How does PGDM in Banking and Financial Services at IMT Ghaziabad a unique opportunity for aspiring management students?
Banking & Financial Sector all over the world has seen a paradigm shift caused by a few mega key trends like digitalization and technological advancements. Demographic and behavioral changes in the new generation of customers (known as the Millennial), new market participants like Fintech, regulatory capital requirement etc. to name a few. All these trends are also seen in India, but the most dominating one is digitalization and technological advancement. For the sustainable growth and their existence, this sector requires manpower and other resources which are well equipped with technology and domain knowledge
All these changes are redefining the sector and it’s need particularly in the area of skilled manpower. The most established banks and financial institutions are facing acute shortage of skilled manpower. These demands more and more of better-trained manpower to run its businesses today and to give a vision for new forms of business for tomorrow. This demand shows itself up each year very clearly in the number and variety of job roles offered by banking and financial services companies to students in campuses across India.
At the same time, hemmed-in by fierce competition and fast-changing business conditions, these companies are finding it tough to commit time and resources for training new recruits into their respective roles. They are looking up to the academia to take up some of those burdens.
IMT Ghaziabad (IMTG) has taken a lead by offering a post graduate diploma in management program for banking and financial services (the PGDM (BFS) program). This program started in 2019 and has seen two batches of students till now. The PGDM (BFS) is a two-year fully residential diploma program developed by IMT, Ghaziabad with the help of Vlerick Business School (VBS) of Belgium and trains the students for careers specialized in the banking and financial service industry roles.
Vlerick Business School (VBS), Brussels is the oldest business and management school in Europe. It was established in 1953. It is a triple-accredited (AACSB, AMBA and EQUIS) business school with campuses in Brussels, Ghent and Leuven. Over the years, the School has built a solid and worldwide reputation as a leading, independent institution with a strong international focus and close ties to both the academic and corporate worlds.
The foundation of the PGDM (BFS) program at IMTG was laid when it was realized that although there are some management programs focusing on the banking and financial services sector in India, training students to meet the challenges thrown at them by the rapidly changing technology, regulation and business conditions in the sector will require a different approach. To be effective, such a program must expose students to the industry from multiple perspectives (economic, regulatory, technological, financial and managerial) and help them learn skills they would need to work in the industry.
Another realization was that effectiveness will not be fully attained till the program does not give students an international experience and world-class content and pedagogy. And so, IMTG teamed up with the VBS for both design and delivery of the program. VBS was involved in the planning, design and delivery of the courses from the beginning and also takes care of the Boot-Camp and elective courses in the second year.
Currently, the PGDM (BFS) program has two batches enrolled. The first batch, 2019-2021 is on the verge of completion of its 7th and final term. The second batch of the PGDM (BFS) program, 2020-2020, is in its third term. After the third term, these students will proceed for their Summer Internships at various organizations.
Industry feedback received for both the batches, in the form of jobs and internships offered to the students as well as at other touch points has been extremely encouraging.
Even then, the program has continuous improvement built-in and more is underway to ensure the needs of all involved, including students and companies, are kept at the center of each iteration of the program.
The PGDM (BFS) program at IMT, Ghaziabad is a unique opportunity for aspiring management students to become specialists in the workings of the financial sector and launch themselves into a fast-paced career track where, to say nothing of the rewards, the challenges are exciting in themselves.
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