Tuesday, 21 August 2012

My Internship Experience at Reserve Bank of India


Life was full of assignments, projects, presentations, surprise quizzes and I was eagerly waiting for some good news to have a short retreat from grinding life at IIM Kashipur. One fine day, moment to rejoice came in the form of internship offer from my dream organisation “The Reserve Bank of India”.  Congratulations all around with friends bashing me and parents were wishing all the best. But exhilaration subsided to half the levels as I was asked to report at the RBI Kanpur office rather than in Mumbai office. Being a south Indian, my Hindi speaking skills were very bad (better to say worst) and I had to spend 2 months in the core Hindi speaking belt of the country. However, joy of getting an offer from RBI allayed all the fears and scepticism.

After taking a week long refreshing break at home, I started on a 26 hour journey to Kanpur. I had to stay at my friend’s house for first two days as there was a bit of delay in allocation of quarter. First day of internship was an induction program where I was introduced to Regional Director, my mentor and some other officers, whom I had to work with. I was very excited after the first meeting with my mentor as he was very inspirational and work oriented. I always looked forward to interact with him. Other interns from IIM Lucknow, IIT Kanpur, IT-BHU and other colleges also joined soon and we slowly started moving together. Interns were given 2-bed room flats in RBI officers’ quarters which are located in a plush area in Kanpur. Adding to the comfortable stay, quarters were full of activity with children enjoying summer vacation in the calm and undisturbed surroundings often engaging us in cricket and badminton.

I was part of a team working on a live project to improve efficiency in government collection and payment systems. I had to conduct interviews of various stakeholders involved in the process. One of the interns from IIM Lucknow was also working on the same project. I enjoyed working with him and we shared views on various issues ranging from Currency system in India to Indian GDP. I got great amount of exposure in RBI as I participated in some central level discussions on monetary reviews, gold imports, currency fluctuations which included deputy governors of RBI and some other meetings which included heads of State Government departments and national banks to discuss progress on financial inclusion and issues with electronic funds. I got a clear idea of how regulator thinks and should think as decisions taken at regulatory level touch all lives.

Apart from the work, three things that I liked most were library, people and food. RBI’s library is a book lover’s paradise with books ranging from Indian culture to Indian currency in abundance. Employees (with average age of more than 50) were extremely proficient in banking knowledge and always guided us in our project. Hindi was never a problem in office as everyone could communicate in English and I also learnt a bit of Hindi (seriously not an exaggeration). I felt that employees in RBI feel proud of their work and organisation which was nowhere evident in software sector. Food in RBI was simply superb with around 12 different types of curries serving all palettes at the cheapest possible cost and lunch time was most awaited by one and all in RBI. Apart from these, never ending chats among interns at quarters, daily visit to rave-3 mall, a movie a week, outings to Varanasi, Allahabad, Lucknow, Agra and Mathura made my sojourn in Kanpur the most memorable.

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