RBI Scholarship Scheme 2023 for Faculty: Application Form, Eligibility

The Reserve Bank of India has created a new scholarship opportunity for the full-time faculty members of prestigious universities and colleges present in India and today we will be sharing with all of you the details regarding the same scholarship opportunity which is known as the RBI scholarship Scheme for Faculty Members 2023. We will also share with you all the step-by-step procedures through which you will be easily able to fill up the application form for the scholarship and the details regarding the amount to which is available to all of the beneficiaries taking part in this scholarship. 

RBI Scholarship Scheme

About RBI Scholarship Scheme for Faculty Members 2023

The Reserve Bank of India has created a scholarship scheme for the faculty members of academic institutions and the motive behind the development of this scholarship scheme is to help the faculty members to pursue critical projects and contribute the projects to the Reserve Bank research universe. The full-time faculty members who are teaching economics for finance in any UGC or AICTE-recognized universities or colleges in India can easily take the part in this prestigious scholarship scheme and they will be also eligible to get monetary funds. You can fill out the application form for the scholarship before the last date in order to be eligible. 

Also Check: Timken Scholarship

Details Of RBI Scholarship Scheme

Name RBI Scholarship Scheme for Faculty Members 2023
Launched byReserve Bank of India
Objective Providing research opportunities
Beneficiaries Faculty Members
Official SiteRBI Scholarship

Important Dates

You have to submit the application form before the last date.

The operations under the scholarship scheme will be starting soon.

Objectives Of RBI Scholarship Scheme

There are a lot of objectives that will be fulfilled in the development of The Reserve Bank of India faculty scholarship 2021 and one of the main objectives is to increase awareness regarding the activities of the Reserve Bank of India and also to help the faculty members and their students to understand the flow of monetary and other details related to the RBI. The faculty members will be able to get more information regarding economics and Finance in different areas and they will also be able to tackle the various operations related to the Reserve Bank of India through the availability of this scholarship.

RBI Scholarship Scheme for Faculty Members Benefits

There are a lot of benefits that will be provided to the beneficiaries under this scheme and some of the major benefits are listed below:-

  • Restricted economy class domestic airfare ticket for one visit (for the presentation of the selected study) to the RBI Central Office, Mumbai from a place of residence/work in India.
  • Accommodation may be provided to selected scholars during their visit to RBI for the presentation of the final study subject to availability.
  • Monthly allowance of ₹ 40,000/- (Rupees forty thousand only) to be paid for the duration of the project (not more than three 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.
  • A maximum number of 5 scholarships will be available for the year 2021.
  • The duration of the project is 3 months.

Eligibility Criteria

The applicant must follow the following eligibility criteria to apply for the scholarship:-

  • The applicant must be a permanent and legal resident of India.
  • He/She should be a full-time faculty member teaching economics or finance in UGC-recognised universities and colleges in India.
  • The applicant must be below the age of 55 years.
  • Preference will be given to the candidates who have not been awarded the scholarship
Responsibilities Of The Applicant

The applicant will be responsible for various duties under this scheme and some of the duties are mentioned below:-

  • The scholar would require to submit a research paper/project report that contributes to RBI research activities.
  • He/She should make a presentation of his/her work in a Seminar at Reserve Bank, Mumbai.
  • The scholar, if he/she desires to publish his/her research work elsewhere, may do so with the prior permission of the Reserve Bank.
Selection Process

The applicant will be selected base on the following selection procedure:-

  • 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 shortlist on the basis of the research proposal
  • The shortlisted candidates will then interview by a selection panel.

Also Check: ONGC Scholarship 

Application Procedure RBI Scholarship Scheme

To apply for this scholarship scheme, you will have to follow the simple procedure given below:-

  • The application in hard copy may forward to ‘The Director, Development Research Group, Department of Economic and Policy Research, 7th Floor, Central Office Building, Reserve Bank of India, Fort, Mumbai – 400001’.
 RBI Scholarship Scheme Application Form
  • It should be sent with detail Curriculum Vitae along with the research proposal and an official letter from your university/college bearing the official university/college stamp.
  • The soft version of the application (in addition to the hard copy) and/or any queries relate to the scheme may be send to email deprdrg@rbi.org.in 
  • The scheme would be administer by the Department of Economic and Policy Research, Central Office, RBI, Mumbai. The selected candidates will require 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.

Guidelines For The Scheme

You must follow the following guidelines to be successfully eligible for the scheme:-

  • The scholar should take written approval from the RBI before presenting or publishing partly or fully the study undertaken by the scholar.
  • The scholar may mention that the project was undertake as a part of the ‘RBI Scholarship Scheme for Faculty Members of Academic Institutions 2021’.
  • The paper should publish with the disclaimer that- “the views expressed in the study/paper are sole of the author and not of the Reserve Bank of India”.
  • In case the scholar wants to acknowledge any names from the Reserve Bank of India, it may be only after seeking prior permission.
  • The said study should not consider an ‘RBI fund project’.
Helpline Number
  • Applicants having any queries can contact the Email deprdrg@rbi.org.in 

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