RBI will pay Rs 1.5 lakh monthly stipend to young professionals: How to apply | Education News
3 min readNew DelhiUpdated: Jun 16, 2026 06:46 PM IST
The Reserve Bank of India (RBI) has invited applications for the engagement of Young Professionals (YPs) on a contractual basis. Selected candidates will work with the central bank in Mumbai and receive a monthly stipend of Rs 1.5 lakh during the tenure of their engagement. The last day to apply is July 16, 2026.
According to the official notification, the engagement is on a contractual basis and does not guarantee a permanent position in the RBI eventuality. Young Professionals will be required to work full-time and will not be permitted to undertake any other paid assignments without prior approval from the Bank.
Duration of engagement
According to the statement, RBI plans to engage Young Professionals for an initial period of three years. The contract may be extended based on mutual agreement and performance, with the total tenure not exceeding five years.
Selected candidates are expected to join between August and October 2026 and will be posted in Mumbai.
Stipend and benefits
Candidates selected as Young Professionals will receive a fixed monthly remuneration of Rs 1,50,000, subject to applicable tax deductions.
The RBI has clarified that no additional allowances, benefits or perks will be provided beyond the monthly stipend.
Required qualification
The eligibility criteria, educational qualifications and post-specific requirements have been detailed in the official notification. Applicants need to ensure that they meet all mandatory qualifications before applying, as merely fulfilling the minimum eligibility conditions does not guarantee selection.
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The RBI will shortlist candidates based on qualifications, experience and suitability for the role.
What is the selection process?
Selection will be conducted in multiple stages, beginning with preliminary screening and shortlisting of applications, followed by document verification and a personal interview. The RBI may also limit the number of candidates called for the interview stage based on the number of vacancies and the overall quality of applications received.
How to apply
Interested candidates must submit their application through email only.
Applicants need to send:
–Duly filled application form
–Curriculum Vitae (CV)
–Academic certificates and transcripts
–Statement of interest
–Sample of academic or policy writing
–Recommendation/reference letter from a professional referee
Applications must be emailed to yphrmdco@rbi.org.in with the subject line: “YP Application – Post Code – Candidate Name”
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Candidates applying for more than one post are required to submit separate emails for each application.