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Fellow Programme in Management (FPM)


National Institute of Financial Management

(An Autonomous Institute under the Ministry of Finance, Government of India)

Sl. Description Page

1. Message from the Director 3

2. About the NIFM 4-6

 The Institute
 Members of the NIFM Society
 Academic Advisory Council of NIFM

3. General Information 7-11

 Security in the Hostel
 Rules for NIFM Hostel
 Medical Services
 NIFM Library
 Computer Centre
 Co-Curricular Activities

4. NIFM Faculty 12-13

5. Fellow Program in Management (FPM) 14-19

6. Application Form 20-21

Naattiioonnaall IInnssttiittuuttee ooff FFiinnaanncciiaall M

Meessssaaggee ffrroom
m tthhee D

T he National Institute of Financial Management (NIFM) was set up in 1993 under

the Ministry of Finance, Government of India as a premier training institution
for officers recruited by the Union Public Service Commission (UPSC) and
responsible for manning senior and top management posts dealing with accounts
and finance in the Government of India. Since its beginning, the NIFM has been
imparting training in above mentioned areas with par excellence making an indelible
mark in this field. With an objective to further extend its reach and serve its clientele
at a larger scale, the Institute has, in due course of time, added some more important
and relevant long-term programs, namely, Professional Training Course (PTC); Post-
Graduate Diploma in Financial Management (PGDFM); and Diploma in
Government Account & Internal Audit (DGA&IA); all duly approved by the
AICTE, to its fold. It is a matter of great satisfaction and encouragement that the
NIFM has by now emerged as a “Centre of Excellence” in training and education in
Financial Management in and outside India.

I t has been our continuous endeavor to improve our performance so that the
Institute serves its purpose more effectively. For this, it requires, among other
things, to create and develop new knowledge in its domain areas to make training
and education more and more relevant for the changing requirements of the time.
There is evidence to believe that education and research strengthen each other in a
virtuous manner. It is with this realization that the NIFM is proposing to start the
Doctoral Level Program known as the “Fellow Program in Management (FPM)”,
equivalent to Ph. D., within its domain from July, 2009.

B ased on the guidelines followed by other premier management institutes in India

in this regard, we have designed our Fellow Program as much as possible
appropriate and relevant to serve its purpose. I, on behalf of the NIFM and my
own, invite the FPM aspirants to apply for the program to be benefited from our
modest endeavor.

I wish the Fellow Program of the NIFM all the success and its students all the best.

(G. P. Gupta)

Abboouutt N
Thhee IInnssttiittuuttee

T he National Institute of Financial Management (NIFM) was set up in 1993 on

the basis of a proposal made by Ministry of Finance, which was approved by
the Union Cabinet. The Union Cabinet envisaged that NIFM would begin as a
training institution for officers recruited by the Union Public Service Commission
(UPSC) through the annual Civil Service Examinations and allocated to the various
services responsible for manning senior and top management posts dealing with
accounts and finance in the Government of India. NIFM was to develop as a centre
of excellence in the areas of Financial Management and related disciplines “not only
in India but also in Asia”.

I n order to ensure that NIFM enjoys a greater degree of flexibility and autonomy
than the departmental academies that existed at that time for officers training, it
was decided that the institute would be a legal entity known as ‘Society’. Such
societies are legally independent entities authorized to frame their own rules and
regulations. This structure makes available greater autonomy in both academic and
administrative matters to the Institute, facilitating quick decision making in response
to changing perceptions of desired goals and objectives.

D espite the legally autonomous character of the Institute, making the Finance
Minister of Government of India, the President of the Society, ensured a
very close linkage with Government. For administrative purposes, there is a
Governing Board chaired by the Secretary (Expenditure). The Director appointed
by the Appointments Committee of the Cabinet is responsible for the administration
and academic programs of the Institute. It will thus be seen that the Institute has
close links and direct access to Government of India.

T he Institute recruits its faculty either by deputation from Civil Services or by

selection from the best in the academic field. The institute therefore has a
distinct advantage of a mix of faculty from academic as well as government sector.
The Institute adheres to norms prescribed by the All India Council for Technical
Education with respect to faculty qualifications and strength.

