CHAPTER 1

INTRODUCTION

Banking, Financial services and Insurance (BFSI) is an industry term for companies that
provide a range of such financial products/services such as universal banks. BFSI usually
comprises commercial banks, insurance companies, non-banking financial companies,
cooperatives, pensions funds, mutual funds and other smaller financial entities. Banking may
include core banking, retail, private, corporate, investment, cards etc. Insurance covers both life
(Living) and non-life (Non Living).

A bank is a financial institution that provides banking and other financial services to their
customers. A bank is generally understood as an institution which provides fundamental
banking services such as accepting deposits and providing loans. There are also non-banking
institutions that provide certain banking services without meeting the legal definition of a bank.
Banks are a subset of the financial services industry.

Figure 1: The Indian BFSI Sector

Banking

Mutual
Fund BFSI Insurance

NBFC

A banking system also referred as a system provided by the bank which offers cash
management services for customers, reporting the transactions of their accounts and portfolios,
throughout the day. The banking system in India should not only be hassle free but it should be
able to meet the new challenges posed by the technology and any other external and internal
factors. For the past three decades, Indias banking system has several outstanding

1
achievements to its credit. Banks are the main participants of the financial system in India. The
Banking sector offers several facilities and opportunities to their customers.

1.1 BANKING
Currently, India has 151 scheduled commercial banks out of which 26 are public sector banks,
20 are private banks and 43 are foreign banks&61 Regional Rural Banks which is mentioned in
figure 2.
Figure 2: The Indian Financial System A Snapshot

Scheduled Banks are scheduled & fully control by RBI, but unscheduled banks are unscheduled
& not fully controlled by RBI. Scheduled banks at least have 400 crore paid up taka capital
while unscheduled bank have generally less amount than scheduled banks.
1.1.1 Need of the Banks

Before the establishment of banks, the financial activities were handled by money lenders and
individuals. At that time the interest rates were very high. Again there were no security of
public savings and no uniformity regarding loans. So as to overcome such problems the
organized banking sector was established, which was fully regulated by the government. The
organized banking sector works within the financial system to provide loans, accept deposits
and provide other services to their customers. The following functions of the bank explain the
need of the bank and its importance:
To provide the security to the savings of customers.
To control the supply of money and credit.
To encourage public confidence in the working of the financial system, increase savings
speedily and efficiently.
To avoid focus of financial powers in the hands of a few individuals and institutions.

2
 To set equal norms and conditions (i.e. rate of interest, period of lending etc) to all types
of customers.

1.2 INSURANCE
The insurance industry in India has come a long way since the time when businesses were
tightly regulated and concentrated in the hands of a few public sector insurers. Insurance
Regulatory and Development Authority of India (IRDAI) is an autonomous apex statutory body
which regulates and develops the insurance industry in India. India abandoned public sector
exclusivity in the insurance industry in favour of market-driven competition. This shift has
brought about major changes to the industry. The inauguration of a new era of insurance
development has seen the entry of international insurers, the proliferation of innovative
products and distribution channels, and the raising of supervisory standards.

Figure 3: Classification of Insurance in India

Insurance is a contract between two parties where one promises to indemnify any
financial loss that may be suffered by the later in consideration for an amount received by way
of Premium. This industry has so far not performed up to the potential as compared to the
developed nations. Any scheduled commercial bank can sell Insurance products, subject to
getting prior approval from RBI as

An Agent for a fee without risk participation

3
 Can set up a joint venture with risk participation after fulfilling eligibility criteria.

Insurance has two sub-segments, life insurance and non-life insurance. Total premium collected
by the insurance segment for all the life and non-life insurance policies has grown at a CAGR
of 24.27% over the period 2002 to 2008. LIC is the largest player in the life insurance segment
contributing to 74.39% to the total life insurance premium collected.

1.3 NON BANKING FINANCIAL COMPANIES

Non-bank financial companies (NBFCs) are financial institutions that provide banking services
without meeting the legal definition of a bank, i.e. one that does not hold a banking license.
These institutions typically are restricted from taking deposits from the public depending on the
jurisdiction. Nonetheless, operations of these institutions are often still covered under a
country's banking regulations.

Some of the major NBFCs in India are listed below:

HDFC, LIC Housing, Reliance Capital, Sundaram Finance, Mahindra Finance,
Cholamandalam DBS, Bajaj Auto Finance, Shriram Transport Finance.

