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BACHELOR OF VOCATIONS (B. Voc.) in Banking, Finance and Insurance with Actuarial Studies

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Introduction

Finance industry in India is rapidly growing with the insurance sector and financial services. In Pune, the banking sector has grown with headquarters of Bank of Maharashtra, Bajaj Allianz and having regional offices of SBI, LIC of India, ICICI Prudential, HDFC, TATA AIG, KOTAK and many Financial services & insurance industries. There is a large gap between the requirement of skilled manpower for this sector and available manpower. There are very few skill-oriented courses which train students with skills in Banking Services, Financial Services, Mutual Funds and Insurance services. Thus, there is a good job opportunity for students having knowledge of finance, insurance and actuarial studies together.

This course is designed to provide an introduction to the quantitative and qualitative skills in the field of banking, finance and actuarial work. It is a skill-based program which includes on job training/internship. Topics covered include: the role, purpose and capabilities of actuaries; the role, purpose and capabilities of bankers; introduction to the financial services market in India; an overview of insurance, investment products and financial products; construction and use of the life table; allowing for uncertainty in financial calculations; calculation of premiums and reserves; introduction to computational and simulation techniques; professionalism; and the actuarial/banker code of conduct. This course is aimed at anyone, who is interested in the work of actuaries, bankers, insurance agents and investment bankers.

Objectives
  • To develop conceptual understanding the fundamentals of financial Accounting, banking and insurance, Communication skill, Finance, Entrepreneurial skills, Actuarial skills Mathematical and Statistical Skills, Banking and Insurance Laws, Income tax, GST, Mutual Funds etc. required to cater the requirement of the emerging Banking, Finance and Insurance world.
  • To impart the various skills like accounting skills, managerial skills, internships, communication skills and to make overall personality development of the students, through practical approach and exposure and make them competent enough to face the global challenges in the contemporary business scenario.
  • To develop among the students the qualities of an entrepreneur, an insurance agent or investment banker and make them equipped to formulate modern business strategies.
  • To train the graduates with specialised skills in banking, finance and insurance sector.
Intake capacity

TThe intake capacity for each of the F.Y., S.Y., and T.Y. B. Voc. is of 50 students respectively. The college follows the reservation policy as per government of Maharashtra and the Savitribai Phule Pune University norms.

Course Structure

The B. Voc. Programme is a three-year full-time undergraduate program. The details of the courses are provided as under. Unique feature of the course is that it has multiple entry and exit points with certifications.

Award of degree (As per UGC New Delhi Guidelines Certifications are awarded as follows)
  • If a student completes 1st year successfully then he/she will be awarded Diploma in Banking, Finance and Insurance with Actuarial Studies.
  • If s/he completes the first two years successfully then he/she will be awarded Advanced Diploma in Banking, Finance and Insurance with Actuarial Studies.
  • If s/he completes all three years successfully then he/she will be awarded B. Voc. in Banking, Finance and Insurance with Actuarial Studies.
B. Voc. First Year (F.Y.)

Considering the needs of changing business environments and the emerging business challenges across the globe, the Savitribai Phule Pune University has introduced the Choice Based Credit System.

Semester I
Course Code Title of the course Credits
Skill Component 18
BVBFSI – 101 An introduction to Banking and Insurance 3
BVBFSI – 102 Financial Systems 3
BVBFSI – 103 Vocational Lab in Banking Correspondent (Bank Internship) 12
General Education Component 12
BVBFSI – 104 Fundamentals of Accounting 3
BVBFSI – 105 Financial Mathematics – I 3
BVBFSI – 106 Basic Course in ‘R’ Programming 3
BVBFSI – 107 Business English - I 3
Semester II
Course Code Title of the course Credits
Skill Component 18
BVBFSI – 201 Microfinance and Microinsurance Institutes 3
BVBFSI – 202 Mutual Funds 3
BVBFSI – 203 Vocational Lab in Mutual Fund Agent (Internship) 12
General Education Component 12
BVBFSI – 204 Advanced Financial Accountancy 3
BVBFSI – 205 Financial Mathematics – II 3
BVBFSI – 206 IT for Banking and Insurance 3
BVBFSI – 207 Business English - II 3

The courses mentioned below are as per the Revised B. Voc. Program Structure CBCS 2019 Pattern.

