The Reserve Bank of India (RBI) is offering an exciting opportunity for students like you to participate in their prestigious Summer Internship at RBI 2024.
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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. 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.
Objective
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.
Role Description
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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Placement
Placements would be in four departments of Summer Internship at RBI namely the Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (DSIM), Strategic Research Unit (SRU), and International Department (ID). The details of these departments are given later in this document.
Eligibility Criteria for Summer Internship at RBI
- 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).
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Duration
- The Summer Internship at RBI 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 at Mumbai, India.
- Summer Internship at RBI Reserve Bank reserves the right to terminate the internship with a notice period of one month without giving any reason.
How To Apply?
If you are an Interested Candidate You can apply For the Summer Internship at RBI 2024: ₹45,000 Stipend, No Experience Required | Apply Now by 30 May Click Here
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FAQs
Who can apply?
The RBI Summer Internship is open to students pursuing higher studies (five-year program) in economics, finance, banking, management, or law from reputed institutions located in India. You should be in your penultimate year/semester at the time of application.
How much is the stipend?
Interns will receive a competitive stipend of ₹45,000 per month.
