Institute for Development & Research in Banking Technology [IDRBT]
The Institute for Development & Research in Banking Technology [IDRBT] was established by the Reserve Bank of India in March 1996 as an Autonomous Centre for Development and Research in Banking Technology.
National Institute of Financial Management (NIFM)
The National Institute of Financial Management (NIFM) an autonomous institution under Ministry of Finance, Government of India, is Centre of Excellence specializing in capacity building of professionals in the fields of Public Policy, Financial Management and other governance issues for promoting highest standards of professional competence and practice.
Institute of Actuaries of India (IAI), Mumbai
Actuary means a person skilled in determining the present effects of future contingent events or in finance modelling and risk analysis in different areas of insurance, or calculating the value of life interests and insurance risks, or designing and pricing of policies, working out the benefits recommending rates relating to insurance business, annuities, insurance and pension rates on the basis of empirically based tables and includes a statistician engaged in such technology, taxation, employees’ benefits and such other risk management and investments and who is a fellow member of the Institute.
Traditional responsibilities of Actuaries in life and general insurance business include designing and pricing of policies, monitoring the adequacy of the funds to provide the promised benefits, recommending fair rate of bonus where applicable, valuation of the insurance business, ensuring solvency margin and other insurance risks like legal liability, loss of profit, etc. They also define the risk factors, advise on the premia to be charged and re-insurance to be purchased, calculate reserve for outstanding claims and carry out financial modelling. An Actuary works as consultant either individually or in partnership with other Actuaries in multi-disciplines likfe insurance, information technology, taxation, employees benefit, risk management, investment, etc. Evidently, the scope of the functions and duties of an Actuary has increased considerably under the changed conditions.
National Insurance Academy
National Insurance Academy (NIA), Pune, is a premier institution devoted to equip the insurance industry with the best of talents. NIA was established in 1980 jointly by the Ministry of Finance – Government of India, Life Insurance Corporation of India, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company, United India Insurance Company and The Oriental Insurance Company.
2. Ph.D. Research Centre: National Insurance Academy is recognized Research Centre of Savitribai Phule Pune University.The Research Centre was established in the year 1992 under Pune University for the faculty of Management.
NSE Academy promotes financial literacy as a necessary life skill. NSE Academy’s initiatives, including partnerships with state and national school boards and schools, interactive courses on personal finance and certification programs, teach school children, homemakers and other non-finance professionals the value of investing, provide an introduction to the Indian capital markets and help to develop new market professionals.