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Non-resident foreigners buying property in South Korea must abide by the Foreigner's Land Acquisition Act, Real Estate Registration Act, and Foreign Exchange Transactions Act. Non-residents must prepare documents certifying their residence in a foreign country, or provide confirmation with proper authentication.A property sale contract must be recorded by the foreigner to the head of the Shi/Kun/Ku (city/county/ward). If the property is located in military installation protection areas, designated cultural properties, and ecosystem conservation areas, foreigners “shall obtain permission from the head of Shi/Kun/Ku before the conclusion of the contract” .However, remittance of revenue or profit from property in Korea is not allowed. A foreigner who wants to enjoy rental income has two options. One is to establish a ‘stock company’ or corporation (Joosik hoesa), which is the same as a U.S. stock company. A foreigner can purchase the property through the stock company, and then remit the revenue out of the country in the form of dividends. The minimum capital required for a ‘stock company’ is KRW50 million (US$45, 045), and each share must have a minimum par value of KRW5,000 (US$5) for it to be sold without court approval.Another way is to register a ‘limited liability company’ (Yoohan hoesa), and pay the tax before remitting the money. The minimum capital required for a ‘limited liability company’ is KRW10 million (US$9,009). A ‘limited liability company’ cannot have more than 50 partners.This issue of remittance is one reason why foreigners tend to hold Korean property through a ‘stock company’ or a ‘limited liability company’.Nonresidents can open Korean Won bank accounts only for a limited range of purposes, which includes withdrawing Korean Won after depositing Korean Won acquired in Korea. However, individual and corporate residents can hold unlimited amounts of foreign currency in local foreign-currency bank accounts.A real estate agent should be sought. His services will include the transfer and registration of ownership. It is possible to obtain a contract in English.The title should then be checked. Title to real estate is evidenced by registration at the Real Property Registry. Under Korean law, buildings and land are owned separately. Therefore, there are separate registries for buildings and land.The Real Property Registry has some inherent limitations. For example, it does not show whether there has been a break in the chain of title caused by acts such as a forgery of the rightful owner’s seal or an unlawful sale of the property by a third party.Without proper title registration, the occupier of real estate may take ownership through one of the following types of adverse possession:The occupant is the registered title holder at the Real Property Registry, has occupied the premises for at least ten years and took possession with the intention of owning the real estate. The occupant must take possession peacefully and publicly, and with the belief that it has the legal right to possess the real estate. If, however, the occupant mistakenly believes through negligence (for example, by failing to check the Real Property Registry upon occupancy) that it has the legal right to real estate, it may not take adverse possession.The occupant has peacefully and publicly possessed the real estate for 20 years with the intent to own it and with the belief that it has the legal right to possess the real estate, and after the 20- year period, it has registered itself as the owner.The following information is contained in the registry:Title information, including current owner, history of title, dates of title transfer, and reasons for title transfer; andEncumbrances, including mortgages, easements, superficies, registered leases, trusts, and judicially-ordered attachments and injunctions.The appropriate authorities must be notified of the intention to make a foreign direct investment (FDI). This should be done at the head-office or branch of a domestic bank, branches of foreign bank, or KOTRA (including its overseas and domestic offices).A FDI company registration should be sought from the agency accepting notification, within 30 days from completion of capital of investment object introduction (Requirements: * Application for FDI company registration; * Certificates confirming purchase (deposit, etc.) of foreign currency ( in case of FDI-in-kind introduction, certificates confirming the completion of FDI-in-kind by KISC); * Copies of company registration at Korean Court registry (in case of personal business, certificate of business registration at tax offices).Then a contract should be signed, and a transcript of the real property registration obtained.Land Acquisition Filing must be done within 60 days after closing (payment in full) of contract at the Cadastral Division, City, County of Ward Office (Autonomies) of the place of land (Requirements : A real estate acquisition contract and a transcript of land registry).Strictly speaking, a parcel of land is legally distinguished from real property, but traditionally