Master of Commerce in Banking is a two year postgraduate course, designed for aspirants to study about various activities of a bank and how to manage a bank so that it runs smoothly. Students learn about various concepts of banking and financial management skills, which are required to function effectively within private businesses, non-profit organizations, and public agencies.
The whole program is sub-divided into four semesters, of six months each, which can be pursued via regular mode or correspondence mode. In order to be eligible for the course, students are required to have a graduation degree in a commerce stream, from a well recognized university.
Eligible candidates are provided admission based on their performance in a relevant entrance exam like,
In India, the average annual fee charged for the course, ranges anywhere between INR 10K and 2 Lac, varying across institutes.
Top Institutes offering M.com. (Banking) are:
Successful graduates of the course can find job opportunities in various government and private sector companies and in areas like Banks, Business Schools, Mortgage Companies, Indian Economic Services, Investments, Savings and Loan Associations, etc. where they are expect an average monthly salary ranging between INR25k and 60K, at an initial level, depending upon candidate’s expertise and experience in the field.
Some of the major highlights of the course are tabulated below.
|Minimum Qualification Required||A graduation degree in B.Com. or equivalent qualification|
|Examination Type||Semester System|
|Admission Procedure||Counseling after taking Entrance Exam|
|Total Course Fee||INR 10k to 3 Lac|
|Top Recruiting Areas/Fields||Banks, Investments, Business Schools, Mortgage Companies, Indian Economic Services, Savings and Loan Associations, Credit Companies, Indian Civil Services, Insurance Companies, Property Developers, etc.|
|Job Positions||Administrative Officer, Business Analyst, Finance Manager, Loan Counselor, Investment Analyst, Loss Control Specialists, Investment Banker, Internal Auditor, Sales Officer, Risk Analyst, and many more.|
|Average Initial Annual Salary||INR 3 Lac to 8 Lac|
|Major Entrance Examinations||GGSIPU M. Com. Entrance Exam, IIMC Entrance Test, JMI M. Com. Entrance Exam, JNU M. Com. Entrance Exam, DU M. Com. Entrance Test, SRCC Entrance Exam, SJCC Entrance Test, etc.|
The program in Banking has been designed to offer to eligible candidates a specialization in various concepts of banking, banking laws, finance and financial management, which are required to function effectively within private businesses and banks.
Candidates interested in learning more about the discipline can also pursue higher degree courses like Ph. D, M. Phil., and certificate courses in Stock Market, Derivatives, Income Tax, Accounting, Micro Finance and Investment Banking, which will help them to grow higher in their career.
The course develops accounting and financial management skills in candidates and offers an in-depth adequate knowledge and practical skills to plan the financial strategy for an organization or company. During the course, candidates also develop skills in the areas of auditing, information systems, financial analysis, taxation, corporate governance and in subjects related to commerce. At the end of the course, students would have a thorough understanding about the causes and consequences of monetary policy decisions and skills to manage finance and investments.
One of the major objectives of the course is to impart professional exposure and training to candidates in diverse aspects of banking, finance and insurance, and produce graduates who are capable of successfully operating in and contributing to the finance industry. The course’s curriculum integrates the theoretical and practical components of the study.
In India, a large number of colleges and institutes offer a master’s degree in banking, but all of them are not considered to be good for the pursuance of the course. Some of the top colleges offering the course in the country are listed below along with their corresponding location (city) and fee charged by each (annually).
|Shri Ram Colleges of Commerce (SRCC)||New Delhi||INR 29,625|
|Loyola College||Chennai||INR 4,390|
|St. Joseph’s College of Commerce (SJCC)||Bangalore||INR 88,007|
|Hans Raj College (HRC)||New Delhi||INR 12,807|
|Indian Institute of Management & Commerce (IIMC)||Hyderabad||INR 12,710|
|Christ University||Bangalore||INR 57,500|
|Hindu College||New Delhi||INR 12,807|
|Narsee Monjee College of Commerce and Economics||Mumbai||INR 29,500|
|St. Andrews College of Arts Science and Commerce||Mumbai||INR 11,540|
|Symbiosis College of Arts and Commerce||Pune||INR 18,500|
|Mount Carmel College (MCC)||Bangalore||INR 80,000|
|Stella Maris College||Chennai||INR 3,870|
|Madras Christian College (MCC)||Chennai||INR 27,257|
|St. Xavier’s College (SXC)||Kolkata||INR 63,800|
|HR College of Commerce and Economics||Mumbai||INR 4,688|
|Nizam College||Hyderabad||INR 3,900|
|Indraprastha College for Women (IP)||New Delhi||INR 10,500|
|Goenka College of Commerce and Business Administration||Kolkata||INR 1,809|
|Ethiraj College for Women||Chennai||INR 18,700|
|KJ Somaiya College of Arts and Commerce||Mumbai||INR 7,113|
All the candidates interested in pursuing a career in Banking are required to first qualify all the below mentioned minimum eligibility criteria, in order to be eligible for the course.
