Financial Markets - National Institute of Financial Management

Post Graduate Diploma in Management

Financial Markets

Jointly offered by:

National Institute of Financial Management An Autonomous Institute of Ministry of Finance, Government of India

National Institute of Securities Markets An Autonomous Institute of Securities and Exchange Board of India

PGDM (FM) 2015-16

One Year, Full Time, AICTE approved Programme




About NIFM









The Financial Markets





From the Desk of Director, NIFM



About NISM





NIFM Faculty

NIFM Visiting Faculty



From the Desk of Director NISM




Placements & Internship

17 09 18 19 10 11



Eligibility Criteria Programme Fee

Student’s Performance Report


Application Process


Important Dates

Residential Facility


Application Form

The Curriculum

About NIFM

The National Institute of Financial Management (NIFM) is Centre of Excellence specializing in capacity building of professionals in the fields of Public Policy, Financial Management and other governance issues for promoting highest standards of professional competence and practice. NIFM was set up in 1993 as a registered society under Ministry of Finance, Government of India. To begin with it was mandated to train the officers recruited by the Union Public Service Commission (UPSC) through the Civil Services Examination and allocated to the various services responsible for managing senior and top management posts dealing with accounts and finance in the Government of India. In due course of time NIFM has become a premier resource centre to meet the training needs of Central Government for senior and middle level of management too. NIFM also caters to the State Governments, Defence establishments, Banks and other Financial Institutions. NIFM plays a pivotal role in governance and administrative reforms by providing a platform for interaction and exchange of ideas & experiences among officers from different organized services, different state governments and between personnel of civil and defence establishments.


Apart from capacity building, NIFM is also engaged in serious research studies in the areas of accounting, audit, financial management, parliamentary financial control and other issues related to public policy and delivery systems. The outcomes of such research studies are published and disseminated through Research Papers, Journals and Books. The Union Finance Minister of Government of India is the President of the NIFM Society and Secretary (Expenditure), Government of India is the Chairman of the Board of Governors (BoG). The Director, NIFM is responsible for the administration and academic programs of the Institute. NIFM has a distinct advantage of an amalgamation of faculty from academics as well as from Government. The Academic Advisory Committee of the NIFM assists NIFM in all matters related to creating, maintaining and expanding academic, training and research environment. This committee also has eminent members from acclaimed academic fraternity of India. The Management Committee of NIFM handles the day to day affairs of the institute.

From the Desk of Director, NIFM

Indian Financial Market has evolved rapidly in the last two decades. India has experienced a phenomenal growth after the economic reforms of 1990s.and in the same decade, Indian Financial market started gearing up for the new challenges and innovations in terms of the development of diverse sub-markets and new financial instruments. At present, Indian financial market is highly integrated with world financial markets making it dynamic and complex, thus creating new demands and growth opportunities. This programme, the Post Graduate Diploma in Management (Financial Markets), being offered by the NIFM in collaboration with the NISM is a unique programme designed for the professionals and practitioners desiring to excel on the strength of the knowledge and understanding of the market. In this programme, we provide continuous interaction

between theory and practice that equips participants with the required skills to compete and stay abreast in the market. Moreover, this programme is designed to facilitate progressive expertise-building across functional boundaries and we provide a platform to connect across diverse market segments. The lectures of the programme are delivered by experienced and research oriented faculty from the NIFM, the NISM and elsewhere. Delivery and conduct of the programme is monitored by the Academic Advisory Committee of the NIFM. I would like to extend my warm appreciation on behalf of the NIFM & NISM, to the prospective participants for showing interest in this programme and welcome participants joining this course. I am sure, they will experience an enriching learning journey.

Harsh Kumar


About NISM

National Institute of Securities Markets (NISM) is an outcome of the Union Budget speech of the then Finance Minister in February 2005. Securities and Exchange Board of India (SEBI) was entrusted the responsibility of establishing NISM. It is registered as a Society as well as a Trust under the Bombay Public Trust Act of 1950. NISM is guided by a Board of Governors and an Academic Council. Thus, NISM benefits holistically from the perspectives of regulators, practitioners and academicians. Within the specialized domain of financial markets, NISM has a vast repertoire of experience in certification, post-graduate education, research, training, seminars and conferences. Located in Navi Mumbai, it possesses a ringside view of the live action that takes place in the financial markets. NISM gains from a constant interaction with the best professionals and researchers from the financial capital of the country- Mumbai. NISM conducts around 17 certification examinations through carefully developed and well-structured curricula in close consultation with industry after a thorough job analysis. These certifications are highly valued in the securities industry and certify the basic competency of candidates. At the post-graduate level


again, the architecture and design and content are benchmarked with the best international post-graduate programmes. The learning experience is enriched with multiple-pedagogy in the form of case studies, live projects, book and film reviews, news analysis, simulated trading, databases, event-based learning, and exposure through seminars & conferences and field visits. NISM is highly experienced in the field of training. It has designed and imparted training programmes for various regulatory bodies such as SEBI, RBI, FMC and trainee officers of the civil services in the financial markets domain. NISM has also been engaged in the design and delivery of training programmes for participants from governmental and regulatory bodies from the SAARC and ASEAN regions, thus serving a larger pan-Asian purpose. NISM has a number of collaborative partnerships with national and international professional and academic institutions. This collaborative endeavor between NIFM and NISM truly builds upon the complementary strengths, viz. financial management and financial markets and promises to offer the potential participants with a vibrant and intellectually stimulating educational experience.

