Federal Manipal School of Banking launched at manipal University bangalore campus

Updated on: Wednesday, January 30, 2013

Manipal Global Education Services [MaGE] and Federal Bank recently announced the launch of Federal Manipal School of Banking at the Manipal University Bangalore Campus. The inauguration was presided over by Abraham Chacko, executive director, Federal Bank and V Sivaramakrishnan, executive president, education services, Manipal Global Education Services.

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, coupled with intensive grooming and soft skills training. On successful completion, students will be awarded a postgraduate diploma in Banking & Finance by Manipal University and will be absorbed as probationary officers by the Federal bank.

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.

On this occasion, Abraham Chacko, executive director, Federal Bank, said “We are happy to announce the commencement of this programme in association with Manipal Global Education Services. 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.”

Adding to this, V Sivaramakrishnan, executive president, Education Services, MaGE said, “We are delighted to enter into this partnership with Federal Bank, aiming to provide domain specific customised certification programmers for the banking sector to address the current skill gap scenario. The innovative train-hire-deploy model employed ensures that banks get first-day-first-hour productive talent, thus eliminating expensive hiring from B-schools and salary outlays for a new recruit”.

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 reveals a whopping 71 per cent of Indian PSU banks who consider “talent attraction and retention “as one of their biggest challenges. This partnership between MaGE and Federal Bank is thus being widely acclaimed as a timely and thoughtful step.

Federal Manipal School of Banking launched at manipal University bangalore campus

More Education news