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online mba in banking and insurance

Updated at : February 20, 2024DOWNLOAD E-BOOK

Online MBA In Banking and Insurance

An online MBA in Banking and Insurance is a 2 years postgraduate course specializing in the management of the banking and insurance domain. The UGC-DEB has declared this course a valid degree to be delivered through online learning mode. The course focuses on the holistic development of the students to take up challenging managerial roles in the banking and insurance sectors. The program covers essential areas such as banking operations, risk management, insurance principles, and strategic management within the context of these critical industries. The flexible online format allows working professionals to enhance their expertise without interrupting their careers.

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Universities

2

Duration

2 - 4 Years

Eligibility info

Graduation or Equivalent

Online MBA in Banking and Insurance Program Overview

Banking and Insurance are the top sectors for job security and longevity. The jobs in the field are numerous as well as diverse. Management in this sector becomes an even better option as it offers better-paid roles and positions in top corporations, insurance agencies, financial firms and banks. An online MBA in Banking and Insurance allows you to further your knowledge and skills in this domain to develop a successful managerial career.

Being a PG degree course, it consists of 4 semesters spread across 2 years, during which students indulge in several interactive lectures, case studies, research, projects and discussions to develop themselves professionally. An MBAs online course, a flexible learning course, confers the additional advantage to students to intern/work or explore their professional opportunities alongside studying. 

Average Credit Risk Manager Salary in India

Professionals worldwide apply to this popular MBA specialisation in large numbers, making networking easier by letting students interact with peers from various backgrounds and learn more about international finance. Forums, networking events, and group projects all help to make learning more interesting and varied.

Online MBA grads have the strategic thinking, management, and sector-specific knowledge they need to move up in their careers, whether they want to move up the corporate ladder in their present companies or become leaders in the banking and insurance industries. The program trains leaders who can confidently handle the changing financial environment and have a big effect on the future of insurance and banks.

Why Online MBA in Banking and Insurance?

Professionals in the financial field who want to advance in their jobs should consider getting an online MBA in Banking and Insurance. The coursework for this specialised program is designed to teach students the ins and outs of banking, risk management, and insurance.

Furthermore, the program is completely online, which gives students more freedom so working people can balance their education with their jobs. The program examines international financial markets and regulatory systems, focusing on global views. This prepares graduates for the complicated world of interconnected finance. The training is also more useful because it includes technology trends and new ideas in banks and insurance. People who choose this online MBA spend time getting specific knowledge, improving their strategic thinking, and setting themselves up as leaders in the banking and insurance industries, which are always changing and growing.   

Who Should Pursue an Online MBA in Banking and Insurance?

The Online MBA in Banking and Insurance is designed to meet the needs of a wide range of students and working professionals who want to learn more about these important financial areas. However, below are some people who can pursue this MBA specialisation: 

  • Banking Professionals
  • Insurance Specialists
  • Financial Analysts
  • Risk Managers
  • Recent Graduates in Finance,
  • Professionals in Regulatory Compliance
  • Career Changers with Financial Interest

When should I do an Online MBA in Banking and Insurance?

The answer to this question depends on your job goals and personal situation. Getting specific knowledge early in your career can be helpful for recent grads. Pursuing this program after a few years of experience makes sense for workers already working there. This method lets you use the skills you've learned in real life, which helps you understand how complicated banking and insurance are. If you are just starting your job or want to move up, the Online MBA in Banking and Insurance will help you learn how to deal with the constantly changing financial world.

Popular & Affordable Private Colleges Or Universities for Online MBA in Banking and Insurance in India

Universities Offering Online MBA in Banking and Insurance

Ranking 2023 (Management)

Full Fee Range (Might Vary)

Amity University, Noida

28

1.80 Lakhs INR

Shoolini University Online

-

1.50-Lakhs INR

Shoolini Power MBA

-

2.00-Lakhs INR

Key Highlights of Online MBA in Banking and Insurance In India

  • The UGC-DEB approves an online MBA in Banking and Insurance as having equal value to an offline/regular MBA. 
  • The Online MBA in Banking and Insurance has a focused curriculum that covers insurance principles, risk management, and banking operations. 
  • Any candidate with a Bachelor’s degree (in any stream) from a recognised university with at least 45% to 55% aggregate marks is eligible to apply to this course. 
  • The program's online structure was made to fit working professionals. It lets people improve their skills without putting their jobs on hold, giving them more freedom to balance their academic goals and work obligations.
  • The course curriculum is updated and industry-oriented and helps learners develop a deep understanding of management, specifically in Banking and Insurance. 
  • The program puts a lot of stress on global views. It looks at international financial markets, legal frameworks, and the effects of global economic trends that prepare grads for how the banking and insurance industries are linked.
  • Usually, there is no entrance exam to get admission to the online MBA program in banking and insurance. However, some universities might decide to conduct a basic screening procedure as per their admission policies. 
  • The program emphasises innovation in banking and insurance while incorporating the latest trends in financial technology (FinTech). This ensures that graduates are skilled in traditional methods and ready to use technology for strategic advantage.

