All India Council for Technical Education (AICTE) and National Skill Development Corporation (NSDC) have partnered with Bajaj Finserv Ltd to prepare young graduates for employment opportunities in the financial services sector.

Two MoUs were exchanged on Tuesday between NSDC, under the aegis of Skills Ministry, and Bajaj Finserv and AICTE, in the presence of Dharmendra Pradhan, Union Minister for Education, Skill Development and Entrepreneurship in the capital.

The partnerships will enable Bajaj Finserv to scale up skilling of young graduates for employment in financial services through its flagship employability programme — Certificate Program in Banking, Finance & Insurance (CPBFI).

The skilling of youth under this partnership is set to commence in 10 districts of Odisha with students receiving joint certification accredited by Bajaj Finserv and Skill India.

Speaking on the occasion, Pradhan said that the partnerships forged today will build competencies at scale in the financial sector and empower the youth to participate in the transformation happening in the financial and digital space. 

“Our youth will play a key role in making of a Viksit Bharat driven by knowledge, competencies, skills and the right attitude,” Pradhan said.

TG Sitharam, Chairman, AICTE, said that the signing of MoU with Bajaj Finserv will further usher in new collaborations in the education sector and will strengthen AICTE ‘s vision to bridge a gap between the industry and academia. 

This partnership will roll out immense opportunities of education, internships and job trainings for students in finance, banking and insurance sector, Sitharam added.

Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv, said, “At Bajaj Finserv, we have identified youth skilling as a significant pillar of our social impact programmes. Our partnership with NSDC and the Ministry of Education will help us make a difference to young people by providing them with greater access to skilling which opens infinite possibilities of success. It will also build economic resilience and an inclusive workforce for the future, in line with the theme of Kaushal Bharat, Kushal Bharat.”

CPBFI, a 100-hour programme developed in collaboration with industry experts, training partners, educational institutions and psychological health institutes, currently runs across 350+ colleges in 23 States, 100 districts and 160+ towns. 

To date, CPBFI has trained and benefited over 40,000 students from tier 2 and tier 3 towns since inception.  

Bajaj said that India is entering an interesting phase of growth, matched by its promising demographics. However, the country faces a shortage of skilled workers, and the private sector has the opportunity to be one of the first responders to the situation, he added.

CPBFI is aimed at nurturing skills, knowledge and attitude among graduates and MBA aspirants especially in tier 2 and 3 cities, enabling them to seek employability and take the right decisions related to their long-term careers in the financial services sector. 

In addition to imparting domain knowledge, the program also enhances confidence through cognitively designed communication and workplace skills.

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