What is BFSI?
Banking, Financial Services and Insurance (also known as BFSI) is an industry name. This term is commonly used to refer to the services they offer. Banking may include core banking, retail, private, corporate, investment, cards and the like. Financial Services may include financial planning for individuals, stock-broking, payment gateways, mutual funds etc. Insurance covers both life and non-life.
Why should I consider a BFSI career?
The Indian economy is booming and BFSI is one of the hottest sectors. The number of people who are not covered by Banking, Insurance and Stock Markets is very high. Experience has shown, that as a country developed, Financial Services will grow at more than twice the rate of the GDP growth. In summary following are key reasons to consider a career in the BFSI sector – Consider following facts:Rapid growth of the sector,Booming employment opportunities across multiple roles – sales, service and back office,Global OpportunitiesEntrepreneurial opportunities.
What skill set do I need for BFSI?
- Personality Skills - Energetic, Positive Attitude, Flexible, Goal oriented, Assertive.
- Behavioral Skills – Team work, taking initiative, problem solving
- Industry specific skills – strong communication skills, customer interfacing skills
- Domain knowledge - knowledge of financial processes and products, technology orientation
- IFBI has an unmatched record in creating BFSI careers. Over 17,000 students have been placed in 6 years.
- IFBI has a national presence and great relationships with leading BFSI Institutions of the country
- IFBI is a joint venture of NIIT Ltd (A Leading Global Talent Transformation Organization) and ICICI Bank (India’s No:1 Private Sector Bank), both leaders in their fields.
At IFBI, a student acquires unbeatable value addition in Domain knowledge (Banking/Insurance/Finance), Technology orientation and customer relationship management. You get great faculty, modern facilities and an excellent learning environment to make your career dreams come true.
Who all benefit from these programs?
IFBI Programs are carefully designed to suit career needs of young graduates and post graduates willing to enter BFSI sector. There are special programs for college students as well.
Who are the teaching faculty members?
IFBI faculty are mainly experienced professionals with an average practical experience of more than 15 Years. We have faculty from all streams as they are from Public Sector, Private Sector, Co-Operatives and also Foreign Banks. We also have specialized teaching professionals – with excellent background in Soft Skills Training, Core Banking solutions, Insurance and Financial Services. As a student, you will benefit from this diversified blend and gain immense practical knowledge. You can look at a few of the profile of our faculty members at http://www.ifbi.com/about_instructor.aspx
Who is IFBI?
IFBI is India’s largest Banking, Financial Services & Insurance(BFSI) training & education institution. It is an NIIT Ltd. Venture with equity participation by ICICI Bank to cater to the manpower needs of the fast-growing BFSI sector.
When did the IFBI start?
IFBI was formed in 2006 and since then has trained over 55,000 working employees and placed over 15,000 Graduates for entry-level jobs in the Banking, Financial Services and Insurance sectors. Today, NIIT IFBI is India’s largest Banking, Financial Services & Insurance(BFSI) training & education institution and the largest supplier of skilled manpower for the BFSI industry in India.
What is the background of IFBI?
Established by NIIT in association with ICICI Bank, IFBI reflects the strengths of both these parents. NIIT, Asia’s No. 1 Trainer, is a leading global talent development corporation that has 30 years of experience and innovation in the education sector. ICICI Bank is India's second-largest bank.
NIIT's expertise in the design and conduct of distributed non-formal education and its experience of manpower-development for India's IT sector, are combined with ICICI Group's domain-knowledge across the spectrum of financial services and its leadership status within the BFSI sector.
How IFBI is different from other education institutes in BFSI sector?
IFBI offers an unbeatable combination for the student and the industry. All offerings from IFBI are application oriented, incorporate modern requirements of the BFSI Sector. Also the program contents are constantly updated and are recognized by the industry. Today, IFBI graduates are most sought after professionals by the industry. IFBI has a terrific track record in skilling graduates in a short-term and launching them on fantastic careers in the BFSI Sector.
Which all places do you have training centers?
IFBI has IFBI Campuses in 60+ locations. For the address and contact details of the centres, visit IFBI Contact Us Page.
Are Program Certificate authorized from UGC or AICTE?
No, IFBI program certificates are endorsed by Leading Organizations as partners and it shows the confidence of the Industry in IFBI and its Programs.
Are you providing any other certification as certified financial planning?
No we provide IFBI Program certificate only.
I want to do MBA afterwards. Will IFBI certificate help?
Yes it does as you have gained Industry Specific application knowledge managerial expertise would surely help in a successful career
What are the qualifying criteria for Program Certificate?
Based on the program, a minimum of 50% aggregate marks with a minimum of 85% attendance during the program is essential to qualify for program certificate.
I am a final year student-can I apply?
