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Mohit Dhulia
A diploma in Banking and Finance is a one-year diploma programme that may be completed after completing 12th grade. The course covers all of the fundamentals of banking and finance and prepares students for careers in banking, finance, insurance, investment, risk management, computer application, and information technology, among other fields.
This course is open to students who have finished their 12th grade in any subject. However, certain universities, such as MIT Pune, need a graduate degree as a prerequisite. This programme is available to students who have finished their graduation for a period of four months. Admissions are made on the basis of merit, with an interview following. Only a few colleges provide this diploma programme on a regular basis on campus.
This course is usually taken online or by correspondence. This specialist diploma programme is offered by a number of institutes and colleges. The average course fee is roughly INR 20,000–30,000; however, it varies according to the college’s affiliation, location, and course structure. Diploma holders might work in corporate banking, auditing departments, financial consulting, and other fields.
In employment categories such as Financial Analyst, Credit & Risk Manager, Store Manager, Internal Auditor, and others, a Banking and Finance Diploma holder may expect to earn roughly INR 2-6 lakhs per year on average. Most students pursue a Bachelor’s degree or advanced certification courses in the Banking & Finance profession in order to obtain better positions and a higher wage.
| Course Name | Diploma in Banking and Finance |
| Course Level | Diploma after Class 12 or Graduation |
| Duration | 1 year |
| Examination Type | Semester |
| Eligibility | Bachelor’s degree or Class 12 or any equivalent examination with a minimum aggregate of 50% marks and above |
| Admission Process | Merit List, Personal Interview or Entrance examination |
| Average Fees | INR 10,000-40,000 |
| Average Salary | INR 3 to 7 Lakhs per annum |
| Top Recruiting Companies | Banking Sector, Credit Administration, Auditing Departments, Corporate Banking Sectors, Financial Consultancies, etc. |
| Job Positions | Financial Analyst, Credit and Risk Manager, Internal Auditor, Loan Counsellor, Administrative Officer, Financial Consultant, etc. |
Candidates interested in pursuing this diploma degree must meet the mandatory requirements set forth by their respective colleges.
Some colleges admit students after they have completed their graduation, while others admit students after they have completed Class 12, depending entirely on the rules established by the colleges and institutes.
| Relevant Links | ||
|---|---|---|
| Bachelor Of Elementary Education [B.El.Ed] | Bachelor Of Physical Education [B.P.Ed] | Basic Teachers Course [BTC] |
| Diploma In Computerised Accounting [DIC] | Diploma In Accounting And Finance | Bachelor Of Education [B.Ed] |
The qualifying criteria vary by college, however, the following are the basic requirements for enrolling in the Diploma in Banking and Finance programme:
For admission, reputable colleges and universities offering this diploma course, such as NMIMS, Indian Institute of Banking and Finance, and others, hold an entrance examination. These exams allow institutions to assess a student’s knowledge and abilities before making a decision. General Awareness, General English, Logical Reasoning, and maybe General Banking questions are all in the syllabus for these admission tests.
A few of the reputed institutes conduct entrance exams like CAT, CAIIB, JAIIB, etc. to admit candidates to their postgraduate diploma in banking and finance. The examination dates of a few of the popular diploma in banking and finance entrance exams are mentioned below:
| Diploma in Banking and Finance Entrance Exam | Last Date of Registration | Exam Date |
| JAIIB | 25th April 2022 | 11th, 12th and 19th June 2022 |
| CAIIB | 31st May 2022 | 26th June to 9th July 2022 |
| CAT | 23rd September 2022 | 27th November 2022 (tentative) |
| GMAT | Not Applicable | Multiple times a year |
| XAT | 30th November 2022 (tentative) | 1st week of January 2023 |
The course covers a variety of topics in the banking and finance industry. The syllabus has a good combination of theory and case studies. The test is held at the end of each semester, and it is accompanied by the submission of projects and assignments, the weighting of which is determined by the college’s requirements.
The following is the diploma course’s semester-by-semester syllabus:
| Semester I | Semester II |
|---|---|
| Principles & Practices of Banking | Marketing of Financial Services |
| Legal & Regulatory Aspects of Banking | Business Law |
| Accounting & Finance for Bankers | Taxation – Direct and Indirect |
| Business Economics | Retail Banking |
| Corporate Social Responsibility | Information Systems for Managers |
| Organizational Behavior | Business Communication and Etiquette |
The diploma in Banking and Finance semester-based curriculum helps students understand the Diploma in Banking and Finance. In addition to classroom lectures, students will have the opportunity to try out advanced features in a research setting. More Diplomas in Banking and Finance electives and essential academic subjects are available in the one-year program. The following is a list of subjects for the Diploma in Banking and Finance:
Along with the Diploma in Banking and Finance core subjects, there are several elective subjects available to the students to choose from in order to gain specialized knowledge and experience. The diploma in banking and finance course also incorporates practical workshops, mandatory internships, research projects, and/or thesis submission.