1.4 MUTUAL FUNDS

A mutual fund is a professionally managed investment fund that pools money from many
investors to purchase securities. While there is no legal definition of the term "mutual fund", it
is most commonly applied to so call open end investment companies, which are collective
investment vehicles that are regulated and sold to the general public on a daily basis.

4
 CHAPTER 2
OBJECTIVES

The objective of the project is:

The study of Banking & Financial Sector in Semi Urban region.
To identify the gap between skills required and skills possessed by employees of BFSI
sector.
To identify skill requirements for employees of Banking & Insurance in semi urban
region.

2.1 SCOPE OF THE STUDY

5
The overarching aim of the research project was to examine the skill requirements for
employees in Semi Urban region. The study would highlight the comparative position of
Banking & Financial Services Sector in Semi Urban region. If any company operates for urban
regions, so there is a scope for the organisation to expand its business by entering into the semi
urban areas. Scope of the study includes State Bank Of India, HDFC Bank, Axis Bank, Bank
of Maharashtra, and IDBI bank etc. Scope of the study excludes HSBC Bank, Kotak Securities,
ICICI Bank, Canera Bank etc.

2.2 LIMITATIONS OF THE STUDY

This study is limited to the Training oriented company.

All data collected are generally limited by the method adopted.
The method of data collection being a questionnaire, data is limited to the extent of data
generation available through the method.
The busy schedule of Managers and Employees is also a limitation.

CHAPTER 3
RESEARCH METHODOLOGY

It is a way to systematically solve the research problem. The research

methodology is a science of collecting, identifying & presenting facts in such a way that it leads
to unearthing some truths or angles of reality. Research in common parlance refers to search for
knowledge. In fact research is an art of scientific investigation. Research Methodology is a
science of collecting, identifying & presenting facts in such a way that it leads to unearthing
some truths or angles of reality. The research methodology using for find out the solution of the
research problem is analytical research methodology and some extend descriptive research
methodology.

6
 New private sector banks and foreign banks as compared to public sector banks
provide many new products and services. Research design the study is confined to Indian
Banking Industry. Hence, the universe of the study is banking industry of India. The
performance is analyzed on bank, bank group and industry level. Four bank groups and further
four banks from each bank group have been selected for the study. The study is descriptive and
empirical in nature where secondary and primary data is used to address the objectives.

Period of coverage:
The study has undertaken for a period of 2 months.

3.1 TYPE OF RESEARCH

The topic for the research study is to identify skill requirements for employees of BFSI sector is
theoretical and descriptive. So conduct research study the type of research suitable is
descriptive research only. The data are collected from employees performing in BFSI sector.
The descriptive research has met the requirement of research study.

3.2 SAMPLING
The sample size is 200. For this study I have selected 5 Commercial Banks (SBI, HDFC, ICICI,
AXIS, Bank of Maharashtra, IDBI) and 3 Insurance Companies.(HDFC, ICICI, SBI).

SAMPLING METHOD:
Random Sampling:
Random sampling is method for selecting the survey of participants. In this each unit of
the population has equal chance of being included in the sample. This method implies that if
N is the size of the population and n units are to be drawn in the sample, then sample should
be taken in such a way i.e. NCn .
Each element in the population equal chance of being included in the sample and all
choices are independent of each other.
Possible sample combination an equal chance of being chosen.

7
 3.3 DATA COLLECTION TECHNIQUE
1) Primary Data:

Questionnaire:

The data collection tool used for the research is Questionnaires to get the primary data
for the study of banking & financial services. The Questionnaire which is attached in the
next page consists of a number of questions printed in a definite order on a form which
the respondents read.

2) Secondary Data:

i) Documents & Records

Consists of examining existing data in the form of databases, meeting minutes, reports,
attendance logs, financial records, newsletters, etc.

This can be an inexpensive way to gather information, but may be an incomplete data
source.

ii) Websites

The use of websites for understanding of Banking & Financial Services Sector. Also
help for skill requirements in Banking & Insurance.

