New Delhi, December, 2023.

AICTE, (under the aegis of the Ministry of Higher Education) and National Skill Development Corporation (NSDC), (under the aegis of the Ministry of Skill Development and Entrepreneurship), the principal architect of the skill ecosystem in the country on Tuesday forged partnerships with Bajaj Finserv Ltd., one of India’s leading and most diversified financial services groups, to prepare young graduates for employment opportunities in the financial services sector.

Two MoUs were exchanged between NSDC and Bajaj Finserv, and AICTE and Bajaj Finserv in the august presence of Shri. Dharmendra Pradhan, Union Minister for Education and Skill Development & Entrepreneurship; Prof. Rajive Kumar, Member Secretary, AICTE; Ved Mani Tiwari, CEO, NSDC and MD, NSDC International and Sanjiv Bajaj, Chairman & MD of Bajaj Finserv. The ceremony was also attended by Kurush Irani, President Group - CSR and Pallavi Gandhalikar, National Head – CSR of Bajaj Finserv.

Speaking at the ceremony, Shri. Dharmendra Pradhan, Union Minister for Education and Skill Development & Entrepreneurship, said, he is glad to witness the signing of MoUs of NSDC and AICTE with Bajaj Finserv to prepare young graduates for employment opportunities in the financial services sector and the launch of a Certificate Program in Banking, Finance, and Insurance. The partnerships forged today will build competencies at scale in the financial sector and empower our youth to participate in the transformation happening in the financial and digital space. The Hon'ble Prime Minister’s vision of Viksit Bharat, the Voice of Youth program launched yesterday elicits the ideas of youth for a developed India, the role of skill development, and the financial sector in the making of a developed India. As Hon'ble PM has said, we are living in a world in which just having a degree is not enough and under his leadership, we are building a superhighway of knowledge and competencies. Our youth will play a key role in making of a Viksit Bharat driven by knowledge, competencies, skills, and the right attitude.

Prof. T.G. Sitharam, Chairman, AICTE expressed, the signing of MoU with Bajaj Finserv will further usher to new collaboration in education and industry-academia linkages. It will strengthen AICTE 's vision to bridge a gap between Industry and Academia. This partnership will roll out immense opportunities of education, internships and job trainings for students in finance, banking and insurance sector.

Ved Mani Tiwari, CEO, NSDC and MD, NSDC International said, India's financial sector has seen significant growth and development in recent years. We have witnessed huge advancements in banking, insurance, fintech, and other financial services. With this, At NSDC, our dedication lies in empowering youth by offering diverse opportunities through skill development initiatives. And partnering with Bajaj Finserv marks a strategic move towards aligning our skilling endeavours with the industry's changing in the financial sector. And I am certain, through the initiative, Bajaj Finserv will greatly broaden the horizon of its CPBFI program.

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv Ltd., said, India is entering an interesting phase of growth, matched by its promising demographics. However, the country faces a shortage of skilled workers, and the private sector has the opportunity to be one of the first responders to the situation. At Bajaj Finserv, we have identified youth skilling as a significant pillar of our social impact programmes. Our partnership with NSDC and the Ministry of Education will help us make a difference to young people by providing them with greater access to skilling which opens infinite possibilities of success. It will also build economic resilience and an inclusive workforce for the future, in line with the theme of Kaushal Bharat, Kushal Bharat.

Under the partnership, Bajaj Finserv will take forward skilling initiatives to build the capabilities of 20,000 candidates through its Certificate Program in Banking, Finance & Insurance (CPBFI), a 100-hour programme developed in collaboration with industry experts, training partners, educational institutions and psychological health institutes. CPBFI currently runs across 350+ colleges in 23 states, 100 districts and 160+ towns. It is aimed at nurturing skills, knowledge and attitude among graduates and MBA aspirants especially in tier 2 and 3 cities, enabling them to seek employability and take the right decisions related to their long-term careers in the financial services sector.

Both the partnerships focus on creating dynamic curriculum development that adapts to the ever- evolving landscape of finance, banking, and insurance and weave together the latest industry trends, technological advancements, and best practices into the curriculum. The partnership with NSDC will be elevated on Skill India Digital (SID)— comprehensive information gateway for all government-led skilling and entrepreneurship initiatives, ensuring that students are not just academically equipped but thrive in the practical realities of these sectors.

Through strategic industry partnerships will also be undertaken with esteemed banks, financial institutions, and insurance companies to foster invaluable opportunities for the students. These partnerships provide access to internships, on-the-job training, and a firsthand glimpse into the real- world industry practices. This will bridge the gap between classroom learning and industry demands, paving the way for a seamless transition into professional roles.

In addition to imparting domain knowledge, the collaboration also aims to enhance the confidence of candidates through cognitively designed communication and workplace skills. To date, CPBFI has trained and benefited over 40,000 students from tier 2 & tier 3 towns since inception.

AICTE under the aegis of the Ministry of Education has designated Odisha as a priority state. Consequently, the initiation of youth skilling programs will begin in the first phase across ten districts of Odisha where students will receive a joint certification accredited by Bajaj Finserv and Skill India.