Fundamentals of Banking and Insurance

By Dr. Girija Shankar | Savitribai Phule Pune University

Learners enrolled: 247

The financial sector forms the backbone of every economy, with banking and insurance playing vital roles in managing financial transactions, risks, and economic stability. The 4-credit SWAYAM course “Fundamentals in Banking and Insurance” offers a comprehensive understanding of these key areas. It traces the evolution of banking from traditional money lending to modern, technology-driven systems, covering the structure and functions of various banks—central, cooperative, and development. The course explores innovations such as digital payments, mobile and open banking, and neo-banking, along with emerging technologies like AI, blockchain, tokenization, and Regulatory Technology (RegTech). Emphasis is placed on cybersecurity, fraud detection, and customer-centric practices, as well as the role of the Reserve Bank of India (RBI) in ensuring monetary stability. The insurance module explains the principles of insurance, types of risks, and key products such as life, health, and reinsurance, while introducing learners to Insurance Technology ( InsurTech), AI-driven automation, and climate risk management. It highlights the growing convergence of banking, insurance, and FinTech through topics like digital currencies, ESG frameworks, and financial inclusion. By blending theory with real-world applications, the course develops analytical, technical, and professional skills for successful careers in the financial sector.

Summary

Course Status :	Upcoming
Course Type :	Core
Language for course content :	English
Duration :	10 weeks
Category :	Management Studies
Credit Points :	4
Level :	Undergraduate
Start Date :	12 Jan 2026
End Date :	30 Apr 2026
Enrollment Ends :	28 Feb 2026
Exam Date :
Translation Languages :	English
NCrF Level	5.5

Page Visits

Course layout

Week 1: Introduction to Banking and Financial Systems

Week 2: Banking Operations and Regulator

Week 3: Banking Operations and Regulator

Week 4: Technological Innovation in Banking

Week 5: Technological Innovation in Banking

Week 6: The Future of Finance: Trends and Innovations

Week 7: Introduction to Insurance

Week 8: Insurance in Contemporary Times

Week 9: Actuaries

Books and references

1. Banking – Law, Theory & Practice: Tannan, M. L. (2010). Tannan’s banking law and practice in India (23rd ed.). Lexis Nexis Butterworths Wadhwa, Varshney, P. N. (2007). Banking law and practice (22nd ed.). Sultan Chand & Sons.

2. Indian Banking System & Operations: Parameswaran, R., & Natarajan, S. (2001). Indian banking. S. Chand & Company Ltd., Iyengar, V. (2007). Introduction to banking. Excel Books.

3. Banking Products, Services & Marketing: Indian Institute of Banking & Finance. (2007). Banking products and services (2nd ed.). Taxmann Publications, Murthy, G. G. K. (2007). Marketing in banks: Concepts and approaches. The ICFAI University Press.

4. Financial Systems & Institutions: Mishkin, F. S. (2019). The economics of money, banking, and financial markets. Pearson, Saunders, A., & Cornett, M. (2020). Financial institutions management. McGraw Hill.

5. Digital & Electronic Banking: Skinner, C. (2017). Digital bank: Strategies to launch or become a digital bank. Embassy Books, Kapoor, R. (2021). Digital banking in India. Sage Publications.

6. Cybersecurity in Banking: Kapoor, N. (2020). Cybersecurity and banking: Risks, challenges and solutions. Tech Press Publications, Sood, A., & Enbody, R. (2014). Targeted cyber attacks: Multi-stage network attacks and defense strategies. Syngress Publications.

7. FinTech & Digital Finance: Chishti, S., & Barberis, J. (2016). The FinTech book: The financial technology handbook for investors, entrepreneurs and visionaries. Wiley, Puschmann, T. (2017). FinTech: Innovation in the financial industry. Springer.

8. Blockchain, Cryptocurrency & CBDC: Nakamoto, S. (2009). Bitcoin: A peer-to-peer electronic cash system, Tapscott, D., & Tapscott, A. (2016). Blockchain revolution: How the technology behind Bitcoin is changing money, business, and the world. Penguin.

9. Risk Management in Banks: Indian Institute of Banking & Finance. (n.d.). Risk management in banks. Taxmann Publications, Financial Stability Board. (2023). Financial stability implications of tokenisation – Executive summary. Bank for International Settlements.

10. Insurance – Principles & Practices: Mishra, M. N. (2021). Insurance: Principles and practice. S. Chand & Company Ltd., Vaughan, E. J., & Vaughan, T. (2018). Fundamentals of risk and insurance. Wiley.

11. Specialized Insurance Topics: Bodla, B. S., Garg, M. C., & Singh, K. P. (2003). Insurance: Fundamentals, environment and procedures. Deep & Deep Publications, Golnaraghi, M. (2021). Climate change risk assessment for the insurance industry. The Geneva Association.

12. Actuarial Science & Quantitative Insurance: Bowers, N. L., Gerber, H. U., Hickman, J. C., Jones, D. A., & Nesbitt, C. J. (1997). Actuarial mathematics (2nd ed.). Society of Actuaries, Klugman, S. A., Panjer, H. H., & Willmot, G. E. (2012). Loss models: From data to decisions (4th ed.). Wiley.

