SCHOOL OF BANKING, FINANCIAL SERVICES & INSURANCE
The Indian financial sector is experiencing rapid growth both in terms of a number of institutions and their diversity with several categories of new entities entering the market. The sector comprises:
- Various types of banks (public sector banks, private sector banks, foreign banks, cooperative banks – urban and rural, regional rural banks, payment banks, small finance banks etc)
- Various classes of non-banking financial companies (loan, investment, asset finance, microfinance, infrastructure, asset reconstruction, etc), insurance companies (life, general, health and reinsurance)
- Pension funds, mutual funds and other financial intermediaries that provide banking, insurance and financial services
Given that the financial sector comprises various classes of entities largely in Banking, Financial Services and Insurance domains, the popular acronym to refer to them is ‘BFSI’. This sector can take advantage of the growing domestic market, increasing investible surplus owing to the growth story, growing need for protection, diversification of investments and provision of globally competitive standards of service. India’s banking and financial sector is gearing up for the same by expanding rapidly.
The projected number of jobs in BFSI sector is likely to be 8.4 Million by 2022. BFSI sector has tremendous growth potential in the coming decades as it thrives on growth opportunities that are linked with socio-economic development of the nation.
The BFSI sector provides opportunities of a whole spectrum ranging from the employment of a secure nature as in case of public sector banks and insurance companies to individual entrepreneurship by being Financial Consultants, Portfolio Managers to Fund Managers etc.
The continuous need of skilled manpower who can counsel to understand customer nature and sell appropriate product or product mix depending upon financial requirement is a challenge that needs to be supported by the education infrastructure.
Banking: In the last two years, 68,000 to 70,000 vacancies have been filled up in public sector banks including in SBI. The number of candidates who registered for the common written examination for officer cadre posts in public sector banks conducted by the IBPS in 2016-17 was 19.67 lakh up from 15.76 lakh in the previous year. Private sector banks also provide immense opportunities for employment at different levels based on knowledge and experience. Entry of new banks like Payment Banks and Small Finance Banks has also added to the need for skilled manpower.
Insurance and pension: The level of insurance inclusion in life, general and health insurance is very low and there is immense scope of increasing the coverage. For this purpose, there is a need to have a lot of skilled manpower for the handling of marketing as well as other functions of insurance business like underwriting, claims management and policyholder servicing. There is immense scope for setting up insurance marketing firms and acting as agents, point-of-sale persons etc as individuals.
Financial Services: Non-banking financial entities – which have also increased manyfold – provide opportunities for employment and entrepreneurship. Financial Analysis, Portfolio Management, Infrastructure Finance, Asset Recovery and Reconstruction, Stock Broking, Merchant Banking, Factoring, Asset Management etc are areas where there is a huge demand for skilled professionals. There is immense opportunity for being entrepreneurs as personal finance managers, portfolio managers, sub-brokers, mutual fund dealers etc.
- Officers in banks handling retail banking, corporate banking, treasury operations, portfolio management, cash management, etc.
- Direct selling agents of banks for loans, deposits, insurance and investment products etc.
Insurance and Pension
- Officers involved in marketing, underwriting, claim handling, treasury and investment operations etc.
- Officers working as corporate agents and insurance brokers, insurance marketing firms, third party administrators etc.
- Individual agents, micro-insurance agents, point of sale persons, point of presence persons, insurance and pension advisors etc.
- Officers in non-banking financial companies like loan / gold / investment / infrastructure / finance / microfinance / asset reconstruction, asset management, stock broking, venture capital, merchant banking companies etc.
- Independent financial consultants, sub-brokers, portfolio managers, fund managers, mutual fund advisors etc.
