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Now the faculty members or teachers working in the AICTE and UGC-approved colleges or bodies can apply online under the RBI Scholarship Scheme for getting the scholarship amounts offered to them for carrying out critical-level projects for the duration of 3 months. This project must be based on the Reserve Bank Research Universe.
Today through this article we will provide you with all types of information about RBI Scholarship Scheme 2023 like Purpose, Eligibility Criteria, Benefits, Features and important Documents etc. Apart from this, we will share with you the process of applying online under this scholarship. To get complete information about this scholarship initiative, read this article till the end.
RBI Scholarship Scheme 2023
The Reserve Bank of India has launched the RBI Scholarship Scheme for the members working under academic institutions as faculty who also want to start their work while pursuing critical projects with the help of scholarship amounts offered to them. This scholarship will also be provided to the faculty members teaching economics for finance in any UGC or AICTE-recognized universities or colleges in India.
This scholarship has been launched by the RBI Body for the faculty members of colleges and teachers of UGC or AICTE-empanelled universities so that they will be able to pursue their critical projects with the help of the scholarship amount offered to them. They will be inspired for carrying out short-term research-based studies in various sectors such as financial economics, banking and real banking sector issues.
Highlights Of RBI Scholarship 2023
The highlights of this scholarship are as follows:-
| Name Of The Scholarship | RBI Scholarship Scheme |
| Launched By | Reserve Bank of India Authorities |
| Delegated Bodies | UGC & AICTE |
| No. of Delegated Bodies | 2 |
| Delegated Ministry | Ministry of Electronics & Information Technology |
| Allocated Portal | Reserve Bank of India Portal |
| Objective | To provide scholarships to the faculty members of prestigious universities |
| Benefit | Scholars will be able to complete their critical projects |
| Applicable To | Citizens of India |
| Beneficiaries | Faculty Members/Teachers teaching economic subjects in UGC and AICTE Approved Universities |
| Age Limit | Below 55 Years |
| Beneficiary Limit | 5 Beneficiaries |
| Duration Of Project | 3 Months |
| Mode Of Transfer | DBT (Direct Benefit Transfer) |
| Payment Mechanism | e-payment mechanism |
| Form of Benefit | Scholarship amount |
| Selection Parameters | Research Proposal & Interview Performance |
| No. of Selection Parameters | 2 |
| Amount of benefit | Variable Assistance |
| Hosting Site | National Information Center (NIC) |
| Youtube Channel | Reserve Bank of India |
| Mode Of Application | Online |
| Email ID | [email protected] |
| Official Website | www.opportunities.rbi.org.in |
Objectives Of RBI Scholarship Scheme 2023
The main aim of launching the RBI Scholarship is to provide scholarship amounts to the faculty members and the teachers teaching in the UGC and AICTE-approved colleges so that they will be able to carry out or complete their critical-based projects with the help of scholarship amounts offered to them. This will be a form of contribution from the side of faculty members to the Reserve Bank Research Universe.
Another objective of launching the RBI Scholarship Scheme is to make available the required funds necessary for completing a particular project that falls under the working of the RBI sector. The faculty members of RBI will be able to carry out all the Monterey operations with the help of scholarship amounts. The faculty members will be able to solve the problems of RBI with the help of knowledge gained by them in Economics and Finance subject.
Delegated Bodies
The lists of delegated bodies are as follows:-
- UGC
- AICTE
List Of Eligible Beneficiaries
The following beneficiaries will be considered eligible for getting the scholarship amount:-
- Faculty Members of colleges or universities
- Teachers of UGC and AICTE-approved colleges
Age Limit
The applicant (faculty member or teacher) who is going to apply for this scholarship will need to make sure that the age limit possessed by them is as per the age limit or group that has been specified by the selection body which means the applicant must be below the age of 55 years.
Beneficiary Limitation
Only those beneficiaries will be able to get or receive the scholarship amounts which has been fixed by the selection body for the disbursement of scholarship amounts. A beneficiary limitation has already been set up and it can also vary year by year. A target of covering 5 beneficiaries has been set up which means 5 scholarships will be granted for this year.
Some Important Guidelines
Some of the important guidelines to be followed by the applicant are as follows:-
- The applicant will need to get approval from the RBI for carrying out any kind of critical project.
