India has seen a spurt in institutions that offer banking courses in recent times, which can be a pointer to the increased number of job opportunities and the willingness of youngsters to serve the banking sector. With a large number of private and foreign banks expanding its operations in India, the financial sector, which was hitherto controlled by the nationalised and scheduled banks has seen a sea of change with new marketing strategies and customised financial products being implemented on a day-to-day basis.
This has resulted in an increased demand for quality banking professionals adept in bank management and other related areas. Banking courses offered by various institutions and universities are designed to train aspiring youngsters in the banking industry. They not only help students grasp the intricacies of the banking system but also impart a structured training schedule to make them experts in various core-banking areas.
Students can pursue various banking courses at the undergraduate level with BBA (Banking and Finance) and B.Com in Banking Management being some of the popular ones. For those who have completed their graduation, an MBA from a reputable institute or PGDM in Banking and Financial Services Management offered by IIMs opens the door automatically to the top echelons of the banking industry.
In addition, there are a large number of postgraduate degree or diploma courses that train and prepare them for a job in the banking sector, especially in private sector and foreign banks, which absorb freshers through a more personalised process. Further, specialised banking courses are offered by the National Institute of Bank Management (NIBM), Pune and Indian Institute of Banking and Finance (IIBF), Mumbai.
While banking courses are an added bonus, anybody who wants to secure a job in the nationalised or scheduled banks will have to pass and secure a good rank in the common entrance test organised by the consortium of nationalised banks, which conduct probationary officer exams and clerical grade exams on a regular basis.
Certain private sector banks have tied up with some educational institutions to offer banking courses tailor-made to suit their demands with students being absorbed by the concerned bank on the satisfactory completion of the course. These are usually self-financing courses but banks offer educational loans at liberal rates to deserving students who can pay back once they join the concerned bank.
Furthermore, there are many cooperative banking courses offered by institutions that train students in various aspects of cooperative banking, which is a prerequisite for recruitment into cooperative banks. One can join these courses soon after passing out grade 12 exams or a postgraduate degree program.
With the banking sector on the upswing, the job prospects for those who have undertaken banking courses are definitely looking rosy. Nationalized banks recruit freshers for the post of clerks and probationary officers and provide ample opportunities to the new recruits to climb the ladder. Those who have joined as clerks can write the officer-level exams for getting promoted to the officer cadre after gaining experience and completing the stipulated time period into the system. Also, probation officers are promoted as grade I officers, senior officers, managers, senior managers, regional managers, and assistant general managers in a time bound manner with the quality of work, interest, learning, and involvement, proving to be the real benchmarks.
Further, there are jobs in plenty of private sectors and foreign banks but the organizational structure and promotional prospects are different from that of nationalized banks. Also, private sector banks are hiring those who have the aptitude for selling on posts, like direct marketing executives and personal bankers.
Other specialized jobs which are associated with banking courses and require core area expertise are that of the asset manager, credit and risk manager, portfolio manager, fund manager, financial analyst, loan officer, risk analyst, securities analyst, stock analyst, treasury manager, forex manager, internal auditor, tax assistant, etc.
Banking courses can equip students with the knowledge required for the banking industry, which is getting more product-oriented than ever before. So anyone who aspires for a banking job these days should have a flair for soft marketing along with the skills to back it up. Since banking involves a lot of trusts, any banker should be reliable to make the customer feel that he is safe when dealing with the bank and should be able to convince the customer accordingly. He should have a sound understanding of the fundamentals of banking along with a proven expertise in his core area within the bank.
Since banking involves financial transactions that can run up to large numbers, one should have an eye for detail and the across-checks regularly. He should have a fancy for numbers because numerical ability is an important part of accounting and banking finance.
With competition in the banking sector rising all the time, gone are the days when bankers used to work between 10 am and 5 pm. After choosing your desired banking course and completing the same, you’ll naturally look for a banking job. For that, you need to be flexible and work for longer hours depending on the requirement.
For graduate-level banking courses like B.Com, BSc and BBA, a student is eligible to enrol if s/ he has passed grade 12 or an equivalent exam recognised by the central/state board. Also, the candidate should be an Indian citizen and should have completed 17 years of age.
