Union Minister for Education & Skill Development & Entrepreneurship Shri Dharmendra Pradhan inaugurated Project ODISERV in Sambalpur, Odisha, which is an important step towards preparing young graduates for employment opportunities in the financial services sector. The objective of this initiative is to empower the youth, increase their employability and fulfill their career aspirations.
Definition of Project ODIServe
So, what exactly is Project ODIServe? Think of it as a bridge. On the one hand, you have young people who are eager to work but don’t know how to get there. On the other hand, you have the bustling world of finance, banking and insurance available to skilled workers. Project ODIServe is the bridge connecting the two, focusing on providing training and skills to the youth.
Project ODISERV (Odisha Initiative for Skills and Vocational Education) is a skill development initiative designed to prepare young graduates in Odisha for employment opportunities in the banking, finance and insurance sectors. It is a structured 100-hour training program that provides youth with the necessary skills and knowledge to make them employable and fulfill their career aspirations.
Development of Project OdiServe
Project ODIServe did not emerge overnight. This is a result of seeing a huge need – that is, young graduates in Odisha need the right skills to get jobs in the financial sector. The government and Bajaj Finserv noticed this gap and worked together. They wanted to ensure that the youth were not only educated but also prepared for jobs.
Project ODISERV emerged from an urgent need to bridge the gap between the existing educational framework and the dynamic demands of the job market, especially in the financial services sector. Recognizing the importance of skills along with academic learning, the project was envisioned to align with India’s National Education Policy (NEP) 2020. This policy advocates the integration of vocational training and education to ensure that students are not only academically knowledgeable but also have jobs.
Objective of Project OdiServe
The goal is clear: to empower the youth. How? By making them more employable, and providing them with the skills that the finance sector is overwhelmed with. It’s not just about getting any job; It is about getting good jobs that make them and their families proud and financially secure.
The primary objective of Project ODIServe is to empower the youth by enhancing their employability through skill development in the state of Odisha. It aims to equip students, especially first-generation graduates from Tier-II and Tier-III cities, with the competencies needed in the financial services industry. By doing so, the project seeks to contribute to India’s economic growth and support the achievement of the demographic dividend.
Examples of Influence
Already, more than a thousand students have gone through this program. Impact is about education in finance, banking and insurance. What else? Some people left with job offers in their hands. This is a real impact, real change happening.
Training and Placement: Already, 1100 students in Odisha have been trained under Project ODIServe, some of whom have received immediate job offers on completion of the programme.
Industry-Academia Collaboration: This initiative is a perfect example of how collaboration between industry leaders and academic institutions can create impactful skilling opportunities. For example, the partnership between the National Skills Development Corporation (NSDC), Bajaj Finserv and educational institutions in Odisha.
Future Prospects
The sky’s the limit here. Starting from Odisha, the project is planned to be expanded to 60 colleges in 11 cities. And it is not stopping at the border of Odisha. The aim is to take it to more than 400 colleges in 22 states across the country. It changed thousands of lives and launched thousands of careers.
Project ODISERVE is set to expand its reach beyond Odisha, aiming to cover more than 400 colleges across 22 states in India. This expansion is expected to initially create a capacity of 20,000 candidates through the Certificate Program in Banking Finance and Insurance (CPBFI). The curriculum, designed in collaboration with industry experts, will be suited to the evolving landscape of finance, banking and insurance, incorporating the latest trends and technologies.
To Participate
This is not a solo mission. This includes the government as well as the National Skill Development Corporation (NSDC) and Bajaj Finserv. It is a powerful combination of public and private forces joining hands for a common goal. Also, there is talk of tie-ups with banks and insurance companies to open more doors for these trained youth.
The success and scalability of Project ODIServ depends on strategic partnerships:
- Bajaj Finserv and NSDC: An important partnership that brought Project ODIServ to life by combining Bajaj Finserv’s industry insight with NSDC’s expertise in skill development.
- Educational Institutions: Collaboration with colleges and universities in Odisha (and eventually all of India) to implement the CPBFI program.
- Financial sector stakeholders: To connect with banks, financial institutions and insurance companies to provide students with internships, on-the-job training and exposure to industry best practices.
Ultimately, Project ODIServe stands as a ray of hope for many young graduates in India, promising to not only enhance their employability but also empower them to fulfill their aspirations. Through its growth, purpose-driven approach, impactful examples, ambitious prospects and strategic partnerships, Project ODIServe is set to play a key role in shaping the future workforce of India’s financial services sector.
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