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Prospectus 2016-17

PGPSM is a 1-year
Post Graduate Programme with
specialization in securities markets

Most B School students choose a specialization in


their second year

At NISM you would be a specialist in


securities markets by then

NISM Upcoming Campus

NATIONAL INSTITUTE OF
SECURITIES MARKETS
NISM is a public trust established by the Securities and
Exchange Board of India (SEBI), the regulator of
securities markets in India. It is an autonomous body
governed by a Board of Governors.
NISM envisions a catalytic role in promoting securities
markets research and education, through:
Close interface with policy makers, regulators and
industry participants
Continuous knowledge creation, acquisition and
dissemination
Collaboration with the larger educational and market
infrastructure to reach constitu-encies relevant to the
securities markets

Mission
To engage in capacity building among stakeholders in the
securities markets through financial literacy, professional
education, certification, enhancing governance standards
and fostering policy research.

Institutes Philosophy
To engage in capacity building among stakeholders in the
securities markets through financial literacy, professional
education, certification, enhancing governance standards
and fostering policy research.
The activities at NISM are carried out through its Six
Schools,
These include:
School for Investor Education and Financial Literacy
(SIEFL)
School for Certification of Intermediaries (SCI)
School for Securities Information and Research (SSIR)
School for Regulatory Studies and Supervision (SRSS)
School for Corporate Governance (SCG)
School for Securities Education (SSE)

National Initiative by NISM


National Centre for Financial Education (NCFE)

BACKGROUND OF NISM
In his budget speech of February 2005, the Honourable Union Finance Minister announced that the Securities and
Exchange Board of India (SEBI) would establish an institute to undertake securities markets education and research.
In pursuance of this mandate, SEBI established the National Institute of Securities Markets (NISM) in Mumbai as a
public trust under the Bombay Public Trusts Act, 1950. The mission for NISM is to add to market quality through
educational and research initiatives that would support, enable and expedite an entire gamut of high quality
knowledge services in the securities industry. A market for securities education and research is gradually emerging in
India and abroad - partly due to the buoyancy in the securities industry and partly because of the regulatory efforts to
create minimum competency levels for securities industry professionals. NISM intends to play a catalytic role in
addressing these needs. Given the uniqueness of India and other developing markets, such intervention would follow
the twin approaches of accessing and disseminating the relevant existing knowledge and creating new knowledge
that is more specific and appropriate for developing markets. With no other institute in the Asian region that seeks to
address as wide a canvas, NISM stands uniquely poised to become an institution that would not only serve the
securities markets in India but could also assume a pan Afro-Asian purpose.

Board of Governors
As on January 01, 2016
Mr. U. K. Sinha
Chairman, Securities and Exchange Board of India
(Chairman, Board of Governors)

Dr. Bimal Jalan


Former Governor, Reserve Bank of India
(Chairman, Academic Council)

Mr. Rajeev Kumar Agarwal


Whole Time Member,
Securities and Exchange Board of India (SEBI)

Mr. Cyril Shroff


Managing Partner,
Cyril Amarchand Mangaldas

Mr. Prashant Saran


Whole Time Member,
Securities and Exchange Board of India (SEBI)

Prof. Samir Barua


Former Director,
Indian Institute of Management (IIM), Ahmedabad

Mr. Manoj Joshi


Joint Secretary, Ministry of Finance (GOI)

Dr. Shekhar Shah


Director-General,
National Council of Applied Economic
Research (NCAER)

Mr. Uday Kotak


Vice Chairman & Managing Director, Kotak Mahindra
Bank Ltd.
Ms. Chanda Kochhar
Managing Director & Chief Executive Officer,
ICICI Bank
Mr. Y. M. Deosthalee
Chairman and Managing Director,
L&T Finance Holdings Ltd.
Prof. Ashish Nanda
Director, Indian Institute of Management (IIM),
Ahmedabad
Mr. Sanjay Nayar
Chief Executive Officer, KKR India Advisors Pvt. Ltd.
Mr. Sandip Ghose
Director, NISM

Prof. Viral V Acharya


C.V. Starr Professor of Economics,
New York University-Stern School of Business
Prof. Devang V Khakhar
Director, Indian Institute of Technology, Mumbai
Mr. N. R. Prabhala
Chief Mentor and Head of Research,
Centre for Advanced Financial Research and
Learning (CAFRAL)
Mr. Sandip Ghose
Director, NISM, Member Secretary
Mr. G. P. Garg
Registrar, NISM

SCHOOL FOR SECURITIES EDUCATION (SSE)


NISM articulates and implements its mission of improving
market quality through its six schools, each having a
specific domain presence within the securities markets.
The role of the School for Securities Education (SSE) is to
provide education for preparing competent professionals
who will serve the securities markets.

As the Indian economy grows and as Indian investors seek


greater participation in the capital markets, the Indian
stock exchanges, mutual funds, investment bankers,
analysts and stock brokers would play an even more vital
role in meeting the enhanced expectations of various
stakeholders.

The last few years have seen a demand for securities


professionals who are equipped with a wider repertoire of
knowledge and skills. This demand has been spurred by
the challenges posed by the growing Indian economy and
the expanding securities markets. With the Indian
economy growing consistently at over 7%, many Indian
companies are scaling up their activities in India and
abroad. This has necessitated a greater need for
corporations to access the securities markets. The overall
economic growth has also witnessed many Indian
corporations attracting domestic and foreign investments
through listings in India and overseas.

