RBI Summer Internship Scheme 2024 [Stipend Rs 20K, Multiple Locations, 125 Seats]: Apply by Dec 15

About RBI

The Reserve Bank of India, abbreviated as RBI, is India’s central bank and regulatory body responsible for the regulation of the Indian banking system. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issuing and maintaining supply of the Indian rupee.

About the Opportunity

The Reserve Bank of India (RBI) invites applications from eligible candidates for Summer Placement in various Offices of the Bank.

Eligibility

Students pursuing a) post-graduate courses
Integrated five-year courses in Management / Statistics / Law / Commerce / Economics / Econometrics / Banking / Finance
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.

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, candidates studying in a college/ institution located in Maharashtra/ Goa/ Daman & Diu/ Dadara & Nagar Haveli can apply for the 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 a percentage and indicated in the 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 the conversion of grades into percentages 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 an online application.
RBI shall not entertain requests from the candidates seeking advice about their eligibility to apply.

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 the 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.

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.

Locations

Maharashtra, Goa, Daman & Diu and Dadara & Nagar Haveli
Gujarat
Karnataka
M.P., Chattisgarh
Odisha
Haryana & Punjab
Tamil Nadu & Pondicherry
All North Eastern States
Andhra Pradesh
Rajasthan
Jammu & Kashmir
Uttar Pradesh
West Bengal & Andaman & Nicobar Islands
New Delhi & Himachal Pradesh
Bihar & Jharkhand
Kerala & Lakshadweep
Uttarakhand

Instructions for Filing Online Application Form

Please note that all the particulars mentioned in the online application including the Name of the Candidate, Date of Birth, Address, Mobile Number, Email ID, Centre of summer placement etc. will be considered final and no modifications will be allowed after submission of the online application form. Candidates are hence requested to fill in the online application form with the utmost care as no correspondence regarding change of details will be entertained. RBI will not be responsible for any consequences arising out of the furnishing of incorrect and incomplete details in the application or omission to provide the required details in the application form.
An online application which is incomplete in any respect such as without a photograph, signature and College authorization letter/ Bonafide certificate uploaded in the online application form will not be considered.
Candidates are advised in their own interest to apply online much before the closing date and not to wait till the last date to avoid the possibility of disconnection/inability/failure to log on to the RBI website on account of heavy load on the internet/website jam.
RBI does not assume any responsibility for the candidates not being able to submit their applications within the last date on account of the aforesaid reasons or for any other reason beyond the control of RBI.
Please note that the above procedure is the only valid procedure for applying. No other mode of application or incomplete steps would be accepted, and such applications would be rejected.

Last Date 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.