Subventions; On building an appropriate institutional and financial structure based on digital technology; Focus on payment and settlement systems vs Focus on extension of credit; Some Issues and their possible resolution; Financial Inclusion; Financial Inclusion Plans


Module C



Monetary Policy

Monetary Policy: Theoretical Underpinnings; Objectives of Monetary Policy; Reconciling Dual Objectives; Monetary Policy Rules; The Vexed Issue: Rules vs Discretion; Indicators of Policy; Instruments of Policy; Statutory Liquidity Ratio (SLR); Selective Credit Controls; Policy Transmissions Mechanisms and Channels; Transmission Channels; An Evaluation of the Transmission Channels; Transparency of Policies; Lags in Policy; Process of Monetary Policy Formulation in India; Conduct of Monetary Policy in the Wake of Net Large Capital Inflows during the 2000s; Recent Initiatives for Further Strengthening Monetary Policy Formulation

Credit Policy

Theoretical Underpinnings; Credit Policy in Practice; Nominal versus Real Credit; Credit Allocation Mechanisms; Instruments of Credit Control; Margin Requirements; Rationing of Credit (Credit Ceiling); Credit Pricing (Setting Bank’s Lending Rates)

Fiscal-Monetary Relations

Monetary-Fiscal Relations: India; Striking Balance between Inflation and Growth: Recent Initiatives; Finances of Central and State Governments: Recent Trends; Central Government Finances in 2020-21; Central Government Finances in 2021-22; State Finances in 2021-22; Constitution of Finance Commission; Recommendations of the Fifteenth Finance Commission; Grants-In-Aid; Fiscal Roadmap/Rules; Fiscal Road Map Recommended by the 15th Finance Commission

Liquidity Management in the System

Theoretical Framework underlying LAF; Genesis and Evolution of Liquidity Adjustment Facility; Review of LAF based on the Report of the Expert Committee to Revise and Strengthen Monetary Policy Framework; Revised Framework of LAF based on the recommendations of IWG; Operational Strategies in Managing LAF; Underlying Instruments for the conduct of LAF; Guiding Principles for the conduct of LAF; Structuring of Open Market Operations; Other salient features of the Revised LAF; Liquidity Management during Covid-19: Initiatives undertaken by Reserve Bank of India; Money Markets: Liquidity conditions; Government Securities Market and the Risk-Free Curve; Corporate Bond Market: Liquidity Conditions; Equity Markets: Liquidity Conditions; Severity of the Pandemic and the RBI initiatives; Recent measures announced by RBI on 08 April, 2022 as part of Monetary Policy


Module D



Management of Foreign Exchange Reserves

Legal Framework; Risk Management; Operational Risk and Control System; Transparency and Disclosures; Recent Developments in the Movement of Foreign Exchange Reserves; Sources of Accretion to Foreign Exchange Reserves; Adequacy of Reserves; Management of Gold Reserves; Investment Pattern of the Foreign Currency Assets (FCA); Other Related Aspects

Constituents of the Indian Financial System Structure

Genesis of Financial Market Development; Structure and Growth of Financial Markets in India; Money Market; Government Securities Market; Foreign Exchange Market; Reform/Post-Reform Period (1990s to 2010); Foreign Exchange Markets: Post Reform Period; Financial Benchmarks – Transparency & Governance Framework; Roadmap for LIBOR Transition


Module E



Evolution of Regulation and Supervision

Genesis and Evolution of Regulation and Supervision: Some Theoretical Underpinnings; Global Backdrop; Interactions of Monetary Policy and Regulatory and Supervisory Policies; Integration Vs Separation of Monetary, Regulatory and Supervisory Functions – Recent Perspectives; Genesis of Bank Regulation and Supervision in India; Conduct of Monetary Policy and Compatibility with Regulatory and Supervisory Role: The Indian Perspective

Development, Regulation and Supervision and Recent Performance of Scheduled Commercial Banks