With its proximity to policy makers and professionals in


the securities market community, SSE is uniquely
positioned to provide educational programmes that will
create new age securities markets professionals.

NISM was presented with the B-School Leadership


Award for Excellence in education, leadership and
training, at the World Education Congress held
at Mumbai on June 29, 2012.

CONTENTS
Post Graduate Programme in Securities Markets (PGPSM)
About PGPSM
Value Addition from PGPSM
Suitable Candidates
Programme Architecture

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01
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01
01

Programme Design and Content

02

Learning Environment
Student Performance and Evaluation Criteria
Infrastructure
Accommodation and Residential Facilities
Systems Support
Library
Notebook Computer
Awards
Industry Interaction

03
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04
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05
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05

Placement Facilitation

06

Academic Team
Full-time
Visiting Faculty
Support Team

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07
10
11

Testimonials
Alumni

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12

Admission Procedure
Eligibility Criteria
NISM Online Test
Cities and Towns where the test is likely to be conducted
Personal Interview
Selection Procedure
Announcement of Selected Candidates
Sponsored Candidates
Documentation
Fees and Deposits
Educational Loan
Online Registration-Prospectus and Online Application
Last date for Online Registration
Hall Ticket for NISM Online Test

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Important Dates

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POST GRADUATE PROGRAMME IN SECURITIES MARKETS (PGPSM)


For students aspiring for career in the securities markets,
PGPSM is an extremely unique opportunity to obtain firsthand knowledge, both theoretical and practical, from an
institute established by SEBI, the market regulator. The
faculty, consisting of academicians and practitioners, has
the capability to deliver a high-quality programme to the
students looking for knowledge and skill-sets as a solid
foundation.
Informal estimates indicate that the securities markets
would require about 32,000 professionals every year. The
required skill-sets could be grouped as follows: (1) Fund
Management, Analysis and Dealings (2) Sales, Product
Management and Brand Management (3) Operations and
Services (4) Information Technology (5) Compliance and
(6) Financial Advice and Planning.
PGPSM thus seeks to prepare students to become Fund
Managers, Analysts, Dealers, Institutional Sales Persons,
Product Designers, Operations Managers, Compliance
Officers, Risk Management Officers, Investment Bankers,
and Investment Advisors in the securities markets.

About the Post Graduate Programe in


Securities Markets (PGPSM)
PGPSM is a one-year full time Post-Graduate Programme
aimed at creating next generation securities markets
professionals.

01

Value Addition from PGPSM


By completing the PGPSM, students would be able to:
Understand the concept of securities markets, 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

Suitable Candidates
Suitable Candidates are:
Graduates and post-graduates aspiring for careers in
securities markets
Executives seeking careers or career switches related to
securities markets

Programme Architecture
Divided into four terms, the programme is a balanced blend
of theory and practice. These four terms lay emphasis on
the following:
Conceptual Phase
Application Phase
Advanced Application Phase
Industry Interaction Phase

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.
Term I
Conceptual Phase

Term II
Application Phase

Term III
Advanced Application Phase

Term IV
Industry Interaction Phase

Economics

Fixed Income Securities

Global Financial Markets

Internship

Mathematics for
Securities Markets

Securities Analysis &


Valuation

Regulation - Theory &


Practice

Project Dissertation

Statistics for
Securities Markets

Econometrics & Time


Series Analysis

Mergers, Acquisitions &


Corporate Restructuring

Seminars

Financial Accounting &


Reporting

Portfolio Management

Financial Modelling &


Computing

Financial Institutions &


Markets

Derivatives & Risk


Management

Corporate Governance

Corporate Laws

Mutual Funds

Behavioural Finance

Organization &
Management

Taxation in Securities
Markets

(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.)
In addition to the above, students gain exposure through
several workshops on contemporary topics such as
IFRS, XBRL, Simulated Trading, Market Microstructure,
Behavioural Finance etc. Industry exposure is also
provided through Seminars, Conferences and Workshops
on Contemporary issues.
During Terms I to III, students are expected to study a total
of 21 courses of 1 credit each. Each credit would mean
approximately 30 hours of classroom inputs.
In Term IV, students are required to undertake an internship
project with an organization where they are placed as
executives/interns in the securities industry. The Project
Dissertation which carries 2 credits, is to be submitted
before May 31, the concluding day of Term IV. Students are
free to join their respective organizations on or after
April 01 each year.

02

LEARNING ENVIRONMENT
NISM draws upon the cream of academia and industry for
providing cutting-edge inputs in the Securities markets
domain.

Student Performance and Evaluation


Criteria

A wide range of pedagogical approaches is deployed. The


learning environment is further stimulated by use of
technology such as Databases (Bloomberg, Prowess),
Application Software (Matlab, SAS, R) and Simulated
Trading with streaming data. Students are provided with
internationally benchmarked textbooks. Additionally, the
library is exclusively dedicated towards finance, securities
markets and related areas with an up-to-date collection of
books and scientific journals. Book reviews, films related
to Wall Street and experiential learning through
interactions with industry experts complement the
learning process.