Various institutions admit students to the undergraduate banking courses through merit depending on the marks secured in the grade 12 exam. Certain institutes conduct their own entrance exam for admission. For postgraduate programs, the admission is based on the entrance exam.
For admission to the banking courses offered by IIMs or other reputable management institutes, candidates need to secure good ranking in the Common Aptitude Test (CAT). There are certain institutions that recognise the CAT score while others like Xavier School of Management (XLRI) conduct their own entrance exam.
The duration of the undergraduate banking courses like BBA in Banking & Finance or B. Com in Banking is three years while postgraduate courses require two years.
Most of the undergraduate banking courses are usually classroom-oriented with regular attendance being a mandatory feature for eligibility to appear for the final exams.
There is no uniform fee structure for banking courses. The fees depend on the type, of course, being pursued and the reputation of the institution offering the course. For undergraduate courses of three-year duration, the fees can be anything in the range of INR 20, 000 to 60, 000 per year.
|
Type |
Duration |
Fee (INR) |
|
1. BBA in Banking Finance 2. B. Com in Banking |
3 years |
20k to 60k per year
|
For postgraduate banking courses and other certificate programs like Masters in Banking, Finance and Insurance, M.Com (Banking and Finance), and Advanced Diploma in Banking Law and Practice, a candidate needs to be a graduate with a sound base regarding the fundamentals of banking.
In most of the institutions offering postgraduate banking courses, the admission is made through an entrance exam with appropriate weightage being given to marks secured in the undergraduate degree course completed. For admission to National Institute of Bank Management (NIBM), one has to clear entrance exam, group discussion and interview, while for Indian Institute of Banking & Finance (IIBF) one has to take an entrance test followed by enrollment as a member of the Institute.
The duration of diploma courses in banking is usually in the range of 1 to 1.5 years while certification courses range from 3 to 9 months.
Most postgraduate banking courses usually involve classroom study, but certain institutions offer postgraduate degree and diploma courses in the distance education mode with regular contact classes being conducted to assess the progress of training. Also, there are institutions offering part-time courses in banking for those who are already employed but want to hone their skills.
For postgraduate banking courses like M.Com in Banking, M.Com Banking and Insurance and others, the fees can range between INR 50,000 to INR 1,00,000 per year if one joins a self-financing institution to pursue the banking course. For those who get admitted in government institutions, the fees could be much lower.
|
Type |
Duration |
Fee (INR) |
|
1. M.Com in Banking 2. M.Com Banking and Insurance |
2 years |
50k to 1 lac per year |
The areas of specialization that one can take up while pursuing postgraduate banking courses include:
After specializing in this banking course, Financial service management professionals help keep a company financially stable by examining whether companies and organizations are financially secure and have financial freedom of choice, in the present and future.
The job of a person who specialises in managing organisational behaviour in the banking field is to understand personal and organisational growth as well as performance. An organizational behaviour professional analyses the impact of functional or dysfunctional strategic intent, culture and leadership behaviours on organisational change.
Accounting executives supervise a company's financial habits and spending procedures and ensure the effectiveness of accounting activities - financial reporting and management of internal controls - in an organization.
Students enrolled in any banking course can specialize in Human Resource Management. An HR manager upgrades the manpower working in an organisation in their course. The person will also be involved in promoting healthy relationships between the staff and management, handling labour disputes and guiding department managers through employee issues.
A debt management professional is responsible for handling debt problems between various entities, and building new relationships while maintaining the existing ones with various banks. The person will execute debt finance transactions with Banks/ Non-Banking Financial Companies(NBFCs)/Financial Institutions.
The insurance industry offers a wide range of jobs including sales, surveying, actuarial work, claims handling and investigation, risk management, underwriting, investment management, and pensions management.
Well, there are a variety of more options offered by banking courses. For specific information-seekers. M.Com specialisations include Accounting for Managerial Decision, Advanced Financial Accounting, Corporate Financial Accounting, Financial Institutions and Markets, Project Planning and Control, Security Analysis and Portfolio Management, Advertising and Sales Management, Consumer Behaviour and Marketing Research, Foreign Trade Policy, Procedures and Documentation, International Business Environment, International Marketing, and Quantitative Techniques and Research Methodology.