Concerning the RBI
The central bank and regulatory agency in charge of overseeing the Indian banking sector is the Reserve Bank of India, or RBI for short. It is owned by the Indian government’s Ministry of Finance and is in charge of managing the supply, issuing, and control of the Indian rupee. In addition, it oversees the nation’s primary payment systems and works to advance its economic growth.
Indian currency notes (INR) are printed and minted by the RBI’s specialized Bharatiya Reserve Bank Note Mudran (BRBNM) at two of its currency printing presses in Mysore, Karnataka, in Southern India, and Salboni, West Bengal, in Eastern India.
The RBI Internship 2024’s goal
Young people have the chance to learn about the latest developments in central banking research through the Research Internship program. It works best for people who have just graduated from college and want to pursue a Ph. D. in finance, banking, economics, or a similar discipline. It also works well for jobs in government research institutes or financial institutions that need a quantitative and analytical mindset.
RBI Internship 2024 Eligibility Requirements for Undergraduate, Graduate, and Postgraduate Students.
Proficiency in quantitative methods and applied econometrics, as well as knowledge of some econometric software (such as Stata, Eviews, Matlab, R, and Gauss), are desirable qualifications.
DSIM: Postgraduate degree in economics, statistics, or econometrics; or B.E. or B.Tech. in computer science; or MBA in finance
DEPR: MBA in Finance or a postgraduate degree in Economics, Banking, or Finance
SRU: Bachelor of Technology, Bachelor of Engineering, or postgraduate degrees with a quantitative focus in economics, finance, or statistical science, or those with a focus on computer or data analytics. Programming abilities or the capacity to learn them are required.
ID: MBA with a focus in finance, banking, or international relations; postgraduate degree in economics, statistics, finance, international finance, or international trade.
Function and Accountability
Both domestic and international students will be able to take advantage of the opportunity. Strong motivation is essential. Candidates will have numerous opportunities to learn and take part in research in our work environment. Candidates should be able to benefit from our work in these areas and have a strong interest in our core research areas.
The Intern:
will support and work with RBI researchers on initiatives to submit papers and policy recommendations intended for publication in reputable finance and economics journals.
will support the timely and accurate collection of data as well as the use of pertinent econometric, statistical, and analytical tools required to carry out the research projects.
may switch to producing high-caliber research and policy articles.
Application Process
Depending on RBI’s requirements, selections will be made twice a year so that the internship starts on either January 1st or July 1st of the relevant year. Throughout the first five months of the previous six months, the application window will be open. Applications for internships starting on January 1st will, for example, be accepted in November of the previous year and reviewed in December of the same year. Similarly, applications for internships starting on July 1st will be accepted from January through May and reviewed in June of the same year.
Candidates’ applications are only valid for the batch for which they are applied (January 1st or July 1st), and they won’t be taken into consideration for the next batch. When the application period for the next planned batch opens, interested candidates who were not chosen earlier are asked to reapply.
Based on the candidate’s resume, references, and statement of purpose, the bank will shortlist them and invite them for an in-person interview. Interested candidates are urged to submit their resume, references, and statement of purpose to the email address of the department of their choice, along with a completed application.
Applications that are incomplete or do not include a Statement of Purpose, CV, or references may be rejected.
Time frame
The internship will last six months, with the possibility of an extension based on the intern’s performance and the needs of the unit. Outstanding performers may be given consideration for additional extensions (the internship period may last up to two years, with the option to be renewed every six months).
After being selected, the intern must complete the six-month internship; if they choose to end it earlier, they must give at least one month’s notice. The intern will be required to pay a sum equal to one month’s stipend if, for any reason, they are unable to serve the notice period.
Mumbai, India, is the location of the internship.
Advantages
The interns will have access to office space, internet, and other support services from RBI.
A monthly stipend of ₹ 45,000/- (forty-five thousand only) will be provided by RBI.
interns will be entitled to leave at a rate of 12 days every six months; any absences beyond this time frame will be considered unpaid leave. Leave will be calculated pro rata for any fractional period.
It will be necessary for interns to arrange their own lodging.
APPLY LINK- https://opportunities.rbi.org.in/scripts/ApplicationForm.aspx