Pursuing MA in economics from IGNOU alongside preparing for RBI Grade B exam has its pros and cons both.

Pros: 

1. It will make you eligible for RBI Grade B (DEPR) vacancies, for which competition would be lesser as compared to RBI Grade B (General). The probability of selection will be higher.

2. In future, if you need backup options, this degree will come to your rescue.

3. This degree will get you brownie points in an interview. The knowledge gained through the pursuit of the degree will be helpful in your career.

4. Will help with the Economic Issues portion of RBI.

Cons:

• You might face serious time management issues.

• If you decide to pursue MA in Economics alongside prepararing RBI Grade B Exam, it have its own respectve pros and cons.

Weighing the pros and cons you can make the decision based on your caliber and situation.