For young adults interested in the Indian banking sector, its financial environment and in the country’s monetary regulator — the Reserve Bank of India, here is a golden opportunity. The Reserve Bank of India (RBI) is offering the RBI Young Scholars Award Scheme to imbibe among the country’s youth a sense of pride in being associated with the prestigious banking institution.
Students who have completed their 10 + 2 years or equivalent and are pursuing their undergraduate studies are eligible. However, those enrolled for or having acquired degree(s) higher than graduation are not eligible. Further they should be between 18-23 years of age as on December 1, 2008.
The scholarship is awarded to a maximum of 150 young students annually. Of these, a maximum of 50 are selected through tests conducted in English. The other 100 are awarded on a regional basis through tests conducted in their respective vernacular medium. Besides English, the entrance examination is conducted in Hindi and 11 other regional Indian languages.
The examination to be held at around 100 different locations spread across the country, is of objective type with multiple choices for answers and of 90 minutes duration. Questions will be related to the role and functioning of the RBI, trend of the banking industry in India and general economic and financial environment of the country.
Aspirants keen on appearing for the examination can take the help of material available on the RBI website www.rbi.org.in/youngscholars to prepare for it. The last two issues of the Report on Currency & Finance, Report on Trend & Progress of Banking in India and Annual Report of RBI and other documents form part of the syllabus from which questions will be based.
On selection, candidates will be placed at the nearest RBI Regional Office depending on the size of the said office.
The selected candidates will be required to work within RBI on projects/assignments allocated to them by respective regional director/head of central office department of RBI and must complete it in a reasonable time, subject to maximum of three calendar months.
During their stint they will be paid a consolidated monthly stipend of Rs 7,500 per head. During their stay with RBI, selected scholars who do not have a place to reside at the centre of placement will be assisted with accommodation for the duration.
Candidates can apply in the prescribed application form available on www.rbi.org.in/youngscholars either online/offline. Candidates should have a valid e-mail ID. After applying online, registered candidates should obtain a system generated printout of the registered information and sign at the appropriate place. A recent photograph should be pasted on the print-out and sent along with attested copies of certificate to: Project Coordinator, RBI Young Scholars Award Scheme, PO Box 9055, Goregaon (East), Mumbai - 400063. The envelope must be superscribed with ‘Application for the RBI Young Scholars Award Scheme 2008-09.’
