BBI: Eligibility, Universities & Scope

Globalisation and Liberalisation have opened the gates of unprecedented growth of the Banking & Insurance sector. Banks are the financial pillars backing the roof a country’s Economy in varied ways, thus, making a career in Banking might take you great places! While some candidates opt for Banking courses after graduation, many take the decision early in life by pursuing a bachelors course in the field. A popular name in the list of Banking courses is Bachelor of Banking & Insurance or BBI, let’s explore what this course has got for you through this blog!

Bachelor of Banking and Insurance (BBI) is an undergraduate program that provides intensive knowledge of Accounting, Insurance Law, Finance, Banking, Regulations of Insurance and other related topics. This program trains candidates to excel in the field by using advanced methodologies in a professional way. 

Particulars	Details
Name of the Degree	B.Com in Banking and Insurance
Level	Undergraduate
Degree Duration	3 Years
Eligibility	10+2
Admission Process	Direct admission or based on the entrance examination
Fees	INR 4.00 Lakh- INR 5.00 Lakh
Average Salary	INR 2.00 Lakh- INR 6.00 Lakh
Job Profiles	Asset Manager, Risk Manager, Auditor, Insurance Manager.
Recruiting Companies	Insurance and Marketing Firms, Banks, Financial Advisory firms.

Why Pursue a Career in BBI?

BBI is a popular course undertaken by many young 12th passout students with commerce stream due to several factors.

• 3 year, short duration course with basic syllabus
• High placement opportunities in almost any sector
• A great starter salary package for freshers
• Provides hands-on industry experience and knowledge
• Scope for growth and personality development

Eligibility Criteria

To pursue a BBI course from a leading university, applicants must satisfy certain eligibility criteria. Although the required conditions might vary from one academic institution to another some tend to remain the same throughout. Here is a list of requirements that need to be fulfilled: 

• The student must have cleared class 12th or equivalent examination from a recognised State or Central Board of Examination. 
• English language proficiency test scores such as IELTS/PTE/TOEFL are also required.
• SAT or ACT scores are to be submitted as subject proficiency tests to apply for BBI program.

Skills Required

People with BBI degrees should possess the following skills to get hired in the best companies

Hard Skills for BBI candidates: 

• Mathematical Skills
• Cash-handling skills
• Taxing knowledge
• Financial Knowledge & awareness
• Strong Knowledge of related subject
• Entrepreneurial knowledge

Soft Skills for BBI candidates:

• Customer Service & Patience 
• Multi-tasking
• Detail-oriented
• Critical Thinking
• Teamwork
• Communication
• Management & Leadership Skills
• Presentation & Organizational Skills
• Exceptional Intelligence
• Problem solving skills

Course Details

Here are some of the other basic details regarding the BBI course.

Course Duration

3 year undergraduate program with a total of 6 semesters.

Fee Structure

The fee for Bachelors in Banking & Insurance may be Rs.15, 000- 20,000 per semester and varies from university to university. Abroad the charges may be higher than this.

BBI Syllabus

The curriculum set for a BBI course might vary as per the academic institution. However, some topics remain common throughout. Here is a list of subjects that are broadly covered in this course: 

Principles of Management	Micro-Economics	Principles of Banking & Insurance
Introduction to Computer Systems	Management of Financial Services	Financial Accounting
Business Law	Financial Management	Financial Market
Management Accounting	Cost Accounting, Insurance & Banking	Financial Reporting & Analysis
Customer Relationship	International Business	International Banking
Financial Reporting and Analysis	Banking Project	Strategic Management

Principles of Banking & Insurance
Under this BBI subject, students are provided with knowledge of basic concepts and principles of the Banking and Insurance sector. The topics included in this unit include Banker-Customer Relationship, Banking Law and Regulation, Contracts of guarantees and indemnity, Securities for bank advances, Capital Adequacy, etc. 

Financial Accounting
This topic covers the process of preparation of financial statements that shows the company’s financial performance and position to people (including investors, suppliers, creditors, and customers) which are outside the company. Every Bank and Insurance company has to prepare financial statements to show their present position in the market.

Cost Accounting in Insurance & Banking
It is a method of accounting to analyse and evaluate the cost involved in various activities, which helps the management in taking strategic decisions. The management of the bank and insurance companies use cost accounting techniques to make an organization cost-effective. 

