How Jayesh Surisetti and team are trying to improve the Banking, financial services and insurance sector with their startup – NIBF

NIBF is an L&D organization headed by Jayesh Surisetti, Biswajit Chattaraj and Satendra Shrivastava that focuses on creating interventions that adds value in different activities for various stakeholders in the Human Resource ecosystem of the Banking, Financial Services, and Insurance sector. Let's uncover the story behind the startup.

There are various sectors and industries in our country that are operating on an enormous scale, but one of the most significant areas with a considerable rate of employment is the BFSI sector (Banking, Finance Services, and Insurance). With so many public and private banks in the country, people were continually studying and getting coachings for the banking examinations.

Some would lack awareness, whereas some would lack preparation and do not get their dream job of being a banker or working in the BFSI sector. This was the sweet sector that needed development in the quality of Human Resources and Jayesh Surisetti felt that the quality of lower and middle management level of banking was struggling hard to keep up with the current required standards. This worked as a significant loss for many organizations and for aspirants who blindly followed the crowd and had no understanding of what the recruiters wanted from them. Being an experienced banker, Jayesh didn’t let go of this opportunity and decided to take on this opportunity, and this is how NIBF was conceived.


The journey to NIBF

Jayesh Surisetti
Jayesh Surisetti

Jayesh Surisetti was born in Andhra Pradesh, but he was raised in Raipur for most of his life and thus he calls Raipur as his hometown. After completing his schooling from Raipur, he pursued BBA from Symbiosis, Pune, where he was a gold medalist. After this, he decided to pursue PGDM from IIM Raipur and kept the record of being a gold medalist and even received a medal from the President of India.

Entering the corporate world with such a remarkable record, he was associated with several consultancy firms, news agencies, publishing houses, and educational institutions in diverse capacities. Some of these firms were Deloitte, NTPC, Pratham International, PT Education, and Central Chronicle. The last project he worked on was with ICICI Bank, where he handled employee relations in Maharashtra and Goa. Apart from this, he has also written papers for various areas like macroeconomics, media studies, legal studies, human resources, and social psychology.


What is NIBF?

NIBF Website Screenshot
NIBF Website Screenshot

NIBF is an L&D organization that focuses on creating interventions that would add value in different activities for various stakeholders in the Human Resource ecosystem of the Banking, Financial Services, and Insurance sector. There were few challenges in the BFSI sector that Jayesh wanted to tackle with his startup; these were:

  • Capability challenge- upgrading capability of new and existing employees
  • Employability challenge- Increasing employability of aspirants willing to make corporate careers and find the right job
  • Availability challenge- Finding the right candidate for the job and right job and place
  • Affordability challenge- Premium service with value-for-money to maximize outreach to more cities


Problems in the beginning stage

In conversation with TimesNext, Jayesh talks about some of the problems that were expected to them, such as acquiring corporate clients, increasing the visibility of the platform, and tackling other issues since its a bootstrapped organization.

However, two challenges that were surprising for them was the inertia among students to leave their comfort zones and get into the available jobs. The second issue was that the crowd was hesitant to learn using digital media even among tech-savvy youth.


Collaborations by the company and the first milestone

NIBF has worked and collaborated with about 20 corporates in the BFSI sector for several interventions – training, digital learning, etc. Some of these corporations are HDFC Bank, SUD Life Insurance, ICICI Bank, Jana Small Finance Bank, Fino Payments Bank, Ujjivan Small Finance Bank, L&T Finance, and few others.

The first milestone for the firm was the company started working on designing the training architecture for Mahindra Rural Housing Finance Ltd. The most significant milestone for them was when differential banking licenses like Small Finance Bank and Payments Bank came out. They designed transformational training interventions for the organizations, and this helped them to change from the existing business model to a functional model.


The current growth of the company and the vision

NIBF Founders - Jayesh Surisetti, Biswajit Chattaraj and Satendra Shrivastava
NIBF Founders – Satendra Shrivastava, Biswajit Chattaraj, and Jayesh Surisetti,

After training over 300,000 students across various designations and departments of the BFSI sector, they opened up several courses on the retail front for aspirants, which created employment opportunities for 10,000 students. The company has also started low-cost, self-paced, virtual learning for banking aspirants. They achieved breakeven in 2015-2016, and from the last four years, they have been hitting the Rs100 million revenue consistently and hope to reach Rs150 million mark by this year.

With the vision of making NIBF a household name for training and education segment with all their immediate, short-term initiatives working to benefit every single person in the area. By 2025, they wish to reach 10-15 lakh people with centers in 400+ districts across the country.

+ posts

Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

From post-workout beer to cars as a new personal space, these trends offer businesses a wide range of capitalization opportunities to explore.

Emerging Trends: Performance Beer, Digital Decor, and Cars, a New Personal Space

Post-workout Beer As per Keywords Everywhere, thousands of people are searching for 'drink beer post workout' monthly. It has fermented a new class of post-workout...
With easy internet access and high smartphone penetrations, there has been a shift in rural customers' aspirations opening opportunities for marketers.

Rural Marketing in the Post-COVID Era: A Lucrative Space

There has been a gradual evolution in rural marketing for the past few decades. Since most of the Indian population resides in rural areas,...

Challenges in Indian Startup Ecosystem

The Land Accelerator South Asia 2021 The Land Accelerator is a four-month curated program focused on training and supporting entrepreneurs working to restore land, forests,...
The idle minds and empty hands are using more devices, apps, and postures in the lockdown. We are here for a 30 billion USD industry booming around that.

Sextech: A Booming Billionaire Dollar Industry

Sex has always been a shady space in India. For a culture that takes price in Mind Control, Yoga, and worshiping saints, sex has...
Midea is facing the same fate as many Chinese corporations, asking for funding, going the old-fashioned way, through Kickstarter like Indiegogo.

Midea looks forward towards better development through crowdfunding, what could this mean for the...

Midea is a multinational technology company specializing in HVAC systems, consumer electronics, robotics, and industrial automation, and the digital market. (1) Midea provides a...
Amazon won the fight against labor organizing at its Bessemer, Alabama, warehouse on Friday, with employees opposing the Retail, Wholesale, and Department Store Union 2-to-1.

Will Amazon continue to live the bad light amongst its workers?

The COVID-19 pandemic has wreaked havoc on cultures and economies all over the globe. However,, Inc. has increased, cementing its status as the...
There has also been a boon for retail investors seeking profit and reliable trading platforms. Here are the top Robinhood alternatives in India.

Top Robinhood Alternatives in India

India's new trader breed had light-up Dalal Street in 2020. It was the year when many people across the globe were forced to stay...

Trending: Crypto College Loans, Viridian Vibes, and Bananatex Going Bananas

Students Going Crypto A group of students and advisers from several universities collaborated to built Student Coin in 2018 (1). It is a blockchain framework designed to...