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PGPSM Prospectus 2011-12
PGPSM Prospectus 2011-12
PROSPECTUS 2011-2012
National Institute of
Securities MarketS
An Educational Initiative by
National Institute
of Securities Markets (NISM)
• Mr. U. K. Sinha, Chairman, SEBI (Chairman, Board of • Dr. Pritam Singh, Professor of Eminence,
Governors) Management Development Institute, Gurgaon
• Mr. M. S. Sahoo, Whole Time Member, SEBI • Prof. R. Vaidyanathan, Professor of Finance, IIM,
• Dr. K. M. Abraham, Whole Time Member, SEBI Bangalore
• Dr. K. P. Krishnan, Secretary, Economic Advisory • Prof. Sanjay Kallapur, Senior Associate Dean – Faculty
Council to the Prime Minister and Research, Indian School of Business, Hyderabad
• Dr. K. R. S. Murthy, Former Director, IIM Bangalore • Dr. Ajay Shah, Professor, National Institute of Public
• Mr. Y. C. Deveshwar, Chairman, ITC Ltd. Finance and Policy, New Delhi
• Mr. M. B. N. Rao, Former Chairman & Managing • Prof. G. Sethu, OSD-In-Charge, NISM
Director, Canara Bank
• Mr. Pratip Kar, Consultant, Global Corporate
Governance Forum, International Finance Corporation
• Dr. Mohan Gopal, Director, National Judicial Academy,
Bhopal
• Mr. P. K. Nagpal, Executive Director, SEBI
• Mr. Rafiq Dada, Senior Advocate, High Court, Mumbai
• Prof. G. Sethu, OSD-In-Charge, NISM
About the
School for Securities Education
Academic Team
Full-time/Adjunct Faculty 7
Visiting Faculty 8
Admission Procedure
Eligibility 10
Online Test 10
Cities and Towns where the test is likely to be conducted: 10
Personal Interview 10
Selection Procedure 11
Announcement of Selected Candidates 12
Sponsored Candidates 12
Documentation 12
Fees and Deposits 12
Educational Loan 14
Online Registration – Prospectus and Online Application 14
Last date for Online Registration 14
Hall Ticket 14
Important Dates 15
Post Graduate Programme in
Securities Markets (PGPSM)
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Estimated intake of entry level
personnel in securities business for 2011*
*
Estimates obtained from industry sources
2
Value Addition By completing the PGPSM, students would be able to:
from PGPSM • Abstract the building blocks of the securities markets, understand
them conceptually, and develop the capability to design solutions
that meet specific requirements
• Upgrade knowledge and skill sets necessary to perform the key
technical activities in the securities markets
• Develop a well-rounded, complete understanding of securities
markets
During the first three terms, students are expected to study a total
of 18 courses/subjects of 1 full credit each. Each credit would mean
approximately 30 hours of classroom inputs. In the fourth term,
students are required to undertake an internship project with an
organization in the securities industry.
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Programme Design and Content
The programme is a blend of conceptual and practical inputs, using multiple pedagogies. Participants will be
provided with research-based inputs, real life illustrations and practical insights.
Corporate Finance
(NISM reserves the right to add, modify, merge or delete any of the above mentioned courses/topics to
bring the curriculum in line with contemporary requirements.)
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Placement Facilitation
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Infrastructure
NISM Bhavan is an imposing structure, consisting of
six floors. The Institute has high quality infrastructure
consisting of classrooms, library, canteen and lounges
located on various floors of the building. NISM also has a
fine auditorium with a seating capacity of 80.
The hostel, NISM Niwas, also a 6-storey building, is located Awards and
about 2 Km from the Institute. It is meant for executives
who attend the executive education programmes of Scholarships
NISM.
The PGPSM student with the best academic performance
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Academic Team
Full-time/Adjunct Faculty
Prof. G. Sethu, Officer on Special Duty oriented research for the Central and State Governments.