CHAPTER 4
INDUSTRY / SECTOR PROFILE

4.1 MARKET SIZE OF BFSI

Total outstanding credit by scheduled commercial banks of India stood at US$ 1.06 trillion!
(70716575000000.00 Indian Rupee)The Association of Mutual Funds in India (AMFI) data

8
show that assets of the mutual fund industry have reached a size of Rs 12.62 trillion (US$ 185
billion, 12342043750000.00 Indian Rupee). During April 2015 to February 2016 period, the life
insurance industry recorded a new premium income of Rs 1.072 trillion (US$ 15.75 billion),
indicating a growth rate of 18.3 per cent. The general insurance industry recorded a 14.1 per
cent growth in Gross Direct Premium underwritten in FY2016 up to the month of February
2016 at Rs 864.2 billion (US$ 12.7 billion).

Indias life insurance sector is the biggest in the world with about 360 million policies, which
are expected to increase at a Compounded Annual Growth Rate (CAGR) of 12-15 per cent over
the next five years. The insurance industry is planning to hike penetration levels to five per cent
by 2020, and could top the US$ 1 trillion mark in the next seven years. The total market size of
India's insurance sector is projected to touch US$ 350-400 billion by 2020.

India is the fifteenth largest insurance market in the world in terms of premium volume, and has
the potential to grow exponentially in the coming years. Life insurance penetration in India is
just 3.9 per cent of GDP, more than doubled from 2000. A fast growing economy, rising income
levels and improving life expectancy rates are some of the many favourable factors that are
likely to boost growth in the sector in the coming years. Investment corpus in Indias pension
sector is expected to cross US$ 1 trillion by 2025, following the passage of the Pension Fund
Regulatory and Development Authority (PFRDA) Act 2013.

9
 4.2 GROWTH IN THE INDUSTRY

FY16 will bring good tidings. Growth across the sector globally, in India, public and private
sector will be positive. One of the areas, the biggest growth will happen is the lending area. If
you consider investments and securities the growth is positive, though the numbers are different
for different geographies, says Mahesh Makhija, partner-Advisory, Financial Services, EY.

With the potential to become the fifth largest banking industry in the world by 2020 and third
largest by 2025 according to KPMG-CII report, Indias banking and financial sector is
expanding rapidly. The Indian Banking industry is currently worth Rs. 81 trillion (US $ 1.31
trillion) and banks are now utilizing the latest technologies like internet and mobile devices to
carry out transactions and communicate with the masses.

56 of Indias domestic banks account for 95% of assets. In terms of net profit, in 2005, the State
Bank of India was the main bank followed by ICICI bank, Punjab National bank and Canara
Banks of 2010, in terms of net profit, the State Bank of India was the biggest bank followed by
ICICI bank, HDFC bank and Axis Bank. The growth of financial sector in India at present is
nearly 8.5% per year. The rise in the growth rate suggests the growth of the economy. The
financial policies and the monetary policies are able to sustain a stable growth rate.

The financial sector in India had an overall growth of 15%, which has exhibited stability over
the last few years although several other markets across the Asian region were going through
turmoil. The development of the system pertaining to the financial sector was the key to the
growth of the same. With the opening of the financial market variety of products and services
were introduced to suit the need of the customer.

10
 CHAPTER 5

DATA ANALYSIS & INTERPRETATION

1) On what level decisions are taken in bank/financial institution?

Table 1:

Attributes No. of Respondents Percentage

Managerial 135 67.5

Regional 30 15

Local 15 7.5

National 20 10

Total 200 100

Graph 1:

11
 80

70 67.5

60

50

40

30

20 15
10
10 7.5

0
Managerial Regional Local National

Analysis & Interpretation:

From the above 67.5 % employees think that decisions are to be taken at
managerial level while 15 % employees think that decisions are taken at regional level,
7.5 % employees think that decisions are to be taken at local level & 10 % employees
think that decisions are to be taken at national level.

2) Which department are you currently handling?

Table 2:

Departments No. of Respondents Percentage

Sales 51 25.5

IT Department 54 27

Risk Management 36 18

Operations 59 29.5

Total 200 100

12
Graph 2:

Operations 29.5

Risk Management 18

IT Department 27

S ales 25.5

0 5 10 15 20 25 30 35

Analysis & Interpretation:

From the above 25.5 % employees handles sales department, 27 % employee

handles IT department, 18 % employee handles risk management department and 29.5 %
employee handles operations department of BFSI sector in semi urban region.

3) Is there any role specific training given to the employees?

Table 3:

Attributes No. of Respondents Percentage

13
 Yes 139 69.5

No 61 30.5

Total 200 100

Graph 3:

30.5

69.5

Yes No

Analysis & Interpretation:

From the above 69.5 % employees think that bank/financial institution provide
role specific training while 30.5 % employees think that bank/financial institution does
not provide role specific training. Therefore Training oriented companies must focus on
role specific training.

