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MBA Banking and Insurance Course, Eligibility, Admission 2024, Colleges, Syllabus, Scope

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MBA Banking and Insurance Course, Eligibility, Admission 2024, Colleges, Syllabus, Scope

Edited By Moksh Dheri | Updated on Nov 16, 2023 12:11 AM IST

What is MBA Banking and Insurance?

MBA Banking and Insurance is a degree programme at the postgraduate level in management. The course duration is typically two years and is spread across four semesters. The course equips students with in-depth knowledge in the field of banking and insurance. MBA Banking and Finance course also prepares students for various leadership roles in different organisations providing banking or insurance services. The course also offers specialised training in areas like international banking and insurance, risk management, treasury operations, projects and infrastructure.

Students after completing this course can opt for various job roles in the field of Banking and Insurance such as Accountant, Financial Advisor, Insurance Manager, Investment Banker, and Financial Analyst. The course curriculum combines both theory and practical teaching methods to provide students with both the necessary theoretical knowledge and hands-on experience to make them ready for their future careers. In this article, we will discuss the course details of the MBA Insurance and Banking course, eligibility criteria, admission process and various other details related to the course.

Highlights - MBA Banking and Insurance

Particulars

Values

Degree Name

MBA Banking and Insurance

Degree Type

Postgraduate

Degree Duration

2 year

Entrance Exams

CAT, XAT, MAT, GMAT, CMAT, NMAT, SNAP

Eligibility Criteria

Bachelor’s degree

Admissions Process

Direct admission is based on an entrance exam or entrance exam followed by GDPI

Fees for the entire duration

Rs 25,070 to Rs 12.50 lakhs

Average Salary

Rs 3.9 LPA (for an insurance manager in India)

Job Profiles

Accountant, Financial Advisor, Insurance Manager, Investment Banking, Loan Counsellor, Cashier

Top Recruiters

Bajaj Allianz Life Insurance Co. Ltd., HDFC Standard Life Insurance, Punjab National Bank, Bank of India, ICICI Prudential Life Insurance Co. Ltd.

MBA Banking and Insurance Eligibility Criteria

Candidates aspiring to pursue an MBA in Insurance and Banking course must meet the eligibility criteria of the desired institute. The eligibility criteria can be found on the official website of the college. They are advised to check the eligibility criteria carefully before applying for admission. MBA Banking and Insurance eligibility criteria are mentioned below.

  • Candidates should have completed a Bachelor’s degree in a relevant field with a minimum aggregate score of 50 percent from a recognized institute.

  • They should appear for at least one MBA Entrance Test and score the cut-off that has been specified by their chosen institute. Popular MBA exams in India are CAT, XAT, MAT, CMAT, and GMAT (candidates belonging to reserved categories may get relaxation as per government and university guidelines).

  • They can check the eligibility criteria by visiting the official website of the course or reading the programme brochure which is also available for download on the official website of their chosen institute.

Popular Management Colleges in India

MBA Banking and Insurance Admission Procedure

The admission process for the MBA Banking and Insurance course is quite simple. Students interested in pursuing an MBA in Banking Finance and Insurance should appear for a management entrance exam like CAT, BHU CET, MAT, CMAT, XAT or any other national, state or university-level entrance exam as specified by the preferred institute for admission purposes. Candidates who are shortlisted may also have to appear for a written test, personal interview and/or group discussion as part of the admission process.

  • Candidates can either apply for their desired institute by visiting the official website of the course or they can directly apply for the entrance exam required by the college and score a valid cut-off.

  • After successfully clearing the entrance exam, some colleges may also conduct Group Discussions and personal interviews or a written test. Candidates are required to clear these stages to get admission.

  • Once selected, candidates should pay the course fees along with the required documents as per the needs of the institute.

  • These steps conclude the admission process for MBA Banking and Insurance courses.

Top Entrance Exams for MBA Banking and Insurance

CAT: Common Admission Test popularly known as the CAT is one of the most popular management national-level entrance exams which is conducted by the IIM for admission to the IIMs and more than 1,200 B-schools in India.


MAT: Management Aptitude Test also known as MAT is another national-level entrance exam in India. The exam is conducted by the All India Management Association (AIMA) for admission to their MBA/PGDM course.


GMAT: Graduate Management Admission Test or GMAT is an international-level entrance examination which is conducted by the Graduate Management Admission Council (GMAC) for admission to MBA/PGDM degree programmes.


CMAT: Common Management Admission Test or CMAT is a national-level entrance exam which is conducted by the National Testing Agency for MBA programmes. CMAT scores are accepted by over 1,000 educational institutes in India.


XAT: Xavier Aptitude Test or XAT is another national-level management entrance examination which is conducted by XLRI Jamshedpur for admission to their MBA courses at all the branches of XLRI and more than 600 other B-schools in India.


NMAT: National Management Admission Test or NMAT is a management admission test conducted by NMIMS University. Many colleges accept NMAT scores across India.

