Reserve Bank of India provides internships to students of economics, statistics, econometrics, or B.E/B.Tech. (Computer) and MBA in Finance. The internship provides an opportunity to get an insight of the inside workings of the central bank. Students who want to pursue Ph. D in Economics, Finance, Banking, or any other related fields, or wish to work with the government institutions involving research, quantitative and analytic skills. This exposure may also help students who want to join with private sector banks, private research companies where quantitative skills required. Interns can get exposure in areas such as external debt, flow-of-funds, balance of payments, financial savings, state finances, financial markets, forecasting of macroeconomic variables, monetary policy, and external sector management.
Both domestic and foreign students can apply for the RBI internship. Interns assist in collecting data, help with econometric, analytical, and statistical tools necessary for executing the research projects.
Educational qualification for RBI internship:
Post Graduate in Econometrics, Economics, Statistics, B.E. / B. Tech. (Computer), MBA (Finance), Computer or Data Analytics, Banking .
Work experience is not a pre-requisite for this internship.
The candidates are called for the personal interview on the basis of the information given in their CV, References and Statement of Purpose. The candidates who perform well in the interview get an opportunity to work with the apex bank.
Duration of RBI internship:
The duration of the internship is six months and it is extendable for two years with a provision for renewal at the end of every six months.
The selected candidates for the RBI internship are provided a stipend of Rs 35,000 per month.
Interns can use RBI office space, internet connectivity, and other facilities during their internship period. They are also entitled to leave for 12 days in six months. However, RBI will not provide accommodation to the intern.
The interns are employed in five RBI departments – Department of Statistics and Information Management (DSIM), Financial Stability Unit (FSU), Department of Economic and Policy Research (DEPR), Strategic Research Unit (SRU), International Department (ID), and Financial Stability Unit (FSU).
Advertisement regarding this internship is published in leading newspapers in January or February every year for the July session and for the January session, notification comes around August-september. This year, the last date for the application submission was March 31, 2019. Internship starts from January 1 or July 1 of every year.