THE INDIAN INSTITUTE OF BANKERS

The Indian Institute of Bankers is a professional body of banks and financial institutions established on 30th April 1928 as a Public Limited Company under the Companies Act 1913. The initiative to establish the Institute was taken by eminent bankers, businessmen and leading industrialists.

The mission of the Institute is to develop professionally qualified and competent bankers, primarily through a process of training, examinations and continuing professional development programme.

The main objects of the Institute as given in its Articles of Association are as under :

1. To encourage the study of theory and practice of banking for that purpose to institute a scheme of qualifying examinations and to award certificates, scholarships, prizes, etc.

2. To promote information on banking and other related subjects through lectures, discussions and other educational and training programmes which may be organised from time to time for the benefit of practising bankers and members in general.

3. To organise library facilities and provide facilities for reading and research in the area of banking and other related subjects.

4. To provide means of social intercourse between persons engaged in or connected with the business of banking.

5. To support and protect the character, status and interest of persons engaged in or connected with the business of banking generally.

6. To collect and disseminate statistics and other data related to the business of banking and relevant to banking industry in general.

The institute is managed by the Council comprising of Chairman and Managing Directors of banks and other eminent personalities in the field of banking and finance. The day to day activities of the institute are managed by the Chief Executive Officer of the Institute, who is assisted by nearly 200 employees. cThe Indian Institute of Bankers is perhaps the largest Institute of Bankers in the world in terms of membership. The total individual membership of the Institute is well over 7,00,000. There are also 750 Institutional members.

About 1,50,000 members appear each year for the Institute's examinations. So far more than 1,10,000 members have acquired the professional qualifications of the Institute.

The Institute is funded by contributions from member banks and financial institutions apart from the fees from individual members.

Till the late 80's the Institute had mainly confined its role to merely conducting examinations. Since then the activities of the Institute have been expanded keeping in view the mission of the Institute, the environmental changes and expectations of banks and bankers from the Institute.

The Institute has taken few steps to reorganise and reposition itself to respond to the demands of the banking community with a view to improving upon the existing professional qualifications, introducing new examinations and providing support facilities for such activities. The present initiative to offer MBA Banking through SOMS, IGNOU is a step in that direction.