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online mba banking financial services and insurance

Updated at : February 20, 2024DOWNLOAD E-BOOK

Online MBA In Banking Financial Services and Insurance

An online MBA in Banking, Financial Services and Insurance ( BFSI ) is a 2-year postgraduate program in management meant to give working people a full idea of how the financial sector works. This MBA specialization is designed in a highly industry-relevant way. It has a practically oriented curriculum that helps the graduates in this course secure jobs with handsome salaries in prestigious banks and financial institutions. The program is taught through online learning tools and covers important topics like how banks work, risk management, insurance basics, and strategic management in the BSFI area.

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Universities

5

Duration

2 - 4 Years

Eligibility info

Graduation or Equivalent

Online MBA in Banking Financial Services and Insurance Program Overview

The Online MBA in Banking, Financial Services, and Insurance (BSFI) is a life-changing educational path for workers who want to do well in the fast-paced and widely connected field of finance. Within the specific setting of the BSFI sector, this specialised postgraduate program covers a wide range of topics, including how banks work, risk management, insurance principles, and strategy management. The program is designed to be flexible and given online so working people can improve their skills without taking time away from their jobs. 

This course is designed for freshers and working professionals who wish to excel in banking and finance. Such aspirants must have graduated from recognised universities.  This 2-year course consists of 4 semesters that deal with different subjects and topics, which help to develop a broader view of the BFSI sector. 

The online MBA BFSI course hones the student's skills, such as effective problem-solving skills, enhanced analytical skills, and improved strategic thinking. BFSI allows students to choose from diverse job roles in their careers. Being a highly demanded MBA specialisation, this course is offered by many top and renowned universities in the regular and online modes of education.

An online MBA in Banking, Financial Services and Insurance ( BFSI ) is a highly pursued course with additional benefits because of the online mode of delivery. One of the major advantages is the affordable fee structure, and the flexible study schedule is just the cherry on top.

Why Online MBA in BFSI?

The Online MBA in Banking, Financial Services, and Insurance (BFSI) is a smart choice for workers who want to do well in the fast-changing world of finance. This unique program goes beyond basic business education by giving students information specific to the BFSI sector. This MBA specialisation ensures that grads deeply understand the banking business by covering topics like banking operations, risk management, insurance principles, and strategic management. 

The online format is good for working people because it gives them flexibility without lowering the standard of education. Also, the focus on global views, integrating technology, and developing leadership skills helps grads get ready to work as leaders in the BFSI sector, manage international financial markets, and make the most of technological advances. So, the school helps people advance in their careers by giving them the skills and information they need to do well in the fast-paced and important fields of banking, financial services, and insurance. 

Who Should Pursue an Online MBA in BFSI?

The Online MBA in BFSI is designed for many workers who want to move up in the fast-paced financial industry. Whether you're a seasoned finance executive or a new college graduate who wants to work in BFSI, this program will give you the specific insights and strategic skills you need to be successful. However, below are some people who can pursue this MBA specialisation: 

  • Finance Professionals
  • Banking Executives
  • Insurance Specialists
  • Financial Analysts
  • Risk Managers
  • Recent Graduates with Finance Background
  • Professionals in Regulatory Compliance
  • Entrepreneurs in Financial Services
  • Career Changers with Financial Interest

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

The best time for each person to get an online MBA in Banking, Financial Services, and Insurance (BFSI) relies on their job goals and current situation. For new college graduates, instant enrollment after earning a bachelor's degree is a great way to get specific knowledge early in their career. After a few years of work experience, professionals already working in the BFSI sector who want to advance in their careers may carefully apply for the program. This method ensures that information is used and that people learn more about how complicated BFSI is. Whether you are just starting your job or want to move up, the Online MBA in BFSI will help you understand how to manage the changing financial world.

