The banking industry is one of the most significant segments of the Indian economy. There is a significant demand for individuals with specialised knowledge and skills due to the quick expansion and evolution of bank goods and services as well as the rising demand for financial inclusion in our nation. Examples of these include commercial banking, credit management, trade finance, and investment banking. In India, the insurance sector is becoming more significant. According to the CAGR of 7.5 per cent for life insurance premium growth between FY02 and FY16, this sector is set up for future growth and employment generation. Let’s examine the banking programs in greater detail:
Most Popular Banking Courses for Students
- Financial Accounting
An introductory course, financial accounting introduces students to fundamental accounting ideas as well as the rules that control financial accounting systems. In addition to learning how to analyse and understand financial data, students will also learn how to construct fundamental financial accounting statements such as the balance sheet, income statement, and cash flow statement. It covers important ideas including revenue recognition, record keeping, inventory accounting, bank reconciliation, and accounting standards and does not call for any preparatory courses.
- Investment Banking
One of the most profitable jobs open to bankers is investment banking, and this course gives students the theoretical and conceptual tools investment bankers need to succeed in their field. It offers the theoretical foundation that investment bankers can utilise for deal structure, valuation, and financial analysis.
The activities of investment banking as well as how to value, bargain, and conclude deals will be taught to the students. Additionally, they study corporate ethics, morality, and legal aspects of investment banking operations.
- Money and banking
The dynamics of a financial system, including money, financial markets, financial institutions, and intermediaries, are taught to students in the money and banking course. Students gain knowledge of monetary policy, the Federal Reserve’s operations, and the purposes and activities of financial institutions in the economy. Along with understanding the structure and hazards involved, they also learn how interest rates are determined.
- Principles of Economic
Basic economic concepts, theories, and methods are introduced to students in the economics course. Both macroeconomics (the overall economy) and microeconomics are covered in the course (decisions by households and companies). It helps students understand the market for inputs and products, consumer behaviour, and economic activities associated to production. Additionally, students gain a much deeper understanding of how to examine and interpret economic data as well as how to create their own judgments on economic topics and occurrences.
Private Banks that Provide Banking Courses
There is a strong demand for qualified human resources in the banking sector, one of India’s fastest expanding businesses. In order to fill openings for Probationary Officer (PO) posts, specialist officer positions, and administrative positions in government banks, the Institute of Banking Personnel Selection (IBPS) holds national-level exams. Each of its associate banks has a unique hiring process.
In order to fill positions, private banks including ICICI Bank, Axis Bank, Kotak Mahindra Bank, Federal Bank, and others are increasingly working with educational institutions. These banks offer students a Post Graduate Diploma in Banking Management. After completing the program, students are promised employment in the banking industry as Management Trainees (MTs) and Probationary Officers (POs).
- In collaboration with Manipal University, ICICI offers a Post Graduate Diploma in Banking.
- The ‘Young Bankers’ Program’ at Axis Bank provides a PG Diploma in Banking.
- Graduate Analyst Programs are available at HSBC for two years.
Although the course names may vary amongst banks, the content is often the same. Among the subjects covered include financial management, accounting, risk analysis, banking services, and relationship management. Students are required to conduct a three-month internship with a bank after completing nine months of classroom study. An entrance exam is given to those who wish to enrol in these courses. Anyone who has earned their diploma is eligible to take the entrance exam for the banking program. Questions on English communication skills, quantitative aptitude, logical reasoning, reasoning ability, and general knowledge are frequently seen on the banking entrance exam paper.
The average length of a course with a banking career guarantee is one year. Private banks also provide stipends to those candidates who are chosen for the “job guarantee” courses. For classroom instruction and internships, Axis Bank offers stipends of Rs 5,000 and Rs 9,000, respectively. Other banks are offering loans to pay for tuition and other academic costs. Candidates can repay the loan amount in “EMIs” after they begin working. A three to six-month “repayment holiday” is available for students to use once the course is over to repay their student debts.
Certification Courses with Placement
A hybrid learning programme called the Certificate Course in Banking is offered by Welingkar Education. For both recent grads and working professionals, it is a six-month curriculum. Your general management skills will be enhanced or developed as a result of this course. The course’s faculty consists of distinguished academics with industry experience.
To have first-hand exposure with the course contents, candidates can enrol in the online Post Graduate Certificate in Retail Banking (PGCRB) course. The course aims to prepare students for a career in banking by providing them with a broad grasp of banking. Throughout the course, candidates will learn about the numerous procedures as well as banking policies. Candidates will receive a Post Graduate Certificate in Retail Banking (PGCRB) training certificate if they successfully finish the course. They can use this qualification to obtain employment in any of the fields in the future.
What to Take Into Account When Selecting a Banking Course
When choosing a banking course, students should take the following into account, among other things:
Price is a crucial consideration when selecting a banking course. In general, online banking courses cost less than those at traditional institutions. Some online colleges may offer free initial courses before charging for additional classes.
The course fee covers all textbooks, videos, assignments, tests throughout the course, and final exams. For access to the range of courses available on the platform, some online institutions may charge a subscription fee, which can be paid on a monthly, quarterly, semi-annual, or annual basis. Students receive a certificate of completion at the completion of the program that can boost their resume.
- Expertise of the teacher
Students should think about the instructors’ degree of expertise and what sets them apart from other instructors before registering for a course. Most online school lecturers are accomplished business luminaries or seasoned academics connected to esteemed traditional institutions.
You can check out the instructor’s profile to learn more about their experience, credentials, and reputation on the site. You can determine the instructor’s level of expertise by looking at some online schools’ essential course details, like the number of students enrolled, the instructor’s rating, and comments from current students.
Gaining valuable skills and making yourself more marketable to future employers are the two main objectives of taking a banking course. Before enrolling in the course, think about the abilities you will acquire and how they will affect your knowledge. The course contents are detailed in the course syllabus, which also lists all of the topics that will be covered.
It is simpler to concentrate on the skills that are in high demand in your sector because most courses have a narrow concentration, such as commercial lending, money and banking, portfolio management, mergers and acquisitions, etc.
After completing this course, you can build a career as:
- Assistant manager in a bank
- Personal banker for high net worth people
- Mutual fund advisor & distributor
- Wealth manager
- Merchant banker
- Depository participant & registrar for depository operations
- Investment advisor
- Teller/ cashier in a bank
- Banking sales executive