Reserve Bank of India (RBI) Scholarship Program Scheme

Reserve Bank of India (RBI) Scholarship Scheme Program 2018 Eligibility Criteria 25K Stipend Teachers Faculty Selection Process Application Form Process Important date

All public sector banks are placed under the Reserve Bank of India. This financial organization is at the apex of all financial bodies and has the power to determine any money related reforms. The central government offers special scholarship for teachers who teach in reputed colleges, from all over India, to join this institute, and take part in financial and economic development related researches.

Launch details

The unique research scholarship scheme, organized under the banner of RBI was announced on the 15^th of May, 2018. It officially marks the beginning of the application process. One can check out the central government’s Economic and Policy Research Department to get more details.

Main benefit of the scheme

Schemes like these will allow the teaches to take a close look at the inner activities of RBI. It will offer students as well as professors a better knowledge about the banking system.
As the scholars get a closer look at the workings of the RBI, they will understand how the organization works, and operates, when it comes to creation and implementation of rules.

Key features of the scheme

Related to Reserve Bank of India – Under this scheme, the scholars will be able to work on subjects, which are closely related to the operations of RBI.
Last date for application – All interested applicants must make sure that the application reaches department by the end of 31^st May, 2018.
Number of scholars – It has been mentioned that the department will not select more than five deserving candidates.
Duration of scholarship – As per the scheme draft, the scholarship scheme will continue for three months. It will start from August 1st, 2018.
For teachers only – Only those candidates will be able to take part in this scholarship scheme, which teach in either colleges or universities.
Stipend for the scholars – They will be entitled to receive a sum of 25,000 for a span of three months.
Other facilities – Among other facilities, each scholar will also acquire an honorary cash reward of 1 lakh. It will be handed over to them once they submit the final report.
Money for food and residence – Some candidates may need to stay in Mumbai during the research work. They will not receive any additional remuneration for meeting those expenses. They will make to make their own fooding and lodging arrangements.

Eligibility for the scheme

Must be an Indian citizen – The first criterion to become a part of this scholarship scheme is to possess Indian citizenship. Only legal Indian citizen have access to apply for this scheme.
Related to economics or finance – The interested candidate must have an academic background that is closely related with finance, economics and such subjects.
Full-time teacher – The scholarship scheme will only select such candidates who have a permanent teaching job in any recognized school or college. He/she must teach economic or finance related subject.
In recognized institute – The institute, where the scholar teaches on a full-time basis must have the registration and affiliation of UGC or AICTE.
Age related criterion – It has been mentioned in the scholarship scheme draft that only those aspirants will be able to submit the application who have not yet crossed the age of 55 years.

Responsibilities of scholars

RBI conducts several research activities. All applicants who are elected for this scholarship scheme must prepare and submit a report that will help the RBI in developing its research based tasks.
When the scholarship scheme is nearing its end, a special seminar will be organized in Mumbai, by the RBI. All scholars need to make a befitting presentation related to their topics.
If the scholar is interested to publish the report in some other journal, then that can only be done if RBI provides its consent.

Paper publishing guidelines

When publishing the report, after the completion of the scholarship scheme, the scholar must put a disclaimer on the report. The message must highlight that all analysis, made in the report are his/her personal opinions. RBI will not take any responsibility of the analysis.
All scholarships will only be able to mention the names of any officials, working in RBI, only if they acquire the permission from the person and the organization.
The applicants may or may not mention “‘RBI Scholarship Scheme for Faculty Members of Academic Institutions 2018” on the published report.
The RBI will not offer any financial aid, for the implementation of the scholarship scheme.

What is the selection process?

Once all the applications reach the respective department, they will be scrutinized.
After this, the selection panel will pick those applications, which have interesting and unique research topics.
Once the final selection of the candidates is over, they will be notified by the department, and will be called for an interview by the section committee.
The department will then announce the names of the applicant who will finally get the opportunity to be a part of this scholarship program, headed by RBI.

How to apply for the scheme?

To be a part of this research-cum-scholarship scheme, interested candidates will have to log on to the official website. From there, they must download the application form.
Once they get the hardcopy of this application form, the applicants must fill it with proper details.
All applicants must send their resume as well as a synopsis of the research subject, on which they desire to work. The synopsis should highlight the main idea, and have a 1000 word description.
The application form, along with the resume, and the synopsis will be sent to the main office of Economic and Policy Research department.
Apart from this hardcopy, the applicants must also upload the scanned version of all these documents, and mail it on the ID deprdrg@rbi.org.in.

Address for sending application

As mentioned in the scheme draft, all applications must be sent to Department of Economic and Policy Research, before the application date closes. The address is:

The Director

Development Research Group

Department of Economic and Policy Research

7^th Floor, Central Office Building

Reserve Bank of India, Fort

Mumbai – 400 001

Reserve Bank of India is under the central government. With the announcement of this scholarship scheme, eligible and deserving candidates will be able to get the encouragement, and exposure that they need to carry out finance related research. More such scheme will play a pivotal role in the development of the nation.