The Reserve Bank of India (RBI) offers a unique opportunity for young individuals to immerse themselves in advanced research through its Research Internship scheme. This program is designed for those who have recently completed their college education and are looking to pursue a Ph.D. in Economics, Banking, Finance, or related fields. It also caters to individuals aiming for positions in government research institutions or financial institutions requiring strong quantitative and analytical skills.

Objective

The primary objective of the RBI Research Internship is to expose participants to the forefront of central banking research. The program is ideal for candidates aspiring to advance their careers by gaining experience in economic research, policy development, and quantitative analysis.

Role Description

The internship is open to both domestic and international students who possess a strong motivation and interest in the core areas of research conducted by the RBI. The program offers a dynamic work environment where interns will have the opportunity to learn and actively participate in research projects.

Key Responsibilities:

• Collaborate with RBI researchers on projects that provide policy inputs and contribute to publications in top-tier economics and finance journals.
• Assist in compiling accurate and timely data, utilizing analytical, statistical, and econometric tools necessary for research projects.
• Potentially transition into writing research and policy articles of high quality.

Placement

Interns will be placed in one of the four key departments of RBI:

1. Department of Economic and Policy Research (DEPR)
2. Department of Statistics and Information Management (DSIM)
3. Strategic Research Unit (SRU)
4. International Department (ID)

Eligibility and Qualifications

Department-wise Eligibility:

• DSIM: Post Graduate in Statistics, Econometrics, Economics, or B.E./B.Tech. (Computer) or MBA (Finance)
• DEPR: Post Graduate in Economics, Banking, Finance, or MBA (Finance)
• SRU: B.Tech./B.E. or Post Graduate in Economics, Finance, Statistical Science, or related fields. Programming skills or an aptitude to acquire them is essential.
• ID: Post Graduate degree in Economics, Statistics, Finance, International Finance, International Trade, or MBA with a specialization in finance, Banking, or International Relations.

Desirable Qualifications:

• Proficiency in applied econometrics and quantitative techniques.
• Familiarity with econometric software such as Stata, Eviews, Matlab, R, or Gauss.

Application Process

Selections are conducted twice a year, and the internship begins on January 1st or July 1st each year. The application windows are open during the first five months of the preceding half-year (July-November for January start; January-May for July start). Candidates are encouraged to submit their CV, References, and a Statement of Purpose along with a completed application form to the email ID of their desired department.

Selection Method: Candidates will be shortlisted based on their CV, References, and Statement of Purpose. Shortlisted candidates will be invited for a personal interview.

Duration and Conditions

• The internship lasts for six months, with the possibility of extension based on the intern’s performance and the department’s needs.
• Exceptional performers may have their internships extended for a total duration of up to two years, subject to six-month renewals.
• Interns are required to complete the initial six months and must serve a one-month notice period if they choose to terminate the internship early. Failure to do so will result in a penalty equivalent to one month’s stipend.

Facilities and Compensation

• RBI will provide office space, internet connectivity, and other support facilities.
• A stipend of ₹45,000 per month will be paid to the interns.
• Interns are entitled to 12 days of leave for every six months, calculated on a pro-rata basis.
• Interns must arrange their accommodation.

Declaration of Secrecy

Interns must sign a declaration of secrecy before starting the internship.

No Right of Appointment

Participation in the internship does not entitle interns to future employment at the RBI.

Apply Online Link: Click Here to Apply Online

Conclusion

The RBI Research Internship is a prestigious program that offers young individuals a rare chance to contribute to central banking research while gaining valuable experience. It is an excellent stepping stone for those aiming to pursue advanced studies or careers in economics, finance, or related fields.

For more details, interested candidates should visit the official RBI website or contact the respective departments directly.