The RBI Young Scholars Award Scheme invites undergraduate students to take part in a nationwide competition that introduces them to the functions and role of the Reserve Bank of India and the banking sector. Up to 150 scholars are selected through a competitive examination held in English and major regional languages. Selected candidates then carry out short-term projects in RBI offices for two to three months, receiving a monthly stipend during this period.

Open to Indian citizens who are currently pursuing undergraduate studies in any discipline. There are no restrictions based on marks or income. Applicants must be able to participate in the selection test and the subsequent project work.

Candidates must apply online through the official RBI portal when the application window is open. The application requires personal details, educational information, and a scanned photograph. After submission, applicants receive an admit card for the written test conducted in selected centres across India.