Objective
The research Internship scheme provides an opportunity for young individuals to expose themselves to cutting-edge research in central banking. It best suits individuals who have been in college relatively recently and wish to move on to pursue Ph. D. in Economics, Banking, Finance, or related fields, or to positions in government research institutions, or financial institutions that require a quantitative and analytic orientation.
Role Description
The opportunity will be open to domestic as well as foreign students. Strong motivation is critical. Our work environment will give candidates many opportunities to learn and participate in research. Candidates should be keenly interested in our core areas of research and be able to derive benefit from our work in these areas.
The Intern
- Will assist and collaborate with RBI researchers on projects to provide policy inputs and papers targeted for publication at quality economics and finance journals.
- Will assist in compiling accurate and timely data and assist with the relevant analytical, statistical, and econometric tools necessary to execute the research projects.
- May transition to writing research and policy articles of good quality.
Qualification / Experience
Eligibility
- DSIM : Post Graduate in Statistics / Econometrics / Economics or B.E. / B.Tech. (Computer) or MBA (Finance)
Desirable Qualification
- Proficiency in applied econometrics and quantitative techniques; familiarity with some econometric software (e.g. Stata / Eviews / Matlab / R / Gauss).
Work Experience: Not a pre-requisite.
Mode of Application
- Selections will be done twice a year depending on RBI’s requirements in a manner that the internship commences from the 1st of January or the 1st of July of the year concerned. The application window will remain open during the first five months of the preceding half-year. To illustrate, applications for internships commencing from 1st of January onwards will be accepted during July-November of the previous year and will be examined in December of the previous year. Likewise, application for internship commencing from 1st of July onwards will be accepted during January- May and will be examined in June of the same year.
- The applications of the candidates are valid only for the applied batch (i.e 1st January / 1st July) and the same will not be considered for the subsequent batch. Candidates who were not selected earlier, if interested, are requested to apply afresh when the application window for the next intended batch commences.
- The candidate will be shortlisted by the Bank based on their CV, References, and Statement of Purpose and will be called for a personal interview. Interested candidates are encouraged to send their CV, References, and Statement of Purpose along with duly filled application form to the email-id of the specific department desired by the applicant.
- Incomplete applications and applications without CV, References, and/or Statement of Purpose are liable to be rejected.
- References may be obtained from the faculty members of the related colleges/institutions of the respective applicants.
Duration
- The internship will be for a period of 6 (six) months extendable for another 6 (six) months based on the needs of the unit and the performance of the intern. Exceptional performers might be considered for further extension (total internship period may be for a maximum period of two years with a provision for renewal every six months).
- The intern should necessarily complete the 6 months internship period after selection and if he/she decides to terminate the same, a notice period of at least one month must be served. If under any circumstances, the intern is unable to serve the notice period he/she would have to pay an amount equivalent to one month’s stipend.
- The internship is based in Mumbai, India.
- Reserve Bank reserves the right to terminate the internship with a notice period of one month without giving any reason.
Facilities Provided
- RBI will provide office space, internet connectivity, and other support facilities to the interns.
- RBI will pay a stipend of ₹ 45,000/- (Forty-Five Thousand only) per month.
- The interns will be entitled to leave at the rate of 12 days per six months (leave will be calculated on a pro-rata basis for any fractional period) and any absence beyond the above period will be treated as leave without compensation.
- Interns will be required to make accommodation arrangements of their own.
Declaration of Secrecy
- Interns are required to furnish to RBI a declaration of secrecy in the prescribed format before the commencement of the internship.
- No Right of Appointment
- The interns shall have no right/claim for an appointment in the Reserve Bank of India by virtue of their internship.
Method of Selection
- The Bank would select a maximum of 20 interns every year.
Department of Statistics and Information Management (DSIM)
- Collection, processing, and analysis of data on banking, corporate and external sectors.
- Planning, designing, and organizing quick sample surveys regularly for areas of interest to the Reserve Bank.
- Maintaining the Reserve Bank’s Data Warehouse and disseminating data/information.
- Modeling and forecasting of important macroeconomic indicators.
- Development of methodology for the measurement and estimation of variables and improvement of the database of various sectors of the economy through participation in committees, working groups, etc.
- Providing technical support to other departments of the Reserve Bank in statistical analysis in specific areas and undertaking studies in the areas of interest to the Reserve Bank.
- Building technology-driven centralized information management of receipt, processing, production, storage, and retrieval of data and its dissemination system based on data warehousing approach. The system provides the decision-makers, analysts, and researchers, online and real-time access to a central repository of clean and consistent historical and current data.
- Standardization in reporting of financial data under XBRL, which is being integrated with the data warehouse, and is envisaged to be the only platform for receiving and validating the incoming data in due course.
- Developing a statistical system for maintaining data quality.
- Bringing out Reserve Bank’s data publications directly from the data warehouse.
- Undertaking forward-looking surveys on macroeconomic changes and expectations for monetary policy formulation. Conducting other periodic surveys to fill data gaps on relevant indicators, e.g., housing, employment placement for fresh graduates, etc.
- Improving the coverage of studies relating to finances of the private corporate sector of the economy.
- Generation of forecasts of macroeconomic variables and related empirical work, including developing a quarterly macro-econometric model for forecasts and policy simulation.
- Undertaking analytical studies using various statistical, econometric, and operational research techniques which are relevant for the Reserve Bank.
- Communication Address: Adviser-in-Charge, Department of Statistics and Information Management, Reserve Bank of India, C-8/9, Bandra-Kurla Complex, Bandra, Mumbai 400 051.