B.Com in Banking & Insurance
After completing the 12th grade in the commerce stream, you will have numerous academic and career options including banking and insurance course. Crores of Indian students aspire to work in banking and insurance. As a fast-growing sector with an ever-increasing requirement for staff, banking and insurance attracts students from various professional specializations, especially commerce. Read this blog completely to know in detail how to pursue a banking course after the 12th.
The industry of banking and Insurance is one of the most important parts of the Indian economy. Many people want to work in banking and insurance sector, but due to a lack of proper guidance, they are unable to work in the right direction. Banking school is the best way to get a job in banking and insurance sector. Banking and Insurance course will provide you with an in-depth knowledge of banking, finance, banking management, taxation, home loans, insurance and risk management. Let us tell you that in the banking and insurance course, the student can additionally understand the functions of the Federal Reserve too. So today we are going to tell you about the Bcom in Banking and insurance Course 2023.
|Degree Name||Banking and Insurance|
|Course Type||Degree and Diploma Course|
|Eligibility||10+2 or equivalent course with a minimum 50% marks and bachelor degree for postgraduate diploma|
|Duration||3 years (Bachelor Degree) and 1 year (Diploma)|
|Admission Procedure||Based on Common Entrance Test (CUET, DU JAT, BHU PET) or Based on Merit|
Degree Courses – INR 2 lacs to INR 10 lacs|
Diploma Courses – INR 45,000 to INR 1.5 lacs
|Course Average Salary||INR 4.2 lacs PA to 18 lacs PA|
|Recruiting Companies||Credit Suisse, Morgan Stanley, J.P. Morgan Private Bank, Citigroup, UBS, SBI, City Union Bank, ICICI Bank, Union Bank of India, Punjab National Bank, UCO Bank, IDBI Bank, HDFC Bank|
|Job Position||Bank PO, Branch Manager, Investment Banker, Financial Advisor, Insurance Agent, Financial Analyst & Many More…|
Banking and Insurance Course Required Skills
To become a good banker, one must have the following skills.
- Organization and time management
- Attention to details
- Commercial Awareness
- Problem solving skills
- Numeracy Skills
- Technical skills
- Financial reporting
- Data management
- Business intelligence
- Financial modeling
- Communication skills
Banking and Insurance course after 12th - Degree Course
Since banking and insurance are related to specialized fields of work, most of the banking and insurance courses offered in Indian colleges and abroad are postgraduate degree courses. Following the 12th grade, students who want to pursue a bachelor’s degree in banking and insurance have several options:
- B.Com in banking and Insurance
- BA in Banking and Finance
- BA in International Banking and Finance
- BBA Hons. In Finance and Banking
- B.Com in Accounting and Insurance
- Bachelor’s in Banking Management
- MBA in Banking & Taxation
- Bachelor’s in Bank Management
- Ph.D. in Banking & Finance
- Master in Banking/Finance/Insurance/Accountancy
These are specialized undergraduate degree courses of 3 years’ duration that provide students with the opportunity to choose specialized master’s degrees in the field of banking and insurance. Apart from this, students graduating in banking and insurance course after 12th grade are provided with the necessary skills to prepare for various banking exams like IBPS, SBI, and RBI exams, etc.
Banking and Insurance Course after 12th - Diploma Course
The aim of the diploma course is to provide practical, skill-based knowledge to the students. Diploma programmes in banking and insurance course are generally designed for both 12th-grade students as well as graduates. Diplomas for undergraduate students range from one to two years, depending on the institute offering the course. Here are some undergraduate diploma courses you can pursue after completing 12th grade to specialize in banking.
