CAFRAL is a research institution set up by the Reserve Bank of India.  Our focus is on the areas of banking, finance and macroeconomics. Within these broad areas, our interests include credit risk, monetary economics, mortgage markets, open economy macroeconomics and consumer finance.  

CAFRAL aims to build intellectual capacity in these areas through its own internal hires, by hosting researchers of international repute, and facilitating collaborative research by building data resources and analytical capabilities. 

The selected candidates –

• Will assist and work with CAFRAL researchers on projects. The output will be papers targeted for publication at high quality finance and economics journals and articles that inform policy.
• Will assist in putting together the data resources and assist with the relevant analytical statistical and econometric tools necessary to execute the research projects.

Research interns can expect a vibrant research environment, exposure to issues of policy and academic interest, and the chance to work with interesting datasets and mathematical and statistical toolkits used to address research and policy questions. They will interact with senior faculty and scholars from top ranked universities and research institutions in the world.

We prefer applicants who have completed their Master’s degree in finance, economics, statistics and data analytics, engineering or computer science with significant potential to excel in the above requirements. Programming skills in STATA and MATLAB or ability to acquire them are necessary. Candidates with Bachelor’s degrees will also be considered on case-by-case basis. Candidates currently pursuing their PhD are also strongly encouraged to apply.

Strong motivation is critical.  Our work environment gives you many opportunities to learn and participate in research. Candidates should be enthusiastic about our core areas of research and also be capable of benefiting from what we do in these areas.

The position provides excellent experience for those interested in pursuing a PhD at a top program. Past research interns have also managed to convert their position to full-time Research Associates. Past Research Associates have secured admission into top universities such as University of Chicago, MIT, University of Washington at Saint Louis, University of California at Berkeley, University of Texas (Austin), Boston College, University of California at Irvine, University of Washington (Seattle) & University of Maryland. Past research interns have also managed to convert their position to full-time Research Associates.

Date of Joining

Joining dates in summer 2023 are preferred, but we are open to later or earlier joining dates, depending on space availability. You are requested to download the application and filled in application may be forwarded to admin@cafral.org.in