Are you a domestic student looking for a summer internship opportunity? The Reserve Bank of India (RBI) offers a summer internship program for students pursuing post-graduate courses, integrated five-year courses in management, statistics, law, commerce, economics, econometrics, banking, finance, and three-year full-time professional bachelor’s degree in law from reputed institutions/colleges located in India.
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Table of Contents
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. It is under the ownership of 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 four of its currency printing presses located in Nashik (Maharashtra; Western India), Dewas (Madhya Pradesh; Central India), Mysore (Karnataka; Southern India) and Salboni (West Bengal; Eastern India).[5] The RBI established the National Payments Corporation of India as one of its specialized divisions to regulate the payment and settlement systems in India.
Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized divisions for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.
Eligibility Criteria
Students pursuing a) post-graduate courses b) Integrated five-year courses in Management / Statistics / Law / Commerce / Economics / Econometrics / Banking / Finance c) Three-year full-time professional bachelor’s degree in Law from reputed Institutions / Colleges located in India. Students who are currently in the penultimate year of their course can only apply for the summer placement.
Deadline Date
15th December 2023
Selection Of RBI Summer Internship
The Bank will select a maximum of 125 students for summer placement every year. In the month of January / February of the following year, the interview for the short-listed candidates will be held at the offices as indicated. The short-listed outstation candidates will be required to bear the travel costs of the journey to the office of RBI and back for this purpose. Names of selected students will be communicated in the month of February / March.
Selected outstation candidates will be reimbursed AC II Tier return fare by rail (or equivalent amount) from the place of his/her institute to the place of summer placement for undertaking the project.
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Instructions regarding the online application form
Please note that all the particulars mentioned in the online application including the Name of the Candidate, Date of Birth, Address, Mobile Number, Email ID, Centre of summer placement etc. will be considered final and no modifications will be allowed after submission of the online application form. Candidates are hence requested to fill in the online application form with the utmost care as no correspondence regarding change of details will be entertained. RBI will not be responsible for any consequences arising out of the furnishing of incorrect and incomplete details in the application or omission to provide the required details in the application form.
An online application which is incomplete in any respect such as without a photograph, signature and College authorization letter/bona fide certificate uploaded in the online application form will not be considered.
Candidates are advised in their own interest to apply online much before the closing date and not to wait till the last date to avoid the possibility of disconnection/inability/failure to log on to the RBI website on account of heavy load on the internet/website jam.
RBI does not assume any responsibility for the candidates not being able to submit their applications within the last date on account of the aforesaid reasons or for any other reason beyond the control of RBI.
Please note that the above procedure is the only valid procedure for applying. No other mode of application or incomplete steps would be accepted, and such applications would be rejected.
General Rules/ Instructions to Candidates
Candidates can apply for only one Control Office and will be considered for the summer placement at the centre as per their college/ institute’s location. For example, candidate studying in college/ institution located in Maharashtra/ Goa/ Daman & Diu/ Dadara & Nagar Haveli can apply for Mumbai centre only.
Candidates need not submit/ send at any address, application printouts or any certificates or copies thereof at the time of online application. Their candidature will be considered on the strength of the information declared in the application. If at any stage, it is found that any information furnished in the online application is false/ incorrect or if according to RBI, the candidate does not satisfy the eligibility criteria, his/ her candidature is liable to be cancelled.
All educational qualifications should have been obtained from recognized universities/institutions in India. Candidate should indicate the percentage obtained in Graduation calculated to the nearest two decimals in the online application. Where CGPA/ SGPA is awarded, the same should be converted into a percentage and indicated in the online application. If asked for document verification, the candidate will have to produce a certificate issued by the appropriate authority inter alia stating the norms of the University/Institution regarding the conversion of grades into percentages and the percentage of marks by the candidates in terms of norms.
Candidates are advised in their own interest that they should not furnish any particulars that are false, tampered with or fabricated and should not suppress any material information while submitting an online application.
RBI shall not entertain requests from the candidates seeking advice about their eligibility to apply.
Duration
Normally the period of placement will be for a maximum of three months during the period from April to July. The period may be reduced/extended at the discretion of the Bank.
Facilities
Summer trainees are eligible to receive a monthly stipend of ₹20,000/- per month. Outstation trainees will be required to make accommodation arrangements on their own.
Place of Summer Training
Summer trainees will be required to undertake the project at the centre corresponding to the state of their institute, as per the table given above.
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Registration Link
Interested candidates apply here From the Registration Link
How To Apply?
Click on the below button to apply for the RBI Summer Internship
Click here to view the official notification of the RBI Internship
