Manipal Global Education Services and Federal Bank today announced the launch of Federal Manipal School of Banking at the Manipal University Bangalore Campus located in Bangalore.
The Federal Manipal School of Banking is a fully residential campus offering a one-year (nine months of intensive campus training and three month internship at a branch of Federal Bank) full time programme on various areas of Banking and Management disciplines which is coupled with intensive grooming and soft skills training, a statement said.
On successful completion, students will be awarded a Post Graduate Diploma in Banking & Finance by Manipal University and will be absorbed as Probationary Officers by the Federal bank. This is an industry-academia partnership to mould officers of calibre in the banking field with First Day First Hour productivity.
This is an "earn while you learn” programme where students earn a monthly stipend of Rs 2,500 per month for the first 9 months and Rs 10, 000 per month during their three month internship with the bank. Federal Bank will support full fee financing through education loans and loyalty bonuses.
Commenting on the launch, Abraham Chacko, Executive Director, Federal Bank said “This programme is aimed at providing the officers with that extra mile of knowledge and skills which will in turn aid to their excellence in banking & services.”
Demand for trained manpower in banks is steadily increasing since 1991. The problem has intensified due to retiring bankers, attrition and prohibitive training costs, creating a critical challenge to banks in the face of rapid expansion needs and global competition. A recent IBA-BCG survey of Indian banks reveals a whopping 71 per cent of Indian PSU banks, which consider “Talent Attraction and Retention” as one of their biggest challenges.