- Diploma in Actuarial Science
- Diploma in Banking and Finance
- Diploma in Banking and Insurance
- Diploma in Banking Laws
- Diploma in Home Loan Advising
- Advanced Diploma Course in Banking Services
- Diploma in Banking and Finance
- Diploma in Banking and Insurance Management
- Advanced Diploma Urban Co-operative Banking
- Diploma in Banking Management
- Diploma in Banking Services
- Post Graduate Diploma in Bank Management
- Post Graduate Diploma in Banking
- Post Graduate Diploma in (Banking & Financial Management)
Short Term Banking Course
You can see the list of short-term banking courses below
- Certificate Diploma in Banking
- Certificate Diploma in Banking and Finance
- Advanced Certificate in Banking Laws &Loan Management
- Certificate in Rural Banking
- PG Diploma in Global Banking and Economics
- PGD in Management in Banking, Insurance & Financial Service
International Banking Course
Below is the list of International Banking Courses:
- Certified Public Accountant (CPA) Course
- Chartered Financial Analyst (CFA) Course
- Chartered Mutual Fund Counselor (CMFC) Course
- Financial Risk Management (FRM) Course
- Certified Financial Planner (CFP) Course
- Chartered Alternative Investment Analyst (CAIA) Course
- Certified Management Accountant (CMA) Course
- Business Accounting and Taxation (BAT) Course
Online Banking Course
The list of online banking courses is given below:
- Economics of Money and Banking
- Financial Markets
- Digital Transformation in Financial Services
- Financial Markets and Investment Strategy
- Udemy Banking Credit
- Relationship Management in Corporate Banking
- Digital Banking Accounting, Finance & Banking – A Comprehensive Study
- Foundation of Central Bank Law
- Essential Career Skills for Investment Banking & Finance
- Risk Management and Financial Markets
- Capital Markets
- Alison Introduction to Managing Personal Finance Debts- Revised
- Financial Freedom : A Beginner’s Guide
Banking courses offered by the bank
Many leading banks in India, such as SBI, Axis Bank, Yes Bank, and ICICI Bank, offer certificate banking courses to individuals who are interested to work in banking and insurance sector. Here are some banking courses you can enroll after graduating from high school.
- (CPGI) – Certificate Program in General Insurance, SBI
- (PGDRB) – Post Graduate Diploma in Retail Banking, Axis Bank
- (PGPBB) – Post Graduate Program in Branch Banking Services, Yes Bank
- Trade Finance Program by HDFC Bank
- Probationary Officers Program Post Graduate Diploma in Banking (PGDB) by ICICI Bank
Banking and Insurance Course Syllabus
There are many banking and insurance courses available in India, which include bachelor’s, diploma, online, certificate, and masters-level courses. Some of the popular subjects taught in banking and insurance courses are as follows:
- Banking and Insurance Law
- Financial Market in india
- Financial Services Marketing
- Business Policy and Strategic Management
- Commercial Bank Management
- Foreign Currency
- Principles of Finance
- Direct and Indirect Taxes
- International Banking and Finance
- Economics of Global Trade and Finance
- Insurance policies and services
World's Top Universities for Banking Courses
There are many management institutes and colleges abroad that offer undergraduate courses in banking and finance, mainly BBA, BBM and B.Com. Given below, is the list of top universities and colleges abroad for pursuing banking and insurance courses after 12th is given below –
- Continental College of Applied Arts and Technology, Canada
- Monash University, Australia
- London Business School, UK
- Carleton University, Canada
- University of Adelaide, Australia
- Kent State University, USA
- Cardiff University, UK
- Singapore Institute of Management, Singapore
- University of Reading, UK
- Griffith University, Australia
- University of Birmingham, UK
- University of Nottingham, UK
Top Universities in India for Banking and Insurance Course
The top universities and colleges in India where you can pursue banking and insurance courses after completing your 12th grade.
- Narsee Monjee Institute of Management Studies (Mumbai)
- Bharati Vidyapeeth Institute of Management, Entrepreneurship Development (Pune)
- University of Petroleum and Energy Studies (Dehradun)
- NIMS University (Jaipur)
- Chandigarh University (Chandigarh)
- Chitkara Business School (Patiala)
- AIIMS Institute (Bangalore)
- Sharda University School of Business Studies
- Amity University (Gurgaon, Mumbai)
Eligibility and Qualification for Pursuing Banking & Insurance Course Abroad
The following are some of the general eligibility requirements for pursuing a banking and insurance course abroad after 12th grade:
- Candidates must completed their 10+2 with 60% and above marks in commerce stream from a recognized board.
- The university gives admission on the basis of a merit list.
- Most universities abroad require SAT scores for bachelor’s degrees and GRE scores for master’s degrees.
- IELTS or TOEFL test scores are required as proof of English proficiency for admission to foreign universities.
- SOP, LOR, CV/Resume, and Portfolio also need to be submitted for studying at foreign universities.
Banking & Insurance Course Application Process for Foreign Universities
- The application process for admission to foreign universities is as follows:
- The first step of your application process is to choose the right course, for which you can shortlist your preferred courses with the help of AI Course Finder.
- After getting in touch with the experts, they will initiate your application process across multiple universities through a common dashboard platform.