In-Charge of NISM An adjunct faculty at IIM Kozhikode, he has also lectured
Prof. Sethu has 33 years of experience in teaching, at NIBM, NIA, NITIE and other institutes of national
research, advisory, and administration. He received importance. In addition to authoring papers in national
his B.Tech (Honours) from the Indian Institute of journals and international conferences, he has guided
Technology (IIT), Kharagpur; his MTech from IIT, Madras and refereed PhD studies.
and a Doctorate in Management with specialization in
Finance from the Indian Institute of Management (IIM), Dr. K Kiran Kumar, Assistant Professor
Ahmedabad. He has served in the Indian Administrative Dr. Kiran Kumar holds a PhD in Finance from the Indian
Service (IAS) during 1981-1991 and was part of XLRI Institute of Science, Bangalore and an MA in Economics
Jamshedpur and the UTI Institute of Capital Markets. He from Hyderabad Central University. His research focuses
has also been a member of many committees formed on Market Microstructure, Derivatives, and Applied
by SEBI and various industry and educational bodies. He Financial Econometrics. He has received five Best Paper
has served as board member on many companies. As awards in national and international conferences and has
visiting professor, he has taught Corporate Finance and published ten research papers. He has delivered lectures
Investment Management to MBA students in various at several research workshops including SAS Workshop
institutes including IIM Ahmedabad, IIM Indore and IIT for Researchers at Indian School of Business, Structural
Mumbai. VAR Models at RBI Staff College, and Econometrics
Workshop of Indian Econometric Society. Earlier, Dr.
Prof. Sunder Ram Korivi, Dean Kiran Kumar was with the Centre for Analytical Finance,
(School for Securities Education) Indian School of Business as Senior Researcher and
Prof. Korivi is an MA (Economics & Political Science) Researcher at ICICI Research Centre, Chennai. At NISM,
and PhD (Business Policy & Administration) from the in addition to his teaching and research responsibilities,
University of Mumbai. He is a Fellow of the Institute Dr. Kiran Kumar is also the Programme Director of the
of Chartered Accountants of India, Associate of the nine-month “Certificate in Financial Engineering and Risk
Institute of Cost & Works Accountants of India and an Management” programme and is also associated with
Associate of the Insurance Institute of India. A full-time the School for Securities Information and Research in
faculty member at SP Jain Institute of Management, he building the Network for Securities Market Data.
later became a Professor at NMIMS University, where
he also served as the Head of Departments of Finance Dr. Poonam Mehra, Assistant Professor
and Economics and as the Dean of the School of Business Dr. Poonam Mehra holds a PhD from the Indira Gandhi
Management. He has also served on various Boards Institute of Development Research (IGIDR), Mumbai. She
of the University, viz., Board of Management, Advisory has been a PhD scholar at University of Hamburg under
Board, Planning & Monitoring Board and as the Convener the European Union’s Asia link Scholarship Programme
of the Academic Council. His interests are in the fields (December 2006 - July 2008). She is a Gold medallist in
of Financial Reporting, Financial Institutions & Markets Economics (MSc) with specialization in Econometrics and
and Fixed Income Securities. He has conducted policy- Industrial Organization. Her teaching interests include
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Economics for Securities Markets, Mergers & Acquisitions, Financial Engineering. He is engaged in vital projects
Econometrics and Regulation in Securities Markets. such as the application of neural networks in financial
Her research interests include Applied Econometrics, analysis, credit ratings and trading algorithms involving
Corporate Finance, Institutional Economics and Applied pattern recognition.
Game Theory. She has published papers in international
journals and has presented her research work in several
Visiting Faculty
international conferences and workshops. NISM draws upon the best talent in academics and
industry to provide the finest learning environment.
Dr Rachana Baid, Adjunct Associate Professor Some of the resource persons for PGPSM are:
Dr. Rachana Baid is an MCom (Gold medallist) and PhD.
She specializes in Financial Systems and Regulatory Dr. Surendra Sundararajan
Policy. She has undertaken consulting assignments with Dr. Surendra Sundararajan, a Professor at MS Baroda
multilateral agencies such as the World Bank and has University, is an MA (Economics), LLB, MBA (Wisconsin),
been a visiting faculty at IIM Indore and SP Jain Institute and a PhD. He is an expert in Securities Markets and Risk
of Management. She has also served as an Assistant Management & Derivatives. He is also a visiting faculty
Professor at the UTI Institute of Capital Markets, Mumbai at SP Jain Institute of Management and Great Lakes
for about a decade. Institute of Management.
