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Tag: finance courses

Marketing Management: How is it Applicable in New Age Banking and Finance?

Posted on by Imarticus Learning

New-age banking and finance is a new way of doing business that has emerged with the advent of the internet. New-age banking and finance are about providing loans or deposits and partnering with merchants to bring them through marketing activities.

Marketing Management course can be used in finance because it provides an integrated approach towards all aspects of marketing, such as generating leads by identifying target markets and segmenting them based on customer needs; developing strategies to promote products or services; creating awareness about product/service; executing promotional campaigns for visibility.

How is marketing management applicable in New Age Banking and Finance?

The new-age banking system considers all factors contributing to the development of the banking sector-whether political, economic, or social. In this context, marketing management is one key factor that can help banks design and implement their strategies to capture more market share from other players. The marketing strategy also includes customer relationship management (CRM), which allows you to understand your customers’ needs and serve them better with relevant offers.

Financial services marketing strategies for banks and financial institutions:

Customer Outreach

Customer outreach is one of the traditional marketing strategies for banks & financial institutions to adopt & it’s most effective. Customer outreach is simply the concept of reaching out to customers to fill existing needs surrounding education, awareness, and help. Customer Outreach works to build awareness, customer loyalty, and interest in products and services.

Self-Service and Digitization

Millennials & Generation Z often do everything themselves. Setting up & promoting digitized financial products & customer service/experience portals enable customers to sign up for services online, change products and services online, and view information without entering a branch. This is an effective & growing trend for financial organizations.

Social Media

Smart & consistent social media platforms are a valuable financial marketing strategy that cannot be ignored. Millennials & Generation Z use social media platforms to connect with brands, learn from peers, and follow current events and news. A steady presence on websites offers value to followers, builds brand trust, creates marketing opportunities, & grows the customer base.

Automation and Big Data

Most financial organizations carry bulk data, and before they know what to do with it, it rapidly changes. Customer experience platforms & automation tools make data utilization easier & apply it to the marketing strategy for financial services.

Digital Storytelling

Storytelling is one of the most effective marketing mediums, whether on social media, video, ads, or cross-channel platforms. All you need to do is encompass your marketing strategy telling a story that captures interest & evokes interest, excites, and moves your target group.

Grow with a Degree at Imarticus Learning:

Imarticus Learning offers masters-level banking and finance management program with assured placement to match up with the competition.

New age careers in banking and finance coursesThe program is for fresher graduates as well as professionals who want to explore new opportunities through learning.

The Post Graduate in New Age Banking is a comprehensive, 24-month unique combination of two industry-endorsed New Age Banking & Finance Management programs designed to upgrade existing careers in the Finance industry.

The programs have unique curriculums and parallel learning paths that make it ideal for professionals looking to upgrade their BFSI careers. The exceptional approach to professional education redefines industry knowledge & effectively compounds occupational abilities.

The course includes an overview of management with credits on management theories in Strategic Management, Financial Accounting, Business Law, Marketing, Communications, Information Systems, HR & more.

For further details on business analytics courses in India, contact us through the Live Chat Support system or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

Why a short professional program is better than an MBA?

Posted on by Imarticus Learning

By Reshma Krishnan
Over 50 percent of the students that come to Imarticus Learning and attend our FMVC, CIBOP, CIBIT programs are MBA students. During their counseling sessions as well as their interview prep and mock interviews, we always ask them what they learnt in their MBA and what made them attend Imarticus.

The answers are always the same – I learnt nothing in my MBA. Why is that? MBA’s are extremely popular, so why are they so futile? It’s not the MBA that is futile. The right MBA done at the right time and from the right school is useful, but the majority of MBA’s are not well designed. Here are our top reasons for why short professional programs are better than an MBA.

What is an MBA? An MBA is a multi disciplinary course of study that helps you understand the various facets of running a business, ergo the name, a master of business administration. An MBA assumes that you have come far enough in your career to put the theories you learn during the course– marketing, finance, and operations, into some sort of context. A context that cannot be built without some understanding of how a business functions.

