Ref.No: IRDAI/HR/INTERNSHIP/2020 4thMarch, 2020
IRDAI proposes to offerinternship to students who are pursuing Graduate and Post graduate courses orResearch from reputed universities and educational institutions during theSummer recess.
Theterms and conditions of internship are as under.
1. Theeligibility conditions for the students:
a)Bona-fide students in the pre-final of their graduation (4th year, in the caseof Law graduates pursuing Five year integrated course) with consistentexcellent academic records; or
(b)Students possessing graduation degree and are in the pre-final year of post graduation;or
(c)Students who are pursuing one year Masters degree; or
(d)Students possessing post graduate degree and pursuing full time Researchcourses in Insurance/Economics / Finance / Management.
2. TheIntern shall be a regular student of the university/institution.
3.The internship program is open to Indian citizens only.
4. Theinternship is for carrying out project/get training in the area of insuranceonly from regulatory perspective. The minimum duration of the internship is twomonths and a maximum of three months.
5. There will be a Scrutiny Committee which will scrutinize theapplications and shortlist the applicants for the personal interview. Theshortlisted applicants will be called for the personal interview, if required,and the Selection Committee will recommend the names of the candidates. Onlythe candidates who are selected for internship will be intimated.
6. Basedon their credentials, the IRDAI may consider offering them internship indifferent areas based on their aptitude and/or interest and as per selection bythe Screening Committee.
7. Thedeliverables from the internship are decided at the time of offering theinternship itself. The interns are required to furnish a declaration of secrecybefore reporting for the Internship.
8. Internshipwill be offered at IRDAI’s Head Office in Hyderabad commencing in May, 2020. IRDAI will provide office space, internet connectivity and othersupport facilities to the interns. Apart from this, no other facilities shallbe provided to the interns by IRDAI.
9. Theinterns will be paid a stipend of Rs. 15,000/- per month. Selected outstation candidates will be reimbursed to and froactual single II AC railway fare. The actual single II AC railway fare will bereckoned by the shortest route from the place of their residence/place of theirinstitute to place of summer internship for undertaking the project. Apartfrom these, there will be no other remuneration or payment.
10. Itshall be the responsibility of the Interns to make their own arrangements foraccommodation and laptops. Working space/internet facility and also othernecessities as deemed fit will be provided by IRDAI.
11. Theproject will be monitored by a Supervising Official of the Department allocatedwho will act as Project Guide.
12. Oncompletion of the project, the intern will have to make a presentation on theProject to the HODs in IRDAI and submit a report to HR Department. The Internwill also submit a report / working prototype / model to the IRDAI Library.
13. Thenumber of interns will be around 10.
14. IRDAIshall be free to use all the research and academic output as may beappropriately decided.
15. Theinterns shall have no right/claim for an appointment in IRDAI by virtue oftheir internship.
16.IRDAI can instruct the intern to terminate the programme at any time, as IRDAIdeems fit, and without showing any reason. IRDAI’s decision shall be final inthis 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, theintern is unable to serve the notice period he/she would have to pay an amountequivalent to one month’s stipend.
17.Interested students may submit their applications in the prescribed format only,duly certified by the sponsoring Institution in a closed envelope superscribedas “Application for Internship” addressed to:
TheExecutive Director (Gen)
InsuranceRegulatory and Development Authority of India
SurveyNo.115/1, Financial District, Nanakramguda
Hyderabad- 500 032.
18.The application complete in all respects should reach on or before 5.00 PMon 24th March, 2020. A copy of the same may be sent onemail to email@example.com.
19.Applications which are incomplete or not in the prescribed format or notreceived before the last date of receipt of application are liable to besummarily rejected.
20.IRDAI does not assume any responsibility for the candidates not being able tosubmit their applications within the last date on account of or for any reasonbeyond the control of IRDAI.
21. Allcorrespondence will be made through Email and Speed Post. Therefore, all thecandidates are advised to provide correct e-mail address and check theire-mails regularly for any updates from IRDAI.
22. IRDAIreserves the right to cancel the notification fully or partly on any grounds.
23. Corrigendum: Pleasenote that Corrigendum, if any, issued on the above advertisement, will bepublished only on the IRDAI’s website.