NSDC to enhance skill training among youth in BFSI sector

Course details
Duration One Month
Age 18-28 (Male /Female)
Training Location Dilsukhnagar Metro station backside
Organised by NGO - MARS
Trainer Real-time Expert Trainer
Date 06 Jan 2020
Time 10am to 1pm & 2pm to 5pm
Certification National Skill Development Corporation

The National Skill Development Corporation (NSDC), an executive arm of the Ministry of Skill Development and Entrepreneurship, plans to enhance skill training among youth in the Banking, Financial Services and Insurance (BFSI) sector. With order to develop India's unskilled and semi-skilled labour pool into a productive and skilled workforce, the NSDC has collaborated with the Dewan Housing Finance Corporation Limited (DHFL).

The NSDC's affiliated training partners will conduct trainings and lead the successful implementation of the project. It aims to bridge the need of aspirants who are deprived of opportunities due to financial constraints and those who are unable to access 'new economy' jobs. With an objective to strengthen the skill development ecosystem, the collaboration entails a target of 800 candidates belonging to underprivileged and vulnerable families to be trained in one year.

The NSDC's training partners shall be responsible for the entire training process including mobilisation of trainees, their retention, conduct of training programmes by qualified trainers and placement opportunities. The NSDC will also ensure hand holding of potential candidates for their self-employment opportunities in the sector. Further, the NSDC will work closely with Banking, Financial Services and Insurance Sector Skill Council (BFSISSC) to provide support for content, curriculum, mapping of current industry demands. It will also ensure compliance according to the National Skills Qualifications Framework (NSQF). The NSDC will also facilitate training of the trainers by the BFSISSC. The designated assessors from the Sector Skill Council (SSC) will undertake the assessment and certification of the candidates.

Commenting on the partnership, NSDC MD and CEO Manish Kumar said, "NSDC is focused on creating an inclusive society with training and development opportunities for all including women. This would ensure a long term sustainable growth and economic prosperity for our country. Private sector contribution in this endeavour is critical, as it would help us in scaling up the vocational training ecosystem in India and improving livelihood opportunities for our youth." The NSDC is one of its kind in the public-private-partnership sector with an objective to facilitate skill training in partnership with private training providers. To date, the NSDC has approved more than 350 training providers and 39 SSCs, with a geographical spread of over 7,000 training centres in more than 600 districts across the country. The NSDC has trained more than 1.4 crore people across sectors.

Banking, Financial Services and Insurance (BFSI)

Our service offerings for the BFSI industry
Banking, Financial Services and Insurance (BFSI) is set to grow exponentially in India due to the rising per capita income, introduction of new products, innovation in technology, expanding distribution, networking and increasing customer awareness of financial products. BFSI Industry has seen bold reforms in the last 15 years and will continue to be a top priority focus industry for India’s economic development based on inclusive growth.

Opportunities and Challenges:

  1. BFSI industry is set to grow significantly in the coming years due to India’s economic expansion and growing awareness among the population of these financial products / services
  2. New and wider products will provide immense opportunities to develop niche areas
  3. The industry has adopted IT as an integral part of business strategy, where RSM is well positioned to provide various services on such IT platforms
  4. High supervision by regulators will require constant vigilance and need to adopt measures to mitigate risks based on various control measures including ‘Risk Based Audits’ (RBA) as provided by:
  5. The Reserve Bank of India in its RBA guidelines to banks
  6. The Insurance Regulatory authority of India (IRDA) to the insurance industry
  7. Securities Exchange Board of India (SEBI) for the mutual fund industry


How we can help:

  • Concurrent audit of Central Processing Centre
  • Concurrent audit of Regional Processing Centre
  • Concurrent audit and Internal audit of Branch Operations
  • ‘Know Your Customer’ (KYC) audit
  • Trade Finance audit
  • Operations Manual compilation job
  • Retail Liability audit
  • Manpower assessment services
  • ERM Framework designing services
  • Retail Assets audit
  • Depository Participant audit
  • Certification Report (A1 & A2 Forms for Forex)
  • Certification Report for Central Depository Services Limited
  • Certification Report for National Depository Services Limited
  • Stock audits on periodical basis
  • Audit of hypothecated securities on a periodical basis
  • SOX audits / reviews for selected branch operations areas


Concurrent audits: Concurrent audit is examinations which is contemporaneous with the occurrence of transactions or is carried out as near thereto as possible.

It attempts to shorten the interval between a transaction and its examination by an independent person not involved in its documentation.

Concurrent audit is essentially a management process integral to the establishment of sound internal accounting functions and effective controls and setting the tone for a vigilance internal audit to preclude the incidence of serious errors and fraudulent manipulations.

Concurrent audits conducted by us include:

  • Compliance review for ‘Know Your Customer’ (KYC) guidelines issued by the regulators
  • Review of all major ‘TAT’ (Turn Around Time) compliance set for major operational transactions
  • Identification of ‘Revenue Leakages’ due to incorrect income realization (incorrect interest recovery, short or non recovery of charges or penalties, etc.)
  • Continuous monitoring of systems and procedures including IT systems
  • Review for compliance to all major regulatory requirements as applicable to banking and financial industry
  • Review for compliance of the relevant Operational Manual applicable to various functions and reporting exceptions, if any and covers the following:
  • Corporate Banking and Trade Finance (Bill Discounting, Bank Guarantees, Packing Credit, Import and Export Remittances, etc.)
  • Retail Liability (Current Account, Savings Account, term deposits, etc.)
  • Retail Assets (Home Finance, Agricultural Finance, Personal Overdraft, etc.)
  • Cash Management services
  • Depository Participant Services
  • Credit Administration
  • Small and Medium Enterprises (SME) Finance

Advantage RSM: RSM in India is consistently ranked amongst India’s top six accounting and consulting groups and globally RSM is the seventh largest audit, tax and consulting network
We have some of the major private, foreign and public sector banks as clientele
Large projects handled for Central Processing Centre (CPC) and Regional Processing Centre (RPC) at top private and foreign banks
Extensive experience in catering to the financial services sector in advisory, taxation and accounting matters across functions and geographies
Multi-disciplinary team of professionals comprising of Chartered Accountants, Management Graduates, Engineers, Company Secretaries, CISA / DISA, Cost Accountants and Law graduates

NSDC to enhance skill training among youth in BFSI sector