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Youth of J&K to get training in banking, financial services and insurance sector

Last Updated on November 29, 2020 at 8:17 pm

Shortly after the recent signing of Memorandums of Understanding (MoU’s) between Bombay Stock Exchange (BSE) and Mission Youth, J&K, a meeting was today co-chaired by Chairman, BSE Institute Ambarish Datta and CEO, Mission Youth and Mission Director, J&K Skill Development Mission Dr. Syed Abid Rasheed Shah to discuss the implementation of various skill development training to be undertaken under Banking Financial Services Insurance (BFSI) sector in J&K for the youth of J&K.

Pertinent to mention that after signing of the MoU’s , the  Lieutenant Governor J&K had passed directions for prompt implementation of the initiative for providing gainful employment opportunities to the youth of J&K. 

Representatives of BSE Institute and senior officials of  J&K Mission Youth and J&K Skill Development Mission attended the meeting in which threadbare discussions were held on strategies for mobilisation and selection of the candidates who will undergo the BFSI trainings and later facilitated for jobs in the BFSI market. 

While highlighting the significance of this initiative, Dr. Syed Abid Rasheed Shah said, “It is a game changing project; this training course shall equip candidates with skills which are relevant as well as in demand in the BFSI sector.”

“This is a first in many ways, where the oldest stock exchange in Asia has come forward to provide an opportunity to the youth of Jammu and Kashmir. We will ensure that this program is gender inclusive and the selected candidates are provided this wonderful opportunity to train and generate employment for themselves and others in the financial sector,” said Dr. Syed Abid Rasheed Shah.

CEO, BSE Institute  Ambarish Dutta highlighted that the programme aims at imparting training to unemployed youth through BSE institute as per their aptitude and thereafter facilitating them in securing jobs in the ever expanding BFSI (Banking, Financial Services & Insurance) sector.

It was given out the candidates will undergo financial awareness programs and training , besides skill courses in Banking & Financial Markets and specialised programs in mutual funds that would enable them to enrol in the BSE Star Mutual Fund platform.

The CEO also divulged that J&K has 88 BFSI companies including banks, insurance, NBFCs and Micro Finance companies having about 1600 branches here. It was given out that these companies had an apprenticeship potential for more than 3000 youth and can also provide self employment opportunities to unlimited number of candidates.

While giving details about the eligibility and outcome of the program it was given out that the applicants will be mobilised by J&K Skill Mission & Mission Youth J&K after which they will will undergo aptitude test / Interview. The final selected candidates will undergo the training.

CEO, BSE Institute said, “BFSI sector is a potential sector for providing employment opportunities to the youth and in this regard, our Institute is at the forefront to handhold and train the youth.”

During the meeting, It was also decided that within next two weeks, candidates will be mobilised and selected for their participation in the program. In the first phase of trainings, a pilot program will be organised of 2 batches of 30 students each on courses such as Mutual Fund Executive, Insurance and Banking.

It is pertinent to mention that the BSE and Mission Youth JK had signed four memorandums of understanding with the Jammu and Kashmir government to spread financial awareness, support economic development and encourage sustainable livelihood of the youth in the Union territory.

Pertinent to mention that memorandums of understanding (MoUs) were signed by the representatives of the BSE and CEO, Mission Youth Dr, Syed Abid Rasheed Shah in the presence of the Lieutenant Governor  Manoj Sinha at Raj Bhawan, Jammu.