SIFL’s objective is to deepen financial expertise across the country. As the economy grows and gets more formalized, and as the geography gets more urbanized, the demand for sophisticated financial institutions are rising sharply. To expand capacity, we need well-trained personnel in banking and finance. SIFL aims to contribute towards creating a new generation of bankers and financial managers who are up to the challenges of the modern economy.
The macro challenges are many: An increasingly globalized financial system, financial inclusion from Jan Dhan accounts, tackling funding havens for terrorism, understanding differential tax regimes, reviewing the moving goalposts of regulators and more.
Technology has also become an indispensable part of the industry. Response times have shrunk and expectations from consumers in the midst of stiff competition have risen. In the backdrop of these challenges, the skill gap—what is required of managers and what is available— has become stark.
To plug these skill gaps, we need all hands on deck, whether it is the government, private sector, or civil society. In fact, the report by the Reserve Bank of India specifically states, “banks may consider the possibility of outsourcing various training activities including management of their training institutes.” This is where SIFL steps in.
SIFL helps various governmental and non-governmental financial institutions deepen the expertise of its employees and do so at a large scale. It provides opportunities to learn and upgrade skills sitting in your workplace or at home. It runs online and in-person training modules, carefully designed courses and seminars, both for organizations and for open enrollment. Topics covered include an overview of macroeconomics and banking, retail and commercial banking, financial inclusion, priority sector lending, treasury operations, managing foreign exchange, life and non-life insurance, and more.