The Bombay Stock Exchange Training Institute (BSETIL) is gearing up to do what it couldn’t in the past 21 years. Ambarish Datta, Managing Director and Chief Executive Officer, BSETIL, tells Kalpana Pathak>/I> that after the institute de-linked itself from BSE, the pace of work has improved. Edited excerpts:
You have launched 25 courses in five months. Isn’t it too fast?
Yes, it is. But we realised that there was a need to do so. We have been able to pull it off as well. Our institute primarily runs training programmes for investors, students and industry professionals to create financial inclusion. Our catalogue of courses is fairly large with 70 calendar-based programmes. We train around 20,000 students and conduct 70,000 certifications, too.
We also run international programmes and work with stock exchanges across destinations to train students. The programmes are launched based on their target audience. The students have received it very well.
Given BSETIL’s experience, shouldn’t it have become a leading player by now?
Correct. But you don’t realise where it comes from. This was set up when technology was only basic. When people did not even know about financial literacy. Those were different days and we have a lot to catch up with. In terms of being an established training institute, this is the right time.
Last year, S Ramadorai, non-executive vice-chairman of TCS and our current chairman suggested we spin the education arm into a different unit . We did so. We are on the growth curve and have a generation of people who are open to learning.
So what is your plan?
We realised a generic MBA does not provide the knowledge that one requires to work in financial markets. So, we launched a full-time MBA in financial markets with the Indira Gandhi National Open University (IGNOU). We also launched a programme in capital markets with the Indian Institute of Management, Indore. We are planning to launch a distance education post-graduate programme in financial management. We will be setting up our own centres in various cities. We are also planning to launch a global programme in financial markets. Details are being finalised. Our strength is our own certified faculty pool of 150 faculty members who are also experienced professionals.
Your programme fee is either too high or too low...
Its not a cost-based but value-based model. We have programmes where fee is terribly low at Rs 1,700. Programmes with IGNOU and IIM Indore are priced at a higher level as the brand value is different. Ours is the only programme under the IGNOU banner which is full time and allows us to do the programme in 20 different languages. Our tie-up with IGNOU allows us to train as many people as possible.