The Reserve Bank of India (RBI) has launched the RBI Young Scholars Award Scheme to generate interest in and awareness about the Indian banking sector and RBI. Under the Scheme, the RBI will select a maximum of 150 young scholars through a countrywide competitive examination and award scholarship. Selection test will focus on the role and functions of RBI and banks  in India and will be held in English as well as in all major regional languages. Selected candidates will be required to work on projects in select offices of RBI for 2 to 3  months and will be paid a consolidated stipend of Rs. 7500/- per month during the duration of the project. RBI will assist outstation awardees in boarding and lodging. The awardees shall have no right/claim for an appointment in the RBI.  Any candidate who had qualified and worked at RBI under the RBI Young Scholar Award Scheme in any of the previous years are not eligible to apply again. [Eligibility]All students, between 18 and 23 years of age, currently pursuing their undergraduate studies in any subject under any recognized university in India, are eligible to take the competitive examination. There is no application fee. The selection test will be held on January 29, 2012 at various centres across India. The results of the selection test will be announced in the first week of April 2012. Desirous candidates may submit applications only by the online mode. Last date for receipt of applications is December 16, 2011. Further details on the  RBI Young Scholars Award Scheme are available on RBI Website under the link:www.rbi.org.in/youngscholars.aspx  and  also  in  the

‘Employment News’ and ‘Rozgar Samachar’