BCom in Banking and Insurance: Course Details, Fees & Job Scope

What is B.Com in Banking and Insurance?

B.com in Banking and Insurance is an interesting specialisation which gives a good start to a career in the sectors of Banking and Insurance. Banking and Insurance are closely related to each other and are often offered in combination. In banking, subjects like banking laws, retail banking and digital banking are taught.

In insurance, subjects like general insurance and underwriting are taught to the students. Students interested in practical-oriented specialisations like accounting and finance also choose Banking and Insurance.

Banking and Insurance is a perfect balance between theoretical knowledge of the banking laws and practical knowledge, like insurance products and services.

There are many private as well as government banks in India which actively recruit students with specialisation in Banking and Insurance for their core operational roles. 

B.Com in Banking and Insurance Key Highlights

Why Should You Pursue B.Com in Banking and Insurance?

1. Many opportunities in the public as well as private sectors are available, such as RBI, SBI, HDFC or ICICI Bank.
2. Many foreign-owned banks, like Citibank, hire young Indian talent with specialisations in Banking and Insurance to work for them. 
3. Studying Banking and Insurance makes you an informed and active participant in the market and society. 
4. There is much more career stability in the field of Banking and Insurance, as banking is a core function of any economy, and foreign jobs are readily available in the sector.
5. In India, the insurance market is also growing and becoming innovative, where you can get a chance to use your skills to really make an impact. 
6. It is a subject where you can relate things to real and practical life, such as principles of insurance, so learning Banking and Insurance would be much easier and more interesting.

Admission Process

The admission process for B.Com in Banking and Insurance is a standard one, which is there for other specialisations as well. 

1. Registering for the entrance exam after class 10 + 2 is the first step. 
2. Appearing in the entrance exam and getting a good score would be the second step. 
3. Applying to different institutions based on criteria like affiliation, rankings, specialisation, fee structures, location and placement statistics would be the next step.
4. A seat allocation system is developed by Institutions and used to select students for filling up the seats in different courses, including B.Com in Banking and Insurance. 
5. At the final step, you need to pay the fee.

Fees Structure

1. B.Com is an affordable course and hence sees the moderate fee range as compared to other courses like Engineering or medical. 
2. In a government college like some of the most popular Delhi University colleges, like SRCC, Hindu or Hansraj, you can complete your B.Com degree within 1 lakh. 
3. In the private colleges, the fee could be as high as 5 to 10 lakhs for the total course. 
4. Make sure that you make use of the scholarship facilities available to the students of both government and private colleges.

Eligibility Criteria

1. After completing class 10 + 2, you become eligible to apply for B.Com in Banking and Insurance. 
2. Mostly commerce students pursue the specialisation. In fact, in reality, there is no restriction on students from a science or humanities background to pursue B.Com in Banking and Insurance.  
3. Appearing and getting a good score in the entrance exam, most probably the CUET UG, is another important eligibility criterion for getting admission into the B.Com in Banking and Insurance. 

What Are The Career Options After B.Com in Banking and Insurance?

1. Apply and appear for examinations like RBI Grade B, SEBI, NABARD or any other regulatory bodies. 
2. Take up a corporate job with banking and insurance companies like HDFC Bank, ICICI Bank, Axis bank or insurance companies like Muthoot Finance, ShriRam Finance, etc.
3. Work as a financial consultant by providing financial services to the clients, charging a commission or fee for the services provided. 
4. Starting your own startup in the field of insurance to provide services. Studying subjects like marketing, Human Resource Management, accounting, and organisation behaviour in B.com will give you the necessary skill set to run your own business. 
5. Pursuing a professional course or getting professional certification to practice is another career option. 
6. Pursue M.Com to become a professor.

Check Out Other Specializations of B.Com

• BCom in Investment Management
• BCom in Economics
• BCom in Finance
• BCom in Banking and Insurance
• BCom in Computer Applications
• BCom in Financial Market Course