About Job
The Reserve Bank of India (RBI) is offering an exciting opportunity for students to gain practical experience in the country’s central banking system through its Summer Internship Scheme 2024. The internship allows students to work on various tasks at RBI’s offices, learning about the financial and economic policies of the country, and contributing to different legal, regulatory, and operational matters. This is a paid internship with a monthly stipend, and the work will cover several core areas including law, economics, banking, and more.
About Organisation
The Reserve Bank of India (RBI) is the central banking authority of India, responsible for overseeing the monetary and financial stability of the country. Established in 1935, the RBI regulates the issuance of the Indian currency, manages the country’s foreign exchange, and supervises the Indian banking system. It plays a key role in setting interest rates and controlling inflation, ensuring a robust financial environment for economic growth. The RBI’s commitment to governance, transparency, and policy formulation makes it one of the most prestigious financial institutions in the country.
Eligibility
The internship is open to students pursuing:
- Postgraduate degrees in Management, Statistics, Law, Commerce, Economics, Econometrics, Banking, or Finance.
- Integrated five-year courses in the above fields.
- Three-year full-time professional bachelor’s degree in Law from reputed institutions in India.
Applicants must be in the penultimate year of their degree to qualify. This restriction ensures that students close to graduation gain valuable work experience before entering the workforce.
Role and Responsibilities
Interns will engage in various activities, including but not limited to:
- Assisting with research and policy formulation on financial, banking, and regulatory issues.
- Supporting legal and compliance-related work across different RBI departments.
- Contributing to reports, analyses, and presentations related to the Indian economy and monetary policy.
- Collaborating with RBI teams on special projects concerning financial regulations, legal advisory, and governance.
Perks
Interns will receive:
- A monthly stipend of ₹20,000.
- Reimbursement for AC II Tier return train fare for outstation candidates traveling for interviews and placement.
- A comprehensive learning experience working alongside experts in banking, finance, and legal affairs.
Please note, accommodation will not be provided, and selected candidates will need to arrange their own housing.
Mode and Location
This is an in-person internship, and placements will be spread across multiple RBI offices in various regions of India, including but not limited to:
- Mumbai
- Bengaluru
- Kolkata
- Chennai
- New Delhi
- Other locations across all states and union territories.
Application Procedure
Interested candidates must fill out the online application form on the RBI’s official website. Applicants should note:
- Only one Control Office can be selected based on the location of the applicant’s educational institution.
- No physical submission of documents is required at the time of application. Selection will be based on the information submitted in the online form.
- Selected students will be notified for interviews, and those residing outside the interview location will need to bear their own travel expenses.
Make sure to apply well in advance to avoid last-minute issues with the application portal.
Important Dates
- Application Start Date: October 15, 2024
- Application Deadline: December 15, 2024
- Internship Period: April to July 2025
Official Link
For more information, please visit the Official Notification
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