- The disclaimer must be contained in the paper.
- It is only after getting or taking prior permission from the RBI, the applicant an acknowledge any means from the RBI.
List Of Covered Allowances
The list of covered allowances provided to the beneficiaries are as follows:-
- Airfare Ticket
- Accommodation
- Monthly Allowance
- Monthly Remuneration
Rate Of Scholarship
The rate of scholarship provided to the scholars are as follows:-
| Allowance Covered | Scholarship |
| Airfare Ticket | Actual Cost |
| Monthly Allowance | Actual Cost |
| Accommodation | Rs. 40,000/- |
| Monthly Remuneration | Rs. 1.5/- Lakhs |
Project Duration
The applicants who will be given the scholarship amounts for carrying out the project on the basis of project duration will be given these scholarship amounts for the stipulated amount of time that has been fixed by the selection body. The duration of the project will be fixed for 3 months consisting of 90 days.
Selection Procedure
The applicants will be selected on the basis of the selection procedure. A research proposal consisting of 1000 words along with the CV or Curriculum Vitae will be scrutinized or verified by the selection body for the selection of an eligible beneficiary. After that, the shortlisted students will be called for the interview test. Students who have qualified for the interview test will be given the scholarship amounts.
Selection Parameters
The lists of selection parameters are as follows:-
- Research Proposal submitted by the applicant
- Personal Interview Performance
Benefits Of RBI Scholarship Scheme
The benefits of this scholarship are as follows:-
- RBI Scholarship Scheme will provide financial assistance to the faculty members or teachers working in UGC or AICTE-approved colleges.
- Accommodation facilities will also be provided to the applicants.
- The beneficiaries will not need to suffer from financial instability.
- Applicants will be selected on the basis of the research proposal
- Applicants will be able to get the scholarship amounts on the monthly basis.
- Rs. 1.5 lakhs will be provided to the applicant in the form of an Honorarium.
- Applicants carrying the project for the duration of 3 months will be able to get faster enrollment.
- The scholarship amounts provided to the students will cover major allowances.
- The students will need to apply online under the RBI Scholarship before the last date.
- Applicants will need to submit the Research Proposal consisting of 1000 words.
Features Of RBI Scholarship Scheme
The features of this scholarship are as follows:-
- The RBI authorities have launched the RBI Scholarship Scheme.
- This scholarship will only be provided to the faculty members and teachers of AICTE and UGC-approved colleges or universities.
- A monthly allowance of Rs. 40,000/- will be provided to the applicant.
- This scholarship amount will cover all the expenses spent by the faculty members.
- This scholarship can only be used by the applicant for the completion of research-based projects.
- This scholarship amount will be provided to the faculty member for the 3 months.
- Airfare ticket charges will also be covered under this scholarship.
- Monthly Remuneration of Rs. 1.5 lakhs will be provided each month to the applicant.
- The applicants can apply online under this scholarship before the last date of online form submission.
- For getting more information, one can visit the official website.
Eligibility Criteria
The applicants will need to possess the mentioned below points for getting registration under this scholarship:-
- The applicant must be a permanent resident of India.
- The applicant must be a faculty member of UGC or AICTE-approved universities.
- The applicant must be submitted the Research Proposal consisting of 1000 words.
- The age of the applicant must not exceed 55 Years.
- The applicant will need to get approval from the RBI for carrying out any kind of critical project.
Important Documents
Some of the important documents to apply online under this scholarship are as follows:-
- Aadhar Card
- DOB certificate
- Annual Income Certificate
- Research Proposal
- Latest Passport Size Photograph
- Bank accounts details
- Active Mobile number for receiving OTPs
- Working Email Id for future reference
- Latest Passport Size Photograph
Process To Apply Online Under RBI Scholarship Scheme
As this scholarship has been recently launched, no such information has been received by using social networking resources. As soon as any information related to the application procedure required to apply online under the RBI Scholarship Scheme will be launched, we will update you through this article otherwise the applicant can visit the Official Website.
Contact Information
In case of queries and questions come to your mind regarding the RBI Scholarship Scheme, then you may contact this mentioned email Id:- [email protected].