T he Institute maintains a wide network of ‘guest faculty’ who are called upon to
teach topics in which they specialize. There is also an adjunct faculty
arrangement to take advantage of the specialized coverage of courses.

mbbeerrss ooff tthhee N
M SSoocciieettyy

Shri Pranab Mukherjee Hon’ble Union Finance Minister, Government of India

Ms. Sushma Nath Secretary (Expenditure), Ministry of Finance,

Government of India

Ms. Bharti Prasad Dy. Comptroller & Auditor General of India

Shri V.N. Kaila Controller General of Accounts, Government of India

Shri R. Ashok Member (Finance) Telecom, Telecom Commission,

Government of India

Ms. Sudha Chobe Financial Commissioner (Railways), Government of


Ms. Bulbul Ghosh Controller General of Defence Accounts, Government of


Shri Dharam Vir Chief Secretary, Government of Haryana

Shri G.P. Gupta Director, NIFM

Shri D.C. Bajaj Addl. Chief Advisor (Cost), Ministry of Finance,

Government of India

Shri T.N. Thakur Chairman & Managing Director, Power Trading

Corporation of India, N.Delhi

Dr. P.K. Jain Professor, Department of Management Studies, Indian

Institute of Technology, Delhi

Dr. A K Bhattacharya Professor, Indian Institute of Management, Kolkata

Dr. S S Yadav Professor and Head, Dept. of Management Studies, IIT


Dr. J K Mitra Professor and Dean, Faculty of Management Studies,

Delhi University.

miicc AAddvviissoorryy C
Coouunncciill ooff N

Shri G.P. Gupta Director, NIFM

Shri T.N. Thakur C & MD, Power Trading Corporation of

India, New Delhi

Dr. P.K. Jain Professor, Department of Management

Studies, Indian Institute of Technology, Delhi

Dr. A K Bhattacharya Professor, Indian Institute of Management,


Dr. R Ravi Kumar Professor (OB & HR), Indian Institute of

Management, Bangalore

Dr. Karuna Jain Professor, IIT Mumbai, Institute of Chartered

Accountants of India

Smt. Sunita Trivedi Chief General Manager, Postal Life

Insurance, Department of Posts, Government
of India

Dr. K P Kaushik Professor, NIFM

Dr. A K Sharan Professor & Coordinator, PGDBM (FM),


Dr. S S Khanka Professor, NIFM

Dr. (Smt.) Namrata Agrawal Professor, NIFM


The Campus

The Institute is located on a plot of land measuring over 40 acres on the Pali Road.
The Institute building is beautifully landscaped, with a unique architectural design.
Its sprawling lush green lawns, luxurious green cover around with perennial shrubs,
flowers and trees make the Campus an ideal place for serious studies as well as
recreation in the midst of nature.

Accommodation - NIFM Hostel

The hostel building which matches in design with the main Institute building has
accommodation for about 175 trainees on single and double occupancy basis.

Officer trainees are expected to maintain their rooms themselves. Beds must be
made when not in use. Electrical Appliances, lights & taps must be switched off
when Officer-trainees leave their rooms or when otherwise not required. Damage to
Institute property caused through negligence will have to be made good by the
concerned officer trainee.

- Daily newspapers/magazines are available for reading in the lounge (Ground

Floor) of the hostel.
- Two internet labs have been provided in Hostel lobby with computers.
- Five Washing Machines have been installed in the Hostel for use by the
Probationers / trainees officers.
- Reverse Osmosis Water Filters are installed in the Hostel. Probationers are
advised not to drink unfiltered water.
- Two lines have been provided in the hostel to avail STD facility through VCC
cards or conferencing on payment basis.

Security in the Hostel

Hostel Attendants are available in the hostel round the clock to facilitate the officer
trainees. Officer trainees are required to follow the following security instructions
strictly as under :

i) Officer trainees should put their own locks in the hostel rooms.
ii) Valuable articles such as jewelry, cash etc. should not be kept in the hostel
iii) Before leaving the rooms, the doors opening in the balconies must be
properly bolted/locked & keys should not be left with the room boys.
iv) Cleaning of the rooms in the hostel should be got done by the officer
trainees in their presence.
v) Reception Staff should not be sent on private errands.

vi) Any suspicious movement of persons be immediately reported to the
Security Guard / Reception Desk and / or Security Officer or Faculty-in-
chare (Security).
vii) Individual lockers are provided at the Ground Floor for receiving mail and
also for official communications issued by NIFM. Officer trainees are
expected to check their lockers on a regular basis.


