Federal Manipal School of Banking
About Federal Bank
The history of Federal Bank dates back to the pre-independence era. Though initially it was known as the Travancore Federal Bank, it gradually transformed into a full-fledged bank under the able leadership of its Founder, Mr. K P Hormis. The name Federal Bank Limited was officially announced in the year 1947 with its headquarters nestled on the banks on the river Periyar. Since then there has been no looking back and the bank has become one of the strongest and most stable banks in the country.
In fact we have been expanding organically over the past few months. We believe in extending our reach to our customers by making our services available to all, 24x7. We have Branches and ATMs across India in addition to the Representative Office at Abu Dhabi that serves as a nerve centre for the NRI customers in UAE. We are transforming ourselves, keeping our principles in tact, into an organisation that offers service beyond par. Being in the service industry we are conscious of our surroundings and what happens in the society.
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Manipal Global Education Services is the leading India-headquartered International provider of high-quality higher education services. Its ambit includes a wide range of higher education services to institutions in India, corporate training programs in partnership with leading enterprises, vocational training across a number of sectors, as well as technology-driven services in areas such as testing and education delivery. It also owns and operates university campuses in Malaysia, Antigua in the Caribbean, Dubai and Nepal. It services and supports over 3,00,000 students currently, many of them through its award-winning technology platform, EduNxt™.
Manipal Global Education Services believes that industry relevance is the key concept in career-focused education in India. This has led to the development of innovative partnerships, with City & Guilds UK to launch IndiaSkills, and, with leading Indian banks like ICICI Bank, Bank of Baroda, Punjab National Bank, Axis Bank, Federal Bank, Andhra Bank, Kotak Mahindra Bank, Indian Overseas Bank, Central Bank, Bank of Maharashtra, Corporation Bank, Allahabad Bank, ING Vysya Bank, Canara Bank, Dena Bank and others to establish academies of banking & finance. Its other strategic investments include MeritTrac, India's leading testing & assessment company, and iRize, a leading creator of the employment ecosystem in India.
The Federal Bank Limited and the Manipal Global Education Services joined hands to set up the Federal Manipal School of Banking (FMSB) to cater to the needs of training young, bright graduates in order to make them job ready for a career in Banking at Federal Bank.
On successful completion of the programme, the participants would be awarded a Postgraduate Diploma in Banking & Finance (PGDBF) by Manipal University and would be absorbed as Probationary Officers at Federal Bank.
About the Programme
- Rs. 2,500/- p.m. during the nine months Campus period
- Rs. 10,000/- p.m. during the internship period
The complete course fee is Rs. 3.30 lakhs (Rupees Three Lakhs Thirty Thousand only) plus service tax at applicable rates, payable in three equal installments within 7 days of the commencement of the first three trimesters. Bank will sanction an educational loan to desirous candidate as per the scheme for public, but at concessional rates.
Future Career Progression
Federal Bank offers one of the fastest career progression opportunities for deserving employees and a deserving candidate can expect to reach a top management position at a young age in his/her career.
All students after successful completion of the course will be awarded the "POST GRADUATE DIPLOMA IN BANKING AND FINANCE" from Manipal University and will be absorbed in the Bank as Probationary Officers in Junior Management Grade S-I and will draw a salary which is presently in the scale of `23700 – 980/7 – 30560 – 1145/2 – 32850 – 1310 / 7 – 42020. DA, HRA, CCA will be paid as per rules of the Bank in force from time to time depending upon the place of posting. Medical Aid, Hospitalization Scheme, Leave Fare Concession, retirement benefits and other perquisites will be admissible as per Bank's rules. On a cost to company basis the annual pay package for a Probationary Officer posted at Cochin including all the allowances, perquisites etc will be approximately Rs.7.45 lakhs.
The Bank will reimburse Rs. 1 Lakh plus interest of loan on completion of 5 years of exemplary service to the Bank's satisfaction, in respect of candidates who availed education loan for the course from the Bank.
Upon absorption in the Bank as Probationary officers in JMG/S-I on successful completion of their 1 year Post Graduate Diploma course in Banking and Finance, candidates shall be deployed in Branches / offices on an All India basis. The choice of branches / offices of the Bank will be as per the needs and business requirements of the Bank.