The Indian Institute of Banking and Finance (IIBF) is a registered company which provides education in banking and finance. It is called for its flagship courses, the Junior Associate of Indian Institute of Bankers (JAIIB) and the Certified Associate of Indian Institute of Bankers (CAIIB). With its membership of over 700 banks and financial institutions as institutional members and about 300000 of their employees as individual members, IIBF is the biggest Institute of its kind in the world.
The institute was launched in 1928 as the Indian Institute of Bankers on the model of the London Institute of Banking and Finance to train bankers and finance professionals. In 1925, with the guidance of Sir Basit Blackett, the finance member in the executive council of the Viceroy of India, the Imperial Bank of India wrote a letter to The London Institute of Bankers requesting the bank to cover questions on Indian banking in the institute’s examinations failing which banks in India would have to start their own institute.
In a feedback dated 25 October 1925, Ernest Sykes, the Secretary of the London Institute of Bankers, encouraged Indian bankers to start their own institute. An explained discussion was held on the subject at the boardroom of the Bombay head office of the Imperial Bank of India on 12 March 1927 and the Indian Institute of Bankers was established as an outcome on 30 April 1928 with Sir Norcot Warren, Managing Governor of the Imperial Bank of India as the first President. Sir Warren retired sooner afterward and was succeeded by Sir Norman Murray. The first general meeting was called at Bombay on 9 July 1928 and the institute conducted its first associate examinations between 6 and 13 April 1929. A total of 89 candidates appeared for the examination of whom, only one, T. M. Srinivasaraghavan of the Imperial Bank of India, Cuddapah cleared both parts of the two-part examination.
- The Flagship Courses of IIBF are JAIIB or its equivalent PG Diploma in Banking & Finance (DBF) and CAIIB.
- Other courses offered are:
Diploma in Treasury Investment & Risk Management, Diploma in International Banking & Finance, Diploma in Banking & Technology, Diploma Examination for Micro Finance Professionals, Diploma in Comm Derivatives for Bankers, Advance Diploma in Urban Co-operative Banking, Diploma in Advanced Wealth Management and several Certificate programs.
The pedagogy of Distance Learning offered by the management is (i) publishing specific courseware for each paper/examination; (ii) publishing workbooks; (iii) tutorials through accredited institutions; (iv) contact classes; (v) virtual classes; (vi) e-learning through portal; (vii) campus training for selected courses, etc. The courses are taken to be comprehensive as well as exhaustive and recognized as the best in the field in India.
The IIBF governing council comprises of members/representatives from the Reserve Bank of India, public sector banks, private and foreign banks, important finance-related bodies etc. The Education and Research Committees of the Institute consist of eminent practitioners in the field. Shri Ashwani Kumar, also chairman of Dena bank is the current president of IIBF.