A minimum aggregate score of 55% or equivalent CGPA is required at the level of graduation, which should be completed from a well-recognized institute or college. All ST/SC candidates are given a relaxation of 5% under the minimum aggregate section.
Graduation should be completed in B. Com. /BBA or any other equivalent qualification in a relevant commerce discipline, with Accounts, Mathematics and Economics as compulsory subjects. Candidates having a graduation degree with Honors in Accountancy, Economics, or Business/Management Studies can apply too.
Although, it is advisable to candidates, especially those who wish to pursue the course by correspondence mode, to have a work experience of minimum one year, as it is required by many reputed institutes.
Candidates waiting for their final year examination’s result are also welcomed to apply, but admission will be given to such candidates on a provisional basis until they satisfy all the mentioned eligibility criteria.
Most of the colleges and institutes providing the course in banking admit students based on their combined performance in the last qualification exam (i.e. total marks aggregated in the final exams of graduation) and a relevant entrance exam, conducted at institutional level.
Many institutes also conduct a counseling procedure, before allotting seats, which consists of a personal interview round, wherein candidate’s general aptitude for the course is examined by highly qualified faculty members. A merit list is then issued by each institute allotting available seats to the most deserving candidates.
However, there are certain universities that provide merit based admission, on the basis of candidate’s performance in the last qualifying exam (i.e. graduation).
Some of the major entrance examinations conducted by of the leading institutes of the country are listed as follows:
A semester-wise breakup of the course’s curriculum is tabulated below.
|FIRST SEMESTER||SECOND SEMESTER|
|Banking Law & Practice||Economics of Global Trade & Finance|
|Business policy 7 Strategic Management||Financial Markets in India|
|Commercial Bank Management||Financial Markets & Institutions|
|Direct & Indirect taxes||Financial Management|
|Financial Services||Forex Management|
|Foreign Exchange||International Financial Management|
|THIRD SEMESTER||FOURTH SEMESTER|
|International Banking & Finance||Principles of Personal Finance|
|Investment Management||Project Finance|
|Management Concepts||Quantitative Techniques for Finance|
|Management Information Systems||Research Methodology|
|Management of Financial Services||Modern Banking Theory, Law & Practice|
Candidates having a Master’s degree in Banking have great career scope and never-ending potential of growth, because of the growing start ups in India and India being a developing country and even in case of crisis, loss of job is highly minimal.
After successfully completing the course, one can get a job in banking and finance sectors of various MNCs and government and private banks like, ICICI, SBI, Central Bank of India, HDFC, etc. and in areas such as, Business Schools, Mortgage Companies, Indian Economic Services, Investments, Savings and Loan Associations, etc. where they can get a starting average salary ranging somewhere between INR 3 and 10 Lac, depending upon his/her dedication and hard work.
Candidates can also pursue higher degree courses in the discipline, like Ph. D. (Doctorate of Philosophy), M. Phil. (Master of Philosophy) and various other certificate courses for better career options and salary packages.
Some of the popular professional avenues open to such postgraduates are tabulated below along with the basic salary offered and job responsibilities associated to each.
|JOB PROFILE||JOB DESCRIPTION||SALARY (Tentative)|
|Business Analyst||A Business Analyst develops technical solutions to business problems and to advance a company's sales efforts and also assists with the business cases.||INR 3 Lac to 7 Lac|
|Finance Manager||A Finance Manager review financial reports, prepares financial forecasts, finds ways to improve profitability and also analyzes markets for expansion, mergers or acquisitions.||INR 2.5 Lac to 7 Lac|
|Investment Banker||An Investment banker helps the clients to raise money in capital markets by issuing debt or selling equity in the companies and also assists clients with mergers and acquisitions (M&As).||INR 3.5 Lac to 8 Lac|
|Lecturer||A Lecturer teaches students at undergraduate and graduate level, interviews course applicants and supervises Ph. D. students and research staff.||INR 2 Lac to 6.5 Lac|
|Risk Analyst||A Risk Analyst examines statistical reports and other documents and deals with problems related to physical location of the organization, potential for robberies, and the likelihood of employees being injured on the job.||INR 3 Lac to 5 Lac|