The Officers’ Mess comprises of an air-conditioned lounge and an air-conditioned

Dining Hall. The mess food is provided by a contractor. The probationers are
expected to strictly observe the meal timings.

Rules for NIFM Hostel

1. The hostel accommodation is primarily meant for participants of residential

training programs / courses conducted by the Institute from time to time,
visiting guest faculty and for the chairman & members of the Governing Body
who visit the Institute for attending meetings or in connection with any other

2. Visitors to the hostel will not be permitted after 10:00 P.M. They will have to
leave the campus by 10:00 P.M. NIFM reserves the right of admission of a
visitor to the hostel.

3. The security personnel/Reception Desk are under instructions to keep the

entrance doors of the Hostel locked from 11:00 PM till 5:00 A.M. Entrance or
Exit during the said period shall have to be duly explained to the appropriate

4. Cooking of any food item or preparation of tea/coffee in the hostel room is not

5. Hostel residents will be responsible for any loss or damage caused to the
property of the Institute, whether movable or immovable, either by themselves
or by the spouse, relative(s) or visitor(s).

6. The residents are expected to allow employees of the Hostel Administration to

access their rooms for cleaning, repairs, and maintenance and security purposes.

7. The residents are required to use ash-trays, waste-paper baskets etc and
otherwise cooperate with the hostel management in maintaining cleanliness.

8. The residents are not allowed to assign any personal work to the employees of
the Hostel Administration.

9. In order to conserve energy & water and avoid waste, the residents are expected
to switch off the lights, fans etc. and close the bathroom and washbasin taps
after use. They should put the Main Switch off while leaving their rooms.

10. Any music system etc. which causes disturbance and inconvenience to others will
not be allowed to be used in the Hostel premises.

11. Electrical appliances such as TV, Fridge, AC etc. can not be installed in the
allotted rooms.

12. Officer trainees who have been permitted station leave by the Course
Coordinator must inform the Hostel Manager before leaving. A register is
available at the Hostel Reception in which Departure and Arrival time has to be
recorded. Officer trainees are not allowed to stay outside the Hostel overnight
without prior permission.

13. Particulars of all motor vehicles (cars, scooters, motor cycles) owned by
Probationers residing in the hostel must be intimated to the Hostel Manager.
Their parking in the Campus will be solely at the risk and responsibility of the
owner. NIFM will be in no way responsible for any loss.

14. Consumption of alcoholic drinks, narcotics or any kind of intoxicants is strictly

prohibited in the Hostel premises. Those found violating this rule are liable for
disciplinary action. Smoking is not permitted during lectures, practical classes,
tests etc.

15. The residents should take care of their personal belongings and use their own
locks in the rooms. However, keys of built-in cupboards/tables are to be kept in
possession by the residents carefully. In case of misplacement or loss, the fact
should be immediately reported to the Hostel Administration. In case of loss of
key to furniture / fixture or room, a sum of Rs. 100/- per key shall be charged
for replacement.

16. The Hostel Administration reserves the right to inspect the Hostel rooms at any

17. Officer trainees should take the Morning tea, Breakfast, Lunch and Dinner in the
Mess only. Food is not served in hostel rooms except in the case of declared
sickness followed by a sick diet.

18. Catering facilities are available in the Dining Hall of the Institute as per timings
given below:

Morning Tea - 6:00 am to 6:30 am

Breakfast - 8:00 am to 8:45 am
Lunch - 1:15 pm to 2:15 pm
Dinner - 8:00 pm to 9:30 pm

19. Exemption in Mess Bill would be made available only on the production of
sanctioned leave or station leave for the weekend. Not taking meal for a part of
the day will not entitle the resident to any exemption/rebate in the Mess Bill.

20. Officer trainees are required to pay Rs.400/- per month as license fee for room,
furnishing charges and services such as electricity, water charges, cleaning etc.