PGPSM is a rigorous programme pegged at the level of


post graduation, leading to the award of PGPSM. The
programme is specially designed to raise the professional
standards of students. The PGPSM will be awarded on the
basis of the student's performance in the following
components:
Pre-class reading and preparation
Class participation
Quizzes
Term papers/projects/assignments
Mid-term and end-term examinations
Any other component of evaluation that the Institute may
prescribe from time to time
A student is expected to obtain the minimum passing
grade of 50% in each of the courses listed above.

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.
The hostel, NISM Niwas, also a 6-storey building, is
located about 2 Km from the Institute.

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NISM Campus
Our new state-of-the-art infrastructure is coming up at our Patalganga Campus,
45 KM from the existing campus of Vashi, Navi Mumbai. The Patalganga Campus
is fully residential with all modern educational amenities.

Accommodation and Residential Facilities


NISM Niwas, located in Sector 14, Vashi is designed to serve the needs of
students who require hostel facilities. There is 24-hour Internet connectivity.
Indoor games facilities are also available at NISM Niwas. The hostel facility will
be provided to a limited number of students on twin-sharing basis, and on the
basis of availability. Rooms will be non-A/C. Preference for hostel
accommodation will be given to outstation students, in particular to outstation
lady students.

Systems Support
The Institute has access to a well-equipped LAN & WiFi based network system.
Classrooms, Auditorium and Conference Room are adequately networked and
have access to server-based packages. Students will have access to advanced
as well as regular applications, software packages on mathematical, technical
and capital markets, and industry and company databases. These include
Bloomberg, Prowess, Alpha, and numerical technical packages such as
SAS, SPSS, Matlab, WinRATS, E-Views, etc.

Library
Students of PGPSM will have access to a library which holds a
collection that is highly specialized in the area of securities markets.
Thus library is unique owing to the fact that each book is handpicked by faculty members and experts. The library presently holds
more than 7,600 books and researchers all over the country have
benefited from it. NISM constantly endeavours to enhance its
collection of books, journals and even films pertaining to the
security markets. Through Science-Direct, the library
provides access to all the leading academic journals in
Finance, Economics, Business and Management. In
addition to the above, the library subscribes to
periodicals relevant to the securities markets.
PGPSM students would be provided library
cards, enabling them to take 2 books at a
time, for a duration of one week. As
regards prescribed text books, each
student would be provided a personal
copy as part of the study kit.

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Notebook Computer
Students are expected to purchase their own Notebook/
Laptop and carry it while attending classes.

Awards
Best performing student in PGPSM will be awarded a Gold
Medal sponsored by
State Bank of India and a cash
award of ` 1 lakh.

Industry Interaction
NISM invites number of practitioners from industry for
interaction with the students of PGPSM to provide their
insights and share their experiences. This platform
provides an opportunity for students to have a practical
exposure for securities industry operations and nuances.
Under the Leadership Series, senior executives from top
organizations and SEBI share their experiences.

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PLACEMENT FACILITATION
NISM provides assistance for placement by inviting prospective recruiters for careers in Finance and Securities Markets.
NISM received good support and encouragement from industry.
Our alumni have given a sterling performance in the following organizations:

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ACADEMIC TEAM

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Prof. Sunder Ram Korivi


Dean - School for Securities Education

Dr. Latha S Chari


Professor- NISM

Prof. Sunder Ram Korivi is an MA (Economics & Political


Science) and PhD (Business Policy & Administration) from
the University of Mumbai. He is a Fellow of the Institute of
Chartered Accountants of India. Additionally he is also an
Associate member of the Institute of Cost Accountants of
India and the Insurance Institute of India. He was a full-time
faculty member at SP Jain Institute of Management, and
later, a Professor and Dean at NMIMS University. He has
conducted policy-oriented research for the Central and
State Governments. An adjunct faculty at IIM Kozhikode,
he has also lectured at IIT Bombay, NIBM, NIA, NITIE, BSE
and other institutes.He has guided 2 PhDs, and also
refereed PhD studies of several universities all over India.
He has several international conference paper and
publications to his credits .He is on the boards of studies of
several Universities and national institutes.. He has prior
work experience with Business India as a Corporate
Researcher and Tata Industrial Finance Corporation as a
Merchant Banker.

Dr. Latha S Chari is a doctorate in Finance from BITS Pilani,


Post Graduate in commerce and a FCMA (Fellow member
of the Institute for Cost Accountants of India). She has a
total experience of about two decades which is equally
divided between academia and Industry. She started her
academic career as a Fellow with IILM, Lodhi Road, New
Delhi. Before joining NISM, she has worked with Institute
for Technology and Management and ITM Institute of
Financial Markets for more than a decade. She joined ITM
as lecturer and grew up the hierarchy to become the
Deputy Director, heading ITM Institute of Financial
Markets. During her academic tenure she has published
papers in various national and international journals and
has conducted MDPs in the areas of financial asset
valuation, strategic cost management, trading and
operations in equity markets, performance evaluation of
mutual funds and the like. Her areas of research interests
include strategic cost management, corporate valuations,
shareholder value enhancement and similar studies. She
has special interests in establishing finance
labs, design, development and delivery
of lab based courses in the areas of
banking and financial markets.