a building isn’t normally traded apart from its land in Korea. Therefore a ‘Land Acquisition Filing’ is usually needed in case of purchasing a house (incl. Apartment), factory, or commercial building). It is recommended that professional legal services be obtained, because of the complex requirements.A Business Registration should be lodged (where a local corporation is being formed to hold the property) at the national tax authority with jurisdiction over the place of real property, KOTRA (Requirements : * Business registration application form; * Certificate of FDI notification; * Notarized certificate of representative of individual with power of attorney (In the case of a corporation, business registration is normally done at the time of incorporation).Then a request should be made for Foreigner Registration No. for real estate registration, for an individual, at the Seoul Immigration Office (in Mok-dong : Tel. 82-2-650-6237), and for a corporation, at Cadastral Division, City, County or Ward Office of the place of real property (to give your representative a mandate, attach a power of attorney notarized by the public notary of one´s homeland (foreigner) or the consulate in the country of residence (Korean resident abroad).The title transfer must then be registered, within 60 days after closing of contract, at the registry office with jurisdiction over the place of real property. (Requirements : a) Certificate of alien registration (resident alien) / certificates of address and registry for real estate resister (non-resident alien) / transcript of the corporation registry (corporation); b) Registration form, the certificate of land acquisition filing, a certified contract, a certificate of registration and official seal of seller, copies of land/forest/building (improvement) ledger (for the mandate - attach a power of attorney notarized by the public notary of one´s homeland.All that said, the problem is not necessarily buying property to run a guest house as a business, the problem is that you’d need to get a special visa to be able to reside there full time to run it yourself. Otherwise, depending on the country under which you hold a passport and the visa time limits and restrictions placed, you have to keep leaving the country by the assigned deadline and then reapplying to return; meaning you have to fly out of South Korea for the required amount of time before returning again. Of course you don’t have to return back to your native country, you could fly to HK or Japan and return from there. But it is an added “business” cost you would have to consider. If for instance your country’s agreement allows on a 30 day stay, you’d have to do it 11 times a year; if they allow a 60 or 90 day stay, then respectively you have to leave 5 times or 3 additional times a year before coming back to Korea. Are you going to hire a Korean employee and keep the guest house open 24/7/365 days a year, or shut down when you have to be out of country to reestablish a new visa? Those things have to be considered too.Hope it helps! The best advice though is to have an attorney and have your attorney arrange for you to work with a reputable realtor in Korea to make the process as seamless and smooth as possible, as well as making sure all your rights are protected. In Korea, realtor rates and other fees associated with real estate transactions are preset and capped, but you can always negotiate a lower rate depending on the value of the property you are buying and other arrangements you are willing to make. i.e. using the same realtor as your booking agent for instance, as there are a number of realtors who arrange short term bookings under which your guest house may benefit a more stable income stream. Depending on your rates and the location of the guest house, if it is either near tourist spots in Seoul, or close to public transportation to the business section, or a major university, etc., you may find clientele who are businessmen, tourist wishing to be in country for up to a month or so, or foreign students studying in Korea who would prefer a guest house with breakfast and dinner included as a possible option—if the price is reasonable.Lastly, remember that foreigners may be unable to pay upfront deposits in Korean Won depending on which country they are from and the type of credit card they have (or don’t have). Be prepared for currency fluctuations and use them to your advantage, i.e. if you have a foreigner pay in their currency which is stronger than the Korean Won, you gain a profit from the arbitrage in currency rates. Likewise, if their currency is weaker than the Korean Won, you will want them to bear the conversion costs and only take payment in Korean Won. At the end of the year, even a 5–10% advantage in FX can mean thousands of dollars in additional revenue.Good luck!

