The Hindu Business Line : Manipal Group, IIBF tie up for courses

Bangalore April 21 With BASEL-II implementation around 2009, and globalisation changing the way banking has been done, there is a greater need for sophistication in the banking industry, and specialised courses catering to this changing scenario are significant, said Mr M.B.N. Rao, Chairman and Managing Director, Canara Bank, here. He said this at a function to mark the signing of memorandum of understanding (MoU) between Manipal Education Group and the Indian Institute of Banking and Finance (IIBF) for offering vocational courses in banking.

Concepts

"Concepts such as risk management, treasury management, human resource management and asset and liability management need sophisticated skills. Today's bankers need to know marketing too," Mr Rao said. "Banking is not an art anymore, but a well-defined skill that needs specialised education."

This collaboration will result in a new Diploma in Banking and Finance to be awarded by IIBF.

While the IIBF will design the course content, the Manipal Education Group will provide the infrastructure for online and offline testing through its existing network. The first tests for this course, which will be launched in May, will be conducted in November or December, said Mr R. Bhaskaran, CEO, IIBF. The course would cost around Rs 5,000, he added.

Mr Anand Sudarshan, Group President, Manipal Group, said the economic growth has brought with it challenges, especially relating to manpower. "The need of the hour is to create academic programmes that combine knowledge, skills and the orientation required by many banks," he said.

Many private and foreign banks would commence operations by 2009 in India, said Mr Rao, thus creating employment opportunities. The banking profession has a lot of potential for employment for correspondents, and in call centres, BPOs, financial advisory services etc.

Speaking at the sidelines of the event, he said that the Micro-Finance Institution Law would be enacted soon. "It's in the final stages of approval. Hopefully the law would be enacted by the year-end."

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