Financial Reporting and Analysis
This topic of BBI program imparts a deeper understanding of how to analyze these reports and analysis in students. Introduction of Financial Reporting, Balance Sheet, Income Statement, Liquidity Of Short-term Assets; Related Debt-paying Ability, Long-term Debt-paying Ability, Expanded Analysis are some of the essential things you would be studying under this subject. 

List of BBI Courses 

There are various BBI programs offered by numerous universities across the globe. We have listed some of the choicest bachelor level banking courses below:

• BSc in Accounting and Banking
• BSc (Hons) in Banking and Insurance
• BA (Hons) in Banking
• Bachelor of Banking and Finance
• Bachelor of Business (Banking and Finance)
• BBA in Risk Management and Insurance
• BA in Risk Management and Insurance
• B.Com in Risk Management and Insurance
• BSc in Internationa;l Finance and Banking
• B.Sc in Insurance
• B.S. in Business: Risk Management and Insurance

Also Read: MBA in Banking and Finance

Top Institutes in India

BBI courses are very popular in Indian Universities offering bachelors, masters, and PhD programs. Some of the best Indian Institutions providing courses in BBI are listed below.

• Institute of Finance Banking and Insurance, Delhi
• National Law School of National University, Delhi
• Tolani College of Commerce, Mumbai
• D.K College, Buxar
• St. Paul’s College, Ulhasnagar
• Arya P.G College, Panipat
• Indraprastha College for Women, Delhi
• Deen Dayal Upadhyaya College, Delhi
• B.S. Group of Institutions, Delhi
• Jai Hind College, Mumbai
• Vidya Institute of Technology & Management, Delhi
• Guru Gobind Singh Indraprastha University, Delhi

Top Universities Abroad

BBI courses are readily available in universities across the globe, one can easily find a suitable university for this program. To help you further in your research, here is a list of leading educational institutes that are renowned for their bachelor’s degree in Banking and Insurance:

• Bangor University, UK
• Cardiff University, UK
• Brunel University London, UK
• Asia Pacific University of Technology and Innovation, Malaysia
• Victoria University, Australia
• University of Georgia, United States
• Monash University, Australia
• University of Calgary, Canada
• Florida State University, United States
• University of Hartford, United States
• University of Bedfordshire, UK

Careers 

Students after completing BBI and related courses can discover job opportunities in a plethora of sectors such as Insurance companies, Private Equity and Venture Capital Industry, nationalised banks, MNCs, finance sector, etc. After the completion of any of the above-mentioned bachelor’s programs in Banking and Insurance, below are some of the key profiles that you can opt for:

Investment Banking Analyst: The job responsibility of an Investment Banking Analyst is to help clients in developing and maintaining effective investments that will meet their goals. They sway the financial decisions and can determine in which companies their clients should invest. Investment Management jobs are readily available in n the market. 

Insurance claims adjuster: The job responsibility of an insurance claims adjuster is to investigate insurance claims by interviewing the claimant and witnesses and inspecting property damage to determine the extent of the company’s liability. This is the most suitable job after completing BBI.

Credit Analyst: These professionals analyze credit data and other customer-related information in the cases of loans, credits and other bank lendings. 

Also Read: Diploma in Banking and Finance

Others
Here is a list of BBI job profiles which candidates can take up after completing a course in the field: 

• Insurance investigator
• Equity Manager
• Risk manager
• Consultants
• Finance officer
• Treasurers
• Credit and cash managers

Salary in BBI 

The salary packages for the employees who pursue BBI courses is generally between Rs.25, 000/- to Rs.60, 000/- per month. A BBI fresher can get a salary of INR 3,00,000 to INR 4,00,000 annually at the start of career in India. 

According to Payscale, the average salary for BBI is $58530 (INR 48.50) per year. It may vary based on years of experience and skills possessed.

Also Read: Why Banking After Engineering?

FAQs

This was all about the BBI course and its scope. If this course really interests you, then moving forward to pursue it can be a really smart choice. Get in touch with Leverage Edu to know the process of getting into the top universities that offer your desired course. Ranging from brainstorming personality development sessions to the preparation of proficiency exams, we can help you out in everything that falls under the study abroad admissions!