ICICI Bank NIIT University MBA Programs

ICICI Bank, the country’s largest private sector bank, has signed an agreement with NIIT University to launch a Master of Business Administration (Finance & Banking) program.

In a first of its kind partnership, the agreement was signed between Chanda Kochhar, managing director & CEO, ICICI Bank and Rajendra S Pawar, founder, NIIT University.

This two-year program combines conceptual rigour with experiential learning through a unique collaboration between the domain expertise of the university, and the functional expertise of the banking industry. The students will also undergo an industry-linked internship at ICICI Bank during the course duration. On successful completion of the programs the students would directly assume middle-management responsibilities in ICICI Bank.

The programme is expected to commence from April 2011.

MBA (Finance & Banking) Programme Structure
ICICI Business Leadership Programme is an initiative by ICICI Bank in partnership with NIIT University to deliver Master of Business Administration (MBA – Finance & Banking) programme with specialisation in finance and banking. It aims to provide opportunities to professionals, who demonstrate an aptitude for the banking industry, to get identified and nurtured as future business leaders. It provides a career leap to business leadership positions and an opportunity to serve corporate India.

The course structure will be as follows :
1. Term 1 & 2- Classroom programme at Neemrana Campus ( Rajasthan ).
2. Term 3 & 4 – Internship at ICICI Bank.
3. Term 5 & 6- On campus classroom programme in the area of specialization.
4. Term 7 & 8- Internship in the area of specialization.

Each term comprises of 3 months duration.

Students joining will be trained in the areas depending on the their electives including Corporate Banking, International Finance, Risk Management and Information Technology.

During the internship the weekly schedule will consist of the students undertaking on-the-job training for 5 days. The 6th day will be reserved for classroom engagement with the assigned faculty.

On successful completion of the MBA (Finance & Banking) Programme students will be absorbed at ICICI Bank as an Manager-II grade or above based on duration of prior work experience.

The starting remuneration on Cost to Company basis for these students will be in the range of Rs 15 lacs and above [per annum].

Fee and Stipend

* To pursue the ICICI Business Leadership Programme (MBA – Finance & Banking Programme), the interested students will have to invest rupees 4.5 lacs which would be provided by ICICI Bank as a subsidized loan at an interest rate of 2.5% p.a. [Service Tax on the loan amount will be paid by the students].

* The EMIs for the loan would start once you have joined the bank. There would be no recovery of EMIs or interest during the initial programme period of 2 years. The EMIs are spread over a period of 60 months from the start date of employment with ICICI Bank and will attract a rate of interest of 2.5 % p.a. to ensure that there is minimal impact in the monthly earnings. The EMI will be approximately rupees 8,000 per month.

* Despite the rupees 4.5 lacs being paid by the students, it is a benefit for him since.

* The loan is being extended by ICICI Bank at subsidized interest rate of 2.5 % p.a.

* No EMIs/Interest will be recovered during the programme period. During programme period of 2 years students would be paid stipend/scholarship (rupees 10,000/- (per month) during class room programme phase & rupees 50,000/- (per month) during Internship phase.)

* The EMI/Interest recovery starts only from the 1st salary drawn on joining the bank after completion of the programme & internship.

* The salary at the grade that you would be joining (Manager Band II) has been adequately increased to cater for the payment of loan EMI of approximately rupees 8,000 per month.

Stipend :
During the classroom training period the students will be paid a stipend of rupees 10,000 per month to cover the incidental expenses.

During the internship phase with ICICI Bank, the students will be paid a stipend of rupees 50,000 per month to cover the expenses incurred.

Placement at ICICI Bank

On successful completion of the course students will be absorbed at ICICI Bank as an Manager-II grade or above based on duration of prior work experience.

The starting remuneration on Cost to Company basis for these students will be in the range of rupee15 lacs and above [per annum].

The students who participate in this programme will need to sign a INR 20 lacs bond with ICICI Bank. Post successful completion of the course, the students will be obliged to work for ICICI Bank for a minimum period of 3 years. If any student thereafter chooses to leave the services of the Bank within 3 years of joining, he would be required to reimburse INR 20 lacs, towards cost of education and stipends paid and the opportunity lost for the organization.

For the purpose of grant of subsidized loan, academic certificates of such students will be retained by ICICI Bank for the period of loan as a security.

Eligibility Criteria

• Working professionals who are CAs / Engineers / Graduates in any discipline(s).
• Academic qualifications – Graduates from engineering, IT, finance, economics, law, commerce, statistics etc / Chartered Accountants / Professionals with varied work experience (including shop floor professionals).
• Professional experience – Preferable work experience in industries like manufacturing [pharmaceuticals, steel, oil, gas and petroleum, etc.], infrastructure, aviation, software, power, telecom and finance.
• Minimum 60 % aggregate in graduation.
• Work Experience – Minimum of 3 Years.
• Age – Applicants should not exceed 30 years of age (as on 15th April, 2011).

Selection Process

• Interested applicants to apply on www.icicicareers.com.
• Applicants will be shortlisted on merit and will be invited for the selection process.
• Shortlisted applicants will have go through the below mentioned selection stages :

• Entrance test – The entrance test will be designed to measure the aptitude of the applicants through verbal ability, numerical ability and logical reasoning.
• Group discussion stage- Applicants clearing the aptitude test will be invited for group discussion. Based on case studies, the group discussions are mainly conducted to judge applicants on their analytical thinking, approach adapted to hypothetical business situations and the ability to break down complex problems to arrive at simple solutions.
• Psychometric Profiling / Personal Interview – Applicant clearing GD stage will be eligible for the Personal Interview Stage.

Psychometric Profiling – This is a questionnaire based psychometric tool that assesses the typical or preferred behaviour of individuals in work settings. Applicants are required to complete the questionnaire before they appear for the interview. This tool gives us a better understanding of preferred behaviour of the applicant and is not used for elimination of applicants.

Personal Interview – Shortlisted applicants will go through the personal interview round. This is the final step in the selection process.

Commencement of Programme and Batch schedule.
The first batch will be launched in April 2011 with 120 students & next batch of 120 students in October 2011.

Find more details on of ICICI Bank NIIT University MBA Programme and apply online.

source from:bankingjobsinindia.com