14
 4) How often is the training conducted?

Table 4:

Attributes No. of Respondents Percentage

Once in a year 10 5

Twice in a year 41 20.5

Thrice in a year 49 24.5

More 100 50

Total 200 100

Graph 4:

50
45
40
35
30
50
25
20
15 24.5
20.5
10
5 5

0
Once in a year Twice in a year Thrice in a year More

Analysis & Interpretation:

15
 From the above 5 % employees think that training is conducted once in a year,
20.5 % employees think that training is conducted twice in a year, 24.5 % employees
think that training is conducted thrice in a year and 50 % employees think that training is
conducted more than thrice in a year. It is found that 50 % employee think training is
conducted more than thrice therefore company like Training oriented companies has an
opportunity to expand its business entering into BFSI sector in semi urban areas.

5) Is the training held in house or outhouse?

Table 5:

Attributes No. of Respondents Percentage

In house 92 46

Outhouse 108 54

Total 200 100

Graph 5:

46
54
In house
Outhouse

16
Analysis & Interpretation:

From the above 46 % employees think that training is held in house and 54 %
employees think that training is held outhouse of BFSI sector in semi urban region.

6) In what areas training is given?

Table 6:

Attributes No. of Respondents Percentage

Soft Skills 56 28

Behavioral Skills 52 26

Leadership Skills 43 21.5

Interpersonal Skills 49 24.5

Total 200 100

Graph 6:

17
 30

25

20

28
15 26 24.5
21.5
10

0
Soft Skills Behavioral Skills Leadership Skills Interpersonal Skills

Analysis & Interpretation:

From the above 28 % employees think that training is given on soft skills, 26 %
employees think that training is given on behavioural, 21.5 % employees think that
training is given on leadership skills and 24.5 % employees think that training is given on
interpersonal skills of BFSI sector in semi urban region.

7) Is there any pre & post training evaluation?

Table 7:

Attributes No. of Respondents Percentage

Yes 142 71

No 58 29

Total 200 100

18
Graph 7:

71
80

70

60

50
29
40

30

20

10

0
Yes No

Analysis & Interpretation:

From the above 71 % employees think that there is pre & post training evaluation
in bank/financial institution and 29 % employees think that there is not pre & post
training evaluation in bank/financial institution. In BFSI sector 71 % training evaluation
is done, because of this they will find out improvement after training.

8) How much you paid on a single employee?

Table 8:

Attributes No. of Respondents Percentage

Rs 5000 82 41

19
 Rs 10000 73 36.5

Rs 15000 39 19.5

More/Less 6 3

Total 200 100

Graph 8:

45 41
36.5
40
35
30
25 19.5
20
15
10
3
5
0
Rs 5000 Rs 10000 Rs 15000 More/Less

Analysis & Interpretation:

From the above 41 % employees think that training cost per employee is Rs 5000,
36.5 % employees think that training cost per employee is Rs 10000, 19.5 % employees
think that training cost per employee is Rs 15000, 3 % employees think that training cost
per employee is more or less. 16 lakhs jobs are available in BFSI by 2022, therefore if
single employee training cost is at least Rs 5000 then there is a big market for training
oriented firm to invest in BFSI sector.

20
 9) Which of the following inputs are required?

Table 9:

Attributes No. of Respondents Percentage

Banking Softwares 44 22

Computer Knowledge 48 24

Numerical Skills 59 29.5

Time Management 49 24.5

Total 200 100

Graph 9:

Time Management 24.5

Numerical S kills 29.5

Computer Knowledge 24

Banking S oftwares 22

0 5 10 15 20 25 30

21
Analysis & Interpretation:

From the above 22 % of employees think that they are required training on
banking softwares, 24 % of employees think that they are required training on computer
knowledge, 29.5 % of employees think that they are required training on computer
knowledge and 24.5 % of employees think that they are required training on time
management.

10) Is there any need to add some other inputs in training?

Table 10:

Attributes No. of Respondents Percentage

Yes 144 72

No 56 28

Total 200 100

Graph 10:

22
 28

72

Yes No

Analysis & Interpretation:

From the above 72 % of employees think that there is need of extra inputs while
training and 28 % of employee think that there is no need of extra inputs. It means in
BFSI sector apart from training employee needs some other inputs. Training oriented
companies must concentrate on that other inputs.