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Mr. Amit Trivedi interest include Financial Mathematics and Quantitative
A BE and an MBA, Mr. Amit Trivedi has worked with Finance.
Franklin Templeton MF and JM Financial. He is an expert
in the field of Personal Financial Planning, Wealth Mr. B. Renganathan
Management and Financial Advisory Services. Mr. Renganathan is a Cost Accountant and Fellow of the
Institute of Company Secretaries of India. He is Group
Mr. Nitin Tike Vice President – Compliance and Legal, at Edelweiss. His
Mr. Nitin Tike is a BSc and an MBA with over 20 years of areas of specialisation are Corporate Laws, Securities
experience in the securities markets, including a stint at Markets Regulation and Mergers & Acquisitions.
India Infoline.
Mr. Sundar Sankaran
Mr. Akhlaque Ahmed Mr. Sundar Sankaran is a Cost Accountant and an MBA
Mr. Akhlaque Ahmed is an MSc (Mathematics) from from IIM Ahmedabad. He has extensive experience in
Aligarh Muslim University and an MPhil from the the field of investments, including a stint with the Kotak
University of Mumbai. He is associated with the BSc Group. He is also an author of several books on Mutual
programme of the London School of Economics & Funds.
Political Sciences conducted at Mumbai. His areas of
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Admission Procedure
Eligibility Criteria
Minimum qualification:
A bachelor’s degree from a recognised Indian university
or equivalent with a minimum of 50% in aggregate.
Age:
There is no age limit for the programme, but it is desirable
that the candidate is below 30 years of age.
The student should provide the proof of identification
to the test administrator on demand. NISM reserves the
Online Test right to seek additional identification details, if necessary.
Candidates are required to appear for an online test. Cities and Towns where the test is likely to be
The duration of the test would be 120 minutes and the conducted:
maximum marks are 100. The online test would attempt
to assess the following attributes of a candidate: The online tests would be carried out in the following
1. Quantitative Aptitude - 40% cities/towns: Ahmedabad, Bengaluru, Bhubaneswar,
2. Analytical and Reasoning Skills - 25% Chennai, Goa, Secunderabad, Indore, Jaipur, Kolkata,
3. Language Proficiency - 25% Kochi, Lucknow, Mumbai, New Delhi, Patna, Ranchi,
4. General Knowledge of Financial Markets - 10% Faridabad, Chandigarh, Surat, Gurgaon, and Pune.
Each question would be a multiple choice question If the registrations at any centre exceed the capacity or
with four choices. Each correct answer would carry one falls well below the capacity of the test centre, NISM
mark. There would be negative marking of 0.25 for every reserves the right to shift the candidates to another test
wrong answer. centre and the same would be intimated to the respective
candidates by NISM. Candidates are required to report at
An applicant is required to register for the online test the test centre so intimated at the appropriate date and
at a test centre in select cities and towns as would time for taking the online test. For further details, visit
be indicated on the NISM website. The test will be the website, www.nism.ac.in/pgpsm
conducted on April 24 (Sunday), 2011. For guidance on
choice and availability of online test centre, kindly refer Personal Interview
to the following section on test centres.
Candidates will be shortlisted on the basis of marks
All candidates are required to carry ANY ONE of the obtained in (1) Profile and (2) Performance in the Online
following as proof of identification: Test for a personal interview. The shortlisted candidates
• PAN card will be intimated through email and/or letters. Personal
• Driving License interviews are likely to be held at Bengaluru, Chennai,
• Passport Hyderabad, Kolkata, Mumbai and New Delhi during
• Voter ID card May 7-22, 2011. NISM will intimate the exact date, time
• College Student Identity Card, current and valid OR and venue for the personal interview to the shortlisted
• Employer Identity Card, current and valid candidates.
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Selection Procedure
1 Profile
3 Essay 10%
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All expenses related to appearing for the online test and
personal interview shall be borne by the candidate. The
Institute will not bear or reimburse any expenditure in
this regard.
