Research Internship (Rolling Intake)

About Reserve bank of India

Reserve Bank of India (RBI) is India’s central bank responsible for issuing currency, extending credit to the government, regulating the commercial banking sector, and assessing the country’s economic health. It is best known for being the central financial authority in India. Their vision is to promote the integrity, efficiency, inclusiveness, and competitiveness of the financial and payments system.

Your role

The research Internship scheme provides an opportunity for 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 Intern Will assist and collaborate with RBI researchers on projects to provide policy inputs and papers targeted for publication in 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.
• Placements would be in three departments of RBI namely DEPR / DSIM / SRU.z

Training, development & rotations

• 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 (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 has to 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 in Mumbai, India.
• Reserve Bank reserves the right to terminate the internship with a notice period of one month without giving any reason.

Placement:

• Placements would be in three departments of RBI namely the Department of Economic and Policy Research (DEPR) / Department of Statistics and Information Management (DSIM) / Strategic Research Unit (SRU).

The details of these departments are can be found by clicking on the "Apply on employer site" button.

Salary & benefits

Facilities Provided:

• RBI will provide office space, internet connectivity, and other support facilities to the interns.
• RBI will pay a stipend of INR 35,000/- per month. ( Source: RBI)
• Interns will be required to make accommodation arrangements of their own.

Career progression

Standard fresher jobs can be rare at the RBI, but junior roles can occasionally be found posted on their websites. However, applicants who get in will find themselves in a comfortable job. Employees who work 9 - 5, are given comfortable benefits and reasonable pay. Working in a central bank is great exposure to many parts of the economy, which is a great chance to learn. It’s known throughout the country and is a respectable workplace. The staff is professional and accommodating to freshers. Even as a Manager, you are on top of your peers in the financial world. As you grow in the organization, you could occupy some of the highest and most demanding positions in the financial world.

Work-life balance

At RBI India, you find a good learning environment. The staff is very cooperative and helpful. It has a diverse and inclusive work culture. A work environment that is conducive to achieving excellence.

Culture & vibe

You get an opportunity to work on a wider canvas of operations, you are involved in the formulation of policies having nationwide implications. You get multi-disciplinary job content and an opportunity to contribute to nation-building. Interact with some of the best minds in the government and the financial institutions while at work and build lasting relationships among the RBI fraternity at home.

About you

To apply for the internship you must have the following eligibility criteria;

Qualification:

• For DSIM- Post Graduate in Statistics/Econometrics/Economics or BE/B.Tech (Computer) or MBA (Finance).
• For DEPR- Post Graduate in Economics, Banking, Finance, or MBA (Finance).
• For SRU- B.Tech or B.E. or Post Graduate with quantitative-oriented degrees in Economics, Finance, or Statistical Science or those with expertise in Computer or Data Analytics. Programming skills or the ability to acquire them are necessary.
• 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 also be able to derive benefit from our work in these areas.

Work Experience:

• Not a pre-requisite.

How to apply

To apply for this role, simply click on the "Apply on employer site" button below, where the application can be sent based on the category selected to their respective department email.

Mode of Application:

Selections will be done twice a year depending on RBI’s requirements in a manner that the internship commences from the 1st of January or the 1st of July of the year concerned.

• The application window will remain open during the first five months of the preceding half-year. To illustrate, applications for internships commencing from the 1st of January onwards will be accepted from July-November of the previous year and will be examined in December of the previous year. Likewise, applications for internships commencing from1st of July onwards will be accepted during January- May and will be examined in June of the same year.
• The applications of the candidates are valid only for the applied batch (i.e 1st January / 1st July) and the same will not be considered for the subsequent batch. Candidates who were not selected earlier, if interested, are requested to apply afresh when the application window for the next intended batch commences.
• The candidate will be shortlisted by the Bank based on their CV, References, and Statement of Purpose and will be called for a personal interview. Interested candidates are encouraged to send their CVs, References, and Statement of Purpose through e-mail to the email-id relevant to the desired Research Area/ Department.
• Incomplete applications and applications without a CV, References, and/or Statement of Purpose are liable to be rejected.
• References may be obtained from the faculty members of the related colleges/institutions of the respective applicants.