RBI Young Scholars Award Scheme

To encourage learning about the Reserve Bank of India (RBI) among the youth of the country, the RBI conducts a major awareness and sensitization exercise on the role of the Reserve Bank and the banking system across the country. This exercise, ‘RBI Young Scholars Award Scheme’ exposes youngsters to an actual banking and financial environment and inculcates a sense of pride in the selected ones of having had the opportunity to associate themselves with a prestigious organisation, the central bank of the country.

1. Eligibility

(A) Educational Qualification: All students across India who have completed 10 + 2 years of formal education or its equivalent from recognized institutions/boards in 2010 or before and are currently pursuing their undergraduate studies. However, those having enrolled for or having acquired degree(s) higher than graduation will not be eligible. Candidates who have qualified and worked at RBI as a Young Scholar in any of the previous years are not eligible to apply again.

(B) Age: Candidates should be of age 18 years or more but less than 23 years as on September 1, 2010.

2. Number of Seats

A maximum of 150 young scholars would be awarded scholarship by the RBI every year under the scheme. Out of these, a maximum of 50 candidates may be selected through a test conducted in English medium. The rest, up to a maximum number of 100, shall be selected on regional basis through a test conducted in vernacular medium.

3. Entrance Examination

The entrance exam will be conducted in English, Hindi and 11 other regional languages. The regional languages will be Assamese, Bengali, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Tamil, Telugu and Urdu. The exam will be held at around 100 different locations spread all across the country. The indicative List of Centres is given in this notification.

4. Examination Pattern

The examination will be of objective type with multiple choices for answers. The paper will be of approximately 90 minutes duration and will have questions related to role and functioning of the RBI, the trend of banking industry in India and general economic and financial environment of the country.

5. How to prepare for the Exam

All related information including the syllabus for the examination is available on the RBI Website link www.rbi.org.in/youngscholars.

6. Placements and Project Assignment

The selected All India candidates and the Regional Candidates will be placed at the nearest Regional Office designated for the purpose, depending on the size of the office. The selected candidates will be required to work within the RBI on projects/assignments allocated to them by the respective Regional Director of RBI. They will be expected to complete the same in a reasonable time, subject to a maximum of 3 calendar months.

7. Stipend

During their stint with the RBI, they will be paid a consolidated monthly stipend of Rs.7500/- per head. For broken periods, the amount will be calculated on a pro rata basis.

8. Accommodation

During their stay with the RBI, the selected scholars who do not have a place to reside at the centre of placement will be assisted with accommodation for the duration of their project.

9. How to Apply

Candidates willing to apply for the scholarship may apply in the prescribed application form available on http://www.rbi.org.in/youngscholars.aspx either on line or offline. There is no fee for application or examination.

(A) Guidelines for Online Application

Candidates should have a valid email ID.
Go to the website and follow the instructions.
After applying online, the 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 the certificate on the address given below :
Project Co-ordinator
RBI Young Scholars Award Scheme
Project No.9277,
Post Box No:7639
Malad (W),
Mumbai- 400 064.

More details at:
http://www.rbi.org.in/YoungScholars.aspx