Mr. Akhlaque Ahmed


Lecturer
Mr. Akhlaque Ahmed is an MSc (Applied Mathematics)
from Aligarh Muslim University and an MPhil
(Cryptography) from the University of Mumbai. He has
been a research fellow for the Ministry of Science and
Technology, Govt. of India, New Delhi. He has a Post
Graduate Diploma in Financial Engineering. Currently, he is
pursuing his Doctoral degree in Financial Derivatives from
Department of Economics (Autonomous), University of
Mumbai.He has presented research papers on
quantitatives finance at several international conferences,
some of them being award winning .His papers are regular
published in international referred journals. Prior to Joining
NISM, he was associated with the undergraduate
programme of the London School of Economics & Political
Sciences conducted at Mumbai. He has published three
journal papers in the area of financial economics. His areas
of interest include Financial Mathematics, Financial
Cryptography, Quantitative Finance and Derivative Pricing.
He is a visiting faculty at various B-Schools of University of
Mumbai and Symbosis International University, Pune. He
has industrial experience as a consultant with PRAXIS
Technologies, Mumbai. He teaches Mathematical
Finance, Financial Engineering and related subjects. He
extensively uses R-Language, Matlab, Stata and statistical
and mathematical software.
Mr. Nitin Tike
Senior Vice President
Mr.NitinTike, a Science graduate from Marathwada
University and Post Graduate in Management from Pune
University. He began his career with Bank of Maharashtra
in 1984 and subsequently worked with Non-Banking
Finance Companies, Brokerage Houses and Training
organisations and in academics over a career span of 23
years. During these 23 years he served organizations like
Weizmann Ltd., Mafatlal Finance Company Ltd., Mafatlal
Securities Ltd., India Infoline Ltd. and Bharati Vidyapeeth.
He has worked in the areas of merchant banking, corporate

and retail credit, retail broking, training and teaching. In his


last assignment, he served as Professor in Finance for four
years at Bharati Vidyapeeths Institute of Management
Studies and Research, at CBD Belapur.
Rachana Baid,
Adjunct Associate Professor
Dr. Rachana Baid is an M.Com (Gold medalist) and PhD.
She specializes in Financial Systems and Regulatory
Policy. She has undertaken consulting assignments with
multilateral agencies such as the World Bank and has been
a visiting faculty at IIM Indore and SP Jain Institute of
Management. She has also served as an Assistant
Professor at the UTI Institute of Capital Markets, Mumbai
for about a decade.
Mr. Nitesh Bhati
Faculty Member
Mr. Nitesh Bhati completed his Bachelor of Commerce
(Hons.) from Jai Narayan Vyas University, Jodhpur in year
2004. He qualified as a Chartered Accountant and joined
Securities and Exchange Board of India (SEBI) in year
2006. Mr. Bhati has qualified as a Company Secretary in
year 2013. He also completed post qualification course on
Information Systems Audit (ISA) from Institute of
Chartered Accountant of India (ICAI).
Mr. Bhati is fellow member of ICAI. He is Assistant General
Manager with SEBI and presently on deputation with
NISM as a member of faculty.
During his tenure in SEBI, Mr. Bhati has worked in
Corporation Finance Department, Market Regulations
Department and Investigation Department of SEBI. He has
held several assignments in SEBI including public issues,
takeover - open offers, buy back offers, listing
compliances, corporate governance, delisting,
administration of Stock Exchanges, investigations related
to manipulation in market price and financial statements.
Mr. Bhati was also part of XBRL project team of SEBI.
Mr. Jitendra Kumar
Faculty Member
Mr. Jitendra Kumar is a BA (Honours) in Economics from
Ramjas College, Delhi University and MA (Economics)
from Jawaharlal Nehru University (JNU), New Delhi. He

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has done LL.B from Mumbai University and Post Graduate


Diploma in Securities Law from Govt. Law College (GLC),
Mumbai. Besides, he has also done UGC (NET) in
Economics and CAIIB from Indian Institute of Banking and
Finance (IIBF).
Before Joining NISM on deputation, he has worked with
Securities and Exchange Board of India (SEBI) for more
than a decade. His work profile at SEBI included
Investigations related to securities market manipulation,
registration/regulation/ inspection/ policy works related to
the Portfolio Manager, Alternative Investment Fund (AIF),
Investment Adviser ,Foreign Venture Capital Investor
(FVCI) and Corporate Bonds. He has also worked in RTI Cell
of the SEBI and represented SEBI in various matters before
Central Information Commission (CIC), New Delhi. He had
also worked with NABARD for more than 3 years. At
NABARD, he had worked in District Planning Department
(DPD) and Micro Finance and Innovation Department
(MCID).
Mr. Hruda Ranjan Sahoo
Faculty Member
Mr. Sahoo is an MA in Analytical and Applied Economics
from Utkal University, Bhubaneswar and holds a Master
Degree in Financial Management from Jamnalal Bajaj
institute of Management Studies (JBIMS), Mumbai.
Prior to joining NISM as Member of Faculty on deputation,
Mr. Sahoo was working as Assistant General Manager in
SEBI. During his tenure in SEBI, Mr. Sahoo worked in
Mutual Funds Dept. and Human Resource Development
Dept. In Mutual Funds Dept. he has worked in various
areas of mutual fund operation and was part of various
major policy decisions.
Mr. Sahil Malik
Faculty Member
Mr. Sahil Malik is a Member of Faculty in School of
Regulatory Studies and Supervision within NISM. He has
joined NISM on deputation from Securities and Exchange
Board of India. He holds Master in Commerce and
Business Administration. He also holds Bachelor degree in
law and pursuing his Company Secretary (Final). He has
been working with SEBI since February 2002 and has
worked in the following profile

