B.Com. in Banking and Insurance is a 3-year full time undergraduate course which is divided into 6 semesters.
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The course has been designed to create trained professionals who can:
- handle various financial activities associated with banking and insurance sectors.
- operate efficiently in the Banking and Insurance environment in the financial service sector.
- handle various technologies employed in the field of Banking and Insurance.
The course offers to eligible candidates:
- theoretical and application-based knowledge in the banking and financial sector.
- management and analytic skills to work with various financial tools, such as:
- regulatory agencies
- global markets.
- lessons in:
- lending finance
- bank management
- commercial, public and private banking
- customer service skills
For professionals working with loans, the Loan Review Certificate program offered by the Bank Administration Institute can be pursued.
Financial bankers who meet the required experience and education can take the exam needed to earn the Certified Mortgage Banker credential issued by the Mortgage Bankers Association.
Students seeking a career in the banking industry can complete a Bachelor's degree program in business administration.
The average annual course fee in India ranges between INR 14,000 to 10 lakhs, depending upon the institute offering the course.
The average salary offered in India to successful graduates of the course ranges between INR 2 to 20 lakhs, depending upon the candidate’s expertise in the field.
B.Com. in Banking and Insurance: Course Highlights
Shown below are some of the major highlights of the course.
|Course Level||Under Graduate|
|Examination Type||Semester System|
|Eligibility||10+2 with Commerce subjects, with a minimum aggregate score of 50%.|
|Admission Process||Based on counselling after qualification of entrance test|
|Top recruiting organizations||TCS, Sutherland, HCL, DELL, CTS, CITY Bank, etc.|
|Top recruiting areas||Banks, investments, insurance industry, savings and loan associations, and such.|
|Top job profiles||Accountant, Financial Advisor, Marketing Agent, Sales Representative, among others.|
|Course Fee||INR 14,000 to 10 lakhs|
|Average Starting Salary||INR 2 to 20 lakhs|
B.Com. in Banking and Insurance: What is it About?
The course offers to enrolled candidates:
knowledge of different aspects of Banking and Insurance.
- thorough understanding of the practical application of the theory.
- advanced lessons in:
- Business Communication
- Business Economics Paper
- Environmental Studies
- Accountancy & Financial Management
- Mathematical & Statistical Techniques.
The discipline is about concepts such as:
- risk-coverage or protection against various hazards of life.
- financial contracts that bind two people to certain responsibilities which is known as Policy.
- policy-holder and insurer relationship.
B.Com. in Banking and Insurance: Who should opt?
Ideal candidates for the course would possess:
- good communication skills.
- ability to handle customers.
- basic knowledge about the industry.
- specialization in certain areas like credit appraisal skills.
- skills to manage huge loan files and foreign exchange.
Top Institutes offering B.Com. in Banking and Insurance
Some of the institutes or colleges offering the course in the country with the corresponding locations and fees charged by the respective colleges are listed below.
|NAME OF INSTITUTE||CITY||AVERAGE ANNUAL FEES|
|Sir Padampat Singhania University||Udaipur||INR 6,73,000|
|Quantum University||Roorkee||INR 69,000|
|Chandigarh University||Chandigarh||INR 1,95,000|
|Manav Rachna International University||Faridabad||INR 4,08,000|
|University of Technology and Management||Shillong||INR 2,37,000|
|Sandip University||Nasik||INR 3,00,000|
|GD Goenka University||Gurgaon||INR 8,40,000|
|CT University||Ludhiana||INR 40,000|
|Apeejay Stya University||Gurgaon||INR 2,50,000|
|International College of Financial Planning||Delhi||INR 68,000|
|Jain University||Bangalore||INR 1,40,000|
|International Institute of Business Studies||Bangalore||INR 49,000|
|Manipal University||Manipal||INR 3,62,000|
|Integral University||Lucknow||INR 2,70,000|
|Centurion University of Technology and Management||Bhubaneswar||INR 2,75,000|
|Sun Rise University||Alwar||INR 73,500|
|ITM University||Gwalior||INR 2,10,000|
|Lovely Professional University||Delhi||INR 3,98,000|
|Indian School of Business Management and Administration||Ahmedabad||INR 14,900|
|RNB Global University||Bikaner||INR 1,80,000|
|Thadomal Shahani Center of Management||Mumbai||INR 45,000|
Eligibility for B.Com. in Banking and Insurance
Listed below are the minimum criteria of eligibility that interested candidates need to fulfil in order to apply for the course.
