MBA Internship Experience 2018: Practical exposure at RBI added value to my learnings received at SSBF, says Manjeet Saini
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Symbiosis School of Banking and Finance Pune
SPJIMR, Mumbai

MBA Internship Experience 2018 – A summer training is an opportunity for management students to explore the real life challenges and obtain a hands-on experience of how the different functions work in coherence. An internship also makes one aware of the various roles and responsibilities across functions of management within an organisation. In this series of ‘MBA Internship Experience 2018’, Careers360 brings the experience of Manjeet Saini, MBA (Banking and Finance) batch of 2019 student of Symbiosis School of Banking and Finance, Pune. He was selected by the Reserve Bank of India to work in the Department of Currency Management as part of the Summer Internship process. At RBI, he learnt strategies and applied theories to successfully complete his internship project in the summer of 2018.

Despite facing challenges like lack of data, which is bound to occur due to confidential reasons at RBI, Manjeet learnt to overcome and solve problems quickly to compile his research. His study on “Demand and supply analysis of currency in circulation’’ was aided by his corporate mentor at RBI and institute mentor at SSBF Pune. By the end of his Summer Internship tenure, he received a practical exposure to how things work in the department of this prestigious financial institute of the country, which added value to whatever he learnt at SSBF. Manjeet learnt about the supply-chain management of currency, cost-efficiency of currency notes production and understood the mismatch between the demand and supply of currency in circulation. Read on to know more details about Manjeet’s summer internship experience to find out how he prepared for it and created a memorable experience for himself.

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Excerpts from the interview:


Careers360: What was the duration of your internship? What was the stipend amount offered to you?

Manjeet: The duration of my internship was for almost two months i.e. from April 2 to May 31, 2018. The stipend amount was Rs. 30,000.


Careers360: What was the total team size with which you were working?

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Manjeet: I worked in the Department of Currency Management which had around 40 to 50 employees.

Careers360: Were you the only student from SSBF selected for the RBI internship? Which other B- School students were part of the summer internship project?

Manjeet: There were a total of four students from SSBF selected for the RBI internship. As many as 125 interns were selected this year by RBI. All interns were located at various offices of RBI. In the Mumbai office, besides SSBF there were students from NIBM Pune, IIM Indore and Symbiosis School of Economics.

Careers360: Please share the details of your project and your role in it?

Manjeet: The topic of my project was “Demand and supply analysis of currency in circulation’’. The project was divided into two parts. In first part I did a complete trend analysis of currency in circulation over the past five years (2012-17). It also involved analysing volume of currency, value of currency, indent vs. supply and to find out reasons thereof. These were supported through charts and graphs. In the second part, I did a complete study of the factors that resulted in the changes in demand and supply of currency in circulation and vice versa. The factors included Inflation, interest rates, RBI dividend to government, GDP, Investments and Digital India.

My role was similar to that of a researcher as I had to understand and analyse documents from both primary and secondary sources and make a complete report on the basis of assessments, studies done.

Project Executive Summary

Currency management is a process which consists of planning, designing, issue and withdrawal of currency, and ensuring its integrity, availability and the maintenance of quality on a regular basis. The Department of Currency Management of the Reserve Bank of India is entrusted with taking policy decisions on the design of bank notes, forecasting the demand for notes and coins, ensuring a smooth distribution of bank notes and coins throughout the country and withdrawal of unfit notes. It also administers the RBI Note Refund Rules and reviews the work of the systems at the Issue Offices on a regular basis.

Over the past five year’s Indent for bank notes has always been greater than supply. Exception to the case is the year 2016-17 when the supply was greater than the indent to the tune of 993 million pieces. This is huge in comparison to the previous years trends. The main reason for the supply being greater is due to the introduction of new Rs. 500 Denomination notes of Mahatma Gandhi series to the tune of 7260 million Pieces which was higher than any other denomination in that particular year. Even though the volume increased at a consistent level even during the year of demonetisation, in terms of value it decreased.

In the year 2016–17 the total expenditure incurred on security printing stood at Rs. 79.65 billion as against Rs. 34.2 billion during 2015-16. The upsurge in the expenditure was due to several factors like change in production plan, printing of new notes of Mahatma Gandhi series, airlifting of banknotes. The number of currency chests could be restricted to just one per district as against three or four as the management of a large and single currency chest is easier rather than few small currency chests. This would result in a good supply chain model. In the coming future the demand for currency is expected to come down with more people shifting to digital transactions.

