What is Banking, Finance & Insurance?: Course Fees 2025, Subjects, Top Colleges, Admissions

Banking Finance Services and Insurances (BFSI) is an undergraduate-level course. The BFSI programme aims to train students in various aspects related to banking and its allied areas. The programme covers topics such as – banking, finance, insurance, investment, risk management, computer application, IT and more.

pursuing a BFSI course opens doors to career opportunities in Banking, Financial services, and Insurance. From understanding complex financial markets to managing risk and ensuring regulatory compliance, these courses equip you with the required skills and knowledge.

Insurance has numerous benefits for the policy holder. Some of the major benefits of insurance include the following:

• Financial Security During Medical Emergencies: Although an individual may have enough savings, medical treatments for his/her family may go beyond the available financial assets. Medical bills for surgeries, heart attacks, and cancer are extremely expensive and can put a major dent in the bank statements. Insurance helps in covering such losses and prepares the insured financially for the future. 
• Secures Businesses: Business owners need coverage for liability claims and property damage. Otherwise, their companies may not be able to function after covering for a loss. This applies to all businesses - small, medium and large. In general, small business owners have greater risks when they do not have an insurance plan. Any damage to his/her company without it must be paid for, from his/her expenses. 
• Income Tax Benefits: Purchasing insurance can reduce the income tax payable. Section 80C of the Income Tax Act maintains that 

1. Section 80C: The premium amount one pays for life insurance gets a deduction of up to INR 1.5 Lacs from the taxable income.
2. Section 80D: The premium paid for health insurance policies is tax-deductible under Section 80D of the Income Tax Act 1961.
3. Section 10 (10D): Life insurance benefits that the policyholder or the nominee receives are tax-exempted under this section.

You can claim the tax benefits while filing the ITR.

Learn about types of tax assessment in Income Tax

Among the many advantages of a Banking, Finance, and Insurance (BFSI) course are the following: 
Opportunities for careers

• Several career opportunities in Banking, Financial Services, and Insurance are possible with a BFSI degree. Graduates can grow in their careers by assuming leadership positions or going back to school for more education in relevant subjects. 
• Competencies and expertise: Students enrolled in BFSI courses gain fundamental knowledge and abilities in areas like risk management, regulatory compliance, and financial market understanding. Concepts like asset management, which entails knowing how to manage various asset classes like stocks, bonds, and real estate, may also be taught to students. 
• Pay Rises: Professionals in financial services with certifications may be paid more. 
• Cognitive Aptitude: BFSI courses can improve a student's capacity for thought and teamwork. 

Banking and finance institutes in India provide a wide range of specializations, including Finance, Sales & Marketing, Human Resources, Operations, IT & Systems, and many more. The specializations offered by the number of colleges are displayed in the table below:

The eligibility criteria for BFSI apprenticeship is to complete Class 10, 12, graduation or postgraduation.  Have a diploma in finance, commerce, or business administration. Meet the age requirements of the apprenticeship programme or relevant authorities Have completed pre-apprenticeship training programs or courses.

Some say that basic Mathematics knowledge is required for banking courses, even if math isn't required by educational qualifications. For example, Financial Analysts need good Math skills for number crunching, and Bank Managers need Math and critical thinking skills to use data and communicate goals. 
However, Mathematics is mandatory for undergraduate and postgraduate courses.

The major subjects of CFA include Ethical and professional Standards, Quantitative Methods, Economics, Financial Reporting and Analysis, Corporate Finance, Equity Investments, Portfolio Management, Alternative Investments, Derivative, and Fixed Income. You can have a look at the detailed syllabus structure on the official website.

The CFA Level I exam covers a broad range of topics. Here are the major subject areas included in the Level I syllabus:

1. Ethical and Professional Standards: This section emphasizes the ethical and professional responsibilities of investment professionals, including the CFA Institute's Code of Ethics and Standards of Professional Conduct.

2. Quantitative Methods: This area focuses on quantitative techniques and methods used in investment analysis, including statistical concepts, probability theory, time value of money, and basic regression analysis.

3. Economics: The economics section covers microeconomics and macroeconomics, including supply and demand analysis, market structures, monetary and fiscal policy, and international trade.

4. Financial Reporting and Analysis: This section explores the principles and analysis of financial reporting, including the interpretation of financial statements, financial ratio analysis, and understanding key accounting concepts.

5. Corporate Finance: This area covers topics related to corporate finance, including capital budgeting, cost of capital, capital structure, dividend policy, and corporate governance.

6. Equity Investments: The equity investments section focuses on equity markets, equity valuation models, industry and company analysis, and equity portfolio management.

7. Fixed Income: This section delves into fixed income securities, bond valuation, yield measures, fixed income markets, and fixed income portfolio management.

8. Derivatives: This area covers derivatives instruments, including options, futures, forwards, and swaps, along with their valuation and strategies for their use.

9. Alternative Investments: This section introduces alternative investment types, such as real estate, private equity, hedge funds, and commodities, along with their characteristics and valuation.

10. Portfolio Management and Wealth Planning: This final section addresses portfolio management concepts, including portfolio theory, risk management, performance evaluation, and wealth planning strategies.

These topics provide a general overview of the major subject areas covered in the CFA Level I syllabus. Each subject area encompasses various subtopics, and the CFA Institute provides a detailed curriculum that outlines the specific learning outcomes for each level. It's essential to refer to the official CFA Institute curriculum and study materials for a comprehensive understanding of the exam content.

Hi, The table below shows the best Banking and Finance colleges in India along with their total tuition fees:

The table below shows the top colleges for Diploma in Banking and Finance in India along with their total tuition fees:

BFSI students can work in various industries including Finance, banks, MNCs, and more. The salary package depends on the skillset, relevant experience, and job position of an employee. However, the salary of a Financial Analyst is INR 6 LPA in India.

There are a lot of areas to explore for the students to opt for banking and insurance. Here are some areas where they will work in
the future after completion of their respective degrees/ courses.

1. Government Sector (Banking, Finance, and Insurance sector)
2. MNCs (Banking, Insurance, and Finance sector)
3. Freelancing (Consultant, Advisor, Strategist, Agent, Assistant, Marketing Agent, and more.

Banking and insurance offer a wide area to explore for the candidates. Here are the few factors and skillsets, which make a
candidate ideal for such courses.

. Candidates must have a mindset to learn and adapt to the system of different areas of Banking and Insurance.
. Candidates can handle customers.
. They should have basic knowledge of the Banking and Insurance sector.
. Candidates must have the ability to learn thoroughly understand and use in the practical application of the theory learnt.
· Candidates with good business communication skills are advantageous.
. Candidates who already learned Business Economics, Accountancy, Financial Management, Mathematics, and Statistics in
their 10+2 standard.

There are plenty of options to explore after the completion of the banking and insurance course. A student may get job offers
from different organizations in the private sector. However, there are numerous banking and insurance exams conducted
every year, such as SBI PO, IBPS PO, SBI SO, SBI Clerk, IBPS Clerk, and LIC AAO. By those exams, thousands of graduates get
placed every year in the government sector with good packages.