The Reserve Bank of India (RBI) invites applications from eligible candidates [Both domestic and foreign] for Summer Placement in various Offices of the Bank.
Who can apply?
Students pursuing a) post-graduate courses b) Integrated five-year courses in Management / Statistics / Law / Commerce / Economics / Econometrics / Banking / Finance c) Three-year full time professional bachelor’s degree in Law from reputed Institutions / Colleges located in India. Students who are currently in the penultimate year of their course can only apply for the summer placement.
How to apply?
Eligible students should apply for summer placement through the online web-based application form from 15th October to 15th December of the previous year for internship starting from April of next year. The candidates shall ensure that they correctly mention the state in which their college/ institute is located.
General Rules/ Instructions to candidates
Candidates can apply for only one Control Office and will be considered for the summer placement at the centre as per their college/ institute’s location. For example, candidate studying in college/ institution located in Maharashtra/ Goa/ Daman & Diu/ Dadara & Nagar Haveli can apply for Mumbai centre only.
Candidates need not submit/ send at any address, application printouts or any certificates or copies thereof at the time of online application. Their candidature will be considered on the strength of the information declared in the application. If at any stage, it is found that any information furnished in the online application is false/ incorrect or if according to RBI, the candidate does not satisfy the eligibility criteria, his/ her candidature is liable to be cancelled.
All educational qualifications should have been obtained from recognized universities/institutions in India. Candidate should indicate the percentage obtained in Graduation calculated to the nearest two decimals in the online application. Where CGPA/ SGPA is awarded, the same should be converted into percentage and indicated in online application. If asked for document verification, the candidate will have to produce a certificate issued by the appropriate authority inter alia stating the norms of the University/Institution regarding conversion of grade into percentage and the percentage of marks by the candidates in terms of norms.
Candidates are advised in their own interest that they should not furnish any particulars that are false, tampered with or fabricated and should not suppress any material information while submitting online application.
RBI shall not entertain requests from the candidates seeking advice about their eligibility to apply.
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Selection
The Bank will select a maximum of 125 students for summer placement every year. In the month of January / February of the following year, the interview for the short-listed candidates will be held at the offices as indicated. The short-listed outstation candidates will be required to bear the travel costs of journey to the office of RBI and back for this purpose. Names of selected students will be communicated in the month of February / March.
Selected outstation candidates will be reimbursed AC II Tier return fare by rail (or equivalent amount) from the place of his/her institute to the place of summer placement for undertaking the project.
Declaration of Secrecy
Summer trainees are required to furnish a declaration of secrecy to the Bank before reporting for the internship.
Duration
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 at the centre corresponding to the state of their institute, as per the table given above.
Facilities
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.
Link to apply: https://opportunities.rbi.org.in/scripts/ApplicationForm.aspx
Official website: https://opportunities.rbi.org.in/scripts/summer.aspx#dost
Good luck!
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By Parishkriti Atri
Parishkriti is a legal recruiter and a career coach. In her free time, she loves napping and gorging on chinese food.
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