Page 1 of 5Minority Status of the Jain Community in IndiaBenefits of Recognition as Minority for Institutions and IndividualsProcedure for Getting Minority Status for Educational InstitutesThe National Commission for Minorities Act, 1992, defines minority as“Minority”, for the purposes of this Act, means a community notified as suchby the Central Government”.Article 29(1) provides for protection of interests of minorities and statesthat : "Any section of the citizens residing in the territory of India or anypart thereof having a distinct language, script or culture of its own shallhave the right to conserve the same". Article 30(1) provides for the right ofminorities to establish and administer educational institutions and states:“All minorities, whether based on religion or language, shall have the rightto establish and administer educational institutions of their choice”. Article30(2) states: “The State shall not, in granting aid to educational institutions,discriminate against any educational institution on the ground that it isunder the management of a minority, whether based on religion orlanguage”. Thus in India, minorities are classified on the basis of religion oron the basis of the language spoken.The Jain Community has no uniform and statutory national minority status.Currently, the Jain community cannot avail of the rights, privileges andbenefits announced for minority communities by the Central Government asit is not in its notified list. However, a few states do accord the Minoritystatus to the Jain community.The Jain community, in seeking the minority status at the National level, isnot asking for any reservations such as those available to the OtherBackward communities and Scheduled castes and Scheduled Tribes underthe Constitution. It is only because the constitutional minority statusenables the minority community to give preferential educational andemployment opportunities to the students of their community.A. Benefits of Minority Status:For the Individual1. Finance:The National Minorities Development Finance Corporation (NMDFC)15was set up by the Government of India to provide a “special focus to economicdevelopment of minorities ”. The people belonging to five communities i.e.Muslims, Christians, Sikhs, Buddhists & Parsis have been notified as minoritiesunder the National Commission for Minorities Act, 1992. The prime mandate ofNMDFC has been to provide concessional finance to the minorities living belowdouble the poverty line for self-employment. Jains are notified as minority by the States(as mentioned in the table above) andhence are eligible for financial schemes announced by the respective States theybelong to.2. Scholarships for Students:The beneficiaries of the Pre and Post-Matriculation Scholarships announcedunder the New Prime Minister’s 15-Point Plan are the 5 minoritycommunities notified by the National Commission for Minorities.Education is a State subject and therefore each state has its own scholarshipschemes. You are requested to look up the website of the relevant StateCommissions for Minorities. As an example, Jains in Maharashtra may lookupthe following websites:1. Scholarship for Minority Students for Pursuing Higher and ProfessionalStudies :DTE | MDD2. Page on dte.org.in3. Admission:Students from the Jain community stand a good chance of getting admissionto a course of their choice if the course is offered by a college run by a Jainminority trust. This is because 50% of the seats in a minority institution arereserved for students of from the same minority community.4. Reimbursement of fees:The State commissions for Minorities, from time to time, announce trainingprogrammes aimed at creating employable skills. All Jain students areadvised to lookup the websites of their respective state commission forminorities for announcements. The fees for some of these programmes arereimbursed.As an example, students from Maharashtra can find information forEmployment Oriented Training Programme for minority Candidates in theState at the following link: DTE |MDDFor information on Minorities Development Department in Maharshtra.Page on maharashtra.gov.in 3 of 5Benefits to InstitutesThere are, broadly, three benefits available to a minority institution thatare not available to other institutions:1. Minority educational institutions do not have to maintain reservationin employment or admissions for SCs, STs and OBCs as required to bedone by other educational institutions.2. In terms of control over employees, minority educational institutionshave much greater powers than other institutions. For instance, in theselection of teachers and principals the minority educational institutioncan have a selection committee which does not include the universityrepresentative. Similarly, while in ordinary schools the headmastersnormally have to be appointed on the basis of seniority, minoritymanagements can select a headmaster of their choice.3. In matters of admission of students, minority educational institutionscan have reservation of up to 50 per cent for students of theircommunity.A minority institution can be self-financed as well as government aided. Thereare other organizations too, which provide financial assistance to minorityinstitution.Please refer to: The National Commission for Minority Educational InstitutionsOrdinance, 2004.Procedure for Establishing a Minority Educational InstitutionTo establish and educational institution by minorities