RBI's Young Scholars Award Scheme 2012

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 award 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 in 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. 7500/- per month during the duration of the project. RBI will assist outstation awardees in boarding and lodging. The awardees 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 are not eligible to apply again. 

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. There is no application fee. The selection test will be held on January 29, 2012 at various centres across India. The results of the selection test will be announced in the first week of April 2012. Desirous candidates may submit applications only by the online mode. Last date for receipt of applications is December 16, 2011.

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 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 again.

(B) Age: Candidates should be of age 18 years or more but less than 23 years as on September 1, 2011.

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. The indicative 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.

BOOKS FOR  RBI's Young Scholars Award Scheme 2012

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.

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 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.
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.

 Application Form

10. Last Date for Receipt of Application

The application should be filed online before December 16, 2011.

11.Call Letter for the Written Test
Call letters for the written test to be held on January 29, 2012 can be downloaded from the RBI website on or after January 12, 2012. Call letters will not be dispatched by post or courier. To download the call letter candidates should know their application registration number which will also be sent by e-mail to the candidates who provide a valid email-id. Call letters can be downloaded from RBI’s website by entering the registration number & password or date of birth.. After downloading of the call letter a recent photograph should be pasted on the call letter and signed across by the candidate before appearing for the examination. Three copies of the same photograph affixed on the call letter should be retained for use at the time of written examination. Candidates are advised not to change their appearance till the selection process is complete. Failure to produce the same photograph at the time of written test may lead to disqualification.