Coimbatore’s education sector is expanding to have institutes for niche programmes. A city known for the large number of engineering and arts and science colleges got an institute a decade ago to offer textile related programmes. On Monday, Banker’s Quotient opened its academy here, jointly with RVS Group of Educational Institutions, to train bankers.

M. V. Nair, Chairman of Banker’s Quotient, told presspersons here on Monday that the institute was set up to build skills among bank officials at different levels. It had the capacity to train 500 officers and this would be increased to 1,500 in a year. The faculty would include experts from the banking sector and soft skill providers.

The banking industry proposed to recruit seven lakh people in the next 10 years. They need to be trained and the banks do not have the facilities to train all the new recruits. Further, it was imperative to have training for middle level officers too. The academy would meet these demands. It would train officials from public, private and new generation banks and would have agreements with the banks. While the investment for infrastructure was from the RVS Group of Educational Institutions, the resources were from BQ Academy, he said.

M.V. Tanksale, Chairman and Managing Director of Central Bank of India, who inaugurated the institute, said that the 1970s were a period of recruitment by banks. Now the retirements were high and this should be addressed with new recruitments. Further, the customers were more informed and it was essential to have adequate training for the officials. Nearly 800 officers joined the bank last Monday and they were all getting training in different centres across the country, apart from its own training facility. The bank had 37,000 employees and it was spending nearly Rs. 15 crore this year to train them. The outlay for training would go up as it helped improve productivity.

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