11) Do you know something about Training oriented comapanies?

Table 11:

Attributes No. of Respondents Percentage

Yes 03 1.5

No 197 98.5

23
 Total 200 100

Graph 11:

98.5

100
90
80
70
60
50
40
30
20 1.5
10
0
Yes No

Analysis & Interpretation:

From the above 98.5 % of employees from Semi Urban region doesnt know about
Training oriented companies, while 1.5 % employee from Semi Urban region knows
about Training oriented companies.

CHAPTER 6
OBSERVATIONS & FINDINGS

Analysis shows 69.5 % employees think that bank/financial institution provide role
specific training while 30.5 % employees think that bank/financial institution does not
provide role specific training. Therefore training oriented companies must focus on role
specific training.

24
 Analysis shows 5 % employees think that training is conducted once in a year, 20.5 %
employees think that training is conducted twice in a year, 24.5 % employees think that
training is conducted thrice in a year and 50 % employees think that training is
conducted more than thrice in a year. It is found that 50 % employee think training is
conducted more than thrice therefore company like training oriented companies has an
opportunity to expand its business entering into BFSI sector in semi urban areas.
Analysis shows 28 % employees think that training is given on soft skills, 26 %
employees think that training is given on behavioural, 21.5 % employees think that
training is given on leadership skills and 24.5 % employees think that training is given
on interpersonal skills of BFSI sector in semi urban region.
Analysis shows 22 % of employees think that they are required training on banking
softwares, 24 % of employees think that they are required training on computer
knowledge, 29.5 % of employees think that they are required training on computer
knowledge and 24.5 % of employees think that they are required training on time
management.
Analysis shows 72 % of employees think that there is need of extra inputs while training
and 28 % of employee think that there is no need of extra inputs. It means in BFSI
sector apart from training employee needs some other inputs. Training oriented
companies must concentrate on that other inputs.
Analysis shows 98.5 % of employees from semi urban region doesnt know about
training oriented companies while 1.5 % employee from region knows about training
oriented companies.

SKILL REQUIREMENTS FOR EMPLOYEES OF BFSI INDUSTRY

The sectors in Banking & Financial Service Industry.

1. Banking
2. Insurance

25
 Figure 5: Skill Development Requirements in BFSI
6.1 Skill requirements for employees in Banking:

i) Executive Sales:

Excellent communication skills.

A positive, confident and determined approach.

Presentable and pleasing personality.

Confidence and Presentation skills.

Analyzing skills, Numerical skills.

Skill Gaps:

Knowledge of the Banking Industry (understanding the role of banking in Indian

economy, players in the market, public vs. private banks, different kind of customers
like urban, rural and their needs) is poor.

Selling skills ability to present bank products in an attractive manner, highlight key
positive features, understand and capture the customer needs quickly, ability to establish
credibility, cross-selling, up-selling, follow up, humility.

Sales effectiveness how to convert opportunity into sales with minimum effort, ability
to distinguish prospective customer with a window shopper, networking.

26
 Presentation - communication skills, self-presentation, understanding of customers
background and exact needs.

ii) Executive Operations:

Complete understanding of banking operations.

Good accounting skills (in case of back office).

Knowledge of banking software like Finacle.

Communicates Effectively.

Basic knowledge of computers.

Skill Gaps:

Understanding of banking operations.

Lack of knowledge on Banking law and practice, Knowledge of Negotiable Instruments

Act, application of laws to day to day operations, ability to leverage on different aspects
of application of law.

Ability to work in regulated and stressful environment.

iii) Branch Manager:

Excellent communication & people skills.

The ability to lead & motivate staff.

Problem Solving & decision Making Abilities.

Leadership skills required to manage, motivate, and develop branch employees

required.

Active Listening.

27
SkillGaps:

People management.

Not much technical skill gaps as they are experienced and well versed with banking
system.

iv) Field Executive:

Knowledge of the various products.

Emotional intelligence.

Integrity.

Selling skills.

Good communication (spoken, written) skills.

Skill Gaps:

Poor knowledge of banking products.

Poor communication skills.

Poor selling skills.

Role & Skills Requirements for employees in Corporate Banking:

i) Relationship Manager:

Understanding of Financial / Banking products and services.

Communication Skills.

Analytical Skills.

Detailed understanding of various banking product available for the corporate &
product structuring.

