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- Banking in India in the modern sense originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The oldest bank still in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955.
- Insurance is a subject listed in the Union list in the Seventh Schedule to the Constitution of India where only centre can legislate. The insurance sector has gone through a number of phases by allowing private companies to solicit insurance and also allowing foreign direct investment of up to 49%, the insurance sector has been a booming market. However, the largest life-insurance company in India is still owned by the government.
- The Bachelor of Applied Business - Financial Services Management addresses the need for degree-level graduates with specialized skills for the banking and insurance sectors. Created with input from these areas, it will focus on all aspects of financial services including consumer protection and privacy, customer relationship management, investment strategies, e-business and insurance law.
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- Shri Ram College of Commerce, New Delhi
- Indian Institute of Technology (IIT-BHU) Varanasi
- National Institute of Technology, Tiruchirappalli
- Indian Institute of Foreign Trade, New Delhi
- International Management Institute, New Delhi
- Sree Chitra Thirunal College of Engineering, Kerala
- ITM Institute of Financial Markets, Maharastra
- Aligarh Muslim University - Faculty of Management Studies & Research,UP
- Himalayan Institute of Technology and Management,UP
- School of Management Sciences, Varanasi,UP
- In public sector banks can get a salary ranging from Rs.12,000 to Rs.15,000 per month while the salary for officers start within a range of Rs.15,000 to Rs.20,000 per month.
- For professionals like CAs, ICWA, CFAs and MBA employed in public sector banks can expect a higher salary between Rs.25,000 to Rs.30,000 per month.
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If candidates have good communication skills and have the ability to handle customers and basic knowledge about the industry.
To join an overseas or private sector banks for senior level positions one needs specialization in certain specific areas like credit appraisal skills, managing huge loan files and foreign exchange.
Job opportunities for graduates and post-graduates in banking are excellent in India. After completition of this course in banking, you will immediately be offered a position.
Besides, positions in insurance, personal loans, mortgages, collections and back office operations are always vacant and offer all bright to average students to avail the opportunities presented.
Banks such as ICICI, HSBC, Kotak Mahindra, HDFC, Standard Chartered, Barclay’s, and American Express are some of the companies that hire banking students at all levels depending on the colleges they are recruiting from.
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- For admission into a bachelor’s degree, the candidate must have passed 10+2 examination with commerce subjects such as accounts, maths and economics.
- For admission into a master’s degree a must have a bachelor's degree with commerce subjects such as accounts, maths and economics. The duration for this program is of 2 years.