India’s first Skill University – Symbiosis University of Applied Sciences – boasts of a robust academic portfolio that is led by the School of Banking, Financial Services & Insurance (SBFSI). It is the forerunner that holds bastion of delivering academic programmes both at Graduate and Undergraduate levels that are well-aligned with objectives and Qualification Packs (QP) of BFSI Sector Skill Council. The School offers MBA in Banking, Financial Services & Insurance and BBA in Banking, Financial Services & Insurance Programmes that have a structured course approved by Industry experts and delivered by well qualified and vastly experienced professors. Moreover, it is supported by practical exposure and skill training that is effectively delivered with the help of Live Projects, Corporate Case Studies and the use of Modernistic Educational Technology.
BBA in Banking, Financial Services and Insurance
The BBA in Banking, Financial Services & Insurance has been mapped to job roles in demand in the financial sector. The 3-year programme builds a strong foundation of Basics of Business Administration in Banking, Basics of Business Economics, Basics of Law, Basics of Research Methodology, Basics of Information Management, Corporate Taxation, Share and Security Transactions, Financial Accounting, Business Mathematics, Statistics, Property Insurance, Basics of Credit Business, Personal Insurance, Corporate Finance, Business Policies of Financial Services, Money and Currencies etc. It also builds an understanding of the financial sector as a whole. In the III and IV semesters, students can enhance their domain knowledge in leasing followed by Asset Management in III year.
Additionally, students can opt for electives to enhance their domain knowledge in V and VI semesters. Depending on specialisation, appropriate training is planned. Appropriate virtual lab classes are planned to give insight of stock trading and banking. In the V and VI semesters, a project needs to be prepared on real-time problems. Overall, the course is structured in a way to give well-rounded knowledge and practical training to students on which they can build further and become valuable contributors in the professional world.
Duration: Three Years
MBA in Banking, Financial Services and Insurance
- Major placements in companies like Federal Bank, HDFC & Reliance, PNB Housing Finance, AU Small Finance Bank, Bajaj Fin, HDFC AMC, Marquee Equity.
- 100% winter placements (semester-long / 6-month internship in IV Sem) for MBA
- Focus on skills as it is the first skill-based university in India
- Environment to encourage internships from day one
- Skill-based curricula for industry ready professionals
- Course designed with inputs of industry experts based on NSQF
- Unique pedagogy: practical to theory ratio is 70:30
- Facilities like mock bank and finance plaza
- Focus on industry visit and research-oriented analysis
- Industry assessments to ensure industry ready professionals
- Qualified and experienced faculty members from both academics and industry
Duration: Two Years
Training bank for replicating the environment of a typical bank branch
- Cash Area
- Account Opening Desk (Liabilities)
- Loan Servicing Desk (Assets)
- Safe Deposit Lockers
- Insurance Advisor
- Investment Advisor
- Equity Desk
Finance Lab for replicating consumer interaction & education environment and for honing soft skills
- Financial Literacy
- Financial Counselling
- Investment Advise
- Complaint Registration and Handling
- Daily Updates in BFSI
Master of Business Administration (MBA)
- Passed bachelor’s degree of minimum 3 years duration.
- Obtained at least 50% marks for general (open) category in qualifying examination.
- Obtained at least 45% marks in case of candidates belonging to the State of Madhya Pradesh in a reserved category (excluding creamy layer) in qualifying examination.
- Valid score card of entrance exam of State / National level as notified by the University.
- Qualify in personal interview conducted by Symbiosis University, Indore.
Bachelor of Business Administration (BBA)
- Passed 10+2 or equivalent course in any discipline from any recognised board / council / university with minimum 50% marks for general (open) category belonging to the State of Madhya Pradesh.
- Passed 10+2 or equivalent course in any discipline from any recognised board / council / university with minimum 45% marks for students of reserved category (excluding creamy layer) belonging to the State of Madhya Pradesh.
- Qualify in personal interview conducted by Symbiosis University, Indore.
NRI / International Students
A candidate who has completed XII (10+2) or equivalent examination from any Foreign Board must obtain an equivalence certificate from the Association of Indian Universities (AIU). All foreign qualifications need to be verified by AIU before seeking provisional admission in any programme of Symbiosis University, Indore. In order to promote international understanding between Indian and foreign students, SUAS has reserved 5% seats for NRIs / international students in every division.