Reserve Bank of India Introduced Research Internship Scheme

Reserve Bank of India Introduced Research Internship Scheme

The Reserve Bank of India has introduced a Research Internship Scheme to provide an opportunity to young individuals to expose themselves to cutting edge research in central banking. The scheme is aimed at individuals who have recently finished their graduation and wish to pursue PhD in economics, banking, finance or related fields, or to move to positions in government research institutions or financial institutions that require a quantitative and analytic orientation.

Highlights of the Scheme are:

Role Description

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 appropriate quality.

Qualification

• The opportunity will be open to domestic as well as foreign students.
• Applicants should have completed 3-year undergraduate degree plus one extra year of post-graduate studies or 4 year integrated courses such as B.Tech or B.E. before joining. We seek candidates with quantitative- oriented degrees in economics, finance, or statistical sciences or those with expertise in computer or data analytics or engineering. Programming skills or ability to acquire them are necessary.
• 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 also be able to derive benefit from our work in these areas.

Work Experience

• Not a pre requisite.

Mode of Application

Selections will be done twice a year depending on the Reserve Bank’s requirements in a manner that the internship commences from January 1 or July 1. Application window will remain open during first five months of the corresponding half-year. To illustrate, applications for internships commencing from January 1 onwards will be accepted during July-November and will be examined in December of the previous year. Likewise application for internship commencing from July 1 onwards will be accepted during January-May and will be examined in June. Candidates will be shortlisted by the Reserve Bank based on the 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 through e-mail to the email id relevant to the desired Research Area/Department. That is, for Department of Economic and Policy Research (DEPR), Please click here to send email; for Department of Statistics and Information Management (DSIM) Please click here to send email; and for Strategic Research Unit (SRU) Please click here to send email.

Method of Selection

The Reserve Bank would select a maximum of 10 interns every year. Placements would be in departments such as Department of Economic and Policy Research (DEPR) / Department of Statistics and Information Management (DSIM) / Strategic Research Unit (SRU).

Duration

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 internship is based at Mumbai, India. The Reserve Bank reserves the right to terminate the internship with a notice period of one month without giving any reason.

Facilities

The Reserve Bank would provide office space, internet connectivity and other support facilities to the interns. The Reserve Bank would pay a stipend of Rs. 35,000 per month. Interns will be required to make accommodation arrangements of their own.

No Right of Appointment

The interns shall have no right/claim for an appointment in the Reserve Bank by virtue of their internship.

Source:https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR26002E975A16A5BD4BD79047BC22E6B95D36.pdf