The Indian Institute of Banking and Finance (IIBF), formerly Indian Institute Of Bankers(IIB) imparts professional education in banking and finance. It is known for its flagship courses, 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 700 banks and financial institutions as institutional members and about 300,000 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 The London Institute of Banking & Finance is the oldest training and professional body for banking and financial services in England and Wales, and works internationally with partners to establish ethical and professional standards across the ...

to license and regulate those professionals who are known as

banker A bank is a financial institution that accepts 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 markets. Becaus ...

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 (1773–1950, 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 and after Indian independence in 19 ...

, the

Imperial Bank of India The Imperial Bank of India (IBI) was one of the oldest and the largest commercial bank of the Indian subcontinent, and was subsequently transformed into the State Bank of India in 1955. Initially, as per its royal charter, it acted as the cen ...

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 of the London Institute of Bankers, encouraged Indian bankers to start their own institute. A detailed discussion was held on the subject at the board room of the Bombay head office of the Imperial Bank of India 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.

Academics

The Flagship Courses of IIBF are JAIIB or its equivalent DBF and 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 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

The IIBF governing council consists of members/representatives from the

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible f ...

National Banks In banking, the term national bank carries several meanings: * a bank owned by the state * an ordinary private bank which operates nationally (as opposed to regionally or locally or even internationally) * in the United States, an ordinary p ...

, Regional Rural Banks, Apex Cooperative Banks,

Financial Institutions Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial insti ...

and

Private Bank Private banks are banks owned by either the individual or a general Partner (business rank), partner(s) with limited partner(s). Private banks are not incorporation (business), incorporated. In any such case, creditors can look to both the "enti ...

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