Good Presentation Skills.

Skill Gaps:

28
 Awareness about product structuring.

General economic awareness and ability to establish a dialogue with the client.

Communication Skills.

ii) Senior Relationship Manager:

People management.

Relationship management of large corporate client.

Handling of big ticket transaction.

Deal origination.

Supervision of transaction.

Skill Gaps:

Not much skills gap experienced as they are fairly experienced and competent.

Skill requirements for employees in treasury:

i) Manager - Treasury:

Strong leadership skills.

Ability to work under pressure.
Advanced Excel, data analysis skills.
Strong analytical skills.

Complete understanding of the all asset classes.

Knowledge of treasury software expertise a plus.

29
 Communication skills.

Skill Gaps:

Awareness of asset liability management concept.

Understanding of all the asset classes.

Quick decision making ability.

Skill requirements for employees in support function:

Assistant Manager:

Ability to problem solve within established policies and procedures, with the
understanding and compliance of all state and federal regulations and laws.
Risk management concepts.
Ability to learn and utilize new technologies.
Good Oral and written communication skills in handling both employee and member
relations.
Aptitude for compliance and documentation.

Skill Gaps:
Accounting concepts and credit evaluation.
Knowledge of various laws and regulations governing banking operations.
Risk Management.

Bank Clerk:

The ability to work neatly and accurately.

Good written and verbal communication skills.

Good numeracy and calculation skills.

Good IT skills and computer literacy.

An honest and trustworthy nature.

30
 7.2 INSURANCE

We will analyse the skill requirements across various functions and levels in the insurance
industry. Insurance sector contributes four departments which are shown below.

Figure 6: Departments in Insurance Sector

31
 Skills Requirements for employees in Insurance Sector:
a) Function: Product Development
Level: i) Manager - Product Development

Sales acumen - The candidate should have practical intelligence and ability to handle
different sales related situations.

Understand the changing needs of the customers.

Excellent communication and interpersonal skills.

Strong presentation skills.

Numeracy, especially the ability to analyze and interpret statistical data.

Excellent time management skills and self-motivation.

Skill Gaps:

Generally very experienced senior people are involved in this function and no major
skill gaps.

ii) Actuary

Determine the commercial considerations & risk factors.

Address regulatory aspects on the product design & pricing.

Ability to convert the basic Ability to convert the basic.

Develop models for pricing and profit testing.

b) Function: Sales & Marketing

Level: i) Marketing Manager

32
 Excellent motivation and communication skills.

Leadership and team management skills, Analytical skills.

Be able to motivate and inspire a team.

Be well presented with a professional manner.
Have good business awareness.
Be able to work within a budget.

Skill Gaps:

Understanding of the insurance industry.

Understandings of the competencies require becoming agent/advisor and bringing on
board the right set of advisors/agent.

ii) Advisors/Agent (Intermediary):

Complete understanding of the insurance products.

Presentable and pleasing personality.

Documentation and compliance knowledge.

Good communication skills.

Generate leads and convert it into business.

Skill Gaps:

Understanding of the insurance domain.

Lack of product knowledge.

Financial planning & concept.

Communication Skills.

iii) Insurance Agent

Active Listening.

Alternative solutions, conclusions or approaches to problems.

33
 Time Management - Managing one's own time and the time of others.

Decision Making

Complex Problem Solving.

Coordination - Adjusting actions in relation to others actions.

iv) Life Insurance Sale Agent:

Life insurance sales agents have to be confident, hardworking and enthusiastic.

Agents must have tremendous interpersonal skills and be able to communicate with
customers on the phone and in-person.

Life insurance sales agents need to manage their time well and be sensitive to any client
needs.

Having computer skills allows sales agents to stay organized and keep client
information readily available.

c) Function: Operations
Level: i) Claims Management

The ability to lead and motivate team.

Good spoken & written communication skills.

Excellent customer service skills.

Knowledge of the documents required for verification of claims.

Interpersonal skills.

Skill Gaps:

Lack of product knowledge.

Aptitude for compliance.

Time management skills.

ii) Administration

34
 Effective communication skills.

Requires logical thinking, with exceptional analytical skills.

Basic computer knowledge and typing skills.

Basic aptitude for documentation and compliance.

Coordination skills (especially with the sales team).

Skill Gaps:

Usage of the MIS system, how to generate reports, trouble shooting.

Insufficient awareness of regulations, compliance, company values and objectives and

company culture.

