RBI Opens Applications for 12 Young Professional Positions in Mumbai; Monthly Stipend Fixed at ₹1.5 Lakh

The Reserve Bank of India (RBI) has invited online applications for the engagement of Young Professionals (YPs) on a contractual basis in various Central Office Departments located in Mumbai. The initiative is intended to strengthen the Bank’s capabilities in specialized and emerging sectors through fixed-term professional assignments.

Positions and Functional Areas

As per the official recruitment notification, RBI plans to engage 12 Young Professionals across key domains that include:

• Artificial Intelligence (AI)
• Quantum Technology
• Cyber Security
• Climate Change Risk Management

The engagement is aimed at supporting work related to technology, risk assessment, policy development, research, and other strategic functions within the central bank.

Contract Period

Selected candidates will be engaged on a full-time contractual basis for an initial term of three years. The contract may be extended by mutual consent; however, the total period of engagement shall not exceed five years.

RBI has clarified that the engagement is purely contractual in nature and does not constitute regular employment with the Bank. The appointment will not confer any claim to permanent absorption or benefits available to regular employees.

Stipend Structure

Candidates selected under the programme will receive a fixed monthly stipend of ₹1,50,000, subject to applicable tax deductions.

The Bank has specified that no additional allowances, incentives, or employment-related benefits will be payable during the contract period.

Eligibility Requirements

Applicants must satisfy the following conditions:

• Must be an Indian citizen.
• Must be between 21 and 30 years of age as on 6 July 2026.
• Must possess the educational qualifications and professional expertise prescribed for the relevant area of engagement.

The last date for submission of online applications is 6 July 2026.

Restriction on Other Professional Engagements

Since the assignment is full-time, selected Young Professionals will not be permitted to undertake any external employment, consultancy, professional assignment, business activity, or remunerative work without obtaining prior written approval from RBI.

Working Conditions and Leave Entitlement

Young Professionals will be required to adhere to the official working hours prescribed by the Bank. The notification further states that no additional compensation will be payable for duties performed beyond normal office hours, including weekends and public holidays.

Leave entitlement has been fixed at 15 days per calendar year on a pro-rata basis. Any unutilized leave will lapse and cannot be carried forward to subsequent years.

Attendance and Contractual Compliance

The contractual framework includes attendance and conduct requirements. Continuous unauthorized absence for eight working days or more without satisfactory justification may lead to termination of the engagement.

Joining Formalities

Selected candidates are expected to join during the August–October 2026 period, subject to RBI’s scheduling requirements.

Prior to joining, candidates will be required to furnish:

• Medical fitness certificate
• Police verification report confirming absence of criminal antecedents
• Other documents and declarations as prescribed by the Bank

Regulatory Significance

The engagement programme forms part of RBI’s efforts to onboard specialized professionals in areas such as advanced technology, cybersecurity, climate-related financial risks, and institutional research. The initiative seeks to support the Bank’s evolving requirements in strategic and emerging sectors through time-bound professional engagements.