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For B-school students, the summer internship is where they learn and build their skills and profile. Moving away from classrooms and heading towards the real-world, internships give students an edge and the opportunity to explore and apply their learnings and make a difference in their growth -- professionally and personally. In this article, Rakesh Joshi from IFMR Graduate School of Business (GSB) - Krea University, shares his RBI internship story.
Jittery yet reeling with excitement, the day I began my internship at the Reserve Bank of India (RBI), I knew that my learning journey was just about to take a brilliant turn. Working under their Department of Supervision (DOS) for a research project on ‘Review of Hierarchical System in Rural Co-operative Banks with Specific Reference to Andhra Pradesh and Telangana’, the internship, albeit remote, was beyond memorable. Much like every other student in the world, I, too, was apprehensive and worried about what it would be like to intern at a legacy organization right in the middle of the pandemic. The internship, however, was packed with insights and a world of learning!
Neck-deep in deadlines and assignments, it dawned on me that internship season was around the corner and I had to begin my preparations. Weeks of work and studies resulted in a personal interview as part of the selection process. With a calm mind, I spoke in great detail about the projects I had worked on during my first year of the MBA program at IFMR GSB. From banking ratios to macroeconomics - I shared all my learnings and how my knowledge would make an impact at RBI. Soon enough, I got my confirmation as an intern and the rest, as they say, is history.
On the first day of my internship, the onboarding process was smooth and seamless. I still couldn’t believe that I was now officially interning at RBI. After all the documentation processes, I hit the ground running. I was given a brief about the banking landscape in India and how banks have evolved over the years, which then paved the way for my research work. I worked on analyzing the financial health of co-operative banks in Andhra Pradesh and Telangana, assessing them on various parameters. This also gave me an in-depth understanding of new concepts and ideas which I had learned as a first-year MBA student.
Working remotely, while it’s not a new concept, came with its set of challenges. An MBA program that interweaves liberal arts into its curriculum helps prepare you for these real-world challenges, and that’s why the whole process of pursuing an education and internship virtually wasn’t as difficult as one would’ve imagined. The internship was research-intensive with the added advantage of mentors sharing their views and guiding me in every step of the process.
Right from insightful conversations to discussing the progress of the research project, I am truly grateful to RBI for giving me the opportunity to interact with some of the brightest minds in the country and help me hone my skills. I am also grateful to all the professors at IFMR GSB for always encouraging us to do better and work towards achieving our goals.