Many colleges offer this Diploma course in conventional courses, correspondence, online, and distance learning to qualified students.
The top diploma in Banking and Finance colleges in India are included in the table below:
| College Name | Location | Average Fees |
|---|---|---|
| NMIMS | Navi Mumbai | INR 51,200 |
| National Post Graduate College | Lucknow | INR 15,000 |
| Marathwada Mitra Mandal’s College of Commerce | Pune | INR 30,000 |
| Greenway Institute of Management studies | Dehradun | INR 25,000 |
| Indo Asian Academy Degree College | Bangalore | INR 50,000 |
| New Arts, Commerce and Science College | Ahmed Nagar | INR 9,520 |
| Subbalakshmi Lakshmipathy College of Science | Madurai | INR 40,000 |
| Guru Kashi University | Bathinda | INR 55,000 |
| Swami Vivekanand University | Madhya Pradesh | INR 23,100 |
The table below compares and contrasts some of the best colleges for pursuing a Diploma in Banking and Finance:
| Parameters | National Postgraduate College, Lucknow | MIT College of Management, Pune | New Arts, Commerce, and Science College, Ahmed Nagar |
|---|---|---|---|
| Overview | It is the only autonomous college in Lucknow that enjoys the highest status of ‘College with Potential for Excellence. | The college comes under the MIT Group of Institutes, which has around 72 institutes under its umbrella. They offer the students a unique holistic learning experience based on real corporate issues. | It is one of the biggest and most renowned educational institutes under Savitribai Phule Pune University. |
| Ranking | #28 for commerce by the Week 2017 | #122 for overall university ranking by Business Today 2019 | – |
| Annual Fees | INR 15,000 | INR 20,000 | INR 9,500 |
| Average Placement Salary | INR 2,50,000 | INR 4,00,000 | INR 1,92,000 |
| Top recruiting companies | Apex, Exil, HCL, iGATE, IBM, Wipro, i-flex, Genpact, South Indian Bank, TATA, etc. | Bank of Baroda, Union Bank, Bajaj Allianz, Birla Sun Life Insurance, Bharti Axa Life Insurance, Angel Broking, Citi Bank, etc | TCS, Hiphysics Laboratory, Terasoft Pvt. Ltd, Jubilant Chenosys, etc. |
| ROI Rank | College Name | Average annual fees | Average placement offer |
|---|---|---|---|
| 1 | MIT College of Management, Pune | INR 20,000 | INR 400,000 |
| 2 | National Postgraduate College, Lucknow | INR 15,000 | INR 250,000 |
| 3 | New Arts, Commerce, and Science College, Ahmedabad | INR 9,500 | INR 192,000 |
Both are one-year diploma programmes that provide education and an in-depth understanding of topics such as banking, accounting, and finance. Although these two courses are comparable, there are some variances in their syllabuses and course content.
Some of the key changes between the two courses are shown in the table below:
| Parameters | Diploma in Banking and Finance | Diploma in Accounting and Finance |
|---|---|---|
| Course Overview | This course is a diploma level course that provides training and increases the competence of students to evaluate the constant changes pertaining to finance, methods of dealing with the financial crisis as well as the basis for bailouts for various banks across the country | This course is a diploma level course that makes students aware of different aspects of Accounting and Financial management policies which covers areas such as Fundamentals of Accounts and Finance, the Indian Banking system, Use of technology in Accountancy and Finance, etc. |
| Eligibility | Class 12 or Graduation with at least 50% | Class 12 with at least 45-50% |
| Syllabus | Principles & Practices of Banking, Business Economics, Taxation, Business Law, Retail Banking, etc. | Fundamentals of Accounting, Accounting & Audit Practice, Financial Risk Management, Indian Financial System, etc. |
| Average Fees | INR 30,000- 60,000 | INR 10,000-60,000 |
| Average Salary | INR 2-6 Lakhs Per Annum | INR 2-6 Lakhs Per Annum |
Students can work in the commerce sector in sectors such as accounting, banking, finance, business counselling, and so on after completing either of these courses.
Graduates with successful completion of this degree will be able to work in reputable banking and investment sectors in entry-level roles in both the public and private sectors. They are educated in numerous facets of banking and finance, making them qualified for positions in stock exchanges, financial firms, and a variety of other settings.
