Established in 1928 as a company under Section 26 of the Indian Companies Act, 1913, the Indian Institute of Banking & Finance (IIBF), formerly known as the Indian Institute of Bankers (IIB), is a professional body of Banks, Financial Institutions, and their employees in India. It is known for its flagship courses, such as the Junior Associate of Indian Institute of Bankers (JAIIB)/Diploma in Banking and Finance (DBF) and the Certified Associate of Indian Institute of Bankers (CAIIB). With its membership of over 600 banks and

financial institutions A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

as institutional members and about 10,00,000 of their employees as individual members, IIBF is the largest Institute of its kind in the world .

History

The Institute was founded in 1928 as the Indian Institute of Bankers on the model of the London Institute of Banking and Finance to

license A license (American English) or licence (Commonwealth English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). A license is granted by a party (licensor) to another part ...

and

regulate Regulate may refer to: * Regulation Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly diff ...

those professionals who are known as

banker A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

s. In 1925, with the encouragement of Sir Basil Blackett, the finance member in the executive council of the

Viceroy of India The governor-general of India (1833 to 1950, from 1858 to 1947 the viceroy and governor-general of India, commonly shortened to viceroy of India) was the representative of the monarch of the United Kingdom in their capacity as the Emperor of ...

, the

Imperial Bank of India The Imperial Bank of India (IBI) was one of the oldest and the largest commercial banks in India, and was subsequently renamed and nationalised as the State Bank of India in 1955. Initially, as per its royal charter, it acted as the central ba ...

wrote a letter to The London Institute of Bankers requesting the bank to include questions on Indian banking in the institute's examinations failing which banks in India would have to start their own institute. In a reply dated 25 October 1925, Ernest Sykes, the

Secretary A secretary, administrative assistant, executive assistant, personal secretary, or other similar titles is an individual whose work consists of supporting management, including executives, using a variety of project management, program evalu ...

of the London Institute of Bankers, encouraged Indian bankers to start their own institute. A detailed

discussion Conversation is interactive communication between two or more people. The development of conversational skills and etiquette is an important part of socialization. The development of conversational skills in a new language is a frequent focus ...

was held on the subject at the board room of the

Bombay Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian States and union territories of India, state of Maharashtra. Mumbai is the financial centre, financial capital and the list of cities i ...

head

office An office is a space where the employees of an organization perform Business administration, administrative Work (human activity), work in order to support and realize the various goals of the organization. The word "office" may also denote a po ...

of the

on 12 March 1927 and the Indian Institute of Bankers was established as a result on 30 April 1928 with Sir Norcot Warren, Managing Governor of the Imperial Bank of India as the first President. Sir Warren retired shortly afterwards and was succeeded by Sir Norman Murray. The first general meeting was held at Bombay on 9 July 1928 and the institute conducted its first associate examinations between 6 and 13 April 1929. A total of 89 candidates appeared for the examination of whom, only one, T. M. Srinivasaraghavan of the Imperial Bank of India, Cuddapah passed both parts of the two-part examination.

Mission

The IIBF aims to be the premier institute for developing and nurturing competent professionals in the banking and finance sectors. This goal is achieved through a process of education, training, examination, consultancy, counselling, and continuing professional development programs.

Objectives

* To facilitate study of theory and practice of banking and finance. * To test and certify attainment of competence in the profession of banking and finance. * To collect, analyze and provide information needed by professionals in banking and finance. * To promote continuous professional development. * To promote and undertake research relating to Operations, Products, Instruments, Processes, etc., in banking and finance. * To encourage innovation and creativity among finance professionals so that they could face competition and succeed.

Academics

The Flagship Courses of IIBF are Junior Associate of Indian Institute of Bankers (JAIIB) or its equivalent Diploma in Banking and Finance (DBF) and the Certified Associate of Indian Institute of Bankers (CAIIB). Other courses offered are * Diploma in Treasury Investment & Risk Management * Diploma in International Banking & Finance * Diploma in Banking & Technology * Diploma Examination for Micro Finance Professionals * Diploma in Commodity Derivatives for Bankers * Advance Diploma in Urban Co-operative Banking * Diploma in Advanced Wealth Management and various Certificate programs These are offered in distance mode. The

pedagogy Pedagogy (), most commonly understood as the approach to teaching, is the theory and practice of learning, and how this process influences, and is influenced by, the social, political, and psychological development of learners. Pedagogy, taken ...

of Distance Learning offered by the institute is (i) publishing specific courseware for each paper/examination; (ii) publishing work books; (iii) tutorials through accredited institutions; (iv) contact classes; (v) virtual classes; (vi) e-learning through portal; (vii) campus training for selected courses, etc. The courses are considered to be comprehensive as well as exhaustive and recognized as the best in the field in India.

Governing Council

Th
IIBF governing council consists
of members/representatives from the

Reserve Bank of India Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...

, National Banks, Regional Rural Banks, Apex Cooperative Banks,

Financial Institutions A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

and

Private Bank Private banks are banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, creditors can look to both the "entirety of the bank's assets" as well as the entire ...

s. The Education and Research Committees of the Institute consist of eminent practitioners in the field.

Notes

External links

Indian Institute of Banking and Finance
{{DEFAULTSORT:Indian Institute Of Banking And Finance Banking institutes Organizations established in 1928 Education in Mumbai Organisations based in Mumbai Banking schools in India Professional associations based in India 1928 establishments in India