Online MBA in Banking and Insurance Course Syllabus

The online MBA in Banking and Insurance is a 2-year postgraduate degree course divided into 4 semesters. Given below is a general syllabus for all 4 semesters. The syllabus in the first two semesters is similar to that of the General MBA. The specialisation-specific topics have been taught in the last two semesters.

Semester I 

Semester II

Corporate Finance Essentials  

Creativity & Entrepreneurship 

Economics for Decision makers  

Market Research 

Quantitative Techniques for Management 

Marketing Management

Strategic Human Resource Management 

Professional Competency 

Strategic Management

Semester III

Semester IV

Credit Evaluation

Essentials of Risk Management 

Monitoring and Recovery Management

Retailing and CRM 

Project Management

Dissertation 

Infrastructure development and Financing

-

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MBA Online Banking and Finance

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MBA Online Sports Management

MBA Online Investment Banking Equity Research

Other Types of MBA Programs

Online MBA for Working Professionals

MBA Global Online

MBA Dual Specialization Online

MBA Distance Learning

Online MBA in Banking and Insurance Eligibility

Students must meet some basic requirements to be able to apply for this online MBA program. The requirements to get into this MBA in banking and insurance are very simple and easy to meet. Some universities may have specific needs, but here are some general ones: 

  • The applicant should have a bachelor’s degree from a recognised higher education institution. 
  • The applicant should have scored a minimum of 45% to 55% aggregate marks or an equivalent grade in graduation. 
  • Professionals from relevant fields can also apply for the online MBA in Banking and Insurance course. 

Duration of the Online MBA in Banking and Insurance

The online MBA in Banking and Insurance is a professional postgraduate degree course of 2 years. There are a total of 4 semesters of six months each. The students must work on and submit a project or a dissertation in their final semester. The flexible study hours and weekend live/recorded classes let working people get a complete education without taking time away from their jobs. This time gives you enough time to learn a lot about how banks work, how to handle risks, how insurance works, and how to make smart decisions. 

Skills Required for Online MBA in Banking and Insurance

  • You must be good at analysing money, which means knowing how banks work, how to evaluate risk, and how insurance works.
  • The candidate must be able to find, evaluate, and lower financial threats in insurance and banking settings.
  • Developing and carrying out long-term plans to improve operations and ensure long-term success in the fast-paced banking and insurance industries is also required.
  • A potential candidate must have the ability to talk to people clearly so that you can explain complicated financial information, reach deals, and work with people from different backgrounds.
  • Another necessary skill is financial technology (FinTech) and digital tools to make banking and insurance processes more efficient and open to new ideas. 

Is an Entrance Exam Conducted For an Online MBA in Banking and Insurance?

Usually, you don’t need any entrance exam for an online MBA. However, some of the exams conducted for a regular MBA are listed below. There are 

CAT (Common Admission Test)

KMAT (Karnataka Management Aptitude Test)

TANCET (Tamil Nadu Common Entrance Test)

SNAP (Symbiosis National Aptitude Test)

CMAT (Common Management Admission Test)

MAT (Management Aptitude Test)

XAT (Xavier Aptitude Test)

NMAT (NMIMS Management Aptitude Test)

PGCET (Postgraduate Common Entrance Test)

ATMA (AIMS Test for Management Admission)

GMAT (Graduate Management Admission Test)

MAH CET (Maharashtra Common Entrance Test)

Note: Some universities offering online MBA can also ask for a good score in the abovementioned exams. So, check the eligibility requirements of your university carefully.