21. Mess Committee: There will be a Mess Committee consisting of officer trainees
and one nominee representing PGDBM (FM) officers to be nominated by the
Program Coordinator PGDBM (FM), which will be responsible for deciding the
menu for normal and special occasions and for arranging tasty and healthy food.
The Mess Committee will also organize dinners on special occasions. It will also
responsible for the quality check of the food during its preparation stage. For
this purpose it may nominate one probationer on rotation basis each day to
carry-out quality check of the food.

Medical Services

A Medical Officer (presently Dr. K.S. Jindal) visits the hostel everyday (except
holidays and Sundays) to provide medical services to the officer trainees at certain
specified hours. He can also be contacted at odd hours in case of emergency on
telephone nos. 2417206 (Clinic) and 2284028 (Residence). Serious cases are referred
to the Escorts Medical Centre on the advice of Dr. Jindal.

NIFM Library

About the Library: - NIFM Library is covering approximately 1000 sq. meter of
carpet area with two floors. The library is fully computerized and used bar-code
technology for circulation and stock verification. Further more, the library
subscribes on-line databases.
Library Resources: The library has a large variety of knowledge resources. It holds a
very rich collection of printed as well as electronic resources which include books,
journals, databases, case studies, trend reports and policy documents etc. The total
collection of the library is over 30,000. The library also maintains a selective
collection of CD-ROMs, Video Cassettes and Bound Periodicals. Besides that,
library subscribes 84 Indian, 26 foreign journals, 17 Magazines and 19 Newspapers.
Further more, the library has 18609 indexed articles. In addition, the library has
developed on archive on finance and other related subjects which contains World
Bank, CAG, IMF, RBI and Government documents. Library is also a member of

 Monday to Friday -- 9 am to 7 pm
 Saturday -- 10 am to 2 pm
 2 Saturday, Sundays and Holidays -- Closed

Library Rules

 Make sure to make entry in the visitor’s register while entering in the library
which is kept at library gate.
 Users can borrow up to 10 Books and 5 Rules Books (Muthu Swamy) for 4
Weeks. They can also borrow 2 old magazines for one day only. Reference
books, Current Journals/magazines will not be issued.
 After the due date, over due will be charged Rs. 5.00 per day on each book
and the same will be collected at the time of NOC.
 Xerox facility is available @ 1.00 per exposure.
 Books will not be issued without membership card. In case lose of card,
report immediately at the circulation counter.
 In case any book is lost or damaged, it has to be replaced by the officer /
trainee. In case replacement is not possible, cost of the book will be realized.
If any issue of the periodicals is lost or damaged, the borrower will be
required to pay the cost of whole set of periodicals.

Computer Centre

NIFM has two modern states of art computer labs having all Pentium-IV machines
connected by Local Area Network and 2 Mbps internet connectivity. The timings
are as under:

 Working Days - 09:00 a.m. to 6:00 p.m.

 Saturday - 10:00 a.m. to 2:00 p.m.

The campus is covered with wi – fi internet connectivity also. A few Computers

have also been provided in the hostel for the benefit of the officer trainees.
Computer Labs in Hostel will remain open for 24X7.

Co-Curricular Activities

Officer trainees are expected to constitute the following Committees / Clubs for
organizing co-curricular activities. These Committees shall have 4-5 elected/selected
representatives including the Secretary.

 Sport & Cultural Activities Committees : These two Committees will

organize cultural programs and
sports activities and tournaments
respectively. Facilities for games
like basket ball, volleyball, table
tennis, tennis, cricket, badminton,
billiards, carom, chess etc. are
available in the Campus. A state-
of-art gymnasium has also been
set up.

 Literary and Debating Club : This club is responsible for
organizing literary and debating
activities in the campus. It also
takes responsibility for brining out
officer trainee’s magazine,
 Weekend Activities Club : This club is responsible for
organizing group activities like
excursions, trips to nearby places
etc. on weekends.