MBA’s are useful but only to those who come in with 5-6 years of relevant work experience. Having already worked on a shop floor of a store or coded for a company, they do an MBA to understand the other facets, which they can then apply to their experience.

This is what generally happens abroad. In India however, the stress on academics and degrees mean that most people do an MBA right after college without any experience leading to a two-year course of study that adds no value, not even to the resume.

But then, you ask, how do we stand out against others during a job hunt? You stand out by doing a course that is tailor-made where the curriculum has been designed in conjunction with specialists and endorsed by companies. A short course does not expect you to have work experience and it’s sole purpose is to help you find a job, and it does that by training you specifically for a role which makes you more employable as you are able to add value to a company from day one.

1. Short professional programs are job-specific – all our programs have been designed by industry experts and tailor made to job requirements. For instance the CIBOP program is designed for Investment Banking Operations roles. For three months, you will be taught by domain specialists, who have worked in these roles giving you real life examples.

2. Professional programs are shorter – Because you spend only three months, you start working sooner and spend less time in the classroom and more time gaining valuable work experience that you can then use to apply to a more prestigious and useful MBA program

3. Short programs focus on getting you a job– our short programs are tailored to a job, which attracts companies because they know our candidates are job-ready.

Imarticus Learning offers the internationally-accredited CIBOP program, designed for careers in Investment Banking. This program provides you an in-depth understanding of complex financial products and their Trade Lifecycles, along with Operational Risk and Regulations.

Financial Markets And Their Roles

Posted on by Imarticus Learning

A financial market, unlike the other markets, is more of an intangible concept and basically refers to a marketplace where buyers and sellers usually participate in an exchange of assets such as equities, bonds, derivatives and currencies. The basic characteristic of any financial market comprises of transparent pricing, basic regulations regarding costs and fees and a number of market forces, that determine the prices of securities that trade. These financial markets can be found almost in every single country across the world, some of these may be small, with a very few numbers of participants, while some are huge in terms of the amount of money they trade, for example, the New York Stock Exchange.
It is basically investors, who have an access to a great number of financial markets and exchanges, that deal with a vast array of financial products. Some of these markets have always been open to private investors, while some have always remained, pretty much exclusive in terms of catering to major international banks and financial professionals. There are a variety of financial markets, which make up the field of finance.
Certification in Capital MarketsCapital Markets

These markets are where individuals and various organizations, deal with the trading of financial securities. There are a number of organizations and companies, that sell securities on these markets, in order to raise funds for themselves. This is why the capital markets consist of both primary as well as secondary markets. Any organization or corporation requires capital in order to finance its various operations, as well as to engage in long-term investments. In order to accomplish this, the corporation raises money through the sale of securities, basically bonds and stocks; all of which is in the name of the company.
Stock Markets

These are markets, which allow all of the investors to buy and sell the shares in publicly traded companies. They are popularly known to be the most vital area of a market economy, this is because they provide companies, with the access to capital and all the investors, with a chance to have a percentage of ownership in the company. This market is divided into primary markets as well as secondary markets.
Bond Markets
A bond refers to any debt investment in which, an investor loans money to an entity, this can be either corporate or governmental. This entity basically borrows the funds for a specific period of time Bonds are usually used by a number of companies, municipalities, states as well as governments, in order to finance a variety of projects and activities. This markets basically deals with buying and selling of bonds on the various credit markets, all over the world. This market is also referred to as the debt market or credit market or fixed-income market. The many types of bonds are corporate bonds, municipal bonds, notes and bills which are also known as treasuries and so on.
All of these markets require a financial professional, wither a corporate banker, investment bankers or portfolio manager and so on, to deal with their various aspects. The various attractive benefits that these markets offer are a result of a lot of finance aspirants seeking positions in the field of financial markets. Imarticus Learning is one of the best institute for finance and investment banking training and very much preferred by these professionals, in order to get a hang of how the markets work, through various certification courses in corporate finance, investment banking and so on.

