If you want to make a career in the banking and finance industry and are confused about which subject to choose, then today’s post is going to be very useful for you.
Banking and Insurance sectors provide a great platform to the candidates for better future growth as well as offer numerous job opportunities.
Today in this blog we will talk about the Bachelor of Banking & Insurance (BBI) Course and provide you with all the necessary details about the BBI course that you need to know to pursue this course.
BBI Course details
The full form of BBI is Bachelor of Banking and Insurance. Bachelor of Banking & Insurance (BBI) is an undergraduate degree course that can be done after completing 10+2 and this is related to the commerce field.
The BBI course focuses mainly on providing in-depth study and training in various fields like accounting, banking, insurance law, finance, insurance regulations etc.
Under the BBI course, candidates gain theoretical knowledge and apply that practically in the real world. They are trained to handle various technologies used in the banking and insurance fields.
In this course, training is provided to the students with the help of assignments, presentations, projects, industrial visits, etc to understand the dynamics of banking and insurance more effectively.
BBI Course duration
The duration of the BBI course is 3 years and the whole course is divided into six semesters. In case of some colleges and universities the course duration may extend up to 4 years according to their course structure.
Eligibility Criteria for BBI Course
If you want to pursue a bachelor’s degree in Banking and Insurance or BBI course, you must have to fulfil certain conditions that vary from one university to another.
The eligibility criteria for the BBI course that one must fulfil is given below :
- Candidates must have qualified 10+2 or its equivalent with commerce as mainstream from a recognised board.
- The candidates are required to obtain a minimum aggregate of 45%- 50% for a BBI course. However, this percentage can vary from university to university.
- If a candidate is appearing for 12th examination, can also apply for the BBI course on a provisional basis.
- If you want to apply for a BBI course in India, there might be some colleges or universities that ask you to qualify university entrance exams conducted by them.
- If you want to study abroad, you need to qualify SAT exams and English Proficiency Test (IELTS/TOEFL) with a good score.
BBI Course: Admission Procedure
The admission process for BBI courses depends on the universities in which the candidates are applying. You can apply in both government and private universities for this course.
Some universities take admission to the BBI course on the basis of scores secured in the entrance examination conducted by them.
Along with entrance examinations, some universities conduct personal interview rounds and group discussion rounds for the selection of candidates for that course.
But there are some colleges or universities that offer direct admission to the BBI course on the basis of marks obtained by the candidate in the qualifying exam.
At the time of admission, candidates are required to submit all the necessary documents, mark sheets of 10th and 12th, and other certificates mentioned in the application form.
BBI Course: Entrance Exam
There is no such entrance examination conducted at national level to get admission to the Bachelor of Banking & Insurance (BBI) course.
However, some universities conduct their own entrance examinations for BBI courses like University of Delhi. While some colleges/ universities offer direct admission on the basis of merit-list following Personal Interview or Group Discussion Round.
The entrance exam conducted by the universities includes the following subjects:
- General Awareness
- English Communication
- Quantitative Aptitude
- Logical Reasoning and Critical Thinking
Some of the popular BBI entrance exams conducted by various universities are as follows:
- Chandigarh University Entrance Exam
- Narsee Monjee College of Commerce and Economics Entrance Exam
- Paul’s College, Ulhasnagar Entrance test
- Mumbai University Entrance Test
- N.N. College, Thane Entrance Test
- K. College entrance test
How to prepare for BBI entrance exam
As we have described earlier, there is no particular entrance exam conducted to get admission to the BBI course.
However, if you are taking admission in a reputed private university then you will have to crack the entrance examination conducted by that institution with a good score.
Here we have provided few tips that will help you prepare for the entrance examination for BBI course conducted at university level:
- First of all you must understand the examination, their subjects and syllabus, question paper pattern and its difficulty level, etc. It will help you in implementing effective strategies to clear that exam.
- Practice previous year question papers of that university in which you are interested in. As these questions have already appeared it will give you an idea of their level of questions.
- After analysing last year’s papers, practice more and more questions that are repeated every year and solve related questions also.
- To increase your speed you should try to attempt question papers in a given time slot.
- Apart from all these points, you must have to score good marks in your 12th exam.
BBI Course Syllabus
BBI syllabus structure generally varies from college to college but the basic topic related to various aspects of banking and insurance remain the same.
The syllabus of BBI course is given below:
|First Year||● Principles of Management
● Business Law
● Principles of Banking & Insurance
● Financial Accounting
● Effective communication 1&2
● Management of Financial Services
● Introduction to Computer Systems
● Micro Economics 1
● Quantitative Methods 1
|Second Year||● Management Accounting
● Financial Market
● Taxation of Financial Services
● Financial Management 1&2
● Financial reporting & Analysis
● Universal Banking
● Customer Relationship
● Entrepreneurship management
● Cost Accounting Insurance & Banking
● International Banking
● Business Ethics
● Central Banking
● International Business
● Banking Project
● Strategic Management
● Portfolio Management
● Turnaround Management
BBI Course: Fee Structure
The average fee for the BBI course may vary according to the institution as it depends on several factors like the placement and location, institute’s rating, facilities and infrastructure, etc.
In India, the average fee for the BBI course ranges from Rs 14,000 to 1 LPA. In some colleges it ranges between Rs.20,000 to 30,000 per semester.
BBI Course: Job Profile and Career options
Career after BBI course
After completion of the BBI course, candidates have many options. They can either go for higher studies or can apply for jobs in the private and public sectors.
As banking and insurance provide excellent job options, you can start working in various fields like financing, insurance, banking, auditing and accounting according to their interest.
The average starting salary offered to a Banking & Insurance fresher is around Rs. 3 lakh to Rs. 4 lakh per annum.