Semester III
Course Code Title of the course Credits
Skill Component 18
BVBFSI – 301 Retail Banking 3
BVBFSI – 302 Personal Finance & Wealth Management 3
BVBFSI – 303 Vocational Lab Retail Banking Operations and Personal Finance 12
General Education Component 12
BVBFSI – 304 Direct Tax 3
BVBFSI – 305 Life Insurance 3
BVBFSI – 306 Business Statistics – I 3
BVBFSI – 307 Actuarial Studies – I 3
BVBFSI – 308 Environmental Awareness Graded Subject
Semester IV
Course Code Title of the course Credits
Skill Component 18
BVBFSI – 401 MSME Finance 3
BVBFSI – 402 Financial Literacy for Inclusion 3
BVBFSI – 403 Vocational Lab in Financial Inclusion Officer 12
General Education Component 12
BVBFSI – 404 General Insurance 3
BVBFSI – 405 Indirect Tax 3
BVBFSI – 406 Business Statistics - II 3
BVBFSI – 407 Actuarial Studies – II 3
BVBFSI – 408 Environmental Awareness Graded Subject
Semester V
Course Code Title of the course Credits
Skill Component 18
BVBFSI – 501 International Trade Finance 3
BVBFSI – 502 Introduction to Machine Learning with R 3
BVBFSI – 503 Practical course on Machine Learning with R 2
BVBFSI – 504 Vocational Lab – International Trade Finance 10
General Education Component 12
BVBFSI – 505 Entrepreneurship Development 3
BVBFSI – 506 Introduction to International Financial Reporting Standards 3
BVBFSI – 507 Business Communications and Public Relations 3
BVBFSI – 508 Group and Retirement Benefit Schemes 3
Semester VI
Course Code Title of the course Credits
Skill Component 18
BVBFSI – 601 Credit Administration and Monitoring Manager 3
BVBFSI – 602 Introduction to Excel and Financial Modelling 3
BVBFSI – 603 Practical course on Excel and Financial Modelling 2
BVBFSI – 604 Vocational Lab - Credit Administration and Monitoring Manager 10
General Education Component 12
BVBFSI – 605 Principles and Practices of Auditing 3
BVBFSI – 606 Introduction to International Financial Reporting Standards 3
BVBFSI – 607 Business Ethics and Corporate Governance 3
BVBFSI – 608 Business Economics 3

There is a vocational laboratory course in each semester. This course includes the on-job training or internship and students have to complete this course by working in banks, insurance companies, finance firms etc. After successful completion of this course there will be an examination conducted by Sector Skill Council in Banking, Financial Services and Insurance (BFSI).

Eligibility Requirements

Students migrating from other Countries/Universities/Boards either from the State of Maharashtra or from outside Maharashtra State will be admitted provisionally in the college on production of an eligibility certificate. Admission will be treated as provisional until the ‘eligibility’ is cleared. For this purpose, the students will have to apply in the prescribed form of eligibility certificate along with the following certificates in original (and a photocopy thereof)

  • Passing Certificate
  • Statement of marks
  • Migration Certificate from previous Country / University / Board
  • Character Certificate
  • Transfer Certificate from the Principal of the previous college
  • Passport size photos

The students have to pay the prescribed fees. The responsibility of obtaining an Eligibility lies with the students themselves, failing to which, a student will not be allowed to appear for the final examination and a student’s provisional admission will be treated as cancelled. The college will however provide necessary guidance. The above rules of Eligibility apply to all students admitted to Post Graduation Classes also. No candidates shall be admitted to enter the First Year of the B. Voc. Degree Course unless he/she has passed the Higher Secondary School Certificate Examination of the Maharashtra State Board of Higher Secondary Education or any other equivalent recognized board with English as a passing subject.

Admission Procedure

A Student has to obtain/ download the Admission Form in prescribed format from the College website. The admission form duly filled should be submitted to college along with following documents in original/ scanned version.

  • School leaving certificate / Transfer Certificate.
  • Address proof
  • Original mark sheet (12th Std Mark Sheet or equivalent for Bachelor Courses / graduation- for PG courses)
  • Three Passport size photos

Students are requested to update themselves of the merit list on the College website and seek admission by payment of fees (online). The admission is confirmed only after the fees are paid in full.

Registration and Admission fees

Admission for degree and diploma courses will be confirmed only after receipt of admission form duly filled in all respects along with original documents and after payment of registration fees of 150/- and complete fees.
NOTE: Registration fee is non-refundable.

Frequently Asked Questions - FAQs

Is the B. Voc. Program a Full Time program?

Yes, B. Voc. is a 3-year full time program.

Can I work alongside my study?

Since the B. Voc. program is a full time program, students are expected to attend college regularly as per SPPU, Pune and UGC New Delhi norms. Students may, if they wish, join a part time job without missing on the academics and co-curricular activities of the college.

Is a student allowed Internship during the program?

Yes. College has a dedicated Training and Placement Officer (TPO). TPO will also take necessary efforts to provide Internship and placement for registered interested students.

Is the Admission assured after filling up the Admission Form?

No. After the submission of Admission Forms, Merit lists are prepared. Admission for B. Voc. is based on Merit and conditional to eligibility approved by SPPU, Pune and other Government guidelines.

What are the Fees of the B. Voc. Program?

The fees of the B. Voc. Program is as per the SPPU, Pune guidelines. For further queries and clarifications, contact the administration office.

Is internship or on-job training compulsory?

Yes. Internship or on-job training is an integral part of the course and it is compulsory.

Is it necessary to Submit assignments and Tutorials?

Yes. Each Assignment, presentation and Tutorials carry marks. There is a separate passing head in Tutorials and it is essential to pass.

Is Passing in every Head compulsory?

Yes. Under the Choice Based Credit System (2019 Pattern), passing separately in each Head is compulsory. Heads imply Internal Examination, Tutorials, External Examination, Viva Voce and Practical wherever applicable. Backlogs in only four heads are allowed to be carried forward to the subsequent year. A student will have a backlog if he/ she is unable to secure 40% in each head separately.

How does this course differ from B. Com. or BBA?

This is a skill-based course in a specialised area of Banking, Finance and Insurance. Internship or on-job training is an integral part of this course. Unique feature of the course is that it includes the courses in Actuarial Studies.