Secure Your Finance & Analytics Careers With Imarticus!

Posted on by Imarticus Learning

With the growing commercial and technological advancements in the global markets today, Finance and Analytics are quickly becoming one of the most lucrative careers in the business world. Finance & Analytics play a major role in data evaluation for businesses to streamline decision-making processes.

They mainly inform the investment decisions of the companies by researching the microeconomic and macroeconomic situations with the organization’s principles. The professionals in these fields also prepare financial models that project future economic conditions.

Many businesses also hire them to evaluate the efficiency of their marketing techniques in comparison to the cost using numerical data. They also work in franchise-based businesses to track the individual franchise or a group and evaluate their positive and negative points to speculate the growth of the business.

Importance of Finance & Analytics

In this competitive world, businesses today need on-time data to formulate decisions for business. Every company needs good financial and analytics planning to utilize its resources in the best way possible.

Finance and Analytics Courses

The changing needs of businesses and the emergence of new models are making it crucial for companies to have sound Finance and Analytics professionals that help them improve their decision-making

Shape the business goals and plans for optimal performance. The Finance courses and Data Science Course with Placement help businesses to run efficiently and attain their aims fast.

Scope of Finance & Analytics

The careers in these fields are highly coved in the business industry with a good pay scale. The professionals in these fields have ample job opportunities in sectors like banks, pension, insurance companies, mutual funds, and securities firms, etc. Since they assist people in their financial decisions and investments, they can also open their own offices and work as self-employed.

They can also do accounts, auditing, taxes, and prepare financial statements. They can also specialize in other segments like Cost accountancy. The work scope of Finance and Analytics professionals also includes tasks like account management, secretarial work, share valuation, etc.

Job Opportunities

The wide scope of Finance & Analytics allows professionals to find employment in a range of sectors. They can find job roles under the following titles:

  • Financial Analyst
  • Chartered Account Trainee
  • Analyst – Back Office
  • Accounts Trainee
  • Assistant Consultant – Business Analyst
  • Junior Financial Analyst
  • Management Trainee – Finance
  • Research Analyst – Option Strategist

The pay range in these roles is also good. The average pay of a Financial Analyst in India is around INR 40,000. With experience, this number multiplies manifold.

Educational Requirements

To build a substantial career in these fields, one needs to have in-depth knowledge along with a good practical skill-set.

Fintech Online CoursesFor this, students can join vocational programs in Finance and Analytics from reputed institutions. Imarticus is one such renowned organization that is offering courses in these subjects to train students and make them job-ready for the business world. By learning these courses students get:

  • Guaranteed job interviews
  • Comprehensive, industry-approved curriculums
  • Hands-on, experiential learning with cutting-edge technology
  • Training by industry experts and veterans
  • Extensive career support and assistance
  • Certifications accredited by world-class organizations
  • … And so much more!

Learning with Imarticus

Imarticus Learning is organizing the ‘Great Indian Futuristic Talent Drive’ offering good discounts on its various courses for the festive season from 21st October – 27th October 2020. You can avail of the following discounts by registering in the drive:

Finance and Analytics online coursesFee Waiver on PG Classroom Programs – Up to 25% off

Fee Waiver on Online ProDegrees – Flat 20%

Fee Waiver on Classroom CIBOP & ProDegrees – Flat 15%

With the online learning mode of Imarticus, you get the facility to learn at home.

Thus, keeping safe during the pandemic and productively using your spare time to upskill yourself for an excellent career.

Register today and make your learning fun & affordable!

What Skills Are Required To Be A Relationship Manager?

Posted on by Imarticus Learning

The Profile of a Relationship Manager

The job of a Relationship Manager is a mix of desk work and field work. The profile is unique and absolutely well defined, because of which growth prospects are very high in this field. The profile of a relationship Manager may vary from bank to bank, but there are some common profiles.