From the Desk of Director, NISM

Over the past 3 decades, the Indian securities markets have grown to encompass a wide range of products, such as equities, equity derivatives, government securities, corporate bonds, ETFs, currency futures, interest rate futures, alternative investment funds, real estate investment trusts (REITs), Indian Depository Receipts (IDR) etc, with many more to be introduced in the times to come.

All of the above call for a cadre of knowledgeable and skilled professionals to man various positions in the highly specialized domain of securities markets, to deliver quality pedagogy by a team of dedicated faculty-members. This collaborative endeavor between two national institutes- NIFM and NISM, marks a milestone in evolving history of the Indian securities market and the higher educational system.

As Indian companies go global and as global investors come in to India, a maturing of the markets has taken place. Domestic Financial Institutions, High Net Worth Individuals and Retail Investors also seek avenues of investment which are likely to be thrown up as the economy aims to enter higher trajectories of growth. Today, India is seen as one of the few investment destinations of promise, over the next few decades.

With the academic ambience, state of the art learning infrastructure, dedicated faculty team and linkages with industry, this post-graduate programme could be the stepping stone for aspiring professionals seeking to join the vibrant securities industry. My best wishes to all the aspiring candidates.

Sandip Ghose


The Financial Markets The Indian economy is one of the world's fastest growing economy today and is expected to become a US$ 5 trillion economy by 2020. Driven by rising personal incomes, corporate restructuring, de-regulation and liberalisation of financial markets, the Indian financial industry is expected to enjoy robust growth during the coming years. With a sustained growth and rapid development in technology and infrastructure, an increasing share of financial services would get centralized. The last decade has seen unprecedented growth in India’s financial services sector. It employs over 3 million people, constitutes about 5% of the GDP and has an estimated market capitalization of over US$ 200 billion. The one year full time Post Graduate Diploma in Management (Financial Markets) or PGDM (FM) has considered the changing needs and the future requirements of the financial industry to equip you

with the most contemporary skills and knowledge required to capitalize forthcoming opportunities in the financial market.

Career Opportunities in Financial Markets The PGDM (FM) provides participants with a wide range of career opportunities such as: ▪ Investment Banker ▪ Financial Planning & Wealth Manager ▪ Analyst - Equity, Technical, F&O, Mfs, Commodity, Forex ▪ Fund / Portfolio / Hedge Fund Manager ▪ Back / Front Office Operations Manager ▪ Surveillance / Compliance / Regulation Manager ▪ Teaching / Content Development ▪ Financial Journalist ▪ IT / IT Security / Programmer ▪ Risk Manager

Post Graduate Diploma in Management Financial Markets The PGDM (FM) is a one year programme designed jointly by NIFM and NISM with the objective of developing professionals capable of occupying positions of responsibility in stock exchanges, commodity exchanges, regulatory bodies, market intermediaries, banks, mutual funds, asset management companies and other similar entities. The uniqueness of the programme lies in its extensive use of market professionals as resource persons for the programme. Apart from sound grounding in


academic concepts pertaining to the capital markets, the participants will get a chance to interact with senior regulatory officials, executives of exchanges, leading merchant bankers and foreign institutional investors. The programme is comprehensive in nature, covering all major areas of financial markets viz., equity, debt, mutual funds, equity derivatives, currency derivatives, commodities etc. What has been sought to be achieved is an ideal blend of

relevant academic knowledge and its application to financial markets. Pedagogy for the programme comprises classroom teaching, case studies, panel discussions, presentations and visits to national and overseas financial centres.

The effective delivery of the programme requires proper appreciation of applied financial data analysis. The institute facilitates the participants towards application of Information Technology in various paradigms of IT interfaced learning by designing the curriculum accordingly.

Skill development has been given special emphasis by providing simulated live market conditions, trading and investment software from NISM (the same software used by the market professional) so that the students are market ready. 06

Salient Features Certification: PGDM (FM) is the India's most comprehensive financial markets programme certified jointly by National Institute of Securities Markets (Established by SEBI) and National Institute of Financial Management (Established by Ministry of Finance, Government of India). Industry Vetted Content: NISM and NIFM jointly deliver rich industry oriented curriculum designed to improve the essential skills of the financial market professionals. The content is continuously updated to incorporate the best practices of the industry. Experienced Peers: Peer learning is recognized as one of the better forms of learning. When young bright students, who are generally open to learning and are tech savvy stay and study together with middle and senior level officers from State, Central Government, PSUs etc. having variety of experience; it nurture the skills and talents of both the groups to stay competitive in the financial markets. Excellent Faculty: The combination of senior academicians at NIFM and practitioners from industry through NISM, will successfully deliver the theoretical and practical aspects of the dynamic curriculum of PGDM (FM). Our core, honorary and adjunct faculty stands out for its sound academic credentials and impressive industry experience. Experiential Learning: The mode of programme delivery is through interactive lectures, tutorials, case studies, workshops and presentation sessions supported by regular corporate visits, participation in business channels like CNBC, NDTV Profit etc. and extensive exposure at NISM Delhi and NISM Mumbai. Live Market Training & Market Simulation Lab: Skill development sessions are imparted to students which involve extensive training through market simulation web based software from NISM i.e. SMART


