RBI invites young professionals to work with central bank at ₹1.5 lakh/month stipend

The Reserve Bank of India is calling for online applications from qualified individuals who wish to serve as Young Professionals (YPs) in various work areas of its Central Office departments in Mumbai. The selected candidates will receive a fixed monthly stipend of ₹1,50,000. The recruitment drive aims to fill 12 openings across several specialist fields such as artificial intelligence, quantum technology, cybersecurity, and climate‑change risk.

Successful applicants will be offered an initial contract of three years, which may be extended by mutual consent up to a maximum total duration of five years. The engagement is strictly a full‑time contractual arrangement and does not constitute regular employment. To be eligible, candidates must be Indian citizens aged above 21 years and not older than 30 years as of July 6, 2026, which also marks the final date for submitting online applications.

The RBI’s notification lays out strict provisions concerning performance expectations, working hours, and remuneration for the contracted professionals stationed in Mumbai. It states: “A fixed stipend of ₹1,50,000/-, after applicable tax deductions, will be paid monthly for the entire engagement period. The YP will not receive any additional allowances or benefits.”

Contractual terms prohibit the YP from taking on any other employment. The notification clarifies that selected candidates may not hold concurrent professional engagements during the contract term. The RBI specifies: “The YP will be engaged on a full‑time contract basis for a limited period. Once engaged by the Bank, the YP shall not undertake any part‑time work for a private or public entity or individual, or accept any fee therefore, without prior written permission from the Bank.”

Furthermore, the engagement does not constitute a regular job or an employer‑employee relationship with the Reserve Bank of India. Regarding work hours and leave, the central bank requires adherence to standard office timings without extra pay for overtime. Employees are entitled to 15 days of leave per calendar year, accrued on a pro‑rata basis, which cannot be carried over to the following year.

The RBI adds: “No extra compensation will be provided for work beyond regular office hours, or on weekends and holidays.” It also notes that “Unauthorised absence for eight or more consecutive working days without a valid reason may result in termination of the contract.”

The notification indicates that chosen candidates are expected to join the position tentatively between August and October 2026. Upon selection, they must submit a medical fitness certificate and a satisfactory police verification report confirming no criminal record, execute a formal agreement, and comply with a stringent code of conduct and confidentiality requirements.

Published on June 16, 2026