To encourage learning about the Reserve Bank of India (RBI) - the central bank of India, among the youth of the country, RBI has decided to launch ‘RBI Young Scholars Award Scheme’. The purpose of the scheme is to expose youngsters to an actual banking and financial environment and also to inculcate 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 and have passed at least 1st year of their graduate degree in 2008 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.

(B) Age : Candidates should be of age 18 years or more but less than 23 years as on September 1, 2008.

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 List of languages is given below. The exam will be held at around 100 different locations spread all across the country. The List of Centres is given below

4. Examination Pattern and Syllabus

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

Candidates willing to appear for the exam may take help of the material available on RBI Website www.rbi.org.in/youngscholars. The RBI’s Annual Report for the year 2007-08 and the Report on Currency & Finance 2006-08 will form part of the syllabus.

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/Head of Central Office Department of the 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 www.rbi.org.in/youngscholars 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. 8162,
Post Box No: 27672
Malad (E),
Mumbai- 400 097.

(B) Guidelines for filling Application Offline

 

• Go to the website www.rbi.org.in/youngscholars
• Download the application form for off-line mode.
• Fill the form completely and paste your photograph at the appropriate place, sign at appropriate space and attach attested copies of all the relevant documents.

Project Co-ordinator
RBI Young Scholars Award Scheme
Project No. 8162,
Post Box No: 27672
Malad (E),
Mumbai- 400 097.

Superscribe the envelope ‘Application for the RBI Young Scholars Award Scheme 2008-09′.
All applications - sent online or offline - should be sent to the given address by ordinary post only.

10. Last Date for Receipt of Application

The application and/or print-outs of application made online should reach the address mentioned above before October 24, 2008 by ordinary post. For the candidates staying abroad and for those posting print-out from Andaman & Nicobar Islands, Lakshadweep, Minicoy Islands, Assam, Meghalaya, Arunachal Pradesh, Mizoram, Manipur, Nagaland, Tripura, Sikkim, Ladakh Division of J & K State, Lahaul and Spiti District and Pangi Sub-Division of Chamba District of Himachal Pradesh, the last date for receipt of Print-out will be October 31, 2008. A print-out received after the last date will not be entertained.

The Reserve Bank of India/Institute of Banking Personnel Selection (IBPS) will not be responsible for any loss of application/print-out in transit or for rejection of application print-out because of non-receipt of print-out on or before the stipulated date.

11. List of Centres