Director Shri G. P. Gupta is an officer of the 1983 batch of the

Indian Civil Accounts Service (ICAS). Shri Gupta has Post
Graduation qualification in Commerce in Management,
besides having professional degrees in the areas of Accounts
and Audit. He is an MBA from the University of Hull,
United Kingdom.
Dr. K. P. Kaushik Professor (Financial Management) M.Com., Ph.D. His
areas of interest are Financial Management and Accounting.
Dr. A. K. Sharan Professor Public Finance and (Economics) M.A., Ph.D.
(Business Economics). His areas of interest are Fiscal
Management, Banking, Entrepreneurship and Small Scale
Dr. S. S. Khanka Professor (Human Resources) M.Com., Ph.D. His areas
of interest are teaching and research in human resource
management, organizational behaviour, entrepreneurship
development, and general management.
Dr. Namrata Professor (Computers and MIS) M.C.A. (Hons), Ph.D.
Agrawal Her areas of interest are Applied IT, Computer Networks,
E-Governance, Cyber Security & Computerized
Dr. A. M. Sherry Associate Professor (SG), (Accounts) M.Com., Ph.D. His
areas of interest are Financial Reporting Standards,
Accountancy and Taxation.
Dr. Alok Pandey Associate Professor (SG), (Finance & Accounts). His
areas of interest are finance and accounts.
Dr. S. Teki Associate Professor (Finance & Accounts) M.Com,
M.B.A., Ph.D. His areas of interest are Management
Accounting, Micro Finance and Marketing.
Dr. Brajesh Kumar Faculty Associate (Economics), M.A., Ph.D. His areas of
interest are Managerial Economics, Financial Econometrics
and Computer Applications in Economics.
Dr. Jaya Bhalla Research Associate (Human Resources), M.Com.,
Ph.D. Her areas of interest are teaching and research in the
contemporary themes in human resources management and
Dr. Vinod Gautam Asstt. Librarian M. Lib., Ph.D. in Library Information
Science. His area of interest is Library Automation.

Faculty on Contract

Dr. Vinti Agarwal Associate Professor, M.A. (Economics,) Ph.D. Her areas of
interest are teaching and research in corporate and Public
Financial Management.
Dr. S. K. Sahu Associate Professor, M.A. (Statistics,) Ph.D. His areas of
interest are teaching and research in Materials Management
System, Application of Quantitative Techniques in Business
and Research.


Sh. B.S. A Senior Officer of the Indian Audit & Accounts Service.
Ramaswamy He retired as Additional Secretary to the Government of
India. As a guest faculty, he covers the areas of tendering
and contract management.
Sh. R.N. Ghosh B.Tech and retired as Additional Director General from
DGS&D. As a guest faculty he covers specialized areas
concerning ‘procurement management in government’ –
both, with domestic funds as well as with funds from World
Bank & Asian Development Bank.



The objective of the Fellow Program in Management (FPM), a Doctoral level

program of NIFM Faridabad, is to develop scholars for distinguished careers in
teaching, training, research, and consultancy in management.

Structure of the Program

The Fellow Program, a Doctoral level program, is the highest academic qualification
any one can earn. It requires extended study and intense intellectual effort.
Therefore, one needs high level of commitment in order to successfully complete the
program. The program requires successful completion of two things – one must
master a specific subject completely, and one must extend the body of knowledge
about that subject. Accordingly, the program consists of two phases. The first phase
of the program consists of course-work involving Fellow program level courses
followed by a comprehensive qualifying examination. The second phase of the
program consists of Thesis work involving preparation of a Thesis proposal,
conducting research stated in the proposal, Thesis development and its examination.

The Program has the following components:

• Mandatory Course work

• Comprehensive Qualifying Test (CQT)
• Formulation, presentation and submission of research proposal
• Preparation and submission of the dissertation, evaluation, and defense

Mandatory Course Work

The FPM students during the first one and half year will have to undergo a
mandatory course work to acquire knowledge in financial management. The course
work consists of three types of courses as follows:

Sl. Types of Courses Duration

Module 1 Base Courses (06 Papers) 06Months

Compulsory Courses (02 Papers)
1. Research Methodology (including SPSS) 3 Credits
2. Strategic Financial Management 3 Credits
Optional Courses (04 Papers)
1. Economics: Theory, Policy and Applications 3 Credits
2. Financial and Cost Accounting 3 Credits
3. Corporate Finance 3 Credits
4. Written Analysis and Communication 3 Credits
5. Economic Growth and Development 3 Credits
6. Public Expenditure and Financial Administration 3 Credits
Module 2 Advanced Courses (06 Papers) 06 Months
Compulsory Courses (02 Papers)