first a society needs to beformed under Societies Registration Act, 1860 comprising minimum of 3members, designating within themselves posts of Chairman, Director, Treasureretc. They contribute their own funds or funds through ‘chanda’11 process toestablish an educational institution after which comes process of recognition. Incase of schools, the school applies to the Directorate of Education of thestandard format prescribed by the state. The format of the application form inMaharashtra is available at :Page on ncmei.gov.inIn Maharashtra the criteria and procedure is as outlined below.Eligibility Criteria for Recognitioni) Those institutions which have been granted recognition as a MinorityEducational Institution, by the department of the state government by aspecific order or letter prior to 11-6-2007, or under the GR of GeneralAdministration Department, Government Resolution No. ASS-2006/634/CR63,dated 11 June 2007, or by the National Commission for MinorityEducational Institutions, New Delhi, or by the order of any Court, need not apply again for recognition under these provisions. However the conditionsindicated in Para V below shall also be applicable to all such institutions.ii) The Applicant Minority Institution should be registered as a trust underthe Bombay Public Trust Act 1950 or as a Society under the SocietiesRegistration Act 1860 or other relevant law. The institution should indicatein its by laws or rules that it has been formed to protect the interest of theminority for which status is sought.iii) All those notified as Religious Minorities by the Government of India andtheGovernment of Maharashtra shall be eligible to apply for being accordedrecognition to their educational institutions as Religious MinorityEducationalInstitutions.iv) All those whose mother tongue is an Indian language other than Marathi,shall be eligible to apply for the recognition of the educational institutionsrun by them, as Linguistic Minority Educational Institutions.v) At least two- third of the trustees/ members of the managing committeeof the Society, of the applicant institution should belong to the applicantMinorityCommunity.Procedure for Application for according Recognitioni) The Institution desirous of obtaining Recognition as a Religious orLinguistic Minority Educational Institution, shall apply to the CompetentAuthority in the prescribed form indicating specifically whether they aredesirous of obtaining recognition as Religious or as Linguistic MinorityEducational Institution , along with photo copies of relevant documentsindicated in para IV below.ii) Non Judicial Court Fees stamp of Rs 500, or such amount as may beprescribed from time to time, shall be affixed on each application made.iii) Each application shall be accompanied by a non-refundable processingfee of Rs 5000, (Rs Five Thousand) or such amount as may be prescribedfrom time to time, to be paid by a Demand Draft in the name of UnderSecretary GAD (Desk 26), Mantralaya, Mumbaiiv) The Applicant Institution should file a notarized affidavit in theprescribed form appended herewith as Annexure B, on Non Judicial stamppaper of Rs 100.v) All incomplete applications, not filed in the prescribed form, without theprescribed fees, or without supporting documents shall be rejected duringpreliminary scrutiny and the applicant shall be informed of this. Page 5 of 5vi) Each application shall then be considered in terms of these provisionsand a decision communicated to the Applicant within a period of 90 days ofthe filing of the application. Failure to decide within this time will conferdeemed Minority status on the Applicant Institution.vii) The Competent Authority shall hear the Applicant Institution, through itsauthorized representatives, with prior notice of at least ten days, beforedeciding the application. The Applicant shall be required to furnish at thetime of the hearing of the application, the original documents, photo copiesof which were furnished while filing the application, as indicated in para IVbelow.viii) After hearing the Applicant, if Recognition as a Minority EducationalInstitute is accorded by the Competent Authority, a certificate in Form Ashall be issued to the Applicant.ix) If the application is rejected, a speaking order shall be issued by theCompetent Authority while rejecting the application.Copies of Documents to be attached with application:i) Copy of Trust Deed or Society Registrationii) Copy of Schedule I indicating the names of the original Trustees/membersofManaging committeeiii) Copy of Change Report if any, regarding change in the names ofTrustees/members of Managing Committeeiv) Proof of Religious affiliation or linguistic background of thetrustees/Members of managing Committee such as baptism certificate,school leaving certificate.etcv) Proof that the applicant trust/society is running an EducationalInstitution.For information in detail please refer to website:Page on maharashtra.gov.inertificates%20final.pdfApplication form available at:Page on ncmei.gov.inFor Rights of Minority Educational Institution:http://ncmei.gov.in/index.aspx?clt=23

