RBI Internship 2024 For UG,PG & Graduate Students, [Stipend Rs.45k], Apply Now

The Reserve Bank of India (RBI), the central bank of India, offers a prestigious internship program for undergraduate, postgraduate, and graduate students. This RBI Internship 2024 is a golden opportunity for aspiring economists, finance professionals, and those interested in the field of central banking.

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About the RBI

The Reserve Bank of India, abbreviated as RBI, is India’s central bank and regulatory body responsible for the regulation of the Indian banking system. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issuing, and maintaining supply of the Indian rupee. It also manages the country’s main payment systems and works to promote its economic development.

Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialized division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore (Karnataka; Southern India) and Salboni (West Bengal; Eastern India).

The RBI, along with the Indian Banks’ Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized division to provide insurance of deposits and guarantee of credit facilities to all Indian banks.

Objective of RBI Internship 2024

The Research Internship scheme provides an opportunity to young individuals to expose themselves to cutting-edge research in central banking. It best suits individuals who have been in college relatively recently and wish to move on to pursue Ph. D. in Economics, Banking, Finance, or related fields, or to positions in government research institutions, or financial institutions that require a quantitative and analytic orientation.

Eligibility Criteria

RBI Internship 2024 For UG,PG & Graduate Students.

Desirable Qualification: Proficiency in applied econometrics and quantitative techniques; familiarity with some econometric software (e.g. Stata / Eviews / Matlab / R / Gauss).

DSIM : Post Graduate in Statistics / Econometrics / Economics or B.E. / B.Tech. (Computer) or MBA (Finance)

DEPR: Post Graduate in Economics / Banking / Finance or MBA (Finance)

SRU: B.Tech. or B.E. or Post Graduate with quantitative-oriented degrees in Economics / Finance / Statistical Science or those with expertise in Computer or Data Analytics. Programming skills or ability to acquire them are necessary.

ID: Postgraduate degree in Economics / Statistics / Finance / International Finance / International Trade / MBA with specialization in finance / Banking / International Relations.

Role and Responsibility

The opportunity will be open to domestic as well as foreign students. Strong motivation is critical. Our work environment will give candidates many opportunities to learn and participate in research. Candidates should be keenly interested in our core areas of research and be able to derive benefit from our work in these areas.

The Intern:

Will assist and collaborate with RBI researchers on projects to provide policy inputs and papers targeted for publication at quality economics and finance journals.

Will assist in compiling accurate and timely data and assist with the relevant analytical, statistical and econometric tools necessary to execute the research projects.

May transition to writing research and policy articles of good quality.

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Application Process

Selections will be done twice a year depending on RBI’s requirements in a manner that the internship commences from the 1st of January or the 1st of July of the year concerned. The application window will remain open during the first five months of the preceding half-year. To illustrate, applications for internships commencing from the 1st of January onwards will be accepted during November of the previous year and will be examined in December of the previous year. Likewise, applications for internships commencing from the 1st of July onwards will be accepted from January- May and will be examined in June of the same year.

The applications of the candidates are valid only for the applied batch (i.e 1st January / 1st July) and the same will not be considered for the subsequent batch. Candidates who were not selected earlier, if interested, are requested to apply afresh when the application window for the next intended batch commences.

Candidate will be shortlisted by the Bank based on their CV, References, and Statement of Purpose and will be called for a personal interview. Interested candidates are encouraged to send their CV, References and Statement of Purpose along with duly filled application form to the email-id of the specific department desired by the applicant.

Incomplete applications and applications without a CV, References, and/or Statement of Purpose are liable to be rejected.

References may be obtained from the faculty members of the related colleges/institutions of the respective applicants.

Duration

The internship will be for a period of 6 (six) months extendable for another 6 (six) months based on the needs of the unit and the performance of the intern. Exceptional performers might be considered for further extension (total internship period may be for a maximum period of two years with a provision for renewal every six months).

The intern should necessarily complete the 6 months internship period after selection and if he / she decides to terminate the same, a notice period of at least one month must be served. If under any circumstances, the intern is unable to serve the notice period he / she would have to pay an amount equivalent to one month’s stipend.

The internship is based at Mumbai, India.

Reserve Bank reserves the right to terminate the internship with a notice period of one month without giving any reason.

Benefits

RBI will provide office space, internet connectivity and other support facilities to the interns.

RBI will pay a stipend of ₹ 45,000/- (Forty-Five Thousand only) per month.

The interns will be entitled to leave at the rate of 12 days per six months (leave will be calculated on pro rata basis for any fractional period) and any absence beyond the above period will be treated as leave without compensation.

Interns will be required to make accommodation arrangements of their own.

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How To Apply?

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