Evolution and Development of Commercial Banks Initial Years (1950 to 1969); Strengthening and Consolidation of Commercial Banks (1969-1991); Rapid Strides in the Development the Banking Sector following the Financial Reforms Process Ushered in the 1990’s; Prudential Requirements for bank supervision; Submission of Returns on Liquidity Risk, Interest Rate Risk, and Currency Risk; Risk Management in Banks; Regulatory Policies for Scheduled Commercial Banks; Supervision of Scheduled Commercial Banks; Recent Operations and Performance of Scheduled Commercial Banks; Developments in the Banking Sector 2021 in Brief

Development, Regulation and Supervision of Co-Operative Banks

Growth of Cooperative Banking System; Regulatory Framework for Co-operatives: Duality of Control; Strengthening of the Financial Position of the UCBs; Strengthening of the Supervisory System Related to UCBs; Cooperative Banks: Recent Developments; Implementation Status of Goals; Strengthening Regulatory Framework; Major Developments;

Financial Stability

Global Economic Crisis and its implications for Central Banks, Financial Stability: An Overview, Risks to Financial Stability, Early Warning Signals and remedial Action, Liquidity Management in Banks, The Basel Norms for bank Supervision, Progress in the implementation of Basel II Norms, Progress in the implementation of Basel III Norms, RBI Perspective on moving towards Basel III Implementation, Effect of Liberalization and Globalization on Financial Stability, Conduct of monetary policy in the context of Liberalisation and Globalization, the Growing trend towards transparency, co-operation and best practices in a globalized environment, Role of a consultative approach, Linkage to International Financial Stability, International Standards and Codes, Role of Supervisor under Basel II and Basel III


Module F

Non-Banking Financial Institutions: Development, Regulation and Supervision

Conditions for Companies to Register as NBFCs with the Reserve Bank of India; NBFCs Registered with Other Regulatory Bodies; Classification of NBFCs under Broad Categories; Growth of NBFC Sector and the Need for Prudence; The Role of the Reserve Bank of India in the Development of NBFCs; Regulatory Policies for NBFCs: Scale-Based Regulatory Framework; Special Liquidity Scheme (SLS) for Non-Bank Financial Companies (NBFCs) / Housing Finance Companies (HFCs); Aligning Regulatory Framework for HFCs with NBFCs; Lowering of Secured Debt Limit for NBFCs under SARFAESI Act; Declaration of Dividend by NBFCs; Supervisory Policies for NBFCs; Appointment of Auditors in Regulated Entities; Prompt Corrective Action (PCA) Framework for NBFCs; Impact of Pandemic on NBFC Sector

Role of Primary Dealers in the Government Securities Market: Development, Regulation and Supervision

Evolution of PDs; Eligibility Conditions for PDs; Role and Responsibilities of PDs; Liquidity Support from RBI; Operations and Performance of PDs; Financial Performance of SPDs; Operational Guidelines, Regulatory and Supervisory Provisions Governing Primary Dealers; Investment Guidelines; Capital Adequacy and Risk Management


Also Read – CAIIB Risk Management – Elective Paper | Syllabus | Study Material 


For candidates who are preparing for the CAIIB Central Banking elective paper, starting early and utilizing quality study material is important for success. With consistency and access to quality study material, candidates can clear the CAIIB Central Banking paper in the first attempt.

CAIIB Central Banking elective Paper FAQs


Q1. How many modules are in the CAIIB Central Banking elective Paper?

There are 6 modules in the CAIIB Central Banking elective Paper.

Q2. What are the exam dates for the CAIIB Central Banking elective Paper?
  • 27th July 2024 and
  • 15th December 2024
Q3. Are there any specific resources or study materials recommended for the CAIIB Central Banking elective paper?

Yes, candidates can access study materials, videos, Epdfs, and mock tests provided by reputable coaching platforms and institutes specializing in CAIIB exam preparation.

Q4. How can I prepare effectively for the CAIIB Central Banking elective paper?

Effective preparation for the Central Banking elective paper involves studying the provided study material thoroughly, practising with mock tests, and revising key concepts regularly.

Q5. How are the questions structured in the Central Banking elective paper?

The Central Banking elective paper consists of multiple-choice questions, case studies, and theoretical questions.

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