B.Com Banking and Insurance: Course Details, Eligibility, Fees, Admission

Lisha Gupta

B.Com Banking and Insurance is a three-year full-time undergraduate program that deals with studying various banking and insurance aspects. It is a mix of banking and insurance training and soft skills like communication and public relations. This course is designed to prepare skilled graduates for dealing with various industrial challenges. It offers ample job opportunities in the Banking and Insurance industry. Upon completing the course, students can work as Accountant, Broker, Cashier, Credit Risk Manager, Auditor, Equity Research Analyst, Loan Officer, Market Analyst, Sales Officer, Sales Manager, etc.

About B.Com Banking and Insurance

The Bachelor of Commerce in Banking and Insurance is an undergraduate program designed to give students knowledge on various aspects of banking and Insurance. It is a course in commerce specializing in banking and Insurance. B.Com in Banking and Insurance provides students with specialized insights into accountancy, finance, banking, Insurance, and microeconomics in business. According to Investopedia," Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company." This course has incorporated the significant changes that have taken place in the global financial architecture and the new products and technology that have invaded the banking sector. This course prepares students for the industry and gives practical training.

Eligibility Criteria for B.Com Banking and Insurance

B.Com Banking and Insurance admission is offered to only those students who meet the eligibility criteria. B.Com Banking and Insurance eligibility is, students must pass 10+2 or any other equivalent examination from a recognized board with an aggregate of at least 50%. In addition, students must have studied any stream from Commerce/Science/Arts in 10+2. Students' age must be below 25 years. Students should additionally pass the entrance exams conducted by the colleges for admission.

How To Get Admission in B.Com Banking and Insurance?

For pursuing B.Com in Banking and Insurance, students must make sure that they satisfy the eligibility criteria. In addition, students should have good marks in 10+2 for merit-based admission and sound performance in entrance exams for entrance exam-based admissions. The admissions for B.Com Banking and Insurance can be based on two ways. While some colleges offer merit-based admissions, some colleges conduct entrance exams for admissions. Applications for admissions may be availed both from the University website or by directly visiting the college's Admissions Office. 
The course falls under the umbrella of B.Com and therefore the admission process does not change drastically for the students. Mentioned below are the details of the admission process in general:

How to Apply?

B.Com Banking and Insurance course information for admissions can be found on the college's official websites in which the students want to apply. Admission registration can be carried out through online and offline methods. Students must visit the college campus for offline admissions, fill out the application form, collect the brochure, and submit all the required documents. For online applications, students should visit the college's admission website and fill out the application form. The submission of the application fees can be made via online money transfer or through cheques/demand drafts from the bank. On submission of the application form, students will receive further correspondence from the college. Before filling the application form, students must ensure that they satisfy the eligibility criteria for the course. 

Selection Process

The selection process for the B.Com in Banking and Insurance course in India is primarily based on the aspirant's 10+2 academic marks, i.e., merit-based. Admission will be strictly offered to only those students who clear the minimum cut-off of the respective college and fulfill the eligibility criteria. Some colleges conduct entrance exams for admissions. The admit card and other details regarding the exam are notified on the college website beforehand. The students are informed about the results through email communication or visit the colleges' official website.

Read More on B.Com Admission

Popular Entrance Exams for B.Com Banking and Insurance

Some of the top colleges offering B.Com Banking and Insurance courses in India have an entrance exam-based admission process. With the help of entrance exams, colleges assess the students and screen out suitable students from all the applicants. Some popular entrance exams for B.Com Banking and Insurance are:

• CUET
• DU JAT
• IPU CET
• JET

A Quick Glance at the B.Com Banking and Insurance Entrance Exams

Students who desire to opt for B.Com in Banking and Insurance should study the exam pattern and syllabus well before time. This will help students in timely preparation for the entrance exams. In general, a common examination pattern is followed by colleges which is as:

• Total 100 questions in MCQ format
• The total time for attempting the questions is 2 hours or 120 minutes
• Entrance exams cover different sections, like Quantitative Ability, Reasoning and Analytical Ability, General English, Business and General Awareness 

Top B.Com Banking and Insurance Colleges in India

Some of the top B.Com Banking and Insurance colleges in India are: 

Fee Structure for B.Com in Banking and Insurance

The B.Com Banking and Insurance fees for various colleges in India is around INR 1- 5 LPA. The course fees may vary based on the institute, infrastructure, teaching methods, faculties, and facilities available. 

Syllabus and Subjects for B.Com in Banking and Insurance

B.Com in Banking and Insurance syllabus is curated to include the concepts of Banking and Insurance system. The syllabus is composed of theoretical subjects dealing with Commerce and Banking. Upon completing the course, students can become Accountant, Broker, Cashier, Credit Risk Manager, Auditor, Equity Research Analyst, Loan Officer, Market Analyst, Sales Officer, Sales Manager, etc. B.Com Banking and Insurance duration is three years with six semesters. Listed below are few core subjects in the course:

• Principles and Practice of Banking
• Insurance Law and Practice
• Business Management
• Financial Accounting
• Cost Accounting

Read More about B.Com Banking and Insurance Syllabus and Subjects

Why Choose B.Com in Banking and Insurance?

Students many times wonder about B.Com in Banking and Insurance details before choosing the course. Before deciding on a career, students need to ask, "What is B.Com in Banking and Insurance?" and "Why choose B.Com in Banking and Insurance?". To discover answers to these questions, we have framed the following three questions:

What is B.Com Banking and Insurance All About?

