Interns will be placed in four key departments of RBI:

Department of Economic and Policy Research (DEPR)

Department of Statistics and Information Management (DSIM)

Strategic Research Unit (SRU)

International Department (ID)

Selections occur biannually, aligning with RBI’s requirements to commence internships on 1st January or 1st July. The application window remains open for the first five months of the preceding half-year. For instance, applications for internships starting from 1st January will be accepted from July to November of the previous year, with evaluations conducted in December. Similarly, applications for internships starting from 1st July will be accepted from January to May, with evaluations in June of the same year.

Applications are valid only for the applied batch and not considered for subsequent batches. Candidates not selected previously are encouraged to reapply for the next intended batch.

Candidates will be shortlisted based on their CV, references, and Statement of Purpose, followed by a personal interview. Interested applicants should submit their CV, References, Statement of Purpose, and duly filled application form to the email address of the desired department.

Incomplete applications or those lacking CV, References, and / or Statement of Purpose will be rejected. References may be obtained from faculty members of relevant colleges / institutions.

Desirable Qualification

Proficiency in applied econometrics and quantitative techniques.

Familiarity with econometric software (e.g., Stata / Eviews / Matlab / R / Gauss).

The internship program spans six months initially, with the possibility of extension for another six months based on unit requirements and intern performance. Exceptional performers may merit further extension, allowing for a maximum internship period of two years with the option for renewal every six months.

Interns must complete the initial six-month period following selection. In the event of termination, a notice period of at least one month is mandatory. Failure to serve the notice period necessitates payment equivalent to one month's stipend.

The internship is based in Mumbai, India.

The Reserve Bank reserves the right to terminate the internship with a one-month notice period without providing any specific reason.

Facilities Provided

RBI offers interns office space, internet connectivity, and additional support facilities.

Interns receive a stipend of ₹45,000 per month.

Interns are entitled to 12 days of leave per six months (leave is prorated for fractional periods), with any absence beyond this period considered as leave without compensation.

Accommodation arrangements are the responsibility of the interns.

Declaration of Secrecy
Interns must submit a declaration of secrecy in the prescribed format to RBI before commencing their internship.

No Right of Appointment
Interns do not have any claim or right to appointment within the Reserve Bank of India as a result of their internship.

a) Department of Economic and Policy Research (DEPR)
The DEPR conducts policy-supportive research on macroeconomic issues, focusing on monetary policy, financial markets, macroeconomic forecasting, financial stability, and external sector management. It compiles primary statistics on monetary aggregates, balance of payments, and external debt, among others. Additionally, it publishes the statutory Annual Report of the Reserve Bank, alongside other regular publications like the RBI Monthly Bulletin. The department fosters a research environment through Research Chairs, Fellowships, and sponsorship of research projects.
Communication Address: Principal Adviser, DEPR, Reserve Bank of India, 7th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai-400 001.

b) Department of Statistics and Information Management (DSIM)
DSIM is responsible for data collection, processing, and analysis on banking, corporate, and external sectors. It conducts sample surveys, maintains the RBI's Data Warehouse, and models and forecasts macroeconomic indicators. DSIM also provides technical support to other departments, develops statistical methodologies, and conducts forward-looking surveys on macroeconomic changes.
Communication Address: Adviser-in-Charge, DSIM, Reserve Bank of India, C-8/9, Bandra-Kurla Complex, Bandra, Mumbai 400 051.

c) Strategic Research Unit (SRU)
SRU produces high-quality policy notes, papers, and research papers, addressing management queries and surveillance needs. It also publishes a Monthly Economic Monitor reviewing macroeconomic and financial sector developments. The unit contributes to the global policy agenda by providing research-based analytical inputs on contemporary themes.
Communication Address: Director, SRU, Reserve Bank of India, 8th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai-400 001.

d) International Department
The International Department serves as the focal point for international financial diplomacy. It engages with international organizations and multilateral bodies, focusing on global macroeconomic and financial market developments, as well as financial regulatory reforms. The department undertakes policy-supportive research to support India's positions on global policy issues.
Communication Address:Adviser-in-charge, International Department, Reserve Bank of India, 8th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai-400 001.

Method of Selection

The Reserve Bank selects a maximum of 20 interns annually.

Placements are available in four departments: DEPR, DSIM, SRU, and ID.

Interested candidates should apply directly to their preferred department, providing their CV, references, and Statement of Purpose.

Candidates will be shortlisted based on their CV, references, and Statement of Purpose, and selected individuals will be invited for a personal interview.

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