Stanchart to train grads in corporate banking

To meet the rising demand of professionals in corporate banking, Standard Chartered bank and S P Jain Institute of Management Studies and Research (SPJIMR), through Bhavan's Centre for Inter Disciplinary Studies (BCIDS), have signed a memorandum of understanding (MoU) to introduce a special training programme on corporate banking for graduates.

The bank plans to double its workforce by 1,000 employees at various levels in the next three years, and at the junior management level, it plans to pick up graduates from 31 different colleges across seven cities and train them at BCIDS for around five months.

The students will be placed with the bank at an average salary of Rs 4.5 lakh per annum.

The programme will start in May 2008 with a batch size of 40 students and recruitment at most graduate colleges across the country will begin mid December 2007. Students with their bachelors in commerce and science can apply for the same.

Besides paying the students a stipend during the training phase, Standard Chartered Bank will also bear the fees for the training programme and residential costs all accounting to Rs 1.5 lakh per student.

Said, Madhavi Lall, head "� HR, India, Standard Chartered Bank, "While the MBA segment is being tapped effectively, there are other segments which can be an attractive source of talent if tapped with some innovative thought process. Corporate Banking, along with other areas has been growing at a very fast pace in India, hence, there is an urgent need to expand the talent pool and look at creative and more productive ways of recruitment."

Sunil Rai, chairman, BCIDS said, "The programme has been developed in guidance with senior professionals from Standard Chartered Bank. Through this novel programme, students, not only get an induction into Standard Chartered, but shall also be eligible for SPJIMR's higher level management programmes after they serve a mandatory period in the bank."

Some of the topics the programme include general management, core banking, managerial economics, financial accounting, banking regulations, global markets, cash management and marketing management.

The admission process includes online testing, group discussion and personal interview.