Documentation
The first list of selected candidates will be displayed
on the Institute’s website on May 25, 2011. Selected
Candidates shortlisted for the interview would have to
candidates would be required to pay the first instalment
show originals and submit self-attested photocopies of
of fees (see table of fees) on or before June 09, 2011.
the following documents at the time of interview:
Provisional admission offered to selected candidates
who do not pay the commitment fee on or before the
1. Graduation/Post Graduation certificate issued by the
stipulated date would automatically stand cancelled.
university/institute
2. Statement of marks of graduation/post graduation ex-
The second list of selected candidates will be announced
amination issued by the university/institute
on the Institute’s website on June 10, 2011 subject to
3. Date of Birth certificate (i.e., S.S.C., School Leaving
availability of seats. Selected candidates in the second list
Certificate or Birth Certificate issued by the Municipal/
would be required to pay their tuition fees and complete
Local authority)
all formalities before June 17, 2011. If a candidate does
4. Experience certificate from the employer, if applicable
not complete the formalities within the date specified,
the admission would automatically stand cancelled.
Fees and Deposits
Sponsored Candidates
The details of the fees, refundable deposits and non-
refundable charges payable to the Institute towards the
Sponsored candidates are those whose application
one-year PGPSM are as follows:
forms are forwarded to NISM through their respective
employers, being eligible organizations, as described
Fees
in the next paragraph. The employer should furnish an
undertaking to grant study leave to the said candidates
The total fee is Rs.2,00,000 (Rupees Two Lakhs only) for
and also undertake to bear all the fees.
the entire year. The fee is non-refundable. Students who
fail to pay the fee on time could face a penalty or could
Eligible organizations would include i) Government
be barred from attending classes.
Departments; ii) Public companies or Trusts registered
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The break-up of the fee is as under:
4 Total 2,00,000
Refundable Deposits#
In addition, the admitted students are required to pay refundable deposits, subject to
terms and conditions as detailed below:
*Applicable for students availing of hostel facility. All hostel rooms are non-A/C.
# Deposits are refundable subject to adjustment of any dues from the students.
Non-Refundable Charges
The students are also required to pay the following charges which are non-refundable.
*Applicable for students availing of hostel facility. These are paid separately and directly
to the care-taker in cash every month.
** Applicable to day-scholars only.
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Educational Loan Last date for Online Registration
The Institute facilitates students in securing educational The last date for online registration is April 18, 2011.
loans. At present, the Institute has arrangements to direct Please DO NOT forward copies of any certificate along
applicants to Credila and HDFC Bank. Arrangements with with application form.
more institutions are underway.
Hall Ticket
It is to be understood that NISM does not recommend or
guarantee the loans. Upon completion of formalities of online registration
and payment, the hall ticket would be generated and
In the event of any delay in securing loans, students have displayed on the screen. The candidate is required to take
to arrange for their own funds to pay all the fees, deposits a print of the hall ticket and affix a self-attested passport-
and charges as per the payment schedule provided at the sized photograph on the hall ticket. The printed copy of
time of joining the programme. However, on a later date, the hall ticket with photo affixed should be produced
if the loan is secured, the amounts paid by the student when the candidate arrives at the test centre to take the
will be refunded without any interest on receipt of the online admission test.
amounts from the entity that has offered the loan to the
student.
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Enquiries
The Institute reserves the right to postpone or cancel the • Last date for Online Registration is April 18, 2011
dates of online test and/or personal interview. Also, the • Recent Photographs have to be uploaded for Online
Institute reserves the right to modify/change or cancel Registration
any test centre and/or personal interview centre. • Date for Online Test is April 24 , 2011
• Please visit the website www.nism.ac.in/pgpsm for
Candidates are also advised to visit the Institute’s website further updates and information
for any updates and other information regularly.
Important Dates
7 22 Personal 25 Announcement of
first list of selected 9 Payment of fees by first
May May interviews May candidates June list of candidates
10 Announcement of
second list of selected 17 Payment of fees by 22 Last date of completing
all formalities and
June candidates June second list of candidates June registration
22 Inauguration of the
23 Commencement of
June programme June programme
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All correspondence may be addressed to:
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Apply Online:
www.nism.ac.in/pgpsm