Key Highlights of Online MBA in Banking Financial Services and Insurance In India

  • Online MBA - Banking, Financial Services, and Insurance is a 2-year postgraduate course.
  • This is a UGC-DEB-approved course to be delivered in the online learning mode. 
  • Candidates who wish to apply for this course must have a Bachelor's degree.
  • This course offers intensive knowledge in the BFSI sector through subjects like insurance management, banking management, financial risk management, ALM, and treasury management. 
  • This postgraduate course consists of 4 semesters, with the last semester including a major project.
  • The Online MBA in Banking, Financial Services, and Insurance (BFSI) has a customised curriculum that covers strategic management, risk management, banking operations, and insurance principles. 
  • The online style of the school lets people improve their skills without taking time away from their jobs. It was created with working professionals in mind. This flexibility ensures that many workers can access it, promoting diversity in BFSI schooling.
  • The program examines international financial markets, legal frameworks, and how global economic trends affect BFSI. It does this by focusing on global views and preparing graduates for the complicated international financial environment.
  • The program includes the newest developments in financial technology (FinTech) and puts a lot of emphasis on leadership development. 

Online MBA in BFSI Course Syllabus

This course offers intensive knowledge to students with different subjects. Below are a few subjects that students will learn in their two years. 

General Insurance Management 

Bank Management and Financial Risk Management

Financial Statement Analysis and Business Evaluation

Principles and Practices of Insurance 

Financial Services

ALM and Treasury Management

Basel Regulations and Risk Management in Banking 

Life Insurance Management 

Top Specializations of Online MBA

MBA Online In Finance

MBA Online In Marketing

MBA Online In HR Management

MBA Online In Hospitality Management

MBA Online In IT Management

MBA Online Banking and Finance

MBA Online General Management

MBA Online Operations

MBA Online Business Analytics

MBA Online Healthcare

MBA Online International Business

MBA Online Project Management

MBA Online Financial Markets

MBA Online Retail Management

MBA Online Waste Management

MBA Online Hospital Administration

MBA Online International Trade Management

MBA Online Fintech

MBA Online Data Science

MBA Online International Finance

MBA Online HR Analytics

MBA Online Digital entrepreneurship

MBA Online Infrastructure Management

MBA Online Banking and Insurance

MBA Online International Marketing

MBA Online In Blockchain

MBA Online Quality Management

MBA Online Agribusiness

MBA Online Digital Marketing

MBA Online Business Management

MBA Online Power Management

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 Financial Services and Insurance Eligibility

To be eligible to apply to this online course, students need to meet certain basic criteria. The eligibility criteria for this MBA program in BFSI are minimal and basic. Some universities may have their specific additional requirements, but a few basic criteria to meet are: 

  • The candidate should be a graduate and have secured at least 45% to 55% aggregate marks in the qualifying examination.  
  • The candidate should have completed graduation from a recognised university. 
  • Some universities may consider the student's scores in management entrance exams like CAT. 

Duration of the Online MBA in BFSI

The Online MBA - Banking, Financial Services, and Insurance duration is 2 years. In this period of 2 years, there are 4 academic semesters. They are given a maximum period of 4 years to complete the course. This time lets you learn a lot about how banks work, how to handle risks, how insurance works, and how to be a strategic manager in the BFSI field. The program's organised schedule ensures that students fully understand the complexities of the financial services industry while giving working professionals the freedom to balance school with their jobs.

Skills Required for Online MBA in Banking Financial Services and Insurance

  • You must be good at analysing money, spotting market trends, and making decisions that will help you do well in insurance, banking, and financial services.
  • The ability to find, evaluate, and reduce financial risks so that BFSI activities are stable and reliable.
  • The ability to develop and carry out long-term plans to improve operations and ensure long-term success in the fast-paced BFSI sector.
  • Knowledge of financial rules and compliance standards is necessary for working with legal frameworks in the BFSI business.
  • You need to be able to talk to people clearly to explain complicated financial information, make agreements, and work with a wide range of people in the BFSI field. 

Is an Entrance Exam Conducted For an Online MBA in BFSI?

