India’s central bank and regulatory body responsible for the regulation of the Indian banking system, The Reserve Bank of India is inviting applications for internships.
RBI 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.
- Additionally, the interns 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 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 mentioned in this document under Method of Selection.
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 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.
Mode of Application
- Selections will be done twice a year depending on RBI’s requirements in a manner that the internship commences from 1st of January or 1st of July of the year concerned.
- Application window will remain open during first five months of the preceding half-year. To illustrate, 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 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.
- Candidate will be shortlisted by the Bank based on their 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.
- Incomplete applications and applications without 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.
Method of Selection
- The Bank would select a maximum of 10 interns every year.
- Placements would be in three departments of RBI namely DEPR / DSIM / SRU.
- Interested candidates as per their choice of area of research should apply directly to the concerned department at the address as mentioned below with CV, References and Statement of Purpose.
- Candidate will be shortlisted by the Reserve Bank based on their CV, References and Statement of Purpose and will be called for personal interview.
- The details of each of the departments (DEPR/DSIM/SRU) is mentioned below.
Department of Economic and Policy Research (DEPR)
- The Department of Economic and Policy Research undertakes policy supportive research under a structured research agenda on macroeconomic issues specifically in the areas of monetary policy, financial markets, forecasting of macroeconomic variables, financial stability, and external sector management.
- The primary statistics on monetary aggregates, balance of payments and external debt, flow-of-funds, financial savings and state finances are compiled in the Department, which are disseminated by the Reserve Bank through print and electronic media.
- The Department is responsible for publishing the statutory Annual Report of the Reserve Bank. The History of the Reserve Bank is also published by the Department. Other regular publications of the Reserve Bank brought out by the Department include State Finances: A Study of Budgets of State Governments, RBI Monthly Bulletin and Weekly Statistical Supplement.
- The Department supports and encourages research environment in the country through its Research Chairs, Fellowships and sponsoring of research projects and studies.
Communication Address
Principal Adviser
Department of Economic and Policy Research
Reserve Bank of India
7th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.
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