Axis Bank is back with the tenth edition of its Axis Bank Young Bankers (ABYB) program. A one year, full time residential program, ABYB program is an endeavour by Axis Bank to nurture a talent pool of young bankers by equipping graduates with necessary domain expertise and skill set in the field of banking. The program will be conducted at two training campuses, Manipal Global Education in Bangalore and Amity Global Business School in Noida. Last date to register for the program is March 19, 2016.On successful completion of the course, the student will be awarded the Post Graduate Diploma in Banking Services (PGDBS). Post the training phase candidates will join the bank as Customer Service Officer (CSO) – at Assistant Manager grade - with an annual salary of Rs. 4.12 lakh.Important dates to rememberApplication window opens March 1, 2017Last date of application March 19, 2017Online assessments Between April 1 to April 4, 2017Interview process Between April 24 to April 28, 2017Payment of caution deposit fees Between May 11 to May 17, 2017Program starts Between June 6 to June 9, 2017Eligibility criteriaGraduates from any stream, with 55% and above in their final year of graduation or aggregate of 55% and above in graduation, can apply for the program. They have to be between 21 to 25 years of age, i.e. born on or after April 1, 1992. There are no relaxations in age or qualifications for SC/ST/OBC/PWD applicants.Candidates who have an Axis Bank employee as a relative will not be allowed for the program. Postgraduate degree holders too are not eligible.ABYB selection processThe bank will select candidates through a two-stage selection process consisting of an online aptitude test followed by an interview. The aptitude test will be conducted online and duration will be 2 hours (approximately). The test will assess the proficiency of candidates in four modules:Module name Duration (minutes)English 15Quantitative ability 15Logical reasoning 15Personality 20Candidate will not be allowed to use a calculator or any other calculating device and will have to complete all the modules. There is no negative marking. Each module has a fixed number of questions that need to be attempted in the allotted time. The time allotted for each module is exclusive to that module only and will not carry forward to the next module.All the applicants who successfully clear the Aptitude test will be invited for a personal interview (PI). Candidates will be informed of their progress and status at each stage by email and SMS.Before the PI, each candidate has to find out exactly what the academic program is all about and what the role of a Customer Service Officer (CSO) involves. The candidate also needs to have an impressive resume detailing interests and achievements (in or out of work) that are related to the job. They will be asked a series of questions related to the resume, and profile and the role to offer by the panel. The interview panel will consist of Axis bank officials.Self attested photocopy of the graduation degree/ mark sheet, an identity proof and duly filled job application form should be kept ready for submission at the time of PI.The candidates will have to appear for the Online Aptitude Test and Personal Interview at their own expense.After successful screening, the candidates will have to undergo pre-joining medical and background verification process. They will have to submit a self-declaration medical fitness form. Bank will also verify their education qualifications and background.The selected applicants will be issued admission and provisional letter of appointment from Axis bank towards their future employment.ABYB programCandidates who are finally selected are required to undergo 1 year, full time residential program at Manipal Global Education in Bangalore Or Amity Global Business School in Noida. The classes for the upcoming batch are scheduled to start between June 6 – 9, 2017.As part of the curriculum, candidates will undergo 9-month classroom sessions and 3-month internship at any Axis bank branch. During the course of training, monthly stipend of Rs. 5000 (for 9 months) and Rs.12000 (for internship) would be paid.Application processCandidates interested in applying for the ABYB program can apply. Here is a step-by-step process on how to:1. Visit the official website Internet Banking2. Click on the Careers tab at the bottom of the page followed Young Bankers Program3. Or go directly to the Young Bankers Program page4. Click on Apply Now tab at the left of the page5. Fill up the application forms that opens up6. Pay the application fees after completing the application process7. Two emails will be sent to the registered e-mail id: first consists of the myamcat user id and password, and second to confirm receipt of application fees.The application fee of Rs. 500 is only for new registrants, and should be submitted along with the online application form before March 19, 2017.In case a candidate has already appeared for the Aspiring Minds Computer Adaptive Test (AMCAT), he/she does not need to take a fresh test. Based on the eligibility criteria of the program and AMCAT score, the candidate may be invited for the