BackRBI invites application for scholarship scheme for faculty; Check eligibility, selection process, other details
To apply for the RBI's scholarship scheme, one should be a full-time faculty member teaching economics and/or finance in any UGC-recognised Universities/Colleges in India
PremiumThe Reserve Bank of India (RBI) has invited applications for Scholarship Scheme for Faculty Members from Academic Institutions. As per the RBI notification, a full-time faculty member, teaching economics or finance in any University Grants Commission (UGC) or All India Council for Technical Education (AICTE) recognised Universities/Colleges in India, is allowed to undertake short term research in the areas of monetary and financial economics, other similar areas.
Eligibility for RBI Scholarship Scheme for Faculty Members
- One should be a full-time faculty member teaching economics and/or finance in any UGC-recognised Universities/Colleges in India.
- The faculty should be an Indian citizen
- Age should be below 55
Criteria of RBI Scholarship Scheme 2021
- The applicants need to send a research proposal of not more than 1,000 words and a detailed curriculum vitae along with the duly filled-in application form.
- The candidates will be shortlisted on the basis of the research proposal
- The shortlisted candidates will then be interviewed by a selection panel.
Submission of Application
- The application in hard copy 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’.
- It should be sent along with the research proposal and an official letter from your university/college bearing the official university/college stamp.
- The application should reach the Bank latest by October 20, 2021.
- Commencement of the scholarship scheme would be from December 6, 2021
Number of Scholarship
A maximum of five scholarships would be considered for 2021. However, the bank said it can vary the number of scholarships for any year.
Duration of the Project
The duration of the project is a maximum of three months.
Preference will be given to the candidates who have not been awarded the scholarship earlier, RBI said. Those selected will get a monthly allowance of ₹40,000 for the duration of the project (which is 3 months).
"In addition to the monthly remuneration, on completion of the Project/ Research paper and on acceptance of the same by the RBI, payment of ₹1.5 lakh as honorarium would be made," the central bank added.
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