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. 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.
(A) Educational Qualification: All students across India who have completed 10 + 2 years of formal education or its equivalent from recognized institutions/boards in 2011 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.
(B) Age : Candidates should be of age 18 years or more but less than 23 years as on September 1, 2011.
All students, between 18 and 23 years of age, currently pursuing their undergraduate studies in any subject under any recognized university in India, are eligible to take the competitive examination.
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.
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. Theindicative 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.aspx
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 minimum of 2 months and a maximum of 3 calendar months.
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.
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 online using the link http://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.
10. Last Date for Receipt of Application
The application should be filed online before December 16, 2011.
Reserve Bank of India Scholarship - RBI Young Scholars Award Scheme 2012