NIIT with ICICI Bk to enter financial services training

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NIIT with ICICI Bk to enter financial services training

NIIT partners with ICICI Bank to enter financial services training. Launches IFBI, Institute of Finance, Banking & Insurance to provide trained manpower for the Financial Services sector

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NIIT, Asia's largest IT trainer, today announced its entry into training for the financial services sector, with the launch of the IFBI, Institute of Finance, Banking and Insurance. NIIT has set up the Institute in partnership with the ICICI Bank, India's second-largest bank, to cater to the needs of the exponentially-growing Banking, Insurance and Financial Services sectors in India and overseas markets.

The Institute was jointly launched by Mr. K.V. Kamath, Managing Director and CEO, ICICI Bank, and Mr. Rajendra S. Pawar, Chairman, NIIT, at an event today.

Speaking on the occasion, Mr. K.V. Kamath, Managing Director and CEO, ICICI Bank said, 'The explosive growth of the Indian Banking and Financial Services sectors will be hampered by shortage of qualified people, unless we invest in educating and training professionals who can join the field.'

'As an industry leader, ICICI Bank felt the need for an Institute that could service the Financial Services industry as a whole. We are happy that NIIT has responded with the setting up of the IFBI, and we will contribute to this initiative through equity participation as well as inputs on course design. We hope IFBI will replicate NIIT's achievements in creating skilled professionals in the IT area', he added.

IFBI will commence admissions in October 2006 and its first offering, a 6-month full-time programme, the Post Graduate Diploma in Banking Operations (PGDBO), will focus on grooming entry-level professionals for the banking industry. The ICICI Bank has offered to recruit all the

students of the first batch as Officers upon successful completion of the programme.

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