B.Com with Banking and Insurance is a three-year-long undergraduate course that enhances the understanding of banking and insurance business in the world economy. The course is well organized to make students valuable finance, accounting, banking, and insurance professionals. The students are trained to handle various technologies employed in the banking and insurance sectors. B.Com in Banking and Insurance includes theoretical and practical based knowledge of banking and insurance systems. Upon completing the course, the students can pursue careers as Accountant, Broker, Cashier, Credit Risk Manager, Auditor, Equity Research Analyst, Loan Officer, Market Analyst, Sales Officer, Sales Manager, etc.

What Does a B.Com Banking and Insurance Graduate Do?

Banking and Insurance are two sectors that are fast evolving and witnessing a transformational change. B.Com in Banking and Insurance offers a wide range of career options for graduates in both private and public organizations. Upon completing B.Com in Banking and Insurance, students can work in various areas like banks, investments, the insurance industry, savings and loan association, etc. Students can also opt for higher studies in M.Com or other related degrees and capture a more strong knowledge of the related banking and insurance subjects.

Bank Clerks: Bank clerks are responsible for completing various tasks related to data entry, bookkeeping, and log-book maintenance. They are hired in different departments of the bank like accounts, exchange, loan, securities, administration, etc.

Reasons Why B.Com Banking and Insurance Can Fetch You a Rewarding Career?

B.Com Banking and Insurance can be a rewarding career for graduates looking for competitive salaries and excellent benefits. Banking is one of the most sought-after disciplines with numerous career opportunities. Banking and Insurance jobs are high-paying, and salaries rise with experience and expertise. Moreover, a higher degree in B.Com Banking and Insurance can earn extra profitable opportunities. This course opens many prospective career options in banks, investments, the insurance industry, savings and loan associations, etc.

Demand: Banking and Insurance positions are increasing faster than other jobs around the world. According to the Bureau of Labor Statistics data, jobs in the banking sector are to grow by 15%, which is much faster than average. From managerial and consulting jobs in the Government sector and MNCs to self-employment as Chartered Accountant, Company Secretary, Finance Consultant, Entrepreneurship, the Banking and Insurance sectors have employment opportunities for all. 

Read More about B.Com Banking and Insurance Jobs

Preparation Tips for B.Com Banking and Insurance

B.Com in Banking and Insurance is an upcoming career option, and students should be well prepared before pursuing the course. Some of the important tips for students seeking admission in B.Com Banking and Insurance are:

Practice Regularly: Enhance your knowledge of banking and insurance concepts by doing regular practice.

Study about the Course: Do a detailed study of the course and its subjects. Choose the best-suited career option for you after study.

Improvise Your Skills: For grabbing the best opportunities and good performance throughout the course, improve your analytical and logical skills and learn new subjects. Also, enhance your spreadsheet and excel skills. 

Scope For Higher Education

Ample of opportunities and career alternatives are available for B.Com Banking and Insurance graduates. Students can opt for a job or higher education depending upon their skills and interests. B.Com Banking and Insurance offers opportunities in many sectors like Banks, Budget Planning, Business Consultancies, Educational Institutes, Investment Banking, etc. Some of the higher education courses that students can opt for after completion of the program are as such:

• M.Com in Finance
• MBA
• PGDM
• CA

Salary of a B.Com Banking and Insurance Graduate

B.Com Banking and Insurance graduates can work as professionals in accounting, finance, banking, and Insurance. This course offers ample opportunities to students both in terms of job and higher education. With a B.Com Banking and Insurance degree in hand, students can work as Chartered Accountant, Investment Banker, Investment Analysts, Budget Analysts, Business Consultants, Business Operation Manager, Certified Public Accountants, etc. In addition, graduates can find jobs in both private and govt. Corporations. The average salary for B.Com Banking and Insurance freshers is INR 2-5 LPA (Source: PayScale), which would increase with the experience and skills.

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Career Options After B.Com Banking and Insurance

Banking and Insurance are two sectors which are fast evolving and witnessing a transformational change. Banks are the backbone of all activities, because every transaction where money is involved, the bank is the main character. Insurance business is one of the prominent financial services in modern times. Various jobs are available in both public and private organizations for B.Com Banking and Insurance graduates. Students can get jobs in various Business Consultancies /agencies, Educational Institutes, Public Accounting Firms, Policy Planning, Foreign Trade, Banks, Budget Planning, Inventory Control, Merchant Banking,  etc. Students can also pursue higher studies or any other professional certificate courses. Some job roles offered to graduates are:

• Auditors
• Actuaries
• Bookkeepers
• Finance Managers
• Financial Analyst
• Human Resource Managers
• Investment Banker
• Investment Broker
• Investment Analysts
• Budget Analysts
• Business Consultants
• Business Operation Manager
• Certified Public Accountant
• Chartered Management Accountant

Skills That Make You The Best B.Com Banking and Insurance Graduate

B.Com Banking and Insurance graduates should demonstrate good mathematical and problem-solving skills. They should be good at numbers and should come up with innovative ideas for businesses in saving money. A few necessary skills for B.Com Banking and Insurance graduates are:

• Problem-Solving Skills
• Proficiency in Microsoft Office software suite
• Strong Communication Skills
• Excel spreadsheet skills
• Good Managerial Skills
• Strong Mathematical Ability

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B.Com Banking and Insurance Fee Structure