Basic aptitude for documentation and compliance.

d) Function: Asset Management

Level: Portfolio Manager

Knowledge of the liquidity requirements of the company based on historical claims

data.

Sound understanding of the risk appetite of the company.

Very good portfolio.

Ability to determine the right asset mix.

35
 CHAPTER 7
SUGGESTIONS/RECOMMENDATION

The company should provide role specific training because 69.5 % banking related
employee think that training given them is role specific.
The company should focus more on soft skill training then Behavioural skills,
Leadership skills & Interpersonal skills.
The company should provide training on numerical skills to the employees of BFSI
sector.
I would recommend the company to tie up with banks to provide training for different
certification program.
Training oriented companies should partner with companies & provide training on
banking softwares.

Training oriented companies should tap the opportunity to provide training in following
areas:

Core Banking Finacle Training.

Induction Training for Bank & Insurance companies.

36
 CHAPTER 8
CONCLUSION

From the analysis of the data, It reveals that the banking sector in India has made
significant progress in all financial indicators of performance measurement during the
post liberalization periodd.
It is conclude that in BFSI sector manpower must be skilled, some of the skill sets are
common requirement of every Industry in BFSI sector.
To make skilled manpower is not an easy task but not difficult also.
The study of Banking and Financial Service sector will shows that there is an immense
opportunity for training oriented companies.
In semi urban areas people doesnt know anything about training oriented companies so
there is as immense opportunity for the company to enters in semi urban areas.

37
 ANNEXURE
Questionnaire for the employee of the BFSI sector

1 Name of the Bank/Financial Institution:

i) Name of the employee:

ii) Designation:

iii) Gender: Male Female

iv) Age: Below 30 Above 30 & below 45 Above 45

v) Qualification: Post Graduate Graduate

vi) Branch:

vii) Total number of branches in region:

viii) Total number of employees in the bank/financial institution:

2 On what level decisions are to be taken in bank/financial institution?

Managerial Regional
Local National

3 Which department are you currently handling?

38
 Sales IT department
Risk Management Operations

4 Does the bank/financial institution gives training to the employees?

Yes No

5 Is there any role specific training given to the employees?

Yes No

6 Does bank/financial institution provide training apart from induction training?

Yes No

7 How often is the training conducted?

Once in a year Twice in a Year
Thrice in a year Four times in a year

8 How many training program you have attended?

One Two
Three More

9 Is the training held in house or outhouse?

In house Outhouse

10 In what areas training is given?

Soft Skill Behavioural Skills
Leadership Skills Interpersonal skills

11 Is there any pre & post training evaluation?

Yes No

12 How much you paid on training for a single employee?

Rs 5000 Rs 10000
Rs 15000 More

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 13 Is there any need to add some other inputs in training?
Yes No

14 Which of the following inputs is required?

Banking Softwares Computer knowledge
Numerical skills Time Management

15 Do you know anything about training oriented companies?

Yes No

BIBLIOGRAPHY

Source:
Company Manual
Company Broacher

Books & Reports:

Shelagh Heffernan, Modern Banking 2005
Prof. Dr. AP Faure, Investments: An Introduction 2013
Principle and Practices of Banking, 3rd Edition, Macmillan Education

Websites:
https://rbi.org.in/Scripts/PublicationReportDetails.aspx?ID=799#7
http://glpc.guj.nic.in/pride/ADMINUI/Resourcefiles/Res66Banking%20Finance
%20Services%20Insurance.pdf
Mahendraguru.com
Reserve Bank of India, www.rbi.org.in
http://www.nsdcindia.org/sites/default/files/files/Banking-Financial-Services-
Insurance.pdf

http://www.skilldevelopment.gov.in/nationalskilldevelopmentcorporation.html
https://www.agencynation.com/opportunities-for-insurance-agencies/

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 http://www.thehindubusinessline.com/money-and-banking/economic-survey-suggests-
4d-model-for-banking-sector/article6941200.ece
http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Business-Pulse--top-
10-risks-and-opportunities-2013-15
http://employmentnews.gov.in/CAREER_IN_PUBLIC_SECTOR_BANKS.asp
https://tmitm.wordpress.com/2011/12/07/5-skill-sets-impact-investment-managers-
should-cultivate/
https://www.collegerecruiter.com/blog/2013/12/16/key-skills-to-develop-for-a-career-in-
banking-and-finance/

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