BFSI driving India’s youth
The financial sector, one of the largest sectors in any nation, is also one of the most important gauges of an economy's growth. In recent years, the happenings around the world have demonstrated that even the world's largest economies are not immune to turmoil; however, amidst all this, India has sustained its annual growth rate of 8% over the past four years, greatly aided by the development in the financial sector.
A major chunk of this growth can be fairly attributed to the BFSI (Banking, Financial Services and Insurance) sector that makes up approximately 90% of the overall financial industry.
Over the past several years, India has displayed exceptional performance in the Banking, NBFC, Mutual Fund and Insurance industries, which in turn has created huge opportunities for both growth and employment. The population is expected to touch 1.5 billion by 2020, resulting in a rising number of employable youth. There are currently around 120 banks in India, and the BFSI sector is likely to create up to 20 lakh new jobs in the next 5-10 years.
The Government of India has emphasised time and again that a resource such as human resource is a treasure trove for any country. However, some barriers and issues exist that must be resolved. It is imperative that the employable youth is provided sufficient training to be able to sustain and grow in the various industries they operate in. This is particularly true for the BFSI sector, where the youth is not only striving for growth, but also understands the needs of the industry and adapts accordingly.
In a nation of youth with growing aspirations, TimesPro has shown the intent and made an effort similar to that made by the Government of India. We at TimesPro conducted our first ever Student Annual Convocation (TASC). In addition to marking our efforts in the education sector over the past three years, this event also signified the institution's commitment towards enhancing talent and creating opportunities for the youth of this country.
"TimesPro set for itself the audacious vision to fulfil aspirations of millions of learners, by making excellence accessible, through learner-centric innovations and global collaborations," said Anish Srikrishna, President, Times Centre for Learning Limited. He spoke about the ambitions of TimesPro that has 21 learning centres across the country, through which, it reaches out to its students. Srikrishna further emphasised the importance of learner-centricity and technology - themes that will dominate the future of learning.
Our vision is well reflected among the 250 students who were felicitated at the event. These students are well placed in some of the best financial institutions in the country and are few of the many individuals who have successfully demonstrated the willingness to learn and grow.
Chief guest Arnab Goswami, President & Editor-in-Chief, Times Now & ET Now, shared some of his learnings in the last decades or so when he built his news organisation from scratch.
While he joked about not knowing anything about the BFSI sector, his views offered the students definite food for thought. He spoke about several instances and the learnings he gained from them - all of which would help the students who are now a part of the employed generation. His thoughts on disruption and constant growth were well received by the students, who are now aiming at growing in their positions at organisations such as HDFC Bank, YES Bank and Kotak Securities.
Overall the convocation ceremony ended on a positive note with smiling faces and memories etched forever.