- 10+2 education completed in the Science stream from a recognized educational Board.
- Preferably, Commerce subject as the main subjects of study at the 10+2 level.
- A minimum aggregate score of 50% (45% for SC/ST/OBC candidates) at the 10+2 level.
B.Com. in Banking and Insurance: Admission Process
Most institutes offering the course admit students based on performance in a relevant entrance test. Admission process generally varies across colleges.
A few institutes also provide direct admission based on the candidate’s performance at the 10+2 level.
Candidates are assessed based on the following parameters:
- General Awareness
- English Communication
- Logical Reasoning & Critical Thinking
- Quantitative Aptitude.
B.Com. in Banking and Insurance: Syllabus and Course Description
A semester - wise syllabus of the course is tabulated below.
|SEMESTER I||SEMESTER II|
|Tamil I /Hindi I||Tamil II / Hindi II|
|English I||English II|
|Financial Accounting I||Financial Accounting II|
|Principles and practice of Banking I||Insurance law and Practice|
|Business management||Principles and Practices of Banking II|
|Principles of Insurance
|Value Education||Environmental Studies|
|SEMESTER III||SEMESTER IV|
|Company Accounts I||Company Accounts II|
|Business Economics||Services Marketing|
|Legal Regulatory Aspects of Banking I||Legal Regulatory Aspects of Banking II|
|Financial management||E-Commerce & E-Business|
|Workshop on Numerical skills||Workshop on Reasoning Skills|
|Campus Recruitment Training I||Campus Recruitment Training II|
|Non-Major Elective||Non-Major Elective|
|SEMESTER V||SEMESTER VI|
|Income Tax||Management Accounting|
|Financial Statistics||Business Communication|
|Campus Recruitment Training III||-|
B.Com. in Banking and Insurance: Career Prospects
Some of the top professional profiles open to such graduates are listed below with the corresponding salaries offered for the respective positions.
|JOB POSITION||JOB DESCRIPTION||AVERAGE ANNUAL SALARY IN INR|
Accountants also perform administrative duties such as maintaining schedules, filing, providing telephone support, transcription and the production of forms. Accountant may have additional responsibilities if employed by an accounting firm.
They prepare tax returns and financial statements, and accounting firms represent clients on matters pertaining to their financial affairs. It is the staff Accountant’s responsibility to meet with clients to discuss their financial matters, equipment, real property, and tax liability.
Cashiers help customers select the right product, much like retail sales workers. They greet customers as they enter the store, answer questions about products. They assist in locating desired items and encourage the customer to buy the merchandise.
They may also set up store displays and perform cashier duties. Formal education is usually not required to work in this field, but companies that sell more technical items may prefer a candidate with a high school diploma. The training is generally offered by the employer.
Actuaries that work in the insurance industry generally specialize in either life and health insurance or property and casualty insurance. Integral role that an Actuary performs in insurance companies stems from their risk assessment research.
Research helps them forecast how likely it is for certain risk events to occur and how these events will impact their company with potential loss. An Insurance Actuary with a property and casualty specialization might calculate how many claims the company can expect to have as a result of car accidents.
They must also weigh an insured person's vehicle age, type, sex and driving history to devise a premium that is competitive with other insurance companies.
A Loan Counsellor works for a financial institution, processes a client's application materials, verifies the information and works with the client to come up with a financial plan. They explain the types and rate terms of loans available, and generate the legal paperwork necessary to complete the loan process.
They also answer questions about existing loans and assist struggling clients by rescheduling payments or restructuring loans to help them remain solvent.
A Financial Advisor may also be called a Financial Planner. There may be no official requirements for financial advisors; employers prefer those who have a college education. Colleges and universities offer undergraduate and graduate degree programs in financial advising.
Some degrees in business, accounting or finance are also recommended for those entering this field. Coursework in financial advising programs often includes retirement planning, investing tactics, and insurance.
Graduates need to take advanced math courses, and classes in economics and interpersonal relations. Graduate programs offer internships at banks and other financial firms where students can gain valuable real-life experience needed for the position.