Careers360: What was your plan to execute the project?

Manjeet: The most important step is to fine tune the basics before going deeper into the project. I spent my initial two weeks to understand the nuances and various terminologies, for which I took help of my mentor, referred to books in library, annual reports of RBI and documents given to me by the department. Once I was all updated with my basics I started working on my project. I used several sources, made a blueprint and kept on working towards it.


Careers360: How were you connected with your academic mentor at your B-School during your internship?

Manjeet: We have a well planned approach according to which each student is allotted an academic mentor. Besides sending weekly reports as mandated by the Institute, I continuously interacted with my mentor and kept him/her updated on my project.

Careers360: What were the key challenges you faced during your internship?

Manjeet: The key challenge was lack of availability of adequate data for my project because of confidentiality I could not have access to much of data. However, my mentor at RBI helped and guided me in every possible way by providing me with the necessary and relevant information time and again for the successful completion of my project.

Careers360: What was your key learning during the project and your achievements after completing the internship?

Manjeet: I learnt about the supply-chain management of currency, cost-efficiency of currency notes production, understanding the mismatch between the demand and supply of currency in circulation. I believe working with great minds has definitely brought about improvements in my personality and I see a positive difference before and after completion of my internship.

I also got a practical exposure to how things work in the department which has added value to whatever I learnt at SSBF. I have become more informed and learned about the functioning of the currency department.


Careers360: How did your corporate mentor at internship help you execute the project?

Manjeet: My corporate mentor Mrs. Esabale Bage (General Manager) helped me at every stage I sought her help. In spite of her busy work schedule, she devoted her time and shared her knowledge with me. I learnt a lot of things about RBI in general and currency department in particular. She provided me with the insights of how the currency circulation takes place and also cleared my doubts and corrected me whenever I went wrong. I am very grateful to have worked under her.

Careers360: How was your interaction with other employees during your internship period? Would you like to come back to the place for a job?

Manjeet: I can definitely say that all employees of RBI work as a family. They are great minded people and ready to help at any point when asked. At every hierarchical level employees are down to earth and humble. I have had very good interactions with few employees and also made some friends. I believe that RBI is a great institution to work where every employee is dedicated and involved in his work with full enthusiasm and dedication. I definitely look forward to joining this great institution.


Careers360: Share a memorable incident from your internship days.

Manjeet: There are several memorable incidents at RBI. One incident that I remember was when we used to go out of office after our lunch break. One day post lunch we decided to go to RBI Museum which was adjacent to the building where I was interning. At first sight I thought it would be just a small museum but to my amusement it was a store house of the history of coins and notes of our country.

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Hello there!


I am extremely sorry to tell you dear but Symbiosis Institute of Technology i.e SIT doesn't offer aerospace engineering unluckily , SIT which is a constituent of Symbiosis International (Deemed University) was established in the year 2008 and offers B. Tech programmes in Civil, Computers, Electronics & Telecommunication, Information Technology and Mechanical engineering only.
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which college is best for BA.LLB,Symbiosis or Christ?

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Hello Manisha,
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There is no doubt that Symbiosis Law college, Hyderabad is ahead of Christ Law College on most of these parameters. Symbiosis has a good reputation in the industry which helps to drive your career in a competitive environment. Symbiosis Law school stands 4th best law school in India.
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last year cut off for commerce in symbiosis college

Nilutpol Student Expert 1st Nov, 2019
The cutoffs for in symbiosis institute are very high. To be assured a seat in it, you must would have scored more than 90% in commerce class 12 from a recognized board. Also you have to wait for at least 3-4 merit list for your name to appear if you have less than 95%. Last year the cutoff the cutoff as around 85% and not less than that.
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Naveen Meena Student Expert 1st Nov, 2019

Dear Pooja, the minimum eligibility for taking admission in Symbiosis College in B. Com is that the student must have Passed 10+2 with commerce stream and mathematics should be opted as a relevant subject from ICSE or CBSE or any such recognized board with 50% marks under GEN CATEGORY. For SC/ST/DA/PWD there is relaxation of 5% in marks.

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minimum percentage required to take admission in symbiosis college

Nilutpol Student Expert 1st Nov, 2019
For getting admission into symbiosis institute for, you must should have passed class 12 from CBSE or any recognized board. For general category, you need a minimum of 50 % in 12th and for ST SC and OBC, you need 45% in 12th. Also you must be from the commerce stream.
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