The Aptech and Geojit association will look at training 10,000 students in the first five years for 40 cities and towns.
Aptech Banking and Finance Academy and Geojit BNP Paribas have signed an MOU to train over 10,000 banking and finance professionals through a first of its kind industry-institute collaboration programme.
Commenting on the alliance, Anuj Kacker, Executive Director, Aptech Ltd, said, “We have taken up this mission to fill in the skill deficit in the BFSI sector by forging an alliance with Geojit BNP Paribas - one of the leading retail financial services companies.
Together, we aim to bridge the skill and employment gap that exists in the country and contribute to the future of aspiring banking and finance professionals.”
Geojit BNP Paribas will leverage on its 30 years of experience in the capital markets and as an industry leader to impart young professionals with real world knowledge of client handing, operations, regulations and financial technologies.
The company will be able to offer them unique insights about key capital markets trends, the emerging investor trends and the future of the financial markets in India.
Satish Menon, Executive Director, Geojit BNP Paribas said, ''With India’s BFSI manpower requirement expected to surge to 8.4 million by 2022, skill development of the new-age finance professionals by attunement to diverse risk management capabilities and adaptation to complex fin-tech remains a key challenge.
We are happy that our accumulated knowledge and experience could someway help to address this challenge and increase employability of professionals through this collaborative effort.”
Under this alliance, selected centers of Aptech Banking and Finance Academy in four metro cities of the country —Delhi, Mumbai, Kolkata, Bangalore— will impart two intensive professional courses developed with the aim of filling the predicted skill deficit in the BFSI sector.
The first, Aptech Certified Finance Professional course, is designed to create job ready professionals for the financial market. It is structured to train students in the latest computer application skills and acquire specialization in securities and wealth management.
During the ten-month course, students will learn about mutual funds, equity dealing and risk management and the latest skills to succeed in the investment and finance industry.
The second course, Aptech Certified Equity Dealer, has been designed to help students learn all about the equity market. The eight-month course will provide the most relevant and updated knowledge on equity, commodities and currency markets in India.
Students will learn all about trading systems, interpreting reports, derivatives and clearing among other things. It also provides exposure to practical applications and serves as an ideal preparation for a future career.
In both the courses students would undergo mandatory soft skills training and a 30-hour industry project that would help them gain industry work experience and make them job-ready.
These courses would also prepare students for examinations conducted by the National Institute of Securities Market (NISM) which is a public trust of the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India.
“BFSI is one of the fastest growing sectors in India. While the Indian banking industry is expected to become the fifth largest banking and financial sector globally by 2020, the biggest impediment in its growth has been lack of skilled human assets.
With liberal RBI policies, increased government focus, innovation in technology and a growing demand from consumers, specialized or differentiated banking segments have arisen.
Increase in numbers of specialized banking and liberalized bank opening policy will lead to increase in demand for banking professionals,” Kacker added.
Aptech has been associated with superior standards in career education and training for over 30 years. The alliance with Geojit BNP Paribas bears testimony to its high level of commitment towards nurturing the skills of aspiring banking and finance professionals in India.