About Reserve Bank of India
The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.
Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India
About Summer Placements Opportunity at RBI
The summer placements afford an opportunity to domestic and foreign students to expose themselves to an actual central banking environment and undertake projects on the issues relevant to the Central Bank with the guidance from experts and professionals in the Central Bank.
Who can apply?
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.
Declaration of Secrecy
Summer trainees are required to furnish a declaration of secrecy to the Bank before reporting for the internship.
Normally the period of placement will be for a maximum of three 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’.
Summer trainees are eligible to receive a monthly stipend of Rs. 20,000/- per month. Outstation trainees will be required to make accommodation arrangements on their own.
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.
06th December 2021
How to apply:
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 06th December of the previous year for an internship starting from April of next year.
For Official Website Click Here
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