Summer Internship (Rolling Intake)

About Reserve bank of India

India’s central bank is responsible for issuing currency, extending credit to the government, regulating the commercial banking sector, and assessing the country’s economic health. It is best known for being the central financial authority in India. Their vision is to promote the integrity, efficiency, inclusiveness, and competitiveness of the financial and payments system; To ensure efficient management of currency as well as banking services to the Government and banks; and. To support the balanced, equitable, and sustainable economic development of the country.

Your role

The summer placements allow 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 guidance from experts and professionals in the Central Bank.

Role of Institutions:

• Reputed Institutes/Colleges located in India offering Masters in Business Management (MBA/MMS) / Economics / Econometrics / Finance / Banking / Statistics / Commerce / or full-time professional Bachelor’s degrees in Law may forward the applications of eligible/interested students to the respective "Control Offices of Reserve Bank of India" as given below with the recommendations in the prescribed form.

Training & development 

• 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.

Salary & benefits

• Summer trainees are eligible to receive a monthly stipend of INR 20,000/- per month.
• Outstation trainees will be required to make accommodation arrangements on their own.

Career progression

Standard fresher jobs can be rare at the RBI, but junior roles can occasionally be found posted on their websites. However, applicants who get in will find themselves in a comfortable job. Employees who work 9 - 5, are given comfortable benefits and reasonable pay. Working in a central bank is great exposure to many parts of the economy, which is a great chance to learn. It’s known throughout the country and is a respectable workplace. The staff are professional and accommodating to freshers. Even as a Manager, you are on top of your peers in the financial world. As you grow in the organization, you could occupy some of the highest and most demanding positions in the financial world.

Work-life balance

At RBI India, you find a good learning environment. The staff is very cooperative and helpful. It has a diverse and inclusive work culture. A work environment that is conducive to achieving excellence.

Culture & vibe

You get an opportunity to work on a wider canvas of operations, you are involved in the formulation of policies having nationwide implications. You get multi-disciplinary job content and an opportunity to contribute to nation-building. Interact with some of the best minds in the government and the financial institutions while at work and build lasting relationships among the RBI fraternity at home.

About you

To apply for the Summer internship you must have the following eligibility criteria;

• Students pursuing Post-graduate courses
• 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.

How to apply

To know more about how to apply and when to apply, simply click on the "Apply on employer site" button below, which navigates to the career page where you can get more information.

For Domestic Students

• 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 an internship starting from April of next year. The candidates shall ensure that they correctly mention the state in which their college/ institute is located.

Selection:

• The Bank will select a maximum of 125 students for summer placement every year. In January / February of the following year, the interview for the short-listed candidates will be held at the offices indicated above. 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 February / March.
• 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.

Declaration of Secrecy:

• Summer trainees are required to furnish a declaration of secrecy to the Bank before reporting for the internship.

For Foreign Students

Eligible students should fill out the application in the prescribed form on the website and mail it to the address given below.

The Chief General Manager
Reserve Bank of India
Human Resource Management Department (Training & Development Division),
Central Office, 21st Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai – 400 001

An advance copy of the application can be emailed to the email id given on the website.

Applications should be forwarded to the above address between 1st November and 31st December, of the previous year for an internship starting from July of next year. Applications received after this date will not be considered.