RBI wants interns from January and will pay ₹45,000 a month⁠ — here’s who should apply

• RBI is hiring 20 research interns for a period of six months in Mumbai.
• Selected candidates will also be entitled for a monthly stipend of ₹45,000 per month.
• RBI offers internships twice a year for six months each ⁠— January to June and July to December.

Reserve Bank of India (RBI) is looking for 20 research interns for a six months internship in Mumbai. The opportunity is for those who have been in college relatively recently and wish to move on to pursue Ph.D in economics, banking, finance or related fields.

The internships are open to those who would like to seek positions in government research institutions, or financial institutions that require a quantitative and analytics orientation.

Candidates selected for the internship will be given a choice to select the area of research under these four departments ⁠— Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (DSIM), Strategic Research Unit (SRU), International Department (ID).

Selected candidates will also be entitled to a monthly stipend of ₹45,000 per month.

Educational qualifications required for the role department wise —

1. For DEPR: Postgraduate in economics/banking /finance or MBA in finance.
   
2. For DSIM: Postgraduate in statistics/econometrics/economics or Bachelor of engineering (B.E)/Bachelor of Technology (B.Tech) in computer or MBA in finance.
   
3. For SRU: B.Tech/B.E. or Postgraduate in economics/finance/statistical science or those with expertise in computer or data analytics.
   
4. For ID: Postgraduate degree in economics/statistics/finance/international finance/ international trade/MBA with specialization in finance/banking/international relations.
   

RBI offers internships twice a year for six months each ⁠— January to June and July to December. 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.

Selection procedure —

Candidates will be shortlisted by the bank based on their CV/resume, references and statement of purpose and will be called for a 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. You can find the relevant email IDs here.

Other rules and regulations —

1. 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) and any absence beyond the above period will be treated as leave without compensation.
   
2. Interns will be required to make accommodation arrangements of their own.
   
3. The intern should necessarily complete the 6 months internship period after selection and if the candidate 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.
   
4. Incomplete applications and applications without CV, references and statement of purpose are liable to be rejected.
   
5. RBI reserves the right to terminate the internship with a notice period of one month without giving any reason.
   

Candidates can seek more information here.

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