Recommended Books

Below, you can find a list of the popular books which are used in the curriculum of the online MBA in Banking and Insurance: 

Title

Author(s)

"Bank Management and Financial Services"

Peter S. Rose, Sylvia C. Hudgins

"Financial Risk Management: Models, History,

and Institutions"

Allan M. Malz

"Insurance: Concepts & Coverage"

Marshall Wilson Reavis III, CPCU, ARM, AIM

"Strategic Financial Management: Exercises

and Solutions"

Robert Alan Hill

"Global Banking"

Roy C. Smith, Ingo Walter

Online MBA in Banking and Insurance Admission Procedure

All the steps of the online MBA in Banking and Insurance admission procedure are described below: 

  • Go to the official website of the university where you seek admission. 
  • Register as a new user on the website and fill out the application form. 
  • After filling in your details in the application form, upload all the necessary documents in the digital format. 
  • If there is a registration fee, then pay the fee online and submit the application form.  
  • After this, you must pay the course's academic fee to secure your seat. 
  • After successfully paying the academic fee, you will receive your student ID and other enrollment details, like your login credentials. 

admission procedure for online MBA in Banking and Insurance

Online MBA in Banking and Insurance Academic Fees 

The average course fee range for an online MBA in Banking and Insurance ranges from INR 1,00,000 to INR 1,50,000. Most universities that offer this online or ODL MBA in Banking and Insurance to students also provide financial support features such as EMI for fee payment, fee concessions/scholarships, and educational loans. You can use College Vidya Compare to determine how much an online MBA in Pharmaceutical management costs at different universities.

Why Opt for an Education Loan for an Online MBA in Banking and Insurance?

No-cost EMI facilities give people who want to become professionals more financial freedom by letting them handle tuition costs, study tools, and other costs of education. With EMI facilities, it is easier to pay for programs because they have low-interest rates and flexible payment plans. This lets people focus on their studies without worrying about money right away. 

Is an Online MBA in Banking and Insurance Worth It?

Getting an online MBA in banking and insurance is a great idea for people who need to learn more about the complicated world of finance. The program's specialised curriculum teaches you how banks work, how to handle risk, and how insurance works, ensuring that graduates have the in-depth information they need for top positions. Due to the flexibility of the online format, working people can balance their education work with their regular jobs. 

Online MBA in Banking and Insurance gives people the skills they need to deal with the changing problems in the banking and insurance industries by giving them a world view and including the latest trends in financial technology. An Online MBA in Banking and Insurance is more than a good way to improve your grades. It's also a smart investment that can help you advance in your job and become an expert. 

This program is, without a doubt, an asset in the competitive world of finance because it provides networking chances, a diverse cohort, and expert views. As the need for skilled workers in insurance and banking continues to grow, this program's benefits show that it is worth it. It promises a life-changing educational journey that will have long-lasting effects on job paths and services to the financial industry. 

Job Opportunities After Online MBA in Banking and Insurance 

After completing your online MBA in Banking and Insurance, the jobs you get are highly reputed, well-paid, and secured. Therefore, the future scope of a career in this field is wide and prosperous.

Some of the popular job roles after the online MBA in Banking and Insurance are given in the table below: 

Investment Banking Analyst

Credit Analyst

Equity Manager

Insurance Investigator

Investment Banker 

Insurance Claims Adjustor

Business Consultant 

Investment Banking Associate

Top Recruiters

Online MBA in Banking and Insurance might sound like a course for jobs only in the banking sector. However, this is different. Since it is a management course, you get job opportunities in various public and private insurance and finance firms, apart from banks. Even top companies and corporate firms from all other sectors hire banking and insurance management graduates to manage their organisations' accounts and finances. 

Online MBA in Banking Insurance.

Let's clear up some doubts about Online MBA in Banking and Insurance

The minimum eligibility criteria for online MBA in Banking and Insurance is a Bachelor’s degree in any discipline from a recognized university with a minimum of 45% to 55% aggregate marks.

The academic fee for the online MBA in Banking and Insurance may vary across universities and colleges. However, the average fee ranges between INR 1,00,000 to INR 1,50,000 for the full course. 

Yes, the duration for the online MBA in Banking and Insurance is 2 years, which is the same as that of the offline course. The maximum period of course completion in the case of an online MBA (Banking and Insurance) is 4 years. 

 

After pursuing the online MBA in Banking and Insurance course, you will be able to get jobs in fields like investment banking analysis, credit analysis, insurance investigation, equity management, business consultancy, and alike. Job scope is available in both private and public domains in top companies, corporate firms, banks, financial firms and insurance companies. The jobs are handsomely paid as well.

Yes, as per the guidelines from UGC-DEB regarding online and ODL education in India, an online MBA in the specialization of Banking and Insurance is completely valid and also equal in value and credibility to a regular MBA course.

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