NIIT opens banking institute

NIIT on Tuesday announced its entry into training for the financial services sector with the launch of the Institute of Finance, Banking and Insurance.

According to a release issued by NIIT to the BSE on Tuesday, the company has set up the institute in partnership with ICICI Bank.

The institute was launched in Mumbai by K V Kamath, managing director and CEO of ICICI Bank, and Rajendra S Pawar, chairman of NIIT.

"IFBI will commence admissions in October 2006, and its first offering, a 6-month full-time programme, Post Graduate Diploma in Banking Operations, will focus on grooming entry-level professionals for the banking industry. ICICI Bank has offered to recruit all the students of the first batch as officers on successful completion of the programme," the release added.

"The launch of IFBI utilises our reach and expertise in distributed non-formal education, and harnesses the domain expertise of ICICI Bank to move into the growing areas of the knowledge economy," Pawar said.