Indian Institute of Management, Calcutta, was established in 1961 as the first national institute for postgraduate and research management. IIM C is ranked 3rd by NIRF 2020 in management education and is among the top business schools in India. Over the years, IIM Calcutta has developed a reputation for imparting management education to students in tandem with technology and business practices. IIM C offers a 6-months Advanced Programme in FinTech and Financial Blockchain for Finance enthusiasts with leanings toward technology in the Financial Markets. Here we will start with the brief details about FinTech in India and then share all the information on the topic.
IIM Calcutta: State of FinTech and Blockchain in India
Before knowing about the Advanced Programme in FinTech and Financial Blockchain at IIM C, let us know the state of FinTech in India first. FinTech is a technology that companies, consumers, and business owners generally use to handle their finances better using unique algorithms on smartphones and computers. In India, the FinTech market was INR 1,920.16 billion in 2019 and should be around INR 6,207.41 billion by 2025.
The technology is already used by various sectors such as education, retail banking, investment management, non-profit organizations, etc. FinTech is also working towards the use of cryptocurrency such as bitcoins. The tech is in use at some of the famous companies such as Pwc India, Deloitte, NABARD, Kotak Bank, Ernst and Young, ICICI Bank, Infosys, Flipkart and many more.
Blockchain is a kind of database that stores data in the form of blocks, which have limited storage capacities, and once the block is filled, it gets attached to the previously filled forming chain, hence the name Blockchain. The extraordinary attribute of a Blockchain is that when the data is stored in it, it is impossible to change or cheat it.
It is a digital ledger of all the transactions distributed amongst all a network of computer systems. The use of Blockchain is very safe as each block has a full record of the data, and in case of any error, it automatically collects data from other blocks to correct itself. Some famous users of Blockchain include Walmart, Pfizer, AIG and Unilever, amongst others.
The Indian Government’s aim to promote cashless transactions is fueling FinTech and Blockchain’s progress in the Indian market. India and China were recorded to have the highest adoption rate of this tech into their markets.
The Indian market was slow on the uptake of this new technology into their everyday regime, and the banks were also somewhat sceptical of its use, but gradually there are opening up to the endless possibilities that FinTech will introduce to the digital market. FinTech and Blockchain have also found home with today’s tech-savvy generation, with the help of which these smartphone users can quickly and easily make their transactions.
IIM Calcutta: Advanced Programme in FinTech and Financial Blockchain
Very few universities offer the Advanced Programme in FinTech, and Financial Blockchain across the world and IIM C are one of them. The course will tentatively start from March 2021, and the details of the application and the know-how to apply can be checked from the official website.
This course’s main objective by IIM C is to train personnel who can then work in the FinTech industry. There are very few trained FinTech operators in the country, and due to regulatory issues, it has become increasingly difficult to hire foreign personnel to handle the job. That is the reason why it has become imperative to train the local talent to do the job.
There is a need to train more than 10,000 personnel per year to encourage the industry’s growth. So IIM Calcutta, in partnership with TalentSprint, has launched a 6-month advanced programme for individuals looking to start FinTech in their own organizations.
The programme by IIM Calcutta is very useful for individuals working at the middle or senior management level in their organization and is looking forward to integrating FinTech in their company. This course aims to cover all aspects of managerial and technical content so that in the future, the participants of the programme will play the role of leaders operating the FinTech projects in their respective firms.
IIM Calcutta: Advanced Programme in FinTech and Financial Blockchain (Duration)
The programme’s duration is only six months, where the sessions will be delivered in the hybrid format, i.e., interactive online sessions will be conducted through TalentSprint’s direct-to-device platform, and the rest will be delivered through face-to-face classes on the campus itself.
Advanced Programme in FinTech and Financial Blockchain – Fees
The program’s fees for the 6-month duration will be INR 3,75,000 as Domestic Programme Fee plus a campus fee of INR 16,000 will also be applicable to the applicant. The Advanced Programme in FinTech and Financial Blockchain by IIM C is designed to be highly interactive and will use technology to blend lectures, quizzes, assignments and real-life case studies into an interesting combination to learn from.
The programme offered by one of the top MBA institutes in India will help students to navigate through the basics of FinTech and will gradually progress to the advanced studies of the subject while associating it with the use of Blockchain.
Eligibility Criteria
This course’s eligibility criteria offered by IIM C to gain entry are a minimum education of 10+2+3 or equivalent/post-graduation in any discipline with a minimum score of 50% marks plus experience of at least 2 years post-graduation. The criteria for assessment shall depend upon the motivation behind their application as well as their educational and professional background.
IIM Calcutta’s Advanced Programme in FinTech and Financial Blockchain is mainly designed for individuals working in Insurance, Management, Banking, Financial Services and Consulting industries who are looking to start FinTech in their respective organizations.
FinTech aims to revolutionize the way people will handle their finances in the future as it offers personalized services to its customers in an easy way with just a click of their device. The use of FinTech will also open foreign investment in Financial Technology centred start-ups.
Fintech is very safe and secure that will promote trust in people to change their way of handling their financial operations and go digital for their everyday transactions. Hence, the need for such a course offered by IIM C is essential for management professionals who want to gain exposure in FinTech and Blockchain. In case you liked our blog, please like, share and comment.
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