BWI: Federal Bank signs MoU with Manipal Global Education Services for Banking Training Program

Press release from Business Wire India
Source: MaGE
Thursday, August 23, 2012 06:02 PM IST (12:32 PM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Education & training, Major diversified industrial groups
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Federal Bank signs MoU with Manipal Global Education Services for Banking Training Program


Bangalore, Karnataka, India, Thursday, August 23, 2012 -- (Business Wire India) -- -- Manipal Global Education Services in partnership with Federal Bank to offer Banking Training Program

-- The program is a one year full time residential program on various areas of Banking and Finance

-- The program has been designed to equip trainee officers with necessary domain knowledge in Banking and also enhancing competency and soft skills

-- Successful completion of the program will lead to PG Diploma in Banking & Finance, awarded by Manipal University

-- Other attractive features include "earn while you learn" stipends during the tenure of the course, full course fee funded as special education loans from Federal Bank

-- Selection will be based on all India selection process through an online test followed by personal interview

-- First batch will commence in November 2012at Bangalore

Federal Bank today signed a MoU with Manipal Global Education Services (MaGE) to offer customised Banking Training Programs at their Banking Training Campus in Bangalore.

The Banking Training Program is a customised program that has been designed to equip trainee officers of Federal Bank Ltd with necessary domain knowledge in Banking, besides enhancing competency and soft skills. The program includes nine months of intensive campus training and three month internship at a branch of Federal Bank. The first batch will commence in November 2012.

On successful completion of the program, students will be awarded a Post Graduate Diploma in Banking and Finance, awarded by Manipal University and will be absorbed as Probationary Officers by Federal Bank.The crux of this industry-academia partnership is to help create an employable workforce with First Hour First Day productivity.

Speaking on this occasion Mr. Shyam Srinivasan, MD and CEO, Federal Bank said, "We are happy to announce the start of this program in association with Manipal Global Education Services. The program is aimed at equipping officers with that extra knowledge and skills that would help them achieve excellence in banking services. The course would provide steady stream of trained manpower that will help the Bank meet its requirements of skilled workforce that is vital for the industry."

Mr. Jolly Antony, GM-HR, Federal Bank explained that a similar model of recruitment in late 60s was initiated by the founder chairman Late Shri K P Hormis and many employees selected through the process occupy pivotal positions in the bank, as on date. He also expressed with pride that a new model which is a contemporary version of the old model is getting implemented in the bank.

Mr. S Vaitheeswaran, MD and CEO, MaGE said, "We are delighted to enter into this partnership with Federal Bank. MaGE aims to provide quality education, training and skills with strong industry connect and this program with Federal Bank reflects that deep interest and commitment. MaGE has been successfully applying this Industry-University business model with other banks in India. We believe working relationships such as these will be truly beneficial to the industry, ensuring first-day-first-hour productivity. We are sure this association too will pave the way to many active collaborative engagements that will benefit the BFSI industry"

About Manipal Global Education Services:

Manipal Global Education Services is the leading India-headquartered International provider of high-quality higher education services. Its ambit includes a wide range of higher education services to institutions in India, corporate training programmes in partnership with leading enterprises, vocational training across a number of sectors, as well as technology-driven services in areas such as testing and education delivery. It also owns and operates university campuses in Malaysia, Antigua in the Caribbean, Dubai and Nepal. It services and supports over 200,000 students currently, many of them through its award-winning technology platform, EduNxtT.

Manipal Global Education Services believes that industry relevance is the key construct in career-focused education in India. This has led to the development of innovative partnerships, with City & Guilds UK to launch IndiaSkills, and, with leading Indian banks like ICICI Bank, Bank of Baroda, Axis Bank and others to establish academies of banking & finance. Its other strategic investments include MeritTrac, India's leading testing & assessment company, and iRize, a leading creator of the employment ecosystem in India.

About Federal Bank:

Federal Bank is the fourth largest private sector bank in the country in terms of footprint. The Bank is also one of the best capitalized banks in the country with Capital Adequacy Ratio of 15.45% (as at June 30, 2012). The bank has been expanding aggressively and as on date, Bank has network of 1000 branches and 1068 ATMs spread across the country. The wisdom and strength of tradition and the penchant for path breaking innovation enable the bank to offer cutting edge technology enabled services to its clientele. The Bank had total business of Rs. 88,601 Crore as at June 30, 2012. It has Net worth of Rs. 5,897 Crore as at the end of Q1 of fiscal 2012-13. It recorded net profit of Rs. 776.79 Crore during financial year 2011-12. Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for the NRI customers in UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers service beyond par. It has a well defined vision for the future as a guidepost to its progress.

To view the photograph, please click on the link below:

Federal Bank MaGE MoU signing pic
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Federal_Bank_MaGE_MoU_signing_pic.jpg
Federal_Bank_MaGE_MoU_signing_pic.jpg


CONTACT DETAILS
Priya Manikkath,Head - Corporate Communications, Manipal Global Education Services (editorial enquiries only), +91 9845090010
Anand Chugh,Chief Manager - Marketing Department, The Federal Bank Ltd, +91 (484) 2624632, anandchugh@federalbank.co.in

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, EDUCATION, GROUPS

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