Acquisition manager is the one who generates business for the bank. Getting the clients through hard fieldwork is one of the key responsibilities of the Acquisition manager.

Banking TrainingService Relationship manager on the other hand enjoys the desk job and plays the key role as a client problem resolver along with selling of bank’s products and services.

The Relationship Manager is the care taker of the bank administration. They lead the team of direct sales associates (DSA). From training the team members, making the task teams to the association of DSAs with the customers are the key responsibilities of a Relationship manager.  To ensure the topnotch services of a bank, relationship manager makes every possible effort to satisfy the customers.

Why Relationship Managers are important for the Banks?

Banking TrainingThe major role of a RM is to develop a strong bond between the customer and the bank, hence they play a key role in bringing and surviving the business to the bank. The expansion of banking training will result in the expansion of roles of the relationship managers.

Key skills required to be a Relationship Manager

With the increase in the requirement for the relationship managers, there will be a significant rise in the competition. Employers in near future will prefer the people with the specialized skills.

The specific skill sets required to be a Relationship manager are:

 Administrative Skills/Strategizing

As the role of the RMs lies in team building and task assignment, the data management skills and other administrative skills helps the manager to be effective in his/her role.

 Verbal and Non-Verbal Communication skills

Team building is the key role of a relationship manager. Setting up proper instructions and understanding of communication flow and leakage always helps relationship managers to manage the large teams. Developing the strategies and demonstrating the same to the top management requires good command over the communication skills of a RM.

 Interpersonal skills

A person with extreme level of patience can perform this job effectively. Dealing with the varied customer base, with varied service expectations require a good command over the interpersonal skills.

Hearing out the customers and satisfying them with requisite solutions may bring many loyal customers. This can be achieved by a person who give immense importance to the interpersonal skills. Physically and emotionally sound people are well suited for the job of a RM.

Product understanding

A RM must have sound understanding of the products to be sold in the market. Making the team of DBAs understand the products and training them to be ready for each and every question that customer may ask is a must have skill for every RM.

Networking

One loyal customer will bring many more customers to the business. A RM not only brings customers to the bank, instead convert them into loyal customers and try to covert the references of the loyal customers into future customers. Hence, networking is the must have skills for the RMs.

Qualification

Qualification to be a RM vary from bank to bank. Some banks hire MBA graduates only for this post, whereas some banks promote the executive level people to this position.

Covid-19 Impact on Banking Training! How Imarticus Helped The Students To Get Trained and Placed?

Posted on by Imarticus Learning

The banking industry in the COVID-19 landscape  

The Coronavirus pandemic has brought almost all economic activities to a standstill. To protect human life from this deadly virus spreading like a wildfire, governments around the globe imposed lockdowns in their respective nations. This pandemic has defined a state of new normal for all of mankind.

Customer behaviour has also changed owing to this pandemic. Some of the positive changes that came along with the state of lockdown are the increase in online shopping, online payments, digital banking, online education, etc. These industries were already growing but the current pandemic scenario has given it a massive push.

Coronavirus outbreak has disrupted businesses in almost every industry, it also had a direct impact on the functioning of the banking and finance industry in addition to the indirect ones that came in the form of economic slowdown and reduced business activity. This economic slowdown has led to a reduction in consumer demand that has impacted small and medium businesses majorly. To stay cash flow positive and manage their operations, these businesses have to rely on financial aid provided by banks and financial institutions.

The Coronavirus pandemic has drastically impacted business across the majority of industries and has left a dent in the economies but it has also boosted the growth prospects for business in the digital landscape. People are staying inside their homes and are afraid to go out and shop, this has created a huge demand for online shopping and e-commerce companies are benefitting from this like never before. Everything you need can be ordered online using your smartphones by making payment through your digital wallet or other banking services.

Now the interesting thing to note about this growing trend is that it has also boosted the prospects for the banking and financial services industry. It has given a major push to digital banking services and people are getting more accustomed to making financial transactions online using their smartphones. This has created a demand for qualified professionals in the banking and financial services industry. This employment opportunity has also increased competition among candidates.

