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RBI Recruitment For Post of Executive Interns on Contract Basis

Applications (App.) are invited for the post mentioned below on contract basis in Reserve Bank of India (RBI/Bank) from Indian citizens, citizens of Nepal and subjects of Bhutan, Tibetan refugees (who came over to India before 1st January 1962) and Persons of Indian Origin who have migrated from Myanmar and Sri Lanka with the intention of permanently settling in India and in whose favour Eligibility Certificates have been issued by Government of India.

Post
Number of Vacancies
Unreserved i.e. General (GEN)
Scheduled Castes (SC)
Scheduled Tribes (ST)
Other Backward Classes (OBC)
Persons With Disability (PWD)
TOTAL
Executive Interns (on Contract Basis)
101
30
15
54
06*
200

*PWD may belong to any category (GEN/SC/ST/OBC) and are included in the Total vacancies. Out of 6 vacancies, 2 vacancies each are reserved for Hearing Impaired (HI), Visually Handicapped (VH), and Orthopaedically Handicapped (OH) candidates.

Note: (i) The degree of disability should be between 40% to 75% in case of Hearing Impaired Persons (HI). (ii) For Visually Handicapped (blind and partially blind), a person should fulfill either (a) total absence of sight or (b) with visual acuity not exceeding 6/60 or 20/200 (snellen) in the better eye with correcting lenses or (c) with limitation of the field of vision subtending an angle of 20 degrees or worse. (iii) The degree of disability should be minimum 40% in case of Orthopaedically Handicapped (OH).
The Persons With Disability (i.e. HI, VH and OH) should possess a latest Certificate to this effect issued by an authorized Government of India/State Government Department/Hospital.
Definitions
(i) First Party shall mean the Reserve Bank of India/Bank.
(ii) Second Party shall mean the Executive Intern on limited period of contract for the purpose of terms and conditions mentioned in this advertisement.

1. Eligibility Criteria:
(A) Educational Qualifications: (as on 01-07-2010)
A First Class Bachelor’s Degree with a minimum of 60% marks or an equivalent grade. SC/ST/PWD(HI/VH/OH) candidates having Second Class with a minimum of 50% marks or equivalent grade in Bachelor’s Degree examination are eligible to apply if posts are reserved for them
AND
GEN/OBC/SC/ST/PWD(HI/VH/OH) candidates must also possess skills relating to Information Technology. For this purpose, they must have successfully completed any Certificate Course related to Information Technology.
(B) Age: (as on 01-07-2010)
Between 21 and 30 years (candidates must have been born not earlier than 02-07-1980 and not later than 01–07–1989). Upper age is relaxable by
(i) 3 years in the case of OBC candidates if the posts are reserved for them.
(ii) 5 years in the case of SC/ST candidates if the posts are reserved for them.
(iii) 10 years for PWD (Gen), 13 years for PWD (OBC) and 15 years for PWD (SC/ST) candidates, if posts are reserved for Persons with Disability.
2. APPLICATION FEE (Non-Refundable): Rs.100/- (Rupees one hundred only). No fee is payable by SC/ST/ PWD candidates. Fee is payable by Demand Draft favouring Reserve Bank of India and payable at Mumbai only. However, candidates from un-banked areas may pay fee by crossed Indian Postal Orders (IPO) in favour of Reserve Bank of India payable at GPO, Mumbai. Candidates should write their name and address on the reverse of the Demand Draft and in the space provided for the purpose on the Postal Orders (if fee is payable) and enclose them to the application with a pin (should not be stapled). Fees sent separately not accompanied with proper application or payment in any other manner will not be accepted. Fees once paid will not be refunded under any circumstances.
3. Scheme of Selection :
A) Selection will be through Written Examination (WE) which will be an Objective Type Test followed by an Interview. The Objective Type test paper will be of 3 hours duration for 200 marks. The paper shall consist tests of i) General Awareness ii) English Language iii) Quantitative Aptitude and iv) Reasoning. Candidates have to secure minimum marks separately for each test as may be prescribed by the Board. Candidates who secure minimum marks separately for each test as prescribed will be short-listed for interview based on the aggregate marks obtained in the Objective Test. The minimum aggregate cut off marks for being short-listed for Interview will be decided by the Board in relation to the number of vacancies. Candidates may answer the interview in Hindi or English at their option. Final Selection will be based on the performance of the candidate in the WE (Objective Type Test) and Interview taken together.

B) The ‘WE’ (Objective Type Test of 3 hours duration for 200 marks) will be held on Sunday, the October 24, 2010.

C) Examination Centres: ‘WE’ will be held at the following Centres (Code Numbers indicated in the brackets)

Name of Centre
Code No.
Name of Centre
Code No.
Ahmedabad
(11)
Mumbai
(25)
Bangalore
(12)
Nagpur
(26)
Bhopal
(13)
New Delhi
(27)
Bhubaneswar
(14)
Panaji
(28)
Kolkata
(15)
Patna
(29)
Chandigarh
(16)
Pune
(30)
Chennai
(17)
Thiruvananthapuram
(31)
Guwahati
(18)
Agartala
(32)
Hyderabad
(19)
Aizawl
(33)
Jaipur
(20)
Imphal
(34)
Jammu
(21)
Itanagar
(35)
Kanpur
(22)
Kohima
(36)
Kochi
(23)
Port Blair
(37)
Lucknow
(24)
Shillong
(38)

Candidates can select only one centre and must indicate its Name and Code No. in the Application. Centre and Date of ‘WE’ are liable to be changed at Board’s discretion. In the event of cancellation of ‘WE’ at any Centre, the Board may at its discretion allot an alternative Centre to the candidates concerned. Candidates admitted to the ‘WE’ will be intimated date, time and venue of ‘WE’ through Admission Letters (AL). Candidates will not be admitted to the ‘WE’ without the ‘AL’.

