Grab an internship at the Reserve Bank of India, know everything about this opportunity

The Reserve Bank of India (RBI) is providing an opportunity for a research internship to young individuals to expose themselves to quality and fine research in the central banking system for a good duration of six months. The exciting part is this internship opportunity comes with a stipend amount of Rs. 45,000/- per month and it doesn’t have any mandatory prerequisite of work experience.

It is for 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.

Also read: LIC AAO Recruitment 2023: Apply for 300 posts with starting salary beyond 90,000

Eligibility criteria

The placements of the Reserve Bank of India research internship would be done in mainly four departments of RBI namely the Department of Economic and Policy Research (DEPR), the Department of Statistics and Information Management (DSIM), the Strategic Research Unit (SRU), and the International Department (ID). And eligibility conditions for these respective departments are as follows-

• 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 the ability to acquire them are necessary.
• ID: Post Graduate degree in Economics/ Statistics / Finance / International Finance / International Trade / MBA with specialization in finance/ Banking/ International Relations.

The hiring authority expects the intern to be proficient in applied econometrics and quantitative techniques; familiarity with some econometric software (e.g. Stata, Eviews, Matlab, R, or Gauss).

Internship duration

• The Reserve Bank of India research 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 (the 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 in Mumbai, India.
• Reserve Bank of India reserves the right to terminate the internship with a notice period of one month without giving any reason.

Benefits of the Reserve Bank of India internship

• The Reserve Bank of India research interns will be provided office space, internet connectivity, and other support facilities.
• 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 a pro-rata basis for any fractional period). Any absence beyond the above period will be treated as leave without compensation.
• Interns will be required to make accommodation arrangements of their own.

Selection process

• The RBI would select a maximum of 20 interns for the Reserve Bank of India research internship every year.
• The placements would be in four departments of RBI namely DEPR / DSIM / SRU and ID.
• Interested candidates as per their choice of area of research should apply directly to the concerned department at the address mentioned below with a CV, References, and Statement of Purpose.
• The candidate will be shortlisted by the Reserve Bank based on their CV, References, and Statement of Purpose and will be called for a personal interview.

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