Reserve Bank of India (RBI) has invited applications under the Scholarship Scheme for Faculty Members from Academic Institutions that aims at bringing on board scholars, who would be able to undertake and pursue critical projects successfully and thereby contribute to the Reserve Bank’s research universe. 

The broad objectives of the scheme are: (i) to increase awareness about the activities of the Bank among faculty members and student community and (ii) to provide exposure to faculty members teaching Economics and/ or Finance in different areas/ activities of operations in the Reserve Bank. 

Those selected are expected to undertake short-term research in the areas of monetary and financial economics, banking, real sector issues and other areas of interest to the Reserve Bank. 

Eligibility

Applicants should be Indian nationals who are full-time faculty, teaching Economics and/or Finance in any UGC-recognised Universities/ Colleges in India. Age should be below 55 years. Preference will be given to those who have not been awarded the scholarship earlier. 

The project period will be for a maximum of three months. The scholarship scheme would commence on December 09, 2024. A maximum of five scholarships would be considered for 2024. The Reserve Bank, at its discretion, may vary the number of scholarships in a year. Candidates found suitable would be invited to undertake research on the theme decided by the Reserve Bank. The exact theme of the research for the scholars will be decided by RBI based on the research proposals submitted by the respective candidates. 

Responsibilities

(i) The scholar would be required to submit a research paper/project report that contributes to RBI research activities (ii) The scholar should make a presentation of his/her work in a Seminar to the Reserve Bank (iii) The scholar, if he/she desires to publish his/her research work elsewhere, may do so with prior permission of the Reserve Bank. Guidelines for publishing/presenting the research paper outside RBI after the successful completion of the project, are given in the Notification given at https://rbi.org.in/ (opportunities @ RBI > Scholarship links).

Application

The application format is attached to the Notification. Hard copy of the completed applications may be forwarded to ‘The Director, Development Research Group, Department of Economic and Policy Research, 7th Floor, Central Office Building, Reserve Bank of India, Fort, Mumbai -400001’ to reach latest by November 05, 2024. 

The application should be sent along with detailed curriculum vitae, the research proposal of not more than 1000 words and an official letter from the applicant’s university/ college bearing the official university/ college stamp verifying applicant’s status at the time of application. 

The soft version of application (in addition to hard copy) has to be sent by e mail, the link to which is given in the Notification. Any queries related to the scheme may also be sent to the same email. 

Selection Procedure

The candidates will be shortlisted on the basis of the research proposal and curriculum vitae. The shortlisted candidates will then be interviewed by a selection panel. 

Location of the Scheme: The scheme would be administered by the Department of Economic and Policy Research, Central Office, RBI, Mumbai. The selected candidates will be required to complete the study from their place of work. However, in certain cases, the Reserve Bank may ask the scholar to visit the RBI Central Office or its Regional Offices for a specified period during the study period. 

The details of the facilities that will be made available to the selected scholar: (i) In cases when the Scholar is asked to visit the RBI, economy class domestic airfare ticket for one visit to the RBI Office from and to the place of residence/ work in India (ii) Suitable accommodation may be provided to selected scholars in one of the Bank’s residential colonies, if required during their visit to RBI subject to availability (iii) Monthly allowance of Rs. 50,000/- to be paid for the duration of the project for maximum of three months (iv) In addition to the monthly remuneration, on completion of the Project/ Research paper and on acceptance of the same by the RBI, payment of Rs. 2,00,000/- as honorarium. 

No accommodation or allowance for accommodation will be provided during the period of scholarship. 

For more details, the Notification may be seen.