However, if someone wants better employment opportunities with high salary packages then they can definitely join MNCs, finance sector or any reputed and nationalised banks.
Apart from this, to diversify their knowledge candidates can pursue further studies like M.Com in Banking and Finance, PhD etc. They can also opt for any certification like CA, CS or CFP after having some professional experience in a particular field.
However, if someone is interested in government jobs they can also appear for any competitive exams or banking exams along with the BBI course.
Therefore, we can say that this is a very demanding course and there is immense scope after the BBI course. It is a great option to create a secure and substantial future ahead.
Job profiles after BBI course
BBI graduates have numerous options and they can work in various industries that offer great career opportunities of their interests.
Some of the job areas that you can explore are listed below:
- Commercial Banking
- Investment Banking
- Hedge Fund Opportunities
- Corporate Finance
- Private Equity and Venture Capital Industry
The job roles/ positions for which you can apply in different industries are as follows:
- Finance Officer – Finance officers are responsible for overseeing the financial transactions of an organization. They assist in financial audits, preparing and planning budgets, monitoring daily transactions, preparing balance sheets, invoices and financial reports. They have a strong background in accounting, finance or a related field. They possess good communication skills and analytical skills.
- Accountant – An accountant is a professional who performs functions related to accountancy such as preparing, analysing, auditing, and finalizing the accounts of individuals or any organization they are working with.
- Financial Advisor – The main role of a Financial advisor is maintaining and building client base and updating their portfolios. They instruct their clients on insurance, taxes, investments, college savings accounts, estate planning and retirement.
- Insurance Manager – The main responsibility of an Insurance manager is to monitor the operations of an insurance company on a daily basis. They also oversee different specialists such as underwriters, claims investigators, risk managers, brokers, actuaries. However, there main focus is on the skills and performance of sales agents working in the company.
- Banker – A banker is a person who is responsible for performing all the banking activities in a bank such as exchanging of money, accepting deposits from other persons, withdrawing money, lending money and making loans.
- Financial Analyst – The responsibility of Financial analysts is gathering data and information, organizing information, analyzing financial results, making forecasts and projections, developing recommendations, building Excel models, making presentations and generating reports. They make business recommendations on the basis of interpreted data.
- Internal Auditor – An internal auditor is a professional who evaluates the efficiency of internal control structure of a company’s operations.
- Loan Officers – A loan officer is a professional who works for any financial institution like banks, mortgage companies, credit unions or independent lenders to assist borrowers in the process of applying for loans. They have the authority for reviewing, evaluating, authorising approval or denying loan applications for their client.
- Sales Manager – A sales manager is responsible for maintaining sales operations of an organization and guiding the sales agents. They monitor the strategy of sales, establish sales goals, and observe sales performance. Their responsibility differs from company to company but their general responsibility of sales operation remains the same.
BBI Course: Top Recruiters
After completion of BBI course, there are many recruiters and companies that look to hire BBI graduates as both freshers and experienced. Some of them are given below:
- Tata Consultancy Services (TCS)
- EY, etc.
BBI Course: Salary packages
After completing a BBI course, a BBI graduate can get huge salary packages and so many perks.
If we talk about a job having several benefits with high salary packages, the government sector will be a better option.
In the private sector, the average salary packages after a BBI course may range between INR 30,000 to INR 60,000 per month.
However, the salary packages can vary according to the job roles, company, experience and knowledge in the subject.
With time as your working capabilities and
experience level keeps increasing, the salary will also increase.
Some of the salary packages after BBI course are given below:
- Financial Advisor – INR 4 LPA
- Cashier – INR 2 LPA
- Accountant – INR 3 LPA
- Loan Counsellor – INR 2 LPA
- Insurance Manager – INR 6 LPA
Who should opt for the BBI Course?
Students from any background or with any stream can pursue Bachelor of Banking & Insurance (BBI) course. But as we know that some prior skills are required to pursue any course, here we have provided some major skills that candidates must possess to pursue BBI course:
- Candidates should have good communication skills.
- Some knowledge of the Banking sector will make it easier.
- Basic Knowledge about the course they are applying to.
- It will be good to have some ideas about Foreign Exchange.
- Students should have the ability to manage huge loan files.
- If candidates have any specializations like credit analysis skills, will be an added advantage.
Top colleges/ universities for BBI Course
In India there are a number of colleges and universities that provide Bachelors in Banking & Insurance (BBI).
Here is a list of some of the popular colleges for the BBI course on the basis of their fee structure and the quality of education they provide:
|Indian School of Business Management and Administration, Ahmedabad||INR 14,900|
|CT University Ludhiana||INR 40,000|
|Thadomal Shahani Centre of Management, Mumbai||INR 45,000|
|International College of Financial Planning, Delhi||INR 68,000|
|Quantum University, Roorkee||INR 69,000|
|Jain University, Bangalore||INR 1,40,000|
|RNB Global University, Bikaner||INR 1,80,000|
|Chandigarh University, Chandigarh||INR 1,95,000|
|University of Technology and Management, Shillong||INR 2,37,000|
|ApeejayStya University, Gurgaon||INR 2,50,000|
|Sandip University, Nasik||INR 3,00,000|
|Lovely Professional University, Delhi||INR 3,98,000|
|ManavRachna International University, Faridabad||INR 4,08,000|
|Sir PadampatSinghania University, Udaipur||INR 6,70,000|
|GD GoenkaUniversity, Gurgaon||INR 8,40,000|
In conclusion, a Bachelor of Banking and Insurance (BBI) course is an ideal option for candidates who want to make a career in the insurance and banking sector.
You should have good knowledge and skills related to the banking and insurance fields to pursue this course.
This field provides numerous job opportunities and benefits to you and helps you in creating a secure future ahead.