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Framing of Policy and Supervision of all Market Intermediaries, Stock Exchanges and Depositories
Policy, Supervision and market development of Mutual
Funds.
Investigations and Enforcement related to Securities
market manipulations.
He has attended several national and international
workshops, trainings and seminars on varied topics. He is
a regular speaker of various professional bodies like ICSI,
ICAI, Management Colleges and Investors Associations.
He was also involved in providing consultation to certain
Asian Regulators on behalf of SEBI.
Ms. Rajani Agadi
Faculty Member
Ms. Rajani Agadi has completed her B.Com from
Karnataka University, Dharwad and has done her Masters
in Business Administration with finance specialization
from Kousali Institute of Management Studies, Karnataka
University, Dharwad. She has worked for brief stint as
officer in CanBank Factors Ltd, Bangalore. She joined SEBI
in 2004 as trainee and is currently Asst General Manager
with SEBI.
She has worked in Investigation department of SEBI for 6
years and in the Office of Investor Assistance and
Education of SEBI for 4 years. She worked on two major
investor friendly initiatives of SEBI viz, SCORES ( SEBI
Complaints Redress System) and SEBI Toll free Helpline.
She was part of the team which initiated the above two
projects right from the takeoff stage till its final
implementation.
She has also worked on several other policy initiatives by
SEBI for benefit of investors like simplification of norms for
transmission of shares, simplification of arbitration
mechanism, uniform SOP for suspension and revocation of
trading of shares, simplification of investor grievance
redress means at Stock Exchanges, initiatives for reducing
unauthorized trades, No frills demat account, preparation
of investor education material and brochures, etc. She has
also represented SEBI in various investor awareness
conferences and workshops.

Ms. Prachi Nadkar


Faculty Member
Ms. Prachi Nadkar completed her Bachelor of Commerce
from Mumbai University in year 2001. She qualified as a
Chartered Accountant and joined SEBI in year 2006.Ms.
Nadkar is fellow member of Institute of Chartered
Accountants of India. She is Assistant General Manager
with Securities and Exchange Board of India (SEBI) and
presently on deputation with NISM as a member of faculty.
During her tenure in SEBI, Ms. Nadkar has worked in
Corporate Finance Department- Division of Issues and
Listing and Treasury and Accounts Division. She has held
several assignments including Public issues, Rights
issues, Listing compliances, Corporate Governance,
Accounting and Auditing standards, IFRS, SCODA
Committee and Audit Committee etc. Ms. Nadkar was also
part of XBRL project team of SEBI.
Ms. Monali Maduskar
Head: Knowledge Management
Ms. Maduskar has a Masters degree in Library
Science(M.Lib). She has experience in industry as well as
academic organizations, prior to joining NISM, she had
worked with CRISIL. At NISM she has led several
initiatives for upgrading and modernizing the facilities,in
support of multiple pedagogy learning experiences.

Visiting Faculty
Dr. Surendra Sundararajan
Dr. Surendra Sundararajan, a Professor at M. S. University
of Baroda, is an MA (Economics), LLB, MBA (Wisconsin),
and a PhD. He is an expert in Securities Markets and Risk
Management & Derivatives. He is also a visiting faculty at
SP Jain Institute of Management and Great Lakes Institute
of Management.
Mr. B. Venkatesh
Mr. Venkatesh is a CFA (USA) and FRM (GARP), in addition
to being a Chartered Accountant and a Cost &
Management Accountant. He is an expert in Securities
Analysis, Portfolio Management and Behavioural Finance.
A former Editor (Financial Markets) at Business Line (a
Hindu Group) publication, he is the Founder Director of

Navera Consulting, a firm that specializes in portfolio


performance evaluation. Previously, he has been a visiting
faculty at IIM Bangalore and Great Lakes Institute of
Management.
Dr. M. Venkateshwarlu
Dr. Venkateshwarlu, MCom and PhD, is an Associate
Professor at National Institute of Industrial Engineering
(NITIE). He has also pioneered the development of the
CRISIL Certified Analyst Programme. His areas of interest
are Financial Economics, Valuation and Risk Management.
He has several research articles at refereed international
and national journals, besides conference papers.
Mr. B. Renganathan
Mr. Renganathan is a Cost Accountant and Fellow of the
Institute of Company Secretaries of India. He is a Senior
Vice President - Compliance and Legal, at Edelweiss. His
areas of specialisation are Corporate Laws, Securities
Markets Regulation and Mergers & Acquisitions.
Mr. Ramesh B. Thimmaraya
Ramesh Babu Thimmaraya is an ME from IIT Madras, MBA
from NITIE, Bombay and has attained the FRM
Certification from GARP. He has worked at CENDAC Labs,
USA and at GE, Bangalore. He has written 18 research
papers in many peer reviewed international journals in the
areas of Applied Mathematics, Quantitative Finance and
Economics. Two of his re-search papers on mathematical
statistics are in reputed international journals, one of the
papers is among the top-25 cited articles in the world in the
area of Time Series Analysis and Dynamics.
Mr. C. D. Shreedharan
Mr C. D. Shreedharan has 36 years of experience in the
Reserve Bank of India, across Foreign Exchange, Exchange
Control, Currency Markets, Money Markets and Debt
Markets. He was also a faculty member in the Reserve
Bank Training College.
He has been teaching at the Masters' level at prestigious
institutions such as IIM Kozhikode, Institute of Chartered
Accountants of India, BSE Training Institute, Jamnalal
Bajaj Institute of Management Studies, Narsee Monjee
Institute of Management Studies, S.P.Bankers' Training
College etc. His teaching expertise is in the areas of
Macro-economics, Monetary Economics, International
Finance and Foreign Exchange Derivatives. He has also
made notable contributions to the above-mentioned
academic institutions and was instrumental in the

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collaborative efforts between Case Western University


and NMIMS.

