RBI Young Scholars Award Scheme

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Areas of Study :
Banking and Finance
Level :
-
Scholarship Funded by :
Reserve Bank of India (RBI)
Provided to :
Young Scholars through a country

The Reserve Bank of India (RBI) has launched the RBI Young Scholars Award Scheme to generate interest in and awareness about the Indian banking sector and RBI. 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 organization, the central bank of the country. Under the scheme, the RBI will select a maximum of 150 young scholars through a countrywide competitive examination and awarded a scholarship.

Selection test will focus on the role and functions of RBI and banks in India and will be held in English as well as all major regional languages. Selected candidates will be required to work on projects in select offices of RBI for 2 to 3 months and will be paid a consolidated stipend of Rs 7,500/- per month during the duration of the project. RBI will assist outstation awardees in boarding and lodging. The awareness shall have no right/claim for an appointment in the RBI. Any candidate who had qualified and worked at RBI under the RBI Young Scholar Award Scheme in any of the previous years need not apply again.

Eligibility

Educational Qualification: All students across India who have completed 10 + 2 years of formal education or its equivalent from recognized institutions/boards 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.

Age : Candidates should be of age 18 years or more but less than 23 years as on September 1, of the previous year.

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.

Application Procedure

Candidates willing to apply for the scholarship may apply online using the link www.rbi.org.in/youngscholars.aspx There is no fee for application or examination. Applications sent through any other mode such as by post or courier etc will not be accepted.

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 preserve the same to enable generation of call letters online.

Exam Details

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.

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.

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.aspx

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 minimum of 2 months and a maximum of 3 calendar months.

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.

Tags

banking career , bank scholarship

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