RBI invites applications for a scholarship program for professors; Check eligibility, selection process, other details

The Reserve Bank of India (RBI) has called for applications for a scholarship program for faculty members of academic institutions. As per the RBI notification, a full-time faculty member, teaching economics or finance at any university / college recognized by the University Grants Commission (UGC) or the Indian Council of Technical Education ( AICTE) in India, is authorized to undertake short term research in the fields of monetary and financial economics, other similar fields.

Eligibility for the RBI Scholarship Program for Faculty Members

  • One must be a full time faculty member teaching economics and / or finance at all UGC recognized universities / colleges in India.
  • The faculty must be an Indian citizen
  • Age must be less than 55 years old

2021 RBI Scholarship Program Criteria

  • Applicants should send a research proposal not exceeding 1000 words and a detailed curriculum vitae along with the completed application form.
  • Applicants will be shortlisted on the basis of the research proposal
  • Shortlisted candidates will then be interviewed by a selection board.

Submission of the application

  • The hard copy request can be sent to “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 with the research proposal and an official letter from your university / college with the official university / college stamp.
  • The request must reach the Bank no later than October 20, 2021.
  • The start of the scholarship program would be from December 6, 2021

Number of scholarships

A maximum of five scholarships would be considered for 2021. However, the bank said it can vary the number of scholarships for any year.

Project duration

The duration of the project is three months maximum.

Preference will be given to applicants who did not receive the scholarship sooner, RBI said. Those selected will receive a monthly stipend of ??40,000 for the duration of the project (which is 3 months).

“In addition to the monthly remuneration, at the end of the project / research thesis and on acceptance thereof by the RBI, the payment of ??1.5 lakh of fees would be paid, “added the central bank.

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