Support Team

Mr. Jeet R. Shah


Mr. Jeet R.Shah is a M.Com from Mumbai University and a
Certified Financial Planner (CFP CM ). He is pursuing his
P.hd from the University of Mumbai. He is pursuing his P.hd
from the university of Mumbai. He has over 10 years
industry experience in the field of corporate and personal
finance, taxation ,capital syndication etc. Currently he is a
Partner of Veer Consultancy Services which focuses on
SME consulting and Personal Financial Planning .He likes
to teach and has a teaching experience of about 7 years
.He is a visiting faculty with NMIMS, S. P. Jain Institute of
Management and Research and Indo-German Training
Centre and has taken corporate training sessions for SBI ,
Mahindra Kotak Securities, NISM and LIC. Jeet had been a
consultant to FPSB - India and was a expert in the second
round table on Direct Tax Code organised by Ministry Of
Finance under the aegis of NISM.

Rajshekhar Torgal
Deputy Manager , Programme Office
Mr. Torgal is a BBA from Karnataka University with a First
class. He is a Post-Graduate in Industrial Relations and
Personnel Management. He has a total of 13 years of
experience, of which 3 years were in Industry (Sugar
Industry) and 3 years as a District Manager in the egovernance project of Government of Karnataka. Prior to
joining NISM, he worked with ICFAI University and
Pearson education. His experience in the education sector
totals 7 years.
Sachin Dhuri
Programme Assistant
Mr. Dhuri is a B.A. from the University of Mumbai. Prior to
NISM, he has worked in a telecommunication company.
He looks after the day-to-day running of academic calendar
for PGPSM.
Ms. Evita Pais
Secretary to Dean
Ms. Evita Pais is a M.Com with a specialization in
Accounting and Finance. She has worked in a Japaneas
company. She assist the Dean-SSE in planning the
academic and co-ordination with the faculty.

09
11

TESTIMONIALS
Alumni
Within a short span of time, NISM has a list of illustrious
Alumni from its very first batch (20010-11). Their
experience at NISM is briefly reproduced in the following
paragraphs.
Abhishek Priyadarshi, JMN Investment Research
This is to inform you all that I passed my CFA level-1 exam,
June 2011. Other big news is Pitch Book (It's a 515 pages
financial database for 47 US listed restaurant companies
having market capitalisation more than $50 million) which
I prepared for one of my client US investment bank (Piper
Jaffery), got published in US last month. Currently, I am
working on Spin off valuation of US companies across all
sectors and also prepare reports on them. So far
everything is fine and challenging.
Balasubramanian Srinivasan, TAMP
I am glad to inform you sir, that I have been selected as
Member (Finance) in Tariff Authority for Major Ports,
Mumbai, a Port Regulatory Authority under Ministry of
Shipping in the Rank and Pay of Additional Secretary to
Govt of India. The PGPSM course subjects were very
helpful to me while attending the interview. I wish to
convey my heartiest thanks to all the Faculty members and
management of NISM.
Bipul Sinha, JMN Investment Research
I am very pleased to inform you that I have passed level 2 of
CFA exam. Its been a very fruitful and an exciting year (i.e.
10 months to be exact) for me at NISM. I really enjoyed the
experience and had a great time. I joined NISM with an
intention to make a lateral shift from IT to finance. I got
introduced to the concepts of finance in the classroom and
had enough time in the hostel to study for CFA which
helped me clearing level 1 in December and level 2 in June.
Here, at JMN Investments, I am working on Aircraft ABS
models. The work is good and challenging. I am travelling
to US next weekend related to my work. It would be a good
learning experience to work in a US investment bank. I am
thankful to all in realizing my goals.

Vinayaka Muppanna, IRIS Business Solutions


I am happy to inform you that I have passed my CFA level 2
Exam. Thanks for all the valuable inputs I got from NISM for
achieving this.
Nagesh Nayak, Capgemini
NISM, though a skeptical choice at that time, was an
experiment. I am proud to say today has dispelled my initial
reservations of not being robust and course content
specific. In retrospection, it has helped me as an individual
to push myself harder into understanding, analyzing and
aspiring for greater levels in the capital market world. I
have extremely fond memories of time that I have spent in
NISM. Kudos and a heartfelt thanks to the Professors,
Mentors and NISM the institution.
Swapnil Maheshwar, IRIS Business Solutions Pvt. Ltd.
NISM has helped us in building a career in capital markets.
NISM is having a very good pool of faculties and other
facilities. We have learnt a lot of things in one year of our
stay in NISM. We have been taught all subjects related to
capital markets in a very efficient way and can say our
knowledge of the financial sector is as good as of any high
class B-School. This one year course is really worth the
money. Many of us got placement also before April, which
saved our opportunity cost also. I hope it will continue to do
the same. NISM gives a huge opportunity in research
oriented jobs, consultancy, IT etc. Wish you very best of
luck for the next batches. I am really proud of calling myself
as Alumni of this prestigious institute.
Bhanupriya Gupta, L & T Finance
The knowledge that I gained at NISM and the guidance
provided were of great importance in my journey. I would
be glad if, through my future endeavors I could add value
to my alma mater.