Students learn skills in the investment and financial management sectors, as well as an understanding of corporate finance, investments, and securities, which can lead to higher-paying positions for both new and seasoned professionals. Diploma holders have a wide range of work opportunities in banking, corporate banking, financial services, auditing, credit administration, and other fields.
They can work as a Business Analyst, Internal auditors, Loan counsellors, Credit and Risk Managers, Stock Analysts, and other similar professions. Following is a list of some of the most frequent positions that may be obtained after completing a Diploma in Banking and Finance:
| Job Profile | Job Description | Average Salary per Annum |
|---|---|---|
| Loan Counsellor/Officer | A Loan Counsellor assists clients to get a deeper insight into whether the loan suits the requirement of the clients or not. They also provide clients with an understanding of loans, restrictions and repayment policies. | INR 3 LPA |
| Securities Analyst | They are active and abreast of the latest trends and news as well as about mergers and acquisitions, the company’s financial stability and its position in the market. | INR 4.7 LPA |
| Investment Banker | They assist clients in aspects of mergers and acquisitions, issuing debt, selling equity and advising them regarding lucrative finance opportunities in the future. | INR 8.41 LPA |
| Administrative Officer (AO) | Their work includes providing administrative support to clients and managing their queries. They are also responsible for preparing reports, framing budgets and organization of company records. | INR 3.49 LPA |
| Internal Auditor | They are usually responsible for auditing internal documents, ensuring transparency and assisting companies in tallying their finances. | INR 4.67 LPA |
| Recovery Agent | They assist clients to recover their debt and property, working for individuals as well as organizations and companies. | INR 2.5 LPA |
| Market Analyst | They work in performing market research, gathering data to assist companies in meeting their target sales, and evaluating and using statistical techniques to research market techniques. | INR 3.55 LPA |
| Financial Analyst | They are responsible to create financial models by gathering data, monitoring and creating a thorough report. Their work also includes identifying trends, forecasting and assisting companies in decision making with respect to finances. | INR 4.46 LPA |
| Money Manager | They are usually employed in top companies and responsible for the management of securities, researching, and monitoring of sales and assets of the company. | INR 8.7 LPA |
| Credit and Risk Manager | The work involves the development and processing procedures in order to reduce credit risk for financial institutions. It also includes building financial models which enable to prediction of the credit risk criteria for the organization. | INR 18 LPA |
If a professional has some experience in the banking and finance industry, the opportunities for employment are substantially greater. If you don’t wish to pursue a Bachelor’s or Postgraduate degree, you should enrol in this one-year Diploma programme to gain a fundamental understanding of the topic.
Financial planning, asset management, retail banking, and other courses are covered in their curriculum, making certificate holders ideal for introductory or entry-level positions.
Professionals who have gained some experience and passed the banking tests are entitled to apply for senior-level positions, which pay between INR 40,000 and INR 80,000 per month.
However, most diploma holders prefer to pursue higher education due to the high level of competition, and the certificate clearly aids in obtaining higher-paying positions.
Following your Diploma in Banking and Finance, you can pursue one of the following commerce degree programmes:
A Bachelor of Commerce (B.Com) is an undergraduate degree for students with a background in business. After finishing a diploma degree in a specialism such as accounting, taxation, computer applications, finance, and so on, you can pursue this specialised study.
You can pursue a variety of 6-month certificates, such as Digital Banking, Asset Management, and so on. These can help you become an expert in that field and may even help you obtain a higher-paying career.
If you completed this course after graduation, you can continue on to master’s degree programmes like M.Com or MBA, which can help you achieve employment stability and improve your professional competence and excellence.
Applicants who are interested in enrolling in the Diploma in Banking and Finance program must have solid math skills in addition to the other skills listed below:
The above-listed skills are crucial for candidates not only in order to successfully crack the Diploma in Banking and Finance entrance exams but also to gain good scores at the end of the diploma program.
Ans. Students who want to study this field can enrol in this course after passing an entrance examination or a personal interview round, and after applying for the course by filling out an application form with your information and background and submitting it either offline or online.
Ans. Some of the common subjects that are included in this 1-year course are:
Introduction to Banking
Principles of Banking
Introduction to Finance
Investment Banking
Retail Banking
Taxation, etc.
Ans. Yes, you can take this course in a variety of methods, including in a traditional classroom setting, online, or via correspondence.
Ans. Reputable colleges, such as NMIMS, offer diploma recipients placement chances with average income compensation of roughly INR 3-4 LPA. However, this is not the case in many colleges, and students must find work on their own. They may receive assistance and direction on how to locate relevant positions in the banking and financial sector from their lecturers and peers.
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