Today we have with us Priyanka who did her internship at RBI. If you are an economics student, read on to know how this internship can help your professional growth in this field.
InternFeel (IF): Please tell us something about yourself. Where are you studying currently? What are your hobbies and interests?
Priyanka: Hi! I am A. Priyanka, student of University of Hyderabad. I am currently pursuing MPhil in economics at University of Hyderabad. I hold a post graduate degree in economics from the same university. I got selected for the internship at RBI Hyderabad for a period of 2 months in 2014, in the first year of my post-graduation. It gave me a very good exposure and I could get a broader picture of the way in which the monetary authority of our country works in practice.
IF: Tell us something about your internship including stipend, duration and place?
Priyanka: My internship period was of two months May – July 2014
Process of application has two stages:
- Application – one has to fill the application form in the format prescribed in the RBI website and send them via post and email. Every year the applications are invited from 15th September to 30th October. For further details one can look into RBI careers website.
- Interview –shortlisted candidates are called for an interview at their respective regional offices, where they have applied for.
Stipend: INR 12,500 per month, now they have revised it to INR 15,000 per month.
Priyanka: RBI usually selects a maximum of 120 students for the summer internship every year. The selection process has two stages – application form and the interview. The application form should be sent to the control office of RBI. After 15 days or so intimation is sent to the selected candidates via email regarding the interview schedule and the documents which they are required to carry on the day of the interview. So, I would say that the selection process is competitive, especially the interview round.
Usually based on the academic performance of the candidates, they are shortlisted for the interview. My interview lasted for around 20 minutes. The initial few questions were on my hobbies and my schooling. Then the focus was on my graduation subjects and about current events of Indian economy. Some of the questions were also from the RBI and its functioning and the area of my interest. Overall the interview was good and the 3 member panel board was very cordial and friendly.
Around 15-18 people were called for the interview from various well known universities and out of which finally 4 of us got selected from Hyderabad.
I think I was thorough enough with the details which I had mentioned in the application form and when the first question was suddenly asked from my hobby i.e. Hindustani vocal, I could answer it (though I was not expecting the question).
IF: Could you please highlight the work/research you carried out during your internship period?
Priyanka: I chose to work under Foreign Exchange Department due to my personal interest towards the trade related matters .Each one of the interns were allotted a guide, usually the head of the department . My guide, Mr. Seshasayee sir, was very helpful throughout the internship and even other office staff also helped me out in carrying my research work. I worked on the topic ‘A study of Foreign Direct Investments and the Indian Economy’. I also got to know the process and administration work which is carried out in the department.
We had to submit a report on the project we did and also a presentation on the last day of the internship. We were awarded a certificate on the very same day.
Priyanka: The experience was very nice and I enjoyed the 2 months which I spent over there. A lot of good things and memories happened to me, the interns and the colleagues were very friendly. The office ambience and work culture are worth mentioning. The canteen service was also pretty good and they offer food at subsidized rates.
IF: How do you think this internship has helped you grow? In other words, what are your key takeaways from the internship?
Priyanka: I have learnt a lot from the internship; it has helped me broaden my perspective of thought and has made me more confident. I have also gained a lot from the work culture and also from the colleagues.
IF: Has this internship had a decision altering impact on your career? Do you now think of a different future path as compared to before doing the internship?
Priyanka: The internship has helped me in broadening my vision and future prospects. It is helping me in my research work for MPhil.
IF: Lastly, do you have any words of advice or caution for students aspiring for this internship and reading this piece?
Priyanka: My advice to the candidates who are applying for the internship is they should fill the application properly and give accurate details. And for the interview, always be confident and thorough with the concepts. And it is ok even if you do not know a few questions, do not get nervous.
We’d like to thank Priyanka for the detailed interview and wish her all the best for her future.