The Finance Ministry wants to get ‘refreshing ideas' from young scholars with brilliant academic background from reputed academic institutions.
Towards this end, the Department of Financial Services (DFS), Ministry of Finance, has decided to take interns from reputed economic institutes/schools, national management institutes and national law schools.
Young scholars, who usually tread the beaten path — joining investment banks or consulting firms or commercial banks — to do their internships, will now get a chance to dabble in policy-making.
Policy formulation
The DFS expects the interns to add ‘flavour' to its functioning during their internship of two to three months. The interns will be attached to a Deputy Secretary / Director-level officer in a particular division of the DFS.
They will work in areas such as banking sector reforms, agricultural and rural credit, industrial finance, financial inclusion, insurance and pension reforms.
According to a Ministry notification, refreshing ideas from the interns will enable the department to critically analyse its activity and take corrective steps in an objective and impartial manner.
The interns will get an opportunity to familiarise themselves with the overall process of economic policy formulation of the Government at the macro level.
The Department intends to take just 15 interns in a financial year.
Critical analysis
“The need for an internship programme beneficial to both the Department and the intern has been felt for quite some time. The interns will get to critically analyse the procedures and laws administered by the DFS,” said the notification.
Though the DFS is offering only a ‘token remuneration' of Rs 5,000 per month per intern, scholars interested in policy-making may find the experience rewarding.
The DFS will issue a certificate of internship and pay remuneration to the intern on satisfactory completion of internship and on submission of a report/paper.