Internship @ Centre for Excellence in Corporate Law, RMLNLU : A Practical Exercise in Banking Law

Name of Organisation, Location, Team Strength

Centre for Excellence in Corporate Law, Dr. Ram Manohar Lohiya National Law University, Lucknow, Team of about 10 people

Application Process

There were 4 slots available for undergraduate students from DR. RMLNLU only.

Other slots were available for post-graduates and research scholars from other colleges.

CVs were called for and interviews were taken on the basis of which 4 interns were short-listed.

Duration of internship and timings

About 2 months. We had to work in the University campus itself, after classes.

First impression, first day formalities, infrastructure

Well, no formalities really since the internship was in college itself and the people heading this research project were our own professors.

We were given some background notes on the work that we had to do.

Main tasks

The broad task was to prepare a report on the project titled “Overall Developmental Contribution of Scheduled Commercial Banks Operating in the State of Uttar Pradesh.”

The undergraduate interns had to basically help in preparing a questionnaire, and then survey common people and banks in Uttar Pradesh regarding various aspects such as the Know Your Customer Norms.

Work environment and people

The work environment was great and comfortable since most of the team comprised of University students and professors.

Best things

I got to learn so much about the whole banking system like how exactly fixed deposits, current accounts, Real-Time Gross Transfer etc. work.

I discovered through the surveys how unaware the common people are about the banking system, even though they hold bank accounts.

I discovered that even the Bank managers were not aware or were deliberately not fulfilling their duties as required.

I got to be involved in the process of field research which is a very rare experience for a law student today. Some other interns even traveled to Banaras to conduct the surveys and had a great time!

Bad things

The work was a little monotonous and it was a real struggle to get people to answer the questions.

Stipend

Rs. 5000 and lemon tea everyday!

Biggest Lessons

This internship taught me a lot about the practical banking system and gave me an idea about how an empirical research is done even though my field of interest does not lie in Corporate and Banking Law.

Any Other Thing

This internship is no longer available because the project was sponsored by the State of Uttar Pradesh and the project has now been completed.