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 BFSI: 

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 Financial Services and Insurance Admission Procedure

This course has general admission criteria similar to those of most online universities. Mentioned below are the steps candidates need to follow: 

  • Go to the university's official website. 
  • Register as a new user with basic details.
  • The required details should be filled in correctly in the application form.
  • Upload documents like proof of identity, Aadhar card, photograph, Class 10 Marksheet, Class 12 marksheet, and Graduation Marksheet. 
  • Pay the registration/application fees.
  • After verification of the application, the university will inform the candidate about their admission status.  

Online MBA in BFSI Academic Fees 

The average academic fee for an online MBA - Banking, Financial Services, and Insurance ranges between INR 1,00,000 to INR 3,00,000. The fees may vary according to the university you choose. This all-inclusive fee system covers tuition, study tools, and access to online resources, ensuring students get a well-rounded education. Putting money into this program gives you access to specialised knowledge, strategic insights, and better job opportunities in the BFSI field. 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 BFSI?

Getting an education loan to pay for an Online MBA in Banking, Financial Services, and Insurance (BFSI) can be a smart move for your career. Often, these classes cost money; an education loan can help you pay for them. People can get money for fees, books, and other costs by taking out an education loan. This lets them focus on their studies without worrying about money right away. Also, these loans usually have good terms, like low-interest rates and flexible payment plans. 

Is an Online MBA in Banking, Financial Services, and Insurance Worth It?

Yes, workers who want to do well in the fast-paced finance world should invest in an Online MBA in Banking, Financial Services, and Insurance (BFSI). The program's unique coursework gives students a deep understanding of how banks work, how to handle risks, and how insurance works, giving them a complete picture of the BFSI sector. Working workers can improve their skills without taking time away from their jobs thanks to the freedom of online learning. With a focus on global views, integrating technology, and developing leaders, grads are well-equipped to handle the complicated world of international finance. 

This popular MBA specialisation helps people move up in their careers by giving them the tools they need to take on leadership roles, bring new ideas to BFSI businesses, and have a real effect on the financial industry. The school is even more valuable because it allows students to network, has a broad group of students, and lets them use financial technology. A Bachelor of Business Administration (MBA) in the BFSI field shows that you are dedicated to staying ahead in a world that is always changing. This makes it an excellent choice for people who want to do well in the banking, financial services, and insurance industries.

Job Opportunities After Online MBA in Banking Financial Services and Insurance 

Students taking MBA courses online can apply to several private and government job sectors in the banking and financial domain. Being a fast-evolving and expanding sector, there are vast job options and roles to explore in this field. Some of the diverse job roles students can apply for after completing their post-graduation in online MBA - Banking, Financial Services, and Insurance are: 

Bank Manager

Finance Officer

Insurance Advisor

Financial Consultant 

Investment Banker

Top Recruiters

Top employers actively look for graduates with an online MBA in banking, financial services, and insurance because they know the program is good at giving workers strategic insights. This talent pool is regularly hired by well-known financial institutions, banking giants, insurance companies, and consulting firms. This shows that the program is successful at preparing candidates for success in the BFSI industry.

Let's clear up some doubts about Online MBA in Banking Financial Services & Insurance-BFSI

The average fee for Online MBA Banking, Financial Services, and Insurance ranges between INR 1,00,000 to INR 2,50,000. This fee depends on the university you select for pursuing the course.

Students with an Online MBA Banking, Financial Services, and Insurance degree can work as Bank Manager, Finance Officer, Insurance Advisor, Financial Consultant, and investment Banker. Job options are available in both the government and private sectors.

The course has a duration of 2 years, divided into 4 semesters. The maximum course duration is 4 years.

Yes, UGC-DEB has approved an online MBA in the specialisation of Banking, Financial Services, Insurance (BFSI) as being a valid course to be delivered in the fully online mode. 

 

If you want to work in banking, an MBA in Banking, Financial Services, and Insurance (BFSI) is the best degree because it gives you specific information and skills for the financial field.

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