BASIC Academy Aims To Train And Employ 5,000 Graduates In Over 3 Years – News18

BASIC Academy, an initiative by fintech start-up BASIC Home Loan, aims to train and upskill 5,000 graduates over the next three years. The academy will focus on preparing college graduates for careers in the mortgage industry, aligning with government initiatives such as “AtmaNirbhar Bharat” and the “Skill India Mission” with a particular emphasis on the Banking, Financial Services, and Insurance (BFSI) sector.

BASIC Academy will offer a specialised 8-week programme that will provide comprehensive training and guidance to young graduates who want to start a career in the BFSI industry. The programme will take a 360-degree approach, combining classroom and field training with expert sessions from sectoral leaders. Following that, there will be four weeks of on-the-job training designed to provide practical, hands-on experience.

In its initial phase, BASIC Academy will concentrate on training graduates in tier 2 and 3 cities, commencing with North India. The classes will be conducted in both Hindi and English languages. Prospective candidates interested in the course can apply by completing the online form available at basicacademy.in.

“With the home loans industry poised to double in size, projected to grow from 300 billion to 600 billion dollars in the next 3-4 years, the surge in job openings underscores the critical importance of upskilling to meet the growing demands of the sector,” founder of BASIC Home Loan, Atul Monga, said.

“At BASIC Academy, we are looking to upskill 1,000 early-stage professionals in 2024 and 5,000 of them within the next 3 years. We want to be their mentors and partners for career development in the BFSI sector. This all aligns with our vision of India achieving its skill development goals, important for the transition of our economy from a developing to a developed one,” Atul Monga added.

Furthermore, BASIC Academy will seek to place these young professionals with either the parent company, BASIC Home Loan, or one of its partner banks.

BASIC Home Loan currently has a network of over 12,000 agents, a presence in 650 districts, and 70+ financing partners. Over the last decade, India has seen significant progress in skill development. According to the Department of Economic Affairs (DEA)’s January 2024 economic review, graduating and penultimate-year students’ employability has improved significantly. The proportion of these students considered employable has increased from 33.9 per cent in 2014 to 51.3 per cent in 2024.

BASIC Academy was founded in 2024 as a subsidiary of the fintech venture BASIC Home Loan. The company aims to close the skill gap in the mortgage industry by offering tailored cohort-based programmes. These programmes include classroom instruction, practical field training, and informative sessions led by industry experts.