A scheme called RBI Young Scholars Award Scheme has been introduced by Reserve Bank of India. The motive behind this award is to encourage the youth and create awareness about the banking sector of India.

As per the scheme, around 150 young scholars will be selected on the basis of a competitive examination and they will be awarded the scholarship.

The test will concentrate mainly on role and functions of RBI and the functioning of the Indian banking industry. It will be conducted in English as well as all the major regional languages.

Those candidates who qualify the test will have to work on projects in selected RBI offices for 2 to 3 months. They will also be paid a stipend of Rs 7,500 per month during the course of project. Also boarding and lodging facilities would be provided to the outstation candidates.

The test is eligible to be taken by all students in the age group of 18 to 23 who are currently under graduation course with any recognised university.

There is no application fee for the test.