India can become the hub for the global financial services market: Shri Dharmendra Pradhan

NSDC & Bajaj Finserv and AICTE & Bajaj Finserv exchanged two MoUs in the August presence of Shri Dharmendra Pradhan, Union Minister for Education and Skill Development & Entrepreneurship; Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development & Entrepreneurship; Prof. Rajive Kumar, Member Secretary, AICTE; Ved Mani Tiwari, CEO, NSDC and MD, NSDC International and Sanjiv Bajaj, Chairman & MD of Bajaj Finserv. The ceremony was also attended by Kurush Irani, President Group – CSR and Pallavi Gandhalikar, National Head – CSR of Bajaj Finserv.

AICTE, (under the aegis of the Ministry of Higher Education) and National Skill Development Corporation (NSDC), (under the aegis of the Ministry of Skill Development and Entrepreneurship), the principal architects of the skill ecosystem in the country forged partnerships today with Bajaj Finserv Ltd., one of India’s leading and most diversified financial services groups, to prepare young graduates for employment opportunities in the financial services sector.

Speaking on the occasion Shri Dharmendra Pradhan expressed his happiness to witness the signing of MoUs of NSDC and AICTE with Bajaj Finserv to prepare young graduates for employment opportunities in the financial services sector and the launch of a Certificate Program in Banking, Finance, and Insurance. The partnerships forged today will build competencies at scale in the financial sector and empower our youth to participate in the transformation happening in the financial and digital space, he added.

The Prime Minister’s vision of Viksit Bharat, the Voice of Youth program launched yesterday elicits the ideas of youth for a developed India, the role of skill development, and the financial sector in the making of a developed India, he highlighted. Shri Dharmendra Pradhan emphasized that our youth will play a key role in making a Viksit Bharat driven by knowledge, competencies, skills, and the right attitude. He said that we are building a super highway of knowledge and competencies and India can become the hub for the global financial services market.

Prof. T.G. Sitharam, Chairman, AICTE expressed his views that the signing of the MoU with Bajaj Finserv will further usher in new collaboration in education and industry-academia linkages. It will strengthen AICTE ‘s vision to bridge a gap between Industry and Academia, by rolling out immense opportunities for education, internships and job training for students in the finance, banking and insurance sectors, he added.

Ved Mani Tiwari, CEO, of NSDC and MD, of NSDC International said, India’s financial sector has seen significant growth and development in recent years. At NSDC, our dedication lies in empowering youth by offering diverse opportunities through skill development initiatives, and partnering with Bajaj Finserv marks a strategic move towards aligning our skilling endeavours with the industry’s changing in the financial sector, he added. 

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv Ltd., said that the partnership with NSDC and the Ministry of Education will help us make a difference to young people by providing them with greater access to skilling which opens infinite possibilities of success. It will also build economic resilience and an inclusive workforce for the future, in line with the theme of Kaushal Bharat, Kushal Bharat, he added.

Under the partnership, Bajaj Finserv will take forward skilling initiatives to build the capabilities of 20,000 candidates through its Certificate Program in Banking, Finance & Insurance (CPBFI), a 100-hour programme developed in collaboration with industry experts, training partners, educational institutions and psychological health institutes. CPBFI currently runs across 350+ colleges in 23 states, 100 districts and 160+ towns. It is aimed at nurturing skills, knowledge and attitudes among graduates and MBA aspirants especially in tier 2 and 3 cities, enabling them to seek employability and make the right decisions related to their long-term careers in the financial services sector.

Both partnerships focus on creating dynamic curriculum development that adapts to the ever-evolving landscape of finance, banking, and insurance and weave together the latest industry trends, technological advancements, and best practices into the curriculum. The partnership with NSDC will be elevated on Skill India Digital (SID)— a comprehensive information gateway for all government-led skilling and entrepreneurship initiatives, ensuring that students are not just academically equipped but thrive in the practical realities of these sectors.

Through strategic industry, partnerships will also be undertaken with esteemed banks, financial institutions, and insurance companies to foster invaluable opportunities for the students. These partnerships provide access to internships, on-the-job training, and a firsthand glimpse into real-world industry practices. This will bridge the gap between classroom learning and industry demands, paving the way for a seamless transition into professional roles.

In addition to imparting domain knowledge, the collaboration also aims to enhance the confidence of candidates through cognitively designed communication and workplace skills. To date, CPBFI has trained and benefited over 40,000 students from tier 2 & tier 3 towns since its inception. 

AICTE under the aegis of the Ministry of Education has designated Odisha as a priority state. Consequently, the initiation of youth skilling programs will begin in the first phase across ten districts of Odisha where students will receive a joint certification accredited by Bajaj Finserv and Skill India.

Disclaimer: This is an official press release by Pib.