The Indian Overseas Bank (IOB) has partnered with the Indian Institute of Banking and Finance (IIBF) to launch a customized e-learning and certification program focused on Micro, Small, and Medium Enterprises (MSMEs). The Memorandum of Understanding (MoU) was signed on May 18 in the presence of IOB’s CEO and MD, Ajay Kumar Srivastava, and other senior officials from both organizations. The primary objective of this initiative is to enhance the knowledge and skills of IOB employees in understanding the credit needs of MSMEs and responding to them in a timely and effective manner.
MSMEs play a vital role in the country’s industrial economy, and it is essential to support and nurture this sector. The MoU aims to address this need by providing IOB employees with specialized training and certification. As part of the agreement, IIBF has developed a customized courseware in the form of an e-Book, which will be used to conduct a certification exam through a remote proctored mode. Employees who successfully pass the examination will receive a certificate jointly signed by IOB and IIBF officials.
This collaboration between IOB and IIBF is expected to benefit both the bank and the MSME sector. By enhancing the knowledge and skills of its employees, IOB will be better equipped to meet the credit needs of MSMEs, which will, in turn, contribute to the growth and development of the sector. The certification program will also help IOB employees to stay up-to-date with the latest developments and best practices in MSME lending, enabling them to provide better services to their customers. Overall, this partnership is a positive step towards supporting the MSME sector and promoting economic growth in the country.