12

ADMISSION PROCEDURE
Eligibility Criteria
Minimum qualification
A bachelor's degree or equivalent from a recognized
university in Indian with a
minimum of 50% marks in
aggregate.
Age
There is no age limit for the programme, but it is desirable
that the candidate is below 30 years of age as on the date
of online registration.
Entrance Test
Candidates have a choice of using the NISM Online
Entrance Test or other Test scores specified in the
paragraph below.
Candidates having valid Test scores in the top 30 percentile
of GMAT/XAT /any other equivalent international/ national
or state level test - NISM test are eligible to apply. Other
candidates may appear in the NISM Online Entrance Test.

NISM Online Entrance Test


The duration of the test would be 120 minutes and the
maximum marks are 100. The online test would attempt to
assess the following attributes of a candidate:
1. Quantitative Aptitude - 40%
2. Analytical and Reasoning Skills - 25%
3. Language Proficiency - 25%
4. General Knowledge of Financial Markets - 10%
Each question would be a multiple choice question with
four choices. Each correct answer would carry one mark.
There would be negative marking of 0.25 for every wrong
answer.
An applicant is required to register for the online test at a
test centre in select cities and towns as would be indicated
on the NISM website. The test will be conducted on
Sunday, May 15, 2016. For guidance on choice and
availability of online test centre, kindly refer to the
following section on test centres.

13

All candidates are required to carry ANY ONE of the


following as proof of identification:
PAN card
Driving License
Passport
Voter ID card
College Student Identity Card, current and valid OR
Employer Identity Card, current and valid
The student should provide the proof of identification to
the test administrator on demand. NISM reserves the
right to seek additional identification details, if
necessary.

Cities and Towns where the test is


likely to be conducted
The online tests would be carried out in the following
cities/towns: Ahmedabad, Bengaluru, Bhubaneswar,
Chennai, Goa, Secunderabad, Indore, Jaipur, Kolkata,
Kochi, Lucknow, Mumbai, New Delhi, Patna, Ranchi,
Faridabad, Chandigarh, Surat, Gurgaon, and Pune.
If the registrations at any centre exceed the capacity or
falls well below the capacity of the test centre, NISM
reserves the right to shift the candidates to another test
centre and the same would be intimated to the respective
candidates by NISM. Candidates are required to report at
the test centre so intimated at the appropriate date and
time for taking the online test.
For further details, visit the website:
www.nism.ac.in/pgpsm

Personal Interview
Candidates will be shortlisted on the basis of marks
obtained in (1) Profile and (2) Performance in the Online
Test for a personal interview. The shortlisted candidates
will be intimated through email and/or letters. Personal
interviews are likely to be held at Bengaluru, Chennai,
Hyderabad, Kolkata, Mumbai and New Delhi during May
2016. NISM will intimate the exact date, time and venue of
the personal interview to the shortlisted candidates.

Selection Procedure
The final selection of the candidate will be based on thefollowing criteria
and weights, totalling to 100 points:
NO.

CRITERIA

WEIGHT

a) Academic Qualification / Performance -20%


b) Work Experience - 20%

40%

02

Essay

20%

03

Personal Interview

40%

01

Profile

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.
The Institute reserves the right to postpone or cancel the
dates of the online test and/or personal interview. Also, the
Institute reserves the right to modify/ change or cancel any
test centre and/or personal interview centre.
Candidates are also advised to visit the Institute's website
for any updates and other information.
The maximum class strength will be 50 students. NISM
reserves the right to increase or decrease the number,
depending on the quality of the applications received for
consideration. Hostel accommodation may be offered
depending upon availability. Preference will be given to
outstation and lady candidates as may be decided by the
Institute.

Announcement of Selected Candidates

Sponsored Candidates
Sponsored candidates are those whose application forms
are forwarded to NISM through their respective
employers, being eligible organizations, as described in the
next paragraph. The employer should furnish an
undertaking to grant study leave to the said candidates and
also undertake to bear all the fees. Eligible organizations
would include
1.Government Departments/ Public Sector Undertakings
2.Public companies or Trusts registered with SEBI
3.Banks/NBFCs recognized by RBI
4.Insurance Companies/Intermediaries recognized by
IRDA.
A maximum of five seats are reserved for sponsored
candidates. However, the sponsored candidates have to
participate in the admission processes as applicable to
other candidates. If the number of sponsored candidates is
inadequate then the seats reserved for the sponsored
candidates may be offered to other candidates. Sponsored
candidates are not allowed to participate in campus
placement process.

The list of selected candidates will be displayed on the


Institutes website on Monday, May 23, 2016. Selected
candidates would be required to pay the first installment of
fees (see table of fees) on or before Saturday, June 25,
2016. Provisional admission offered to selected
candidates who do not pay the fees on or before the
stipulated date would automatically stand cancelled.