Wealth management course can help you provide a comprehensive understanding of the banking and finance industry. It is very beneficial for those look to excel in commercial banking related roles, it will help you obtain an edge over your competition by imparting you with relevant knowledge and skills needed in the industry. Commercial banking training has seen a surge in demand in the contemporary COVID-19 scenario as there is a huge demand for professionals in the commercial banking industry to cater to the growing needs of the customer.

This has happened because we are moving towards a cashless economy and more people are transacting using progressive services such as a digital wallet. This has reduced the dependency for cash transactions and has resulted in more number of banking transactions. The fear of the spread of Coronavirus has also added to this changing customer behaviour, to be safe from the risk of contamination, people are relying on using the digital medium to purchase everything.

 Bridging the gap with Imarticus

Banking is an essential service for businesses and individuals alike; our dependency on money is such that we can’t survive without the services of the banking sector. Even during the times of Coronavirus, we need banking services. The demand for professionals in the banking and related sector is still on the rise even when most other businesses continue to fail.

Wealth Management coursesImarticus Learning’s banking and wealth management courses have helped people to learn about this industry and obtain a thorough understanding of the functioning of this sector.

The courses are focused on providing a practical understanding of the subject so that the candidates are trained to do the job even without any additional assistance from the organisations. This has also reduced the training cost for organisations that rely on the services provided by Imarticus. Imarticus has helped over 8000 professionals to get placed with some of the most reputed organisations in the industry including Deutsche Bank, Citi Bank, Axis Bank, Kotak Mahindra, Reliance Capital, etc. The courses are specifically created to help with your employment prospects. Wealth management course with Imarticus will definitely help you achieve your career goals.

What are The Short Term Professional Courses After Graduation in Finance?

Posted on by Imarticus Learning

Many freshly graduated aspirants are found to be in quite a dilemma these days. This is mainly because of the fact that the world is becoming quite a competitive space. Mainly because of the fact that there is a forked road, which lies ahead of them and the only factors of motivation could be making money or accomplishing something worth note. Propelled by the former, many candidates opt to rather go out in the industry and directly apply for jobs. The smart few, make the well-thought decision of refining their resume and adding a renowned certification to it.
Many decide to take the less traveled road by opting for diploma courses or other kinds of short term courses, which bring them closer to their dream job. One can opt for Finance Courses and banking, or business management, or financial management and so on.
So for all of those smart ones and in order to encourage many more candidates to make smart decisions, we have compiled together a list of short term professional courses, which a candidate can opt for once they graduate. These courses and their certifications most often than not help candidates in actually getting their dream job.

  • Accounting Courses

The Chartered Accountancy courses which came in to being courtesy the Chartered Accountancy Act, 1949, have been quite popular since their inception. The courses offered for the purpose of training a candidate to become a Chartered Accountant consist of a combination of theory and of practical training which will help the student professionally in the future. Doing these courses will allow a candidate to experience the most rewarding of careers in the fields of consultancy, audit practices, investment banking, information technology and so on.

  • Certification Courses

A candidate looking to get their resume fine-tuned can always opt for short term courses, which provide globally recognized certificates apart from being short duration and extremely student oriented. There are courses of certification in Investment and Banking Operations which are absolutely ideal for careers in both Investment Banking and Global Markets, then there are courses which involve candidates in learning how to go about in terms of wealth management, banking, portfolio management as well as financial analysis. All of these certification courses are offered by professional training institutes which ensure that the candidate is trained in keeping with the industry standards.

  • Other Courses

While the above mentioned two are supposedly the major two branches when it comes to courses offered for the training of a finance aspirant. Apart from these two, there are also various courses offered for those aspiring to be Cost Accountants, Company Secretaries, and Actuaries and so on. There are also specialized financial courses available these days, which are basically like the professional courses which are offered mainly for those candidates who are looking to get trained professionally in order to get proper training for the same.
There are numerous classes and institutes which offer training for various courses which result in one becoming a Financial Analyst or a Chartered Financial Analyst, Certified Financial Planner or just courses which teach subjects like economics, statistics and so on.

