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New RBI policy to help skilling in financial sector
HRK News Bureau | New Delhi | Friday, 27 October 2017

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Fitch Learning will be providing financial education programmes to train professionals across the financial services sector.

The banking sector has changed significantly in the recent past, becoming more complex now than before. Also, adoption of technology, such as machine learning, automation, AI and so on, has changed the way banks operate. These technologies are helping them improve their operations and serve their customers better. The sector now requires a skilled workforce with specialisation in specific niche segments. The banking professionals need to upskill themselves for better career prospects.

Also, as per the National Skill Development Corporation (NSDC), the banking, financial services and insurance (BFSI) sector will need an additional 1.6 million skilled workers by 2022. Therefore, there will be more opportunities in this sector.

Considering the need to skill, the Reserve Bank of India (RBI) has made a new policy requiring skilling of financial professionals with high standards. For this, the Indian Banks’ Association (IBA) has selected Fitch Learning to provide financial education programmes to skill and train the professionals across the financial services sector.

Fitch Learning has two modules for this skilling programme—the first is a training initiative aimed only at specific banking institutes, which comply with RBIs specifications for certification mandates. The second is an open course offering, where banks can register their staff to participate as individuals.

The aim is to develop a tranining programme and provide certification across credit risk management, accounting, treasury, and foreign exchange operations.

The course—which will start in November 2017, at Mumbai—consists of financial and credit risk programmes, including warning signals and lessons learned in corporate credit.

The banking sector has become complex with changing products and services, delivery mechanism and operations. Young financial professionals need to tackle the uncertainty, complexity, volatility and ambiguity in this sector. The courses are designed to equip them with skills to deal with these very issues in the sector.  

© 2016 HR Katha

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