1. Financial Econometrics 3 Credits
2. Security Analysis and Portfolio Management 3 Credits
Optional Courses (04 Papers)
1. Financial Markets, Institutions and Governance 3 Credits
2. Corporate Tax Planning 3 Credits
3. Advanced Corporate Finance 3 Credits
4. Micro Finance 3 Credits
5. Corporate Restructuring and Valuation 3 Credits
6. International Finance 3 Credits
Module 3 Integrated Courses (06 Papers) 06 Months
Compulsory Courses (02 Papers)
1. Data Collection and Dissemination: Methods & 3 Credits
2. Computer Application in Qualitative and 3 Credits
Quantitative Research
Optional Courses (04 Papers)
1. Behavioural Finance 3 Credits
2. Venture Capital & Entrepreneurial Finance 3 Credits
3. Fixed Income Securities 3 Credits
4. Financial Engineering 3 Credits
5. Agri Finance 3 Credits
6. Project Analysis, Evaluation & Financing 3 Credits

There will be examination at the end of each semester to examine the knowledge
acquired by the students during the particular semester.

Comprehensive Qualifying Test

On completion of the one and half years of course work, the FPM students are
required to take the ‘Comprehensive Qualifying Test (CQT)’ covering the courses
taught during all the three semesters. Students will be eligible to appear in the CQT
only after having a minimum of 75% attendance during the course work. The
students who do not fulfill the minimum attendance norm of 75% during the course
work will be treated as failed in the course work do not fulfill the minimum
attendance norm of 75% during the course work will be treated as failed in the
course work. The CQT intents to test whether the student has obtained a satisfactory
level of knowledge in his / her field of specialization and whether he/she has
satisfactorily integrated the various courses taken by him/her in the area. The
student is required to obtain corresponding to a minimum of 50% marks for
continuance of the program.

The evaluation of the Course Work will be done using Grading System in 10-point
scale, with a corresponding letter grade, as given below:

Letter Grade Descr- Letter Grade Descr-

Grade Point iption Grade Point iption
A+ 10 Exceptional C+ 4 Satisfactory
A 9 Excellent C 3 Low Pass
A- 8 Proficient C- 2 Poor
B+ 7 Very Good D 1 Very Poor
B 6 Good F 0 Fail
B- 5 Fair I - Incomplete

In each course, the student will be awarded a letter grade only, which should be
communicated to the FPM Office. Courses completed with an F or I Grade will not
count for course work requirements.

Comprehensive qualifying test (CQT) will judge a student’s knowledge of both their
primary and secondary knowledge domains of specialization. The CQT will include a
written examination and a viva voce. The weightage for these two components of
CQT will be as follows:

Written Examination : 70 %
Viva Voce : 30 %

Formulation, Presentation, and Submission of the Thesis Proposal

After qualifying the CQT, the student enters the thesis preparation stage. The
student first identifies thesis supervisor, thesis topic, develops a thesis proposal on it,
submits it, and presents the same before the ‘Doctoral Committee (DC)’. The thesis
proposal submission should not exceed 24 months from the date of admission. The
DC is a three member committee with two subject experts who may be from outside
the NIFM also. In case the DC requires the thesis proposal to be revised or
modified, the same should be done within two weeks of the proposal presentation.

The role of the DC will include:

• Giving guidance about the nature of research work and standards expected,
about the planning of the research program, about literature and sources, and
even about the problem of plagiarism.
• Maintaining contact with research work through regular tutorial and seminar
meetings as per arrangements made with the student.
• Giving detailed advice on the necessary completion schedule of successive stages
of the work so that the whole work may be submitted within the scheduled time.
• Ensuring that the student is made aware of inadequacy of progress, or of
standards of work below that expected.

Monitoring student work and academic progress will normally be exercised through
such activities as regular meetings with students, written feedback on progress in
general and on drafts of thesis chapters, and regular reports monitored by the DC.

