The BFSI Sector Skill Council of India is set up to bring leading organizations of the BFSI industry together to create strategies and operational plans that will create standardized skill requirements for the various job roles in the industry. The skill council will also accredit well-equipped service providers who will partner to disseminate the training. The skill council is seen by its stakeholders and partners as a nation-building activity with far reaching implications for social development and empowerment through financial inclusion. Great care is being taken to appropriately address the needs of the various industry verticals as well as the geographical regions of the country. The Indian economy has quite evidently been on a relatively high growth trajectory. It has experienced an average growth rate of over 9% annually for the last three years. There is no question that this surge has favorably impacted the Banking, Financial Services and Insurance (BFSI) sector.
BFSI companies are now able to expand by introducing new products, leveraging technology, deploying innovative strategies and ramping up distribution networks. Greater levels of consumer awareness about various investment options have enlarged the potential of this sector for catering to the various strata of society. Deregulation has induced the banking sector in particular to explore new business avenues. A strong regulatory and compliance framework in creating an investment friendly environment is showing positive signs for the sector too.