Final year (TY) students can surely join a select IFBI programs. But you need to have the graduation degree with minimum 50% marks to avail the placement facility (if placement facility is offered as a part of the programme).
I am doing post graduation, am I eligible for IFBI Programs.
Yes! You are eligible for the program.
I scored less than 50% in graduation however my post graduate percentage is 60%, am I eligible?
Yes! You are eligible. Specific criteria for further selection process with Partnering Organization shall apply.
What is the admission process?
Admission to all IFBI programs is comprises of ICET (IFBI Common Entrance Test) & Personal Interview. Click here, to receive Admission Kit.
Is computer Literacy a must?
No it is not. The programs have modules on IT basics and Application Softwares
Is fluency in English communication is a must?
Basic Working knowledge of English is a must
Will you consider marks of CAT or MAT test?
No. IFBI Common Entrance Test (ICET) is mandatory for IFBI admissions.
Who will take Personal Interview?
Personal Interview would be taken by the panel members of IFBI and in certain cases representatives of the Partner Organization.
If I am not able to clear test and interview will I be able to apply again?
One can apply only once in an admission session.
I am B.SC graduate can I do this course. Will I be facing difficulty in study?
Yes. B.Sc. Graduates can do this programme. There are a good number of B.Sc. Graduates who have successfully completed IFBI Program. Please contact your nearest IFBI centre for speaking to a B.Sc. Gradaute IFBI Alumni.
What is Industry Internship?
Supervised Internship post classwork semester is on the job training to gain practical expertise at the offices of the Partner Organization
Where do I get the internship?
You can be posted at any office of the Partner Organization - anywhere in India. You should be ready relocate if required, at your own cost. You are encouraged to specify your preferences. However, the internship location and the final placement are at the discretion of the partner organization.
I am a married young mother, can I get placed this city only?
We do understand the demands on a working mother. However, the location cannot be guaranteed as location allocation is dependent on vacancies available on the partner organization.
Can you give me an example of an organization where Internship is offered?
Over 7000 IFBI students have completed 3 month internship at ICICI Bank. They have earned a stipend of Rs 7000-Rs 7600 per month in the Internship period. Upon completion of Internship, almost all students have been upgraded to Officer grade at ICICI Bank.
Is it a paid internship?
Yes, it’s a paid internship. The amount of the stipend would vary from Organization to Organization
What would be my role in internship?
During this period you would be assigned tasks similar to regular employees. Responsibilities are assigned at the discretion of the Reporting Authority as per the business requirements and employee’s aptitude in the assigned domain (Banking, Insurance, and Finance)
What do I get under IFBI’s placement assistance facility?
IFBI Programs prepares student academically and provides them with the skills to excel in the chosen profession, before providing exposure to Partner Organization/s for internship and placement opportunities. We provide adequate opportunities to attend interviews until you are placed.
Who are the Partnering Organizations with IFBI?
IFBI has placement tie-ups with more than 25 leading BFSI sector organizations including - ICICI Bank, Axis Bank, Kotak Mahindra Bank, Dhanalakshmi Bank ICICI Lombard, ICICI Prudential, Lakshmi Vilas Bank, ICICI Securities, HDFC Securities, Bajaj Capital, Deutsche Bank, ING Life and many more
What is IFBI Career Development Process?
It is an initiative to help coach, mentor and groom students for better placements. Not only are students assessed and coached by IFBI special team but regular sessions are conducted for professional skills, resume preparation, interviews, industry awareness etc
What types of profiles are offered to IFBI graduates?
Depending on the hiring organization, students get hired in varied functions like Sales (customer acquisition), Front Office Operations, and Back Office Operations, High end Operations amongst many others.
What levels do we get hired at?
Mostly, at the entry level as Officer, Relationship Executive/Manager. Exceptionally bright candidates may get entry laterally at higher levels.
What kind of packages can we expect?
There are no limits for career progression. It all depends on your performance and how one contribute to the growth of the employing organization. Students passing out from IFBI are recruited at an average starting salary of Rs.2 lacs – Rs. 3 lacs . If you want faster growth, good career and better salary/earning potential, you need to appreciate the demands of the BFSI sector. Students who have good communication skills, customer service delivery skills, customer acquisition skills, customer relationship skills, compliance knowledge, domain knowledge, operational knowledge, attention to detail – will emerge more successful in BFSI
I have an experience of 3 years will you give me advantage for the same in higher salary etc?
For the initial job, there will not be any difference but it may help you for future appraisals.
Can I pay fees in installments?
Yes. Most programs have instalment facility.
If I cancel my admission, will I be eligible for refund of program fees?
Refunds are subject to receipt of written request from student, if received 48 hours prior to the scheduled start date of the program/course. Conditions apply.
Whom can I contact for further details?
Whom can I contact if I want to share a feedback?