Changing the DC Membership

The need for changing the DC could arise when any of the existing members leaves
NIFM. This could happen on the following two situations: (a) before the proposal
defense is complete, or (b) after it. Within each of these two situations, the member
may fall into one of the two categories: (i) Chief Thesis Supervisor may leave, or (ii)

any other member may leave. The above situations will be resolved according to the
following procedure:

Change of Chief Supervisor Change of Other supervisors

Will be changed with another Will be changed with another faculty
committee member from the same member from any other area on
area, or will be another faculty grounds of relevant knowledge and
member from the same area. / or experience.
Will be changed with another Will be changed if the research is in
member from the same area, if the its initial stage and / or if the exit of
research is in its initial stage and/ outgoing faculty (supervisor) will not
or it is not possible for the cause serious damage to the research
outgoing supervisor to give time progress (as judged by other
for supervision. members and student).
-Will continue if the research is in -will continue if the research is in
final stage and / or it is possible for final stage and / or if the exit of
the outgoing faculty (supervisor to outgoing faulty will cause serious
continue giving time for damage to the research progress (as
supervision. judged by other members and
student), and the outgoing faculty is
willing to continue giving time for

Preparation and Submission of the Thesis, Evaluation, and Defense

On approval of the thesis topic, the student works closely with the DC on his/her
dissertation work. On completion of research work, the student has to request to the
research Cell for a pre-submission seminar about three months before submitting the
thesis for examination. On recommendation of the Research Cell, the Director of
the NIFM will appoint “Thesis Examination Committee (TEC)”. The TEC will
consist of four members- two internal and two external. At least one of the external
members should be from the DC. However, in case of abnormal circumstances, the
above clause can be relaxed.

The student presents pre-submission seminar (defense) on his / her research work
before the TEC and NIFM faculty members and gets the feedback, if any, to
improve the quality of the thesis. The main purpose of the pre-submission seminar is
to perform an internal peer vetting before the dissertation is finalized and sent for
evaluation to the external examiners. Based on pre-submission seminar, it is also
assumed that the TEC has already put the student through a rigorous vetting process
by questioning or examining student’s research work. In case the pre-submission
defense is found weak, the student may be asked by the TEC for revision of the
work before submitting the thesis, in consultation with the

Once the TEC vets the pre-submission seminar given by the student, he / she can
submit his/ her thesis for examination. The thesis is expected to demonstrate a
distinct contribution to the knowledge of the subject and should provide the
evidence of discovery of new facts; the general ability to conceptualize, design and

implement a project for the generation of new knowledge, application and / or
understanding in the management discipline; and a sound understanding of
applicable tools and techniques used in research in management discipline. After
evaluation of the thesis, the student will make an open defense of the thesis.

Areas of Specialization

The Program is offered in the following areas of specialization:

• Finance,
• Accounting, and
• Related areas.


The students who successfully complete all requirements of the program will be
eligible for the award of the title of “Fellow of the National Institute of Financial
Management Faridabad”.

Duration, Residency and Financial Aid

The Fellow Program will start from July 2009. It will be structured under two phases,
namely, course work and dissertation work spread over four years. In case of
completion of dissertation before four years, Director’s special permission will be
required for pre-submission seminar. In case a student is unable to complete his/her
dissertation by four years, he/ she can be granted extension of maximum one year by
the Director on recommendation of the ‘Doctoral Committee (DC).’ If a student
fails to complete the requirements of the fellow program within the specified period
of five years, he/she has to withdraw from the program.

The Fellow Program will be compulsorily residential for the first two years and the
remaining two years will be optional for the students whether to reside or not in the
NIFM Campus. No fees in terms of admission and tuition will be charged to the
students of the fellow program of the Institute. The students will be provided with a
fellowship for the residential period only @ Rs. 15,000/- per month for the initial
two years and @ Rs. 17,500/- per month for the subsequent two years. The students
will also be provided with Rs. 10,000/- per year as contingency grant during the four
years of the program. Besides, the students will also be granted travel grant of Rs.
20,000/- and Rs. 50,000/ for attending conferences held in India and abroad respectively
subject to a maximum of two times, whether the conference is held in India or abroad. The
student will get free of cost printing and stationary from the Institute. Books and softwares
desired by the students to pursue his / her research work will be provided through the
central library on recommendation of the supervisor. No fellowship and contingencies will
be extended to the students after completion of program duration, i.e. four years. If
extension exceeds six months period, a nominal fee will be charged to the student for
availing of the campus life.