MBA Banking and Insurance Skills

Students who want to excel in the dynamic field of Banking and Insurance should possess various skill sets. These skills are not only necessary for doing well academically but they will also help students to do well in their future career endeavours. Some of the hard skills required for the course include Mathematical Skills, Analytical Skills, Banking and Insurance Aptitude. In the table below we have mentioned a few more skills required for MBA Banking and Finance courses.

Learning Mindset

Discipline

Good Business Communication

Customer Handling

Analytical Skills

Interest and aptitude for Banking and Insurance

MBA Banking and Insurance Syllabus

There are many colleges in India that offer MBA Banking and Insurance courses. The subjects for MBA Banking and Insurance will vary from one college to another, but the general course structure remains the same for every institution. In the table below we have mentioned the syllabus of Amity University for their MBA Insurance and Banking course.

Semester- I

Organisational Behaviour

Economics for Managers

Marketing Management

Information Technology for Managers

Quantitative Techniques in Management

Seminar

Business Communication

Behaviour Science- I

Foreign Business Language- I ( optional for Foreign Campuses)

-

Semester- II

Human Resource Management

Accounting and Finance for Managers

Research Methodology

Production and Operations Management

Legal Aspects of Business

Minor Project- I

Business Communication

Behavioural Science- II

Foreign Business Language- 2 ( optional for Foreign Campuses)

-

Semester- III

Business Environment and Strategic Management

Electives ( Candidates are required to choose any five from the list of available options below)

Summer Internship Evaluation Of Minor Project- 2 or Two General Electives- VI and VII

Business Communication

Foreign Business Language- 3

-

Electives ( Semester- III)

Principles and Practice of Life Insurance

Principles and Practices of General Insurance

Banking Law and Practice

Risk Management

Marketing of Insurance Products and Services

International Banking and FOREX

Health Insurance

Engineering and Liability insurance

Marketing of Financial Services

Group Insurance and Retirement Benefit Scheme

Semester- IV

Management in Action- Social, Economic and Ethical Issues

Group- I ( Candidates should choose five from the list of available options

Dissertation

Business Communication

Behavioural Science- IV

Foreign Business Language- 4 ( optional for Foreign Campuses)

Electives ( Semester- IV)

Motor Insurance

Fire and Consequential Loss Insurance

Marine Insurance

Liability and Engineering Insurance

Health Insurance and Managed Care

-

MBA Banking and Insurance Fee Structure

The fees for an MBA in Banking and Insurance differ from one college to another. The fees also depend on whether the institute is private or public. The fees of a private institute are generally higher than those of a public institute. Candidates can check the fees by visiting the official website of their desired institute. The average fee for MBA Banking and Insurance ranges from Rs 25,070 to Rs 12.50 lakhs.

Scope of MBA in Banking and Insurance

The scope of an MBA in Banking and Finance is quite broad and promising. There are a lot of areas in the field of Banking and Insurance that candidates can explore. A degree in Banking and Insurance can provide students with an exciting career. The course equips students with a comprehensive understanding of the financial and insurance sectors. After completion of the course, graduates can work as a Financial Analyst, Investment Banker, Insurance Manager, Accountant, Credit Analyst, and Loan Counsellor. Candidates can also pursue higher education such as a Ph.D. in Finance or related disciplines and be a professor at a university.

Many companies look for talented MBA professionals and are willing to offer good salaries. Graduates can also get work opportunities in MNCs abroad.

Career Options after MBA in Banking and Insurance

The career options that are available for graduates are wide in India and abroad. Candidates can work as Financial Analysts, Investment Bankers, Insurance Managers, Accountants, Credit Analyst, Loan Counsellor, Personal Financial Advisor, Operations Manager. They can work in the government, banking, finance and insurance sector, MNCs and can also do freelancing. Mentioned below are some of the popular careers chosen by MBA Insurance and Banking graduates.

Loan Counsellor: Loan counsellors are professionals who are typically employed by banks or other financial institutions. They help potential clients or borrowers find the right loan or scheme according to their needs and requirements. They act as an intermediary between the borrower and the client. They also play the role of facilitators for clients who require some financial assistance from a financial institution.

Insurance Managers: Insurance managers are professionals who oversee the daily operations of an insurance company. They are responsible for managing a team of employees and also developing new insurance plans to offer customers. They also review the insurance application, determine eligibility for coverage, and review claims. They review policies to make sure they meet the requirements.

Credit Analyst: Credit Analysts also known as Credit Risk Analysts are finance professionals who are responsible for checking if people or companies can pay back the money they want to borrow. They look at the financial information of people who want to get a loan, decide if they can repay the loan, and suggest if the loan should be given.

Accountants: Accountants are professionals who manage financial records for clients, governments and organisations. They prepare financial statements and analyse the company’s accounts. They also track payments to internal and external stakeholders, prepare budget forecasts and process tax payments.

Top Recruiters

State Bank of India

Bank of India

Bank of Baroda

HDFC Standard Life Insurance Co. Ltd

TATA AIA Life Insurance Co. Ltd

Kotak Mahindra Life Insurance Co. Ltd

ICICI Bank

Punjab National Bank

Benefits of Studying MBA Banking and Insurance

There are many benefits to pursuing a course such as an MBA in Banking and Insurance in India. There are multiple job opportunities available in both the private and public sectors such as Investment Banking, Asset Management, Insurance, and Commercial Banking. Having a degree in Banking and Insurance can also be significant. The course also provides leadership skills such as problem-solving, analytical skills and communication skills.

