RBI Scholarship Scheme 2024 for Faculty: Application Form, Eligibility

In order to motivate students to pursue higher education both Central and state government implements various kinds of scholarship schemes. Through these schemes, financial assistance is provided to the beneficiaries. Recently the Reserve Bank of India launched the RBI scholarship scheme. Under the same financial assistance will be provided to the students. Today through this article we are going to provide you with complete information regarding the RBI Scholarship Scheme 2024 for faculty. You will get to know how you will be able to apply under this scheme. Other than that you will also get to know about other important aspects of this scheme like its objective, benefits, features, eligibility, required documents, application procedure, etc

Overview of the RBI Scholarship Scheme

The Reserve Bank of India has launched the RBI Scholarship Scheme. Under the scheme, full-time faculty members teaching economics or finance and University Grants Commission or All India Council for Economy Technical Education recognized colleges and universities can conduct short-term research in areas of monetary and economics, banking, real estate issues, and other areas of interest to the Reserve Bank. Under the scheme scholarships will be provided to all those beneficiaries who are participating in the scheme. This research opportunity will also add value to the career of the faculty members. This scheme will also enhance the knowledge of the faculty members. Other than that better opportunities are provided to them

Also Check: UCL Scholarship for 100 Indian Students 

Objective of the RBI Scholarship Scheme

• The main objective of the RBI Scholarship Scheme is to increase awareness about the activities of the Reserve Bank among the faculty members and student community
• This scheme will provide exposure will be provided to the faculty members teaching economics or Finance in different areas of operations of the Reserve Bank
• This scheme will also Add value to the careers of the beneficiaries
• Beneficiaries will also be able to enhance their knowledge which will help them get better opportunities in the future

Key Highlights of the RBI Scholarship Scheme

Name of the scheme	RBI Scholarship Scheme
Launched by	Reserve Bank Of India
Beneficiary	Faculty members
Objective	To provide a learning opportunity
Official website	RBI Scholarship
Year	2024

Eligibility Criteria 

• Applicant must be a permanent resident of India
• The faculty member should be a full-time faculty teaching economics or Finance in a UGC-recognized university or college in India
• The age of the applicant should be below 55 years
• Preference will be given to those candidates who have not been awarded the scholarship earlier

Benefits of the RBI Scholarship Scheme

• RBI scholarship scheme has been launched in order to enhance the knowledge of the faculty members in the field of finance and economic 
• Under this scheme, research opportunities will be provided to the faculty members in order to increase awareness about the activities of the Reserve Bank 
• Other than that exposure will also be provided to the faculty members teaching economics and finance and different areas of operations 
• Implementation of this scheme will add value to the career of the faculty members 
• Other than that better opportunities with also be provided to them in the future 
• All those faculty members who are interested in getting the benefit of this scheme are required to submit their application before the last date

Also Check: U-Go Scholarship

Important Dates

• Starting date of application- November 10, 2023
• Last date to apply- December 18, 2023

Reward Details 

• Applicants will be eligible to get a monthly allowance of Rs 50000 to be paid for the duration of the project which is not more than three months
• Suitable accommodation with also be provided to the selected scholars in one of the residential colonies of the bank if required
• Other than that monthly remuneration on completion of the project and on acceptance of the same by the RBI a payment of 2 lakh will be made to the beneficiary

Selection Process 

• In order to be selected under the scheme the applicants are required to send a research proposal of not more than 1000 words and a details CV
• This should be sent with the application form
• The candidates will be selected on the basis of research proposal and CV
• Shortlisted candidates will be interviewed by the selection panel
• Altho students who are found suitable would be invited to undertake research on the theme decided by the Reserve Bank

Also Check: Dost Scholarship

How to Apply RBI Scholarship Scheme Online 

• To apply under the scheme beneficiaries are required to download the RBI Scholarship Form

• After that beneficiaries are required to take a printout of this form
• Beneficiaries are required to duly fill this form by entering all the required details
• Now beneficiaries are required to attach all the required documents along with a CV and research proposal
• Now this form is required to be sent to the department office
• By following this procedure you can apply under the RBI scholarship scheme

Important Instructions

• This scheme has been launched in order to increase awareness about the activity of the Reserve Bank among the faculty members and student community
• All those faculty members who are interested in getting the benefit of the schema required to submit their application
• The application should be sent before the last date
• All the incomplete applications or applications received after the due date will not be considered
• For the year 2023, a maximum of five scholarships will be considered
• The duration of the research project will be maximum 3 months
• No accommodation or allowance for accommodation will be provided during the period of scholarship
• The scholar will be required to submit a research paper that contributes to RBI research activities

Contact Details 

• Please click on Contact Details to get the helpline number

RBI Scholarship Scheme 2024 FAQs