With promising economic growth and an increase in India’s GDP, the banking sector in India is growing at a healthy rate. Rising incomes are expected to increase the need for banking services, especially in rural areas, and drive the growth of the sector. The introduction of 8 insurance schemes including the Jan Dhan Yojana by Prime Minister Narendra Modi, under which every Indian family will be enrolled in a bank, has also acted as a catalyst. Experts believe that the banking sector will create up to 2 million new jobs in the next 5-10 years.
Looking at the positive growth in the domestic banking sector, BMU recently introduced a course on Banking. This follows in the wake of a Memorandum of Understanding that was signed by Axis Bank and BMU. Axis Bank is the third largest private sector bank in India. This course will enable BMU’s management students to learn about the various key areas of banking and transform them into ‘ready to work’ managers.
Talking about the alliance and the course, Mr. Akshay Munjal, BML Munjal University said, “BML Munjal University aims to create a talented community of students and faculty who excel in teaching, learning and research in a creative and stimulating environment. To this end, we are leveraging an ecosystem around a large and diverse set of industries and corporate organizations. BMU has inked this MoU with Axis Bank with a vision to provide invaluable learning about the banking sector backed by an impeccable educational infrastructure and able faculty members.”
The course will be offered to MBA students as an elective in the 1st year with over 40 hours of learning. The objective is to create awareness among students about the banking sector in India, and the products and services offered by banks. Axis Bank will aid in developing the course curriculum, course design, structure and courseware along with BMU.
Throughout the duration of the course, students will learn about areas such as sales, negotiation and persuasive communication; relationship marketing strategies and methods; retail banking; bank assurance; banking operations; basic data analytics; and CRM solutions, including first hand training in Finacle and other core banking solutions used by Axis Bank. This will benefit students in terms of increasing their employability quotient and providing them a chance to work with Axis Bank upon graduation. In fact, Axis Bank has already carried out the placement process and offered managerial positions to 3 BMU students.
BMU believes in creating the right milieu for a sustainable industry-academia partnership by offering specialization courses such as Forensic Accounting in association with KPMG and Business Analytics in collaboration with IBM to its students. This new course in association with Axis Bank will support students in enhancing their skill set to work efficiently in a thriving Indian banking sector.