personal interview. ?Program feesInterested applicant will have to invest Rs 3,40,000 plus service tax, Swachh Bharat cess and Krishi Kalyan Cess. The payment will cover the tuition fees, boarding, lodging for the entire course. It is important to note here that there is no service bond and the fees paid will not be refunded later.The payment structure:Term Fees Service Tax @ 14% Swachh Bharat Cess @ 0.5% Krishi Kalyan Cess @ 0.5% Term Sum1 110000 15400 550 550 1,26,5002 115000 16100 575 575 1,32,2503 115000 16100 575 575 1,32,250Total 3,40,000 47600 1700 1700 391,,000The candidate can apply for the Education Loan from Axis bank.Details about the bank loan:Terms DetailsEligibility Student should be an Indian national and should have been selected under the Axis Young Bankers ProgramCourse name Post Graduate Diploma in Banking ServicesRate of interest 12. 75 % (Fixed rate)Maximum loan amount 4 lakh (inclusive of course fees, service tax & insurance premium)Processing fees NilOther charges A lumpsum amount of Rs. 2,000will be collected towards out of pocket expenses like stamp duty and document franking etc.Penalty for early closure NilPrepayment charges NilCharges for late payment Rs 500 + taxes per cheque bounce and a penal interest @ 24% per annum i.e. @ 2% per month on the overdue instalment/sRepayment instruction/instrument return charges Rs 500 plus service tax as applicable per instanceRepayment Interest servicing during the moratorium period. EMI repayment will start on completion of the moratorium period.Mode of repayment Interest/EMI repayments will be recovered on a monthly basis from the stipend account based on the standing instruction from the student.Maximum moratorium period 18 months (i.e. course period + six months)Maximum repayment period 5 years (Starts six months after the candidate has joined the active service with Axis Bank)Loan disbursement As per fee payment schedule. The payment will be made directly to the institute.Co-applicant The co-applicant should be parent(s)/guardian of the student borrower. In case of married person, co-applicant can be spouse or the parent(s)/parents-in-lawInsurance On the loan amount availed. Insurance amount can be included in the loan amount.Tentative interest amount (per lakh) during moratorium period Approximately Rs 1,083Tentative EMI amount (per lakh) post moratorium period Approximately Rs. 2,263ABYB program curriculumThe one-year PGDB program comprises four trimesters of 13 weeks each. While the first three trimesters would be conducted on campus, the fourth trimester would be internship at a designated branch of Axis Bank across the country.Classes will be held five days a week, Monday to Friday, and on Saturday candidates will be assigned to other curricular activities such as branch visits and e-learning modules. Formal classroom sessions will start from 9:00 AM and comprise seven sessions of 65 minutes each till 6:00 PM each day.Apart from the regular classes, the candidates would be required to take part in additional curricular and extra-curricular activities. Some Sundays and weekends maybe dedicated to training sessions or classes depending on academic needs. They would be required to attend 90% classes. Any leave of absence would be given only with the specific permission of the Program Coordinator.Credits have been assigned to each course based on the hours of study/learning and other associated activities like case studies, tutorial discussions, case-presentations, lectures, library work and practical-work in laboratories etc.The outline of the curriculum trimester-wise:First trimester: Basics of Banking, IT in Banking, Business communication, Managerial Economics, Business Mathematics and Statistics, Accounting, General managementSecond trimester: Banking and allied services, Banking environment, Advanced Business communication, Receipts and Payment systems, LendingThird trimester: Areas of learning covered will comprise of Financial Planning, Foreign Exchange, Credit Risk management, Retail banking, Treasury Management, Recovery Management, Business analyticsFourth trimester: On the job learning, in form of internship and project workThrough this program, Axix bank hopes to empower a young banker to demonstrate a systematic understanding of banking concepts, procedures and systems, gain critical awareness of current challenges and new trends in the industry, demonstrate an ability to communicate effectively in business situations and become a fair and responsible banker.First Published: Wed,March 08 2017 17:03 ISTRead More onAXIS BANKMANIPAL GLOBAL EDUCATIONAMITY GLOBAL BUSINESS SCHOOLCSOPrev » Symbiosis International University begins registration for SET 2017Next » JEE main 2017 admit cards outRelated NewsPai, Kotak head key panels on insolvency frameworkExecutive education moves out of classrooms as online gains tractionSBI to make global training institute operational in some monthsSocially aware corporate of the year: Right axisMost ReadThousands of Indian techies return home as US rejects visa extensionsIPL 2019, CSK vs RCB Preview: Defending champions Chennai eye winning startIs Pakistan about to hit an oil jackpot? 