Students also liked

MBA Banking and Insurance Salary

The salary of a graduate with a degree in Banking and Insurance depends on their experience and the skills possessed by them. In the table below we have mentioned the average salaries of some of the popular careers after an MBA in Banking and Insurance degree.

Job Profiles

Average Salary

Loan Counsellor

Rs 2.5 LPA

Insurance Manager

Rs 3.9 LPA

Credit Analyst

Rs 8.3 LPA

Accountant

Rs 3.3 LPA

List of Top MBA colleges offering MBA in Insurance and Banking specialisation

There are many colleges in India offering the MBA Banking and Finance course. In the table below we have mentioned the top ten MBA colleges.

Top Private MBA colleges offering MBA Banking and Insurance course

Numerous private institutions offer MBA Banking and Insurance programmes. Studying at a private institution provides better infrastructure facilities than a government institute. But it all depends on the candidate’s preferences. In the table below we have listed some of the top private MBA colleges.

Colleges

Fees

DYPUSM Mumbai

Rs 8.40 Lakhs

SUAS Indore

Rs 12.50 Lakhs

Shoolini University Solan

Rs 5.40 Lakhs

AKS University, Satna

Rs 1.14 Lakhs

Amity University, Noida

Rs 10.20 Lakhs

Chitkara College of Sales and Marketing, Jhansla

Rs 3 Lakhs

Manipal University Online, Jaipur

Rs 1.66 Lakhs

Top Government MBA colleges offering MBA Banking and Insurance course

There are many government colleges in India that provide MBA Banking and Insurance courses. Government colleges typically provide lower tuition fees than private colleges. Students can also apply for scholarships if provided by the desired institute. In the table below we have listed some top government colleges.

Frequently Asked Question (FAQs)

1. What is an MBA in Banking and Insurance?

 MBA Banking and Insurance is a degree programme at postgraduate level in the field of management. The course duration is typically two years and is spread across four semesters. The course equips students with in-depth knowledge in the field of banking and insurance.

2. What are the eligibility criteria for an MBA in Banking and Insurance?

The eligibility criteria for an MBA in Banking and Insurance is slightly different for every college. Candidates are required to have a Bachelor’s degree in relevant discipline with a minimum aggregate score of 50 percent. They must also appear for at least one entrance exam such as the CAT, XAT, MAT, CMAT, NMAT. Students can check the eligibility criteria for the desired course.

3. What is the admission process for an MBA Banking and Insurance?

The admission process for an MBA Banking and Insurance depends on the desired institute. The general admission requirements are candidates are required to clear an MBA entrance examination and meet the cut-off specified by the chosen institute. Some colleges may also conduct Group Discussion, Personal Interview and/ or aptitude tests.

4. What are some of the top colleges offering MBA Banking and Insurance courses?

The top colleges offering an MBA in Banking and Insurance course are DYPUSM Mumbai, SUAS Indore, Amity University, Noida, Chitkara College of Sales and Marketing, Jhansla, Shoolini University Solan.

5. What are the skills required for an MBA in Banking and Insurance course?

The skills required for an MBA in Banking and Finance include, Mindset to learn, Banking and Finance aptitude, good communication, adaptability.

6. What are some of the top recruiters for MBA Banking and Insurance courses?

Top recruiters include State Bank of India , Punjab National Bank, Bank of Baroda, HDFC Standard Life Insurance Co. Ltd, Kotak Mahindra Life Insurance Co. Ltd.

7. What are the top entrance exams required for MBA Banking and Insurance courses?

The top entrance exams include CAT, XAT, MAT, CMAT, NMAT, and SNAP.

8. What are the career options available after an MBA in Banking and Insurance degree?

Career options after MBA in Banking and Insurance include Loan Counsellor, Accountant, Investment Banker, and Insurance Manager.

9. What are the average fees for MBA Banking and Insurance courses?

The average fees range from Rs 25,070 to Rs 12.50 lakhs.

10. What is the average salary of MBA Banking and Insurance graduates?

The average salary of an insurance manager in India is Rs 3.9 LPA.

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3 Jobs Available
Publisher

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

3 Jobs Available
Journalist

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

3 Jobs Available
Editor

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

3 Jobs Available
Reporter

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication), B.M.M. (Bachelor of Mass Media), or MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

2 Jobs Available
Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

2 Jobs Available
Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

2 Jobs Available
Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

5 Jobs Available
QA Manager
4 Jobs Available
Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

3 Jobs Available
Production Manager
3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
QA Lead

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

2 Jobs Available
Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

2 Jobs Available
Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

2 Jobs Available
QA Manager
4 Jobs Available
AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

4 Jobs Available
Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

4 Jobs Available
Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

3 Jobs Available
ITSM Manager
3 Jobs Available
Automation Test Engineer

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

2 Jobs Available
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