Best Short Term Finance Courses After Graduation

Posted on by Imarticus Learning

Best Short Term Finance Courses After Graduation

In today’s competitive world, merely being a graduate or a post graduate is not an impetus enough to begin your career in Finance. One has to acquire more than just the customary degree, to gain a competitive edge over others, further focused and specialised courses are compulsory.
Out of the array of courses available, you have to be very clear on your objective of taking up a course, also one has to consider if the said course if relevant. What worked in the times of your parents might not have the same value today? Or what your elder sibling did a few years ago might be redundant in the next few years. Financial capability and availability of time should also be a deciding factor.
There are many short term courses in finance. Like explained above there cannot be a ‘best course’, it is a relative term, you need to finalize basis what suits you the best.
There are many short term finance courses in India. Which usually relate to, Personal Finance, Corporate Finance, International Trade Finance, then there are courses in Financial Management, the object of such specialized courses is that delegates know how Finances, Investments and the Economy can affect an individual or an organisation.

Certain short term courses in personal finance can be pursued intermediately or after graduation. The courses in ‘Personal Finance’ are focused on managing individual finances.
Financial Risk  Manager & Certified Financial Planner, are both courses which are highly revered in the finance industry. And also accepted globally. If planned appropriately, doing these short term and spanned financial courses, can easily give you an edge over others and help you not only acquire a relevant job but elevate the professional ladder as well.
Under the umbrella of ‘Corporate Finance’, one can choose short term finance courses between, Banking, Analytical, Financial Modelling, and Financial Management Courses. These courses essentially deal with managing the finances of a corporate or a business.
JAIIB & CAIIB programs from IIBF, PGDBO – Post Graduate Diploma in Banking Operations, are certain short term finance courses to consider.
Chartered Financial Analyst Program is a holistic program one can enroll if they want to take their career ahead in the field of analytics in finance. The program enables participants to be experts in Financial Analysis, Equity Research etc…, This is particularly preferred qualification for finance and investment professions. Also, there is a great demand of CFA charter in corporate finance.
Most of the courses can be planned and taken as a staggered approach.
Some additional short term financial courses that can be considered post-graduation are,
Financial Modelling courses, this will give you an added advantage to the existing skill sets and widen your recruitment opportunities.
Global Finance and Accounting Program offers practical global accounting knowledge and creates skills to get career opportunities in finance and accounting.
So once again, reiterating on the fact, that clarity in though and a set objective from the short term finance course, based on your personal needs and limitations should be set. The courses mentioned above may be short but are specific enough to help you secure a relevant good paying job on completion.