Request for change of centre will not be entertained.

4. Compensation Package :
All appointments would be on Cost-to-Company basis and besides the advertised remuneration, no other money / allowance would be payable. The compensation package will include the approximate market value of a suitable accommodation in Mumbai suburbs besides other components like LFC, etc. No perquisites other than Lounge and Dispensary facilities would be allowed. However, the incumbent will be given the medical facilities under the BMFS (Bank’s Medical Facility Scheme) and also be eligible for medical reimbursement on declaration basis on the same scale as applicable to the junior most officers in the Bank.
i) Fixed Compensation :
The compensation for the three years, payable pro rata at the end of each month for the year, shall be as follows :

Component
Total Amount (in Rs.) per annum
1st year
2nd year
3rd year
Basic Compensation
2,50,000
3,00,000
3,50,000
Compensation towards Conveyance
65,000
65,000
65,000
Compensation towards House Rent @
1,75,000
1,75,000
1,75,000
Compensation towards LFC*
10,000
10,000
10,000
Aggregate Annual Compensation
5,00,000
5,50,000
6,00,000
* LFC- Leave Fare Concession
@ The compensation towards House Rent will be paid uniformly irrespective of the place of posting.

ii) Performance Incentive :
In addition, the Second party will also be entitled to be considered for payment of performance incentive ranging from NIL to a maximum of Rs. 50,000/- per annum. Payment of performance incentive will depend on evaluation of Second party’s performance at the end of the year and the quantum will vary depending upon the performance level achieved by the Second party. The performance incentive will not be payable if either Party terminates the contract before completion of the relevant year. The other details shall be as fixed by the Bank from time to time and shall be made known to the Second party in due course.
iii) Medical Benefits :
The Second party will be eligible for all medical benefits as available to the junior most officers in the Bank i.e. Medical benefits on declaration basis towards private treatment and settlement of all bills towards medical treatment /hospitalisation of self and dependants as per the schedules.
5. Terms and Conditions of Contract Appointment of the Executive Interns
Standard terms and conditions of contract appointment will be applicable mutatis mutandis to all the Executive Interns appointed on contract basis.
I) Period: The Second Party’s term of contract with the First party will be for a period of 3 years from the date of reporting.
II) Job responsibility : The Second Party shall execute and perform all such duties that may be assigned to him/her by First Party from time to time and First Party reserves its right to change these at its discretion.
III) Placement: The selected candidates will be liable to be posted to any office of the Bank.
IV) Leave : The Second Party will be entitled to leave at the rate of 15 days per calendar year (leave to be calculated on pro rata basis for any fractional period). Any absence beyond the above period will be treated as leave without compensation.
V) Accommodation : The Second Party will be required to make own arrangements for his/her stay.
VI) Superannuation benefits: The Second Party will not be entitled to any superannuation / terminal benefits in respect of the services performed during the period of contract.
VII) Other facilities: The Second Party will be eligible for use of First Party’s Lounge facilities and Medical facilities including dispensary for medical treatment of self and dependants, during the period of contract. No other facilities will be provided.
VIII) Seniority : The Second Party will have no claims to any seniority, either among the individuals appointed on contract basis or vis-à-vis the regular employees of the Bank, as each contract appointment will be on a stand-alone basis.
IX) Conduct and Discipline : The Second Party must agree to be governed by the Code of Conduct and Discipline as applicable for Contract Appointees. For this purpose, the Second Party will be placed at Level -1.
X) Termination of Contract :
A) During the period of contract, either Party shall have the right to terminate the contract for a reasonable cause with prior notice of at least one month or compensation of one month in lieu of notice provided that such notice or compensation in lieu thereof shall not be necessary on the part of First Party where the termination is for misconduct specified under the Code of Conduct and Discipline agreed to by the Second Party, which is supported by satisfactory evidence recorded in an enquiry held for the purpose in the manner as prescribed under the Code of Conduct and Discipline.
B) Notwithstanding the terms agreed to as in clause (A) above, the contractual appointment with the First Party will come to an end automatically on the expiry of the period of contract. There shall be no obligation on the part of the First Party to issue a formal order of termination or to give any prior notice in this behalf. The Second Party shall agree that no compensation will be payable on the termination or expiry of the contract.
XI) Re-appointment on Contract: The contract appointee will not be eligible for reappointment on contract under the scheme with the First Party.
XII) Appointment with the First Party : The Second Party will have no right for consideration for regular appointment with the First Party. He/She may however appear and compete for such appointment along with other outside candidates in accordance with and subject to the prescribed terms and conditions as may be applicable to other candidates.
XIII) Secrecy : The Second Party shall sign a declaration of secrecy on the usual lines.
XIV) Undertaking to protect Bank’s interest : The Second Party shall sign an undertaking to protect First Party’s interest.
6. Pre-examination training for SC/ST/ PWD(HI/VH/OH) candidates : The Bank arranges pre-examination training for the WE (Objective Type Test) for SC/ST/PWD candidates, free of cost, at the centres where the Bank has its offices. Candidates who desire to avail of the training may apply separately to the Regional Director/General Manager, Reserve Bank of India at any one of the centres marked (**) below, whichever is convenient to them in the format furnished below on or before August 30, 2010. Candidates should not send their application for training to the Reserve Bank of India Services Board’s Office (Board), Mumbai as the Board will not entertain such applications.
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