Internship Experience | Reserve Bank of India (RBI) | Juili Ballal |

In this interview we have Juili Ballal, with her internship experience at RBI. Let’s learn more.

InternFeel: Please tell us something about yourself. Where and what are you studying currently?

Juili Balal: My name is Juili Ballal. I am 24 years old and a resident of Thane. I have completed my BMS from D.G.Ruparel College and PGDBM in Finance from N.L. Dalmia Institute of Management
Studies and Research. My hobbies include reading books, especially biographies and non-fiction, playing guitar, and writing poems. I have played cricket at the state level and also represented Mumbai University at All India University level.

After completing my PGDBM, I worked at FactSet Systems India Pvt. Ltd. for a period of 25
months, then I worked on a three-month project as a Research Associate at N.L. Dalmia
Institute of Management Studies and Research. Currently, I am pursuing my Ph.D. from IIT-
Bombay in the field of Financial Management.

IF: Give us details about your internship – process of application, stipend, duration, and place?

JB: After the completion of my first-year PGDBM, I got a chance to do my summer internship withthe RBI. The RBI floats its form which is required to be filled by the aspiring candidates. The questions typically include; past academic performance and the choice of the department where the candidate would like to work. The applicants are screened on the basis of the details that they have filled in the form.

The shortlisted candidates are called for personal interview at one
of the RBI offices. I was called at the Fort, Mumbai office. There were three interviewers in the panel, all belonging to a senior level like General Manager, for instance. The duration of my internship was two months; May 2 to June 30. I was placed at Cuffe Parade office, Mumbai, in the NBFC department. The stipend offered to me was Rs.12500
per month.

IF: How competitive was the selection process? According to you, which qualities have helped
you have an edge in the selection process? Also, what were the key things that selectors
were looking for?

JB:  The selection process was a good experience. A lot of importance was given to the past academic performance while shortlisting the candidates for personal interview. The interviewers checked the knowledge that the applicants had about the RBI, its role and functions, and the different departments.

One of the questions that I was asked was; ‘What is the one change that you would RBI to make in order to bring happiness to the common man?’ I answered; ‘I think the RBI should circulate change money (chutta paisa) because it has become a problem that is faced by commoners on a day to day basis, be it while traveling by public transport or while buying vegetables’. Apart from your answers to the questions that were asked in the interview, I feel the interviewers were looking at your confidence, general awareness and willingness to work for an institution like the RBI.

IF: Could you please highlight the work/research you carried out during your internship period?

JB: During my internship, I worked on a project titled; ‘Nature of funding to NBFCs’. In this, I
studied the different types of NBFCs and the means of funding the same. The nature of
funding involved equity, short term/long term borrowings etc. I also observed that the nature of
funding varied from one type of NBFC to other.

IF: Can you give us interesting details about your experience – good and bad? (It could be
something like the amazing location of your internship, the friends you made for life, a bad
senior, accommodation given in case of an outstation internship and something along those lines.)

JB: Getting a chance to do an internship in the RBI was like a dream come true, and the cherry on
the cake was we got an opportunity to interact with the then Governor of RBI; Dr. Raghuram Rajan. That one hour with Mr. Rajan was the hour of my life. The kind of aura, poise and wealth of knowledge that he possesses is astounding. Apart from the work, that interactive session with the Governor will be the highlight of my two-month stint.

IF: How do you think this internship has helped you grow? In other words, what are your key
takeaways from the internship?

JB: The internship allowed me to get a first-hand experience of how a public sector bank works.
My colleagues sitting around me would share their knowledge which served as a valuable
addition to me. Moreover, the things that I had learned in the four walls of the classroom could
be applied in the practical scenario and real walks of life.

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?

JB: I was always interested in understanding the functioning of RBI and was fascinated by the kind of immense work that is done by the institution. I was always interested in doing something in Economics and after doing my internship my desire to excel in the subject of
Economics has become even stronger. Fortunately, I was blessed with a group of friends in PGDBM course who would discuss RBI policy and its impact on the country’s economy. This has helped me tremendously to realize my potential.


IF: Lastly, do you have any words of advice or caution for students aspiring for this internship and
reading this piece?

JB: Doing an internship in RBI is one of the best things that can happen to you. Apart from getting
a chance to interact with the Governor, you also get the opportunity to see closely how the
the central bank works.

IF: Please rate this internship from the scale of 0 to 10, 0 being really bad to 10 being awesome!
JB: 8

IF: Please feel free to give any kind of feedback or suggestion to us at InternFeel. We would love to hear from you –words of appreciation or suggestions are all equally welcome.

JB: InternFeel is a great platform for multiple entities like the aspiring candidates, people who have already done their internship as well as the employers. The views express are candid and will certainly aid the aspirants and employers. InternFeel is doing a great job of bridging the gap between the aspirants and some unknown facts about the summer internship. Keep it up!



Related Internship Experiences:

Reserve Bank of India – Priyanka, from University of Hyderabad

Royal Bank of Scotland – Namrata Singh, IIIT Allahabad

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