The Reserve Bank of India is India’s central bank and regulatory body under the jurisdiction of Ministry of Finance, Government of India. It is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.
Applications are invited for RBI Research Internship 2021-22. online applications are open on the official website.
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.
Qualification / Experience:
- 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 : Post Graduate degree in Economics / Statistics / Finance / International Finance / International Trade / MBA with specialization in finance / Banking / International Relations.
Desirable Qualification : Proficiency in applied econometrics and quantitative techniques; familiarity with some econometric software (e.g. Stata / Eviews / Matlab / R / Gauss).
Work Experience : Not a pre-requisite.
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.
- 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.
- 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.
- 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.
Mode of Application:
- Selections will be done twice a year depending on RBI’s requirements in a manner that the internship commences from 1st of January or 1st of July of the year concerned. Application window will remain open during first five months of the preceding half-year. To illustrate, applications for internships commencing from 1st of January onwards will be accepted during July-November of the previous year and will be examined in December of the previous year. Likewise, application for internship commencing from 1st of July onwards will be accepted during 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 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 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.
Method of Selection:
- The Bank would select a maximum of 20 interns every year.
- 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 as mentioned below with CV, References and Statement of Purpose.
- Candidate will be shortlisted by the Reserve Bank based on their CV, References and Statement of Purpose and will be called for personal interview.
- The details of each of the departments (DEPR / DSIM / SRU / ID) is mentioned below.
How to apply:
Check out the OFFICIAL NOTIFICATION and DIRECT APPLY from here.