Blockchain: The Possible Answer to Trade Finance Modernization

Posted on by Imarticus Learning

Recently, a study was conducted by the capital financial technology giant, C2FO, regarding European treasures. Herein, it was found that 75% of these treasurers are supposedly focussing on investing in trade finance technology, in the following year of 2017.
Colin Sharp, who holds the position of senior vice-president, EMEA at C2FO, is of the opinion that the shifts within the microeconomic environment, are resulting in the pressuring of corporates, in order to refocus their efforts to trade finance. He further goes ahead to say, “Treasurers are facing a lot of uncertainty, both from the United States of America and as result of the on goings around Brexit. This is putting immense pressure over the supply chain, and with the demand increasing and decreasing. Treasurers want the ability to use their assets to make returns and give some certainty.”
There have been more and more efforts, which are offering insight into, finding out how blockchain can supposedly be used, in order to benefit small as well as medium size ventures. Any said digital trade chain, supposedly wants to achieve a perfect balance, between identification of opportunities and connecting them with each other and their banking partners. This would be made even simpler, when banks would bring in their own client bases herein, thus eliminating rigorous on-boarding.
Anne Claire Gorge, who holds the position of the head of the product management department, trade services, and finance of Societe Generale, is of the opinion that, treasurers believe that more control over trade finances, can help them greatly in the other areas of business. She says, “Better use of trade finance helps theses treasurers, to have a greater overview of their working capital positions. Offering financial solutions to suppliers, for instance, in order to improve the terms of payments, helps greatly in guaranteeing cash flow.” She is of the firm thought that the deployment of latest technology will definitely end up simplifying the process. In her words, “Trade happens to be very heavy on letters of credit or invoicing solutions, making it complicated to finance receivables and payables. Doing all this, as a part of a digital solution, has great potential of making it easier”.
trade finance marketThe experts believe that a little rocking, cannot cause any harm to the ship, in financial jargon, they are basically hinting at the climate of uncertainty. Especially when it comes to Banks, a little uncertainty does not seem to be a negative thing. This actually makes for a rather encouraging temperature for the requirement of trade finance tools, in order to offer stronger guarantees. The solution for the entire thing can finally come from block chain, is the combined belief of all the trade finance gurus. But for this concept to see the light of the day, there needs to be a rigorous industry wide effort, in the direction of implementation.
As many changes take place, in order to develop and strengthen the field of Trade Finance, the number of aspirants herein also multiplies. This is why professional training institutes like Imarticus Learning seem to be getting popular by the day.

Industry Report: Investments and Developments Part – II

Posted on by Imarticus Learning

[Read Part 1]
This report analysis would be mainly dealing with all the key investments and developments in Indian banking sector.
Starting from the basic, central level, the RBL Bank Limited, a private sector bank in India, has reportedly raised about Rs. 330 crore as a result of their association with CDC Group Plc. This is a UK based financial development institution and will be helping the RBL bank, to strengthen their capital base, in order to meet their future needs.
The World Bank has reportedly signed an agreement with The State Bank of India, which is worth Rs. 4200 crore. This agreement basically deals with connecting all the solar rooftop projects in India, which are also known as GRPV, and will be receiving financing as a part of this agreement.
JP Morgan Chase, which is considered to be the largest bank in America, has been in talks of expanding their operations in India. They have gotten a head start on the same, with three new branches in, Delhi, Bangalore and Chennai which will be an addition to the current branch in Mumbai.
An investment management company, known as the Canada Pension Plan, has reportedly bought a large stake, which it bought away from a Japan based, banking corporation called Sumitro Mitsui. These said stakes were in Kotak Mahindra Bank Ltd.
India’s very first small finance bank, began its operations by launching about ten branches in the state of Punjab. The Capital Small Finance Bank as it is officially known aims at increasing the number of its branches to about twenty nine, in the current financial year of 2016-17.
Taking a step towards making India, as cashless economy, an e-wallet company, Freecharge, has partnered with Yes Bank and Mastercard. This partnership is in order to launch a new concept of Freecharge Go. This would be a virtual card, with the help of which consumers can pay for goods and services, at online shops as well as offline retailers.
This year, the economy of India would be majorly targeting at being self-sufficient and in the lieu of the same, te government of Andhra Pradesh has signed a Memorandum of Understanding (MoU) with Exim Bank of India, in order to promote exports within this state.
Moody’s, a Global Rating Agency, seems to have upgraded its outlook towards the Indian Banking System. This move is to stabilize its negative based on the assessments of about five drivers, which include improvement in operating environment, stable asset risk and capital scenario.
Rockefeller Foundation, a non-profit organization based out of America, has backed a private Equity Investor known as Lok Capital. This investor has a plan of investing up to USD 15 million in a couple of proposed small finance banks in India, over the period of next year.
The RBI, has reportedly given in principal approval, to about 11 applications, which were in favour of establishing payment banks. These banks may accept deposits, but they are to refrain from extending any loans.
With the chances of the economy and the cash inflow looking bright, the banking and investment industry shows great promise for aspirants.