About the Reserve Bank of India
The Reserve Bank of India is India’s central bank and regulatory body under the jurisdiction of the Ministry of Finance, Government of India. It is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.
About the Summer Placements-Internship
RBI (Reserve Bank of India) is inviting applications for its Summer Placement Internship Opportunity for 2021, the intake of which is 125 students.
Intake
125
Eligibility
Students pursuing
a) post-graduate courses
b) Integrated five-year courses in Management/Statistics/Law/ Commerce/Economics/Econometrics/Banking/Finance or three-year full-time professional Bachelor’s degree in Law from reputed Institutions/Colleges located in India can apply for summer placement during their penultimate year/semester.
Application procedure
Eligible students should apply for summer placement through the online web-based application form through their respective institutes to the “Control Offices of Reserve Bank of India”, from 15th September to 31st December of the previous year for an internship starting from April of next year.
Reputed Institutes/Colleges located in India offering Masters in Business Management (MBA/MMS)/Economics/Econometrics/Finance/Banking/Statistics/Commerce/or full-time professional Bachelor’s degree in Law may forward the applications of eligible/interested students to the respective ‘Control Offices of Reserve Bank of India‘ as given below with the recommendations in the prescribed form.
Selection Process
- The Bank will select a maximum of 125 students for summer placement every year.
- In the month of November/December each year, the interview for the shortlisted candidates will be held at the offices indicated above.
- The shortlisted outstation candidates will be required to bear the travel costs of the journey to the office of RBI and back for this purpose.
- Names of selected students will be communicated to the institutes in the month of December/January.
- Selected outstation candidates will be reimbursed AC II Tier/1st Class return fare by rail from the place of his/her institute to the place of summer placement for undertaking the project.
Duration
Normally the period of placement will be for a maximum of 3 months during the period from April to July.
The period may be reduced/extended at the discretion of the Bank.
Place of Summer Training
Summer trainees will be required to undertake the project in various Central Office Departments in Mumbai or the respective Control Offices mentioned above under the Para ‘Role of Institutions’.
Stipend
Summer trainees are eligible to receive a monthly stipend of ₹ 20,000/- per month.
Outstation trainees will be required to make accommodation arrangements on their own.