- Now you have to collect and organize all your documents, like your SOP, essay certificates, LOR, and required test scores like IELTS, TOEFL, SAT, ACT, etc.
- If you have not yet prepared for your IELTS, TOEFL, PTE, GMAT, GRE, etc. exams, which are definitely important factors in studying abroad, you can join Leverage Live classes. These classes can be very beneficial in helping you score well in test.
- After submitting your application and all documents, the experts will start the application process for accommodations, a student visa, and a scholarship or a student loan.
- Now you have to wait for the offer letter, which may take about 6 weeks or more. Now, after receiving your offer letter and paying the required semester fees, you can starts your education journey abroad.
In Indian universities, the application process is as follows:
- First of all, register by visiting the official website of the selected university.
- Now, after registering on the university website, you will get the username and password.
- Then, after logging in, choose the course you want to take.
- Now fill out the application form with your educational qualifications, category, etc.
- After that, submit the application form and pay the required application fee.
- If the admission is based on the entrance test, first register for the test and then wait for the counselling after the result. You will be selected on the basis of your entrance exam marks, and a list will be issued.
Documents Required for Pursuing Banking & Insurance Course in Abroad
Below is a list of some of the required documents:
- Official Academic Transcripts
- Passport Scanned Copies
- IELTS or TOEFL test scores are required.
- Professional/Academic LORs
- Essay (if required)
- Portfolio (if required)
- Updated CV or Resume
- A passport and student visa
- Bank Statement
Scope in Banking Sector
After completing the banking and insurance course after 12th grade, you can explore many possibilities in the financial and banking industries. Below is a list of some popular job profiles:
- Financial Accountant
- Financial Analyst
- Portfolio/Fund Manager
- Budget Analyst
- Loan Officer
- Commercial Banker
- Bank Manager
- Branch Manager
- Mortgage Banker
Top MNC's Recruiters of Banking Sector
- Credit Suisse
- Morgan Stanley
- Bank of America Global Wealth and Investment Management
- J.P. Morgan Private Bank
- Deutsche Bank
- Goldman Sachs
- Citi Private Bank
Top Recruiters of Indian Banking Sector
- Bank of India
- South Indian Bank
- Bank of Maharashtra
- City Union Bank
- ICICI Bank
- Union Bank of India
- Punjab National Bank
- Indian Bank
- Central Bank of India
- Vijaya Bank
- Indian Overseas Bank
- UCO Bank
- IDBI Bank
- HDFC bank
- Punjab and Sind Bank
Banking Entrance Exam for PSUs
Below is a list of banking entrance exams:
- SBI PO
- SBI SO
- SBI Clerk
- IBPS PO (CWE PO/MT)
- IBPS SO (CWE SO)
- IBPS Clerk (CWE Clerical)
- IBPS RRB (CWE RRB)
- RBI Officer, Grade B
- RBI Officer, Grade C
- RBI Office Assistant
Career Growth and Salary Structure in Banking Sector
Banking and Finance in India is one such career option that offers high salary packages and job security. A career in banking sector is full of benefits, as it is financially beneficial and offers other benefits like insurance, rent allowance, and personal loans along with a salary. With fixed working hours and bountiful public holidays, banking is full of opportunities for high-level managerial positions after gaining professional experience. Given below are some job profiles in banking sector with their annual salary packages:
INR 2.9 lakh per year and above
Probationary Officer (PO)
INR 7 lakh per year and above
INR 7 lakh per year and above
INR 7 lakh per year and above
INR 9 lakh per year and above
INR 6.63 Lakh per annum and above
INR 4 lakh per year and above
INR 2.5 lakh per year and above
Frequently Asked Questions
What is BCom in Banking & Insurance?
BCom in Banking & Insurance is an undergraduate program that focuses on the study of banking and insurance operations, principles and practices. It covers a wide range of topics such as financial management, risk management, banking and insurance regulations, and more.
What are the subjects taught in BCom in Banking & Insurance?
The curriculum for BCom in Banking & Insurance typically includes subjects such as principles of banking, insurance principles and practices, financial management, banking and insurance regulations, financial markets and institutions, risk management, and more.
What are the career options after completing BCom in Banking & Insurance?
There are many career options available after completing BCom in Banking & Insurance, some of them are:
Banking: roles such as bank teller, customer service representative, loan officer, and more.
Insurance: roles such as insurance agent, underwriter, claim adjuster, and more.
Finance: roles such as financial analyst, financial advisor, and more.
Government jobs: roles such as clerk, probationary officer in public sector banks.