14

Documentation

Fees and Deposits

Candidates shortlisted for the interview would have to


show originals and submit self-attested photocopies of the
following documents at the time of interview:

The details of the fees, refundable deposits and


nonrefundable charges payable to the Institute.
Fees

1. Graduation/Post Graduation certificate issued by the


university/institute
2. Statement of marks of graduation/post graduation
examination issued by the university/institute
3. Date of Birth certificate (i.e., S.S.C., School Leaving
Certificate or Birth Certificate issued by the Municipal/
Local authority)
4. Experience certificate from the employer, if applicable

The total fee is ` 3,50,000/- (Rupees Three Lakh Fifty


Thousand only) for the entire year. The fee is nonrefundable. Students who fail to pay the fee on time could
face a penalty or could be barred from the PGPSM
Programme.
Fees are payable in two installments and Service Tax as
applicable shall be communicated to the selected
students.
Provisional Admission is granted to all students on the
understanding that the final year results of their
Graduation/ Post Graduation, Degree/ Diploma shall be
submitted within reasonable time. A failure or nonsubmission may result in the cancellation of provisional
admission.

15

The break-up of the fee is as under:


NO.

PARTICULARS

FEE AMOUNT `

3,30,000

01

Tuition Fee

02

Examination Fee

10,000

03

Library Fee

10,000

04

Alumni Association Fund (Annual)

2,000

Refundable Deposits
In addition, the admitted students are required to pay refundable deposits,
subject to terms and conditions as detailed below:
NO.

PARTICULARS

AMOUNT `

01

Library Deposit

10,000

02

Hostel Room Deposit*

10,000

Boarding and food charges will be separately intimidate to short listed students.
Deposits are refundable subject to adjustment of any dues from the students.
*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.

16

Educational Loan

Hall Ticket for NISM Online Test

The Institute facilitates students in securing educational


loans. At present, the Institute has arrangements to direct
applicants to Credila and HDFC Bank. Arrangements with
more institutions are underway. It is to be understood that
NISM does not recommend or guarantee the loans. In the
event of any delay in securing loans, students have to
arrange for their own funds to pay all the fees, deposits and
charges as per the payment schedule provided at the time
of joining the programme. However, on a later date, if the
loan is secured, the amounts paid by the student will be
refunded without any interest on receipt of the amounts
from the entity that has offered the loan to the student.

Upon completion of formalities of online registration and


payment, the hall ticket would be generated and displayed
on the screen. The candidate is required to take a print of
the hall ticket and affix a self-attested passport sized
photograph on the hall ticket. The printed copy of the hall
ticket with photo affixed should be produced when the
candidate arrives at the test centre to take the online
admission test.

Online Registration - Prospectus and


Online Application
The Prospectus can be downloaded from the website
www.nism.ac.in. A candidate can register online by
making a payment of ` 1,000, electronically (nonrefundable).
Please visit the website:
www.nism.ac.in, for complete details.

Last date for Online Registration


The last date for online registration is Wednesday, May
11, 2016. Please DO NOT forward copies of any certificate
along with application form.

17

Enquiries
All enquiries may be mailed to pgpsm@nism.ac.in.
It is hereby clarified that no candidate seeking admission
to PGPSM shall make any attempt to influence the
selection process. Candidates attempting to influence the
selection process would be debarred
Force Majeure
The Institute reserves the right to postpone or cancel the
dates of online test and/or personal interview. Also, the
Institute reserves the right to modify/change or cancel any
test centre and/or personal interview centre.
Candidates are also advised to visit the Institute's website
for any updates and other information regularly.
Please Remember
The last date for online registration is Wednesday, May
11, 2016.
Recent Photographs have to be uploaded for Online
Registration
Date for NISM Online Test is Sunday, May 15, 2016.
Please visit the website www.nism.ac.in for further
updates and information

Admissions 2016-17

IMPORTANT DATES
Commencement of online registration

Monday, March 21, 2016

Last date for online registration

Wednesday, May 11, 2016

Exam

Sunday, May 15, 2016

Exam Results

Monday, May 23, 2016

Personal Interviews at Mumbai

Sat, May 28 & Sun, May 29, 2016

Personal Interviews at Other Locations

Sat, June 04 & Sun, Jun 05, 2016

Interview Results

Saturday, June 11, 2016

Last date for Payment

Saturday, June 25, 2016

Programme commencement

Friday, June 01, 2016

*Interviews will be scheduled at different cities depending on


the requirement during this period.

PGPSM ADMISSION OFFICE


NATIONAL INSTITUTE OF SECURITIES MARKETS
Plot no. 82, Sector 17, Vashi, Navi Mumbai - 400703, India
Fax: +91 22-66735110
Direct: +91 22-66735125/58/61 | Mobile: +91 9930880194

Email: pgpsm@nism.ac.in | Website: www.nism.ac.in


18

NISM Upcoming Campus

NISM Bhavan

NISM New Campus

National Instituteof Securities Markets

NATIONAL INSTITUTE OF SECURITIES MARKETS

An Educational Initiative of SEBI

An Educational Initiative of SEBI

NISM Bhavan, Plot No. 82, Sector 17,


Vashi, Navi Mumbai - 400 703
Tel: 022 6673 5100-05 | Fax: 022 6673 5110
Direct: +91 22-66735125/58/61 |
Mobile: +91 9930880194

Plot No. IS-1, IS-2, Patalganga Industrial Area,


Off Mumbai-Pune Express Highway,
Wasambe (Mahapada) Village
Khalapur Talluka, Raigad District, Maharashtra - 410207

www.nism.ac.in