13. Investment & Financial Decision-Making: Chandra, P. (2017). Investment analysis and portfolio management (5th ed.). Tata McGraw-Hill Education, Gitman, L. J., & Joehnk, M. D. (2015). Fundamentals of investing (13th ed.). Pearson Education.

Webliography

1. Bank for International Settlements (BIS). (n.d.). Homepage. Retrieved from https://www.bis.org

2. CaseMine. (n.d.). Legal case database. Retrieved from https://www.casemine.com

3. Comply Advantage. (n.d.). Fraud detection and prevention in banking. Retrieved from https://complyadvantage.com/insights/fraud-detection-prevention-in-banking/

4. DataVisor. (n.d.). Real-time monitoring. Retrieved from https://www.datavisor.com/wiki/real-time-monitoring

5. Eurodad. (n.d.). How international financial institutions and donors influence economic policies in developing countries. Retrieved from https://www.eurodad.org/how_international_financial_institutions_and_donors_influence_economic_policies_in_developing_countries

6. EY. (2019). Global FinTech Adoption Index 2019. Retrieved from https://www.ey.com/en_gl/ey-global-fintech-adoption-index

7. Indian Kanoon. (n.d.). Legal database. Retrieved from https://indiankanoon.org

8. Insurance Regulatory and Development Authority of India (IRDAI). (n.d.). Official website. Retrieved from https://irdai.gov.in

9. Institute of Company Secretaries of India (ICSI). (n.d.). Banking law – Professional programme. Retrieved from https://www.icsi.edu/media/webmodules/publications/9.1%20Banking%20Law%20-Professional.pdf

10. KPMG. (2023). Pulse of FinTech 2023. Retrieved from https://home.kpmg/xx/en/home/insights/2023/07/pulse-of-fintech-h1-2023.html

11. National Payments Corporation of India (NPCI). (n.d.). Official website. Retrieved from https://www.npci.org.in

12. Organisation for Economic Co-operation and Development (OECD). (n.d.). Ethical AI principles. Retrieved from https://oecd.ai/en/ai-principles

13. PricewaterhouseCoopers (PwC). (2017). Global FinTech Report 2017. Retrieved from https://www.pwc.com/gx/en/industries/financial-services/assets/pdf/fintech-report-2017.pdf

14. PricewaterhouseCoopers (PwC) India. (n.d.). Neobanks and the next banking revolution. Retrieved from https://www.pwc.in/industries/financial-services/fintech/fintech-insights/neobanks-and-the-next-banking-revolution.html

15. Reserve Bank of India (RBI). (n.d.). Banks in India. Retrieved from https://www.rbi.org.in/commonman/english/scripts/banksinindia.aspx

16. Reserve Bank of India (RBI). (n.d.). Organisation structure of RBI. Retrieved from https://www.rbi.org.in/commonman/English/scripts/organisation.aspx

17. World Bank. (n.d.). Official website. Retrieved from https://www.worldbank.org

18. World Economic Forum. (n.d.). AI in finance – Global report. Retrieved from https://www.weforum.org/reports/ai-in-finance

Instructor bio

Dr. Girija Shankar

Savitribai Phule Pune University

Dr. Girija Shankar is a distinguished academician and administrator with a long and accomplished career in higher education. She served as an Adjunct Professor in the Department of Economics, Faculty of Humanities and Social Sciences at Vishwakarma University, Pune. A retired Principal of Ness Wadia College of Commerce, Pune, she also held key academic and administrative positions, including Professor and Head of the Department of Business Economics and Head of the Research Centre. Over her illustrious career, she has served as Assistant Secretary and Life Member of the Modern Education Society, Head of the Department of Banking and Finance, Rector of Neville Wadia Institute of Management Studies and Research, Pune. She has been nominated as a subject-expert (several times) on - the Board of Studies in the subject of Banking and Finance and Business Economics of SPPU, Pune and also at other Universities; mapping of Swayam courses with UG/PG non-engineering programmes of SPPU. She has developed curriculum and worked as Co-ordinator, Subject Expert and content writer for the development of MOOC course in Fundamentals of Banking and Insurance launched on Swayam platform since 2018 till date and other E-Content programmes of Ministry of HRD, Govt of India under CEC, N.Delhi at EMMRC, SPPU, Pune. Under her guidance, 10 students have been awarded Phd and 2 students have been awarded M.Phil by SPPU, Pune. She has authored several books in Business Economics and Banking and Finance.

Course certificate

End-Term Examination:

- Weightage: 70% of the final result

- Minimum Passing Criteria: 40%

Internal Assessment:

- Weightage: 30% of the final result

- Minimum Passing Criteria: 40%

Calculation of IA Marks:

- Out of all graded weekly assessments/assignments, the top 50% of assignments shall be considered for the calculation of the final Internal Assessment marks.

All students who obtain 40% marks in the internal assessment and 40% marks in the end-term proctored exam separately will be eligible for the SWAYAM Credit Certificate.

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