Admission Eligibility

NIFM, for its Fellow program, will look for candidates with consistently good academic
record, professional accomplishments, and a strong urge to contribute to the creation and
dissemination of knowledge in the field of financial management. The eligibility of the
candidate for the fellow program will be a Master’s Degree (or equivalent, recognized by
AIU) in any discipline, with a minimum of 55% marks in aggregate. The professionals with
CA, ICWA and CS qualifications with a minimum of 55% marks will also be eligible for the
program. For SC/ST/OBC candidates, the eligibility conditions will be relaxed as per the
Government of India Rules.

Selection Process

A candidate who wishes to be considered for the FPM program of the NIFM must submit a
duly filled in prescribed application form which will be available from the FPM Cell of the
Institute or the web site of the Institute (http//www. The Admission Committee
will then screen the applications on the basis of academic records, experience, publication,
etc. in the ratio of 1:5 for appearing in the entrance test of the Institute followed by personal
interviews. Marks will be distributed into different components as follows:

Entrance Test - 50
Interview - 25
NET/JRF - 10
Publication - 10
Experience - 05
Total 100

Sector – 48, Pali Road, Faridabad (Haryana) – 121001

Paste one recent

passport size

Fellow Programme in Management
(Read the prospectus carefully before filling in the Form)

1. Programme applied for ………………………………………………….

2. Name in full (Block Letters)
3. a) (i) Father’s/Husband’s a) (i) …………………………………………………………..
Name (ii) …………………………………………………………
(ii) Occupation b) (i) ………………………………………………………….
(ii) …………………………………………………………
b) (i) Mother’s Name
(ii) Occupation
4. Guardian’s Name & Address …………………………………………………………………………………………………………………
……………………………………………………………… Pin

Phone No (with STD code) /Mobile No .:

5. Correspondence Address …………………………………………………………………………………………………………………


Phone No (with STD code)/Mobile No.:

6. Permanent Address …………………………………………………………………………………………………………………


Phone No (with STD code)/Mobile No.:

Email :

7. Date & place of birth Date Month Year Place

8. Nationality status
Nationality State of Domicile

9. Category (Please tick √)


10. Are you employed? (Please tick √ )

Yes No
(If yes, Employer’s certificate with seal to be attached)

11. Gender (Please tick √ ) Male Female

12. Marital Status (Please tick √ ) Married Unmarried

13. Name with address of the

Institute last attended

14. Educational Qualifications starting from tenth standard or equivalent onwards

15. Examination Passed Board / University/ Year of Class/ Subject taken % of Rank obtained (if any)
Institute passing Division (including Honours / aggregate
/appear Major, if any) marks/

Post Graduation
Other (s), if any

16. Teaching / Research experience:

(Mention level of teaching – UG/PG/College/Institute/Courses taught/Area of research)

17. Seminar / workshop / conference attended after post graduation:

(Use separate sheet if necessary)

18. List of publications (if any):

(Enclose separate sheet if necessary)

19. Declaration to be signed by the candidate

I declare that I shall abide by the Rules and FPM Guidelines of the University that will be in force from time to time. I will
submit myself to the disciplinary jurisdiction of the Director and the authorities of the Institute who may be vested with such
power under the Rules and FPM Guidelines that have been framed thereunder by the Institute.

I also declare that the information given above is true and complete to the best of my knowledge and belief, and if
any of it is found to be incorrect, my admission shall be liable to be cancelled and I shall be liable to such disciplinary action as
may be decided by the Institute.

Place: ……………………
Date: …………………… Full signature of the

For Office Use Only

1. Verified by: Name ______________________________________ Designation ________________________
Signature ___________________________________________ Date: __________________________________
2. Recommended / Not Recommended:
Signature ______________________________________
Name ______________________________________
Chairman, Selection Committee
Date: _________________


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