Lab, visit to brokers offices, stock exchanges and internship. Advanced Financial Softwares: What makes financial market programme unique is the hands-on- training given on advanced financial softwares like Capitaline/ Prowess/SPSS, NISMSMART Lab, Bloomberg, Metastock etc. used worldwide for technical analysis, fundamental analysis and valuation in research firms, AMCs, KPOs etc. Global Exposure: The twenty-first century is all about globalization and global competencies. In India through exchange platforms, one can trade American Indices like Standard & Poor’s 500 (S&P 500)® Dow Jones Industrial Average and can trade FTSE 100 index of UK from London stock exchange in Indian rupees. In order to give students an opportunity to be exposed to international scenario and financial a foreign visit is scheduled in this programme. Infrastructure: The state of the art picturesque campus of NIFM, Faridabad is located in Faridabad (Haryana) near the Badkhal Lake. It consists of smart and spacious classrooms, well stocked library, market simulation lab, executive hostels, outdoor theatre, auditorium and recreation facilities like billiards, squash, Table Tennis, badminton, gymnasium etc. Industry Exposure: The students of PGDM (FM) will have a continuous interaction with the industry through corporate visits, stock exchange visits, guest lectures, seminars etc. They will be attending intensive industry integrated training sessions by senior financial experts from Govt. policymakers and corporate. Placement Assistance: The dedicated team looking after placement will act as a close link between successful pass outs and these organizations needing professionals.Thus, whereas NIFM & NISM both provide placement assistance to successful students, they do not guarantee any placement.

Eligibility Criteria A) Private Participants/ Corporate Executives All participants must have completed Graduation or a degree equivalent with at least 50% in aggregate from an Indian University / Institutions recognized by Associations of Indian Universities. Preference would be given to the participants having Professional Qualifications such as CA, CS, CWA, CFA, MBA, etc. Note: Candidates in the final year of graduation may apply. Such candidates, if selected, will be allowed to join the programme provisionally only. Their admission will be confirmed only when they submit their mark sheet of having passed their bachelor's degree/equivalent qualification with at least 50 percent marks. The deadline for submission of the marksheet is September 2015. Non-fulfillment of this condition will automatically result in the cancellation of the provisional admission.

B) Government Officers 1. Minimum percentage of marks at graduation level should be 50%. 2. The upper age limit for all participants should be 50 years on the date of commencement of the programme. 3. Sponsorship letter from the employer. 4. Officers at middle/senior level working with the Central or State Governments, Public Enterprises and autonomous organizations belonging to State/Central Government or similar participants from foreign countries

Programme Fee A) Private Participants/ Corporate Executives Indian Participants: ` 4,75,000/-. International / Foreign Participants: 8500 US$ The Fees would be paid in favour of ‘Accounts Officer, NIFM’ payable at ‘Faridabad’ through Demand Draft. B) For Government Officers The Programme fee for sponsored candidates from Central Government/State Governments/Union Territories is reimbursed to NIFM by the Government of India under Central Plan Scheme of the Ministry of Finance.

Payment Options

on or before 13th July 2015 for Indian participants. On registration 800 US$ and balance of 7700 US$ on or before 13th July 2015 for Foreign participants. 2. Installment Scheme 1* On registration ` 25,000/- and balance in 2 installments of ` 2,30,000 each, 15 days before start of 1st and 3rd term. 3. Installment Scheme 2* On registration ` 25,000/- and balance in 4 installments of `1,17,500 each, 15 days before start of every term. *Installment Scheme is only for Indian Participants.

1. Lump sum payment On registration ` 25,000/- and balance of ` 4,50,000/Note: The Programme fees includes International visit (Economy Class Air Fare and twin sharing accommodation), hostel accommodation, cost of study material, examination & certification, skill development through NISM SMART Lab software, Tea/Coffee during the programme. The fees also includes travel by AC 3-tier train for visit to Mumbai and accommodation on twin sharing basis. The fees dose not include Mess charges, Laundry expenses & expenses on power consumption in the hostel which will be borne by the candidates as per actuals. The expenses not specifically mentioned, if any, will be borne by the candidates.


Application Process Candidates having valid CAT/GMAT/XAT/CMAT/ MAT score The candidates who have valid CAT/GMAT/XAT/CMAT/ MAT score can send application in prescribed form in the prospectus. The completed application along with resume, proof of educational qualifications, work experience (if any), copy of your CAT/GMAT/XