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Banking and Insurance

How to decide on a career after 10th grade?

The right choice of career depends upon one’s skills, capabilities and shrewdness. Choosing the right major or stream for your 10+2 depends primarily on what subjects you liked in your 10th and also on what you aspire to become in the future.

What does the Banking and Insurance Sector deal with ?

Banking and Insurance involves dealings relating to financial products and services, banking operations, monetary auditing, etc.

What are the skills/capabilities one should withhold in order to go into Banking and Insurance?

i) Good communication skills.

ii) Basic know-how about the industry.

iii) Good persusuation capability and know how to deal with customers.

iv) Specialization in a certain field of the sector.

Which stream should I choose after 10th to pursue a career in banking and insurance?

One can choose either Science or Commerce stream in 10+2. Taking commerce would be more beneficial as it would give an insight on the topics related to the career.

Which is the course for Banking and Insurance after 12th?

After completion of 12th with a minimum aggregate marks of 50% one can go on to take B.Com in Banking and Insurance as an undergraduate degree.

What is the eligibility for Banking Exam?

i) Age : Minimum of 21 years

ii) Education Qualification: Degree from any recognized institution with minimum aggregate score of 60%

iii) Both Male and Females can apply for the examination.

Is there any entrance exam after 12th for Banking and Insurance?

Institutions mostly take admissions based on the candidates score in their 10+2 but some institutions may hold their own institutional level entrance exam which the individual must take.

Are there any other entrance exams one can give while pursuing BBI(Bachelors in Banking and Insurance)?

Yes, one can surely give another entrance exam whilst pursuing BBI to add on to their education qualification. The most common entrance exams given are that of CA, ACCA, CMA, etc.

What exam should one give after completion of undergraduation to get a job in the banking sector?

To get into the banking sector one must give the Banking Exam (IBPS, SBI, RBI).

What are eligibility criteria for IBPS examination for Banking?

i) Age Limit : 20-30 years

ii) Minimum education qualification required in a Graduation degree or any other equivalent qualification in any stream from a University recognised by the government or any institution under the Central Government.

iii) while filling out the application form the score must be mentioned in percentage form so if the candidate’s score is in CGPA/OGPA they must convert it into percentage.

Can I give the IBPS examination for Banking if I am an Engineering student?

Yes, you most definitely can. Any individual with a Graduation degree in any stream can give the IBPS examination.

Is the eligibility criteria for IBPS and SBI examination for Banking different?

Yes, they are. The eligibility criteria is almost similar except for the age limit of giving SBI which is 21-30 years and students in their Final Year/Semester of college can appear for the SBI examination unlike IBPS examination.

What is the syllabus for the banking exam?

The banking exam tests you on the following topics:

i) English Language

ii) Data Interpretation and Analysis

iii) Reasoning Ability

iv) General Awareness

v) Computer Aptitude

What are the different course subjects in Banking and Insurance?

i) Accounting for Insurance and Banking

ii) Fire and Motor Insurance

iii) Legal Framework of Insurance

iv) Marketing Management & Research

v) Practice of General Insurance

vi) Financial and Treasury Management

vii) Law & Practice of Banking in India

viii) Management of Financial Services and Markets

ix) Monetary Theory and Central Banking

x) Principles of Application of Life Insurance

xi) Principal and Practice of Commerce Banking in India

xii) Risk Management

What is the exam pattern for the banking exam?

i) There are three stages - Preliminary, Main and Interview round.

ii) Duration for preliminary round in 1.5 hours and is online.

iii) Duration for main exam is 3.5 hours and is both online as well as offline.

What is the exam pattern for the preliminary round of Banking Exam?

i) Duration - 1.5 hours

ii) MCQ based questions

iii) Each question carries 1 mark and for every wrong answer 0.5 marks will be deducted.

iv) There are three sections - English Language, Quantitative Aptitude and Logical Reasoning.

What is the exam pattern for the main exam of Banking Examination?

i) Total duration of the exam is 3.5 hours. 3hours for the main exam and 30 mins for the descriptive part of the examination.

ii) There are a total of 155 MCQs and 2 descriptive questions(Letter writing  and Essay writing)

iii) Each question carries 1 mark and for every wrong answer 0.5 marks will be deducted.

What is the cut-off for the banking examination?

One must score a minimum of 40% aggregate in the examination.

What are the selection criteria for jobs in the banking sector?

Jobs in the Banking sector mostly depend upon the academic achievements of the individual as well as their performance in the Banking exam. Different banks in different sectors have their own respective selection procedure.

What are the top colleges for Banking and Insurance?

i) Sir Padampat Singhania University, Udaipur

ii) Chandigarh University, Chandigarh

iii) Manav Rachna International University, Faridabad

iv) University of Technology and Management, Shillong

v) Sandip University, Nasik

vi) International College of Financial Planning, Delhi

vii) International Institute of Business Studies, Banglore

viii) Manipal University, Manipal

ix) ITM University, Gwalior

x) Thadomal Shahani Center of Management, Mumbai

What are the fees for Banking Exam?

Application fees for banking exam for general category is Rs.600 and for SC/ST is Rs. 100.

What are the different job posts available in Banking and Insurance?

i) Accountant

ii) Cashier

iii) Insurance Manager

iv) Loan Counsellor

v) Financial Advisor

What is the growth in the banking sector?

There is a growth of 8.5% as of now in the banking sector.