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RBI Scholarship Scheme 2021 for Faculty Members from Academic Institutions [5 Scholarships, ₹ 40K/Month + ₹1.5 L Honorarium]: Apply by Oct 20: Expired

Applications are invited for RBI Scholarship Scheme 2021 for Faculty Members from Academic Institutions. The last date of application is 20 October.

About RBI Scholarship Scheme

Applications are invited by Reserve Bank of India (RBI) for Scholarship Scheme for Faculty Members from Academic Institutions. The scholarship scheme for faculty members aims at bringing on board scholars, who would be able to undertake and pursue critical projects successfully and thereby contribute to the Reserve Bank’s research universe. The Reserve Bank of India invites full-time faculty members teaching economics or finance in any UGC or AICTE recognised Universities/ Colleges in India to undertake short-term research in the areas of monetary and financial economics, banking, real sector issues and other areas of interest to the Reserve Bank


  • To increase awareness about the activities of the Reserve Bank among faculty members and student community; and
  • To provide exposure to faculty members teaching economics and/or finance in different areas/activities of operations in the Reserve Bank.


The eligibility criteria for the scheme are as follows:

  • Full-time faculty teaching economics and/or finance in any UGC-recognised Universities/Colleges in India.
  • Indian nationals.
  • Age below 55 years.
  • Preference will be given to the candidates who have not been awarded the scholarship earlier.

Important dates

  • The application, complete in all respect, should reach the Bank latest by October 20, 2021.
  • Commencement of the scholarship scheme would be from December 6, 2021.

Number of Scholarship

A maximum of five scholarships would be considered for 2021. The Reserve Bank, at its discretion, may vary the number of scholarships for any year.


The duration of the project is maximum three months.

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Noticebard WhatsApp - Telegram Group


The application in hard copy may be forwarded to ‘The Director, Development Research Group, Department of Economic and Policy Research, 7th Floor, Central Office Building, Reserve Bank of India, Fort, Mumbai – 400001’. The application should be sent along with detailed curriculum vitae, the research proposal and an official letter from your university/college bearing the official university/college stamp verifying your status at the time of application.

The soft version of application (in addition to hard copy) and/or any queries related to the scheme may be sent to email.

Facilities/ Benefits

The major facilities that will be made available to the selected scholar would include:

  • Restricted economy class domestic airfare ticket for one visit (for presentation of the selected study) to the RBI Central Office, Mumbai from place of residence/work in India.
  • Accommodation may be provided to selected scholars during their visit to RBI for presentation of 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.


The selected scholar will have the following responsibilities:

  • The scholar would be required to submit a research paper/project report that contributes to RBI research activities.
  • The scholar 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 prior permission of the Reserve Bank.


The duration of the project is maximum three months.


The scheme would be administered by the Department of Economic and Policy Research, Central Office, RBI, Mumbai. The selected candidates will be required 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.

Selection Process

The candidates will be shortlisted on the basis of the (a) research proposal of not more than 1000 words, (b) curriculum vitae and (c) interview by a selection panel.

Click here to view the official notification of RBI Scholarship Scheme 2021 for Faculty Members from Academic Institutions.

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  1. Meenatchi Thotta Street

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