No: IRDAI/HR/INTERNSHIP/2020 4th
IRDAI proposes to offer
internship to students who are pursuing Graduate and Post graduate courses or
Research from reputed universities and educational institutions during the
terms and conditions of internship are as under.
eligibility conditions for the students:
Bona-fide students in the pre-final of their graduation (4th year, in the case
of Law graduates pursuing Five year integrated course) with consistent
excellent academic records; or
Students possessing graduation degree and are in the pre-final year of post graduation;
Students who are pursuing one year Masters degree; or
Students possessing post graduate degree and pursuing full time Research
courses in Insurance/Economics / Finance / Management.
Intern shall be a regular student of the university/institution.
The internship program is open to Indian citizens only.
internship is for carrying out project/get training in the area of insurance
only from regulatory perspective. The minimum duration of the internship is two
months and a maximum of three months.
5. There will be a Scrutiny Committee which will scrutinize the
applications and shortlist the applicants for the personal interview. The
shortlisted applicants will be called for the personal interview, if required,
and the Selection Committee will recommend the names of the candidates. Only
the candidates who are selected for internship will be intimated.
on their credentials, the IRDAI may consider offering them internship in
different areas based on their aptitude and/or interest and as per selection by
the Screening Committee.
deliverables from the internship are decided at the time of offering the
internship itself. The interns are required to furnish a declaration of secrecy
before reporting for the Internship.
will be offered at IRDAI’s Head Office in Hyderabad commencing in May, 2020. IRDAI will provide office space, internet connectivity and other
support facilities to the interns. Apart from this, no other facilities shall
be provided to the interns by IRDAI.
interns will be paid a stipend of Rs. 15,000/- per month. Selected outstation candidates will be reimbursed to and fro
actual single II AC railway fare. The actual single II AC railway fare will be
reckoned by the shortest route from the place of their residence/place of their
institute to place of summer internship for undertaking the project. Apart
from these, there will be no other remuneration or payment.
shall be the responsibility of the Interns to make their own arrangements for
accommodation and laptops. Working space/internet facility and also other
necessities as deemed fit will be provided by IRDAI.
project will be monitored by a Supervising Official of the Department allocated
who will act as Project Guide.
completion of the project, the intern will have to make a presentation on the
Project to the HODs in IRDAI and submit a report to HR Department. The Intern
will also submit a report / working prototype / model to the IRDAI Library.
number of interns will be around 10.
shall be free to use all the research and academic output as may be
interns shall have no right/claim for an appointment in IRDAI by virtue of
IRDAI can instruct the intern to terminate the programme at any time, as IRDAI
deems fit, and without showing any reason. IRDAI’s decision shall be final in
this regard. Intern can choose to leave the programme, if she / he so desires,
giving prior notice of one month to IRDAI. If under any circumstances, the
intern is unable to serve the notice period he/she would have to pay an amount
equivalent to one month’s stipend.
Interested students may submit their applications in the prescribed format only,
duly certified by the sponsoring Institution in a closed envelope superscribed
as “Application for Internship” addressed to:
Executive Director (Gen)
Regulatory and Development Authority of India
No.115/1, Financial District, Nanakramguda
- 500 032.
The application complete in all respects should reach on or before 5.00 PM
on 24th March, 2020. A copy of the same may be sent on
email to firstname.lastname@example.org.
Applications which are incomplete or not in the prescribed format or not
received before the last date of receipt of application are liable to be
IRDAI does not assume any responsibility for the candidates not being able to
submit their applications within the last date on account of or for any reason
beyond the control of IRDAI.
correspondence will be made through Email and Speed Post. Therefore, all the
candidates are advised to provide correct e-mail address and check their
e-mails regularly for any updates from IRDAI.
reserves the right to cancel the notification fully or partly on any grounds.
23. Corrigendum: Please
note that Corrigendum, if any, issued on the above advertisement, will be
published only on the IRDAI’s website.