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You might want to start investing in ReitsProperty ownership: Allotment letter determines the date of purchasePlanning to avail of loan against property? Here are rates offered by banks[ more ]⇧ Back to TopTop StoriesMarket NewsMarket DataCompaniesOpinionEconomy & PolicyFinancePoliticsTechnologyPersonal FinanceCurrent AffairsInternationalInterim BudgetView Full Site >>Copyrights © 2019 Business Standard Private Ltd. All rights reservedHome› CurrentaffairsAxis Bank announces Young Bankers program 2017-18By Trupti Ramball |Last Updated at March 21 2017 17:52 ISTAxis Bank is back with the tenth edition of its Axis Bank Young Bankers (ABYB) program. A one year, full time residential program, ABYB program is an endeavour by Axis Bank to nurture a talent pool of young bankers by equipping graduates with necessary domain expertise and skill set in the field of banking. The program will be conducted at two training campuses, Manipal Global Education in Bangalore and Amity Global Business School in Noida. Last date to register for the program is March 19, 2016.On successful completion of the course, the student will be awarded the Post Graduate Diploma in Banking Services (PGDBS). Post the training phase candidates will join the bank as Customer Service Officer (CSO) – at Assistant Manager grade - with an annual salary of Rs. 4.12 lakh.Important dates to rememberApplication window opensMarch 1, 2017Last date of applicationMarch 19, 2017Online assessmentsBetween April 1 to April 4, 2017Interview processBetween April 24 to April 28, 2017Payment of caution deposit feesBetween May 11 to May 17, 2017Program startsBetween June 6 to June 9, 2017Eligibility criteriaGraduates from any stream, with 55% and above in their final year of graduation or aggregate of 55% and above in graduation, can apply for the program. They have to be between 21 to 25 years of age, i.e. born on or after April 1, 1992. There are no relaxations in age or qualifications for SC/ST/OBC/PWD applicants.Candidates who have an Axis Bank employee as a relative will not be allowed for the program. Postgraduate degree holders too are not eligible.ABYB selection processThe bank will select candidates through a two-stage selection process consisting of an online aptitude test followed by an interview. The aptitude test will be conducted online and duration will be 2 hours (approximately). The test will assess the proficiency of candidates in four modules:Module nameDuration (minutes)English15Quantitative ability15Logical reasoning15Personality20Candidate will not be allowed to use a calculator or any other calculating device and will have to complete all the modules. There is no negative marking. Each module has a fixed number of questions that need to be attempted in the allotted time. The time allotted for each module is exclusive to that module only and will not carry forward to the next module.All the applicants who successfully clear the Aptitude test will be invited for a personal interview (PI). Candidates will be informed of their progress and status at each stage by email and SMS.Before the PI, each candidate has to find out exactly what the academic program is all about and what the role of a Customer Service Officer (CSO) involves. The candidate also needs to have an impressive resume detailing interests and achievements (in or out of work) that are related to the job. They will be asked a series of questions related to the resume, and profile and the role to offer by the panel. The interview panel will consist of Axis bank officials.Self attested photocopy of the graduation degree/ mark sheet, an identity proof and duly filled job application form should be kept ready for submission at the time of PI.The candidates will have to appear for the Online Aptitude Test and Personal Interview at their own expense.After successful screening, the candidates will have to undergo pre-joining medical and background verification process. They will have to submit a self-declaration medical fitness form. Bank will also verify their education qualifications and background.The selected applicants will be issued admission and provisional letter of appointment from Axis bank towards their future employment.ABYB programCandidates who are finally selected are required to undergo 1 year, full time residential program at Manipal Global Education in Bangalore Or Amity Global Business School in Noida. The classes for the upcoming batch are scheduled to start between June 6 – 9, 2017.As part of the curriculum, candidates will undergo 9-month classroom sessions and 3-month internship at any Axis bank branch. During the course of training, monthly stipend of Rs. 5000 (for 9 months) and Rs.12000 (for internship) would be paid.Application processCandidates interested in applying for the ABYB program can apply. Here is a step-by-step process on how to:1. Visit the official website www.axisbank.com2. Click on the Careers tab at the bottom of the page followed Young Bankers Program3. Or go directly to the Young Bankers Program page4. Click on Apply Now tab at the left of the page5. Fill up the application forms that opens up6. Pay the application fees after completing the application process7. Two emails will be sent to the registered e-mail id: first consists of the myamcat user id and password, and second to confirm receipt of application fees.The application fee of Rs. 500 is only for new registrants, and should be submitted along with the online application form before March 19, 2017.In case a candidate has already appeared for the Aspiring Minds Computer Adaptive Test (AMCAT), he/she does not need to take a fresh test. Based on the eligibility criteria of the program and AMCAT score, the candidate may be invited for the personal interview. ?Program feesInterested applicant will have to invest Rs 3,40,000 plus service tax, Swachh Bharat cess and Krishi Kalyan Cess. The payment will cover the tuition fees, boarding, lodging for the entire course. It is important to note here that there is no service bond and the fees paid will not be refunded later.The payment structure:TermFeesService Tax @ 14%Swachh Bharat Cess @ 0.5%Krishi Kalyan Cess @ 0.5%Term Sum1110000154005505501,26,5002115000161005755751,32,2503115000161005755751,32,250Total3,40,0004760017001700391,,000The candidate can apply for the Education Loan from Axis bank.Details about the bank loan:TermsDetailsEligibilityStudent should be an Indian national and should have been selected under the Axis Young Bankers ProgramCourse namePost Graduate Diploma in Banking ServicesRate of interest12. 75 % (Fixed rate)Maximum loan amount4 lakh (inclusive of course fees, service tax & insurance premium)Processing feesNilOther chargesA lumpsum amount of Rs. 2,000will be collected towards out of pocket expenses like stamp duty and document franking etc.Penalty for early closureNilPrepayment chargesNilCharges for late paymentRs 500 + taxes per cheque bounce and a penal interest @ 24% per annum i.e. @ 2% per month on the overdue instalment/sRepayment instruction/instrument return chargesRs 500 plus service tax as applicable per instanceRepaymentInterest servicing during the moratorium period. EMI repayment will start on completion of the moratorium period.Mode of repaymentInterest/EMI repayments will be recovered on a monthly basis from the stipend account based on the standing instruction from the student.Maximum moratorium period18 months (i.e. course period + six months)Maximum repayment period5 years (Starts six months after the candidate has joined the active service with Axis Bank)Loan disbursementAs per fee payment schedule. The payment will be made directly to the institute.Co-applicantThe co-applicant should be parent(s)/guardian of the student borrower. In case of married person, co-applicant can be spouse or the parent(s)/parents-in-lawInsuranceOn the loan amount availed. Insurance amount can be included in the loan amount.Tentative interest amount (per lakh) during moratorium periodApproximately Rs 1,083Tentative EMI amount (per lakh) post moratorium periodApproximately Rs. 2,263ABYB program curriculumThe one-year PGDB program comprises four trimesters of 13 weeks each. While the first three trimesters would be conducted on campus, the fourth trimester would be internship at a designated branch of Axis Bank across the country.Classes will be held five days a week, Monday to Friday, and on Saturday candidates will be assigned to other curricular activities such as branch visits and e-learning modules. Formal classroom sessions will start from 9:00 AM and comprise seven sessions of 65 minutes each till 6:00 PM each day.Apart from the regular classes, the candidates would be required to take part in additional curricular and extra-curricular activities. Some Sundays and weekends maybe dedicated to training sessions or classes depending on academic needs. They would be required to attend 90% classes. Any leave of absence would be given only with the specific permission of the Program Coordinator.Credits have been assigned to each course based on the hours of study/learning and other associated activities like case studies, tutorial discussions, case-presentations, lectures, library work and practical-work in laboratories etc.The outline of the curriculum trimester-wise:First trimester: Basics of Banking, IT in Banking, Business communication, Managerial Economics, Business Mathematics and Statistics, Accounting, General managementSecond trimester: Banking and allied services, Banking environment, Advanced Business communication, Receipts and Payment systems, LendingThird trimester: Areas of learning covered will comprise of Financial Planning, Foreign Exchange, Credit Risk management, Retail banking, Treasury Management, Recovery Management, Business analyticsFourth trimester: On the job learning, in form of internship and project workThrough this program, Axix bank hopes to empower a young banker to demonstrate a systematic understanding of banking concepts, procedures and systems, gain critical awareness of current challenges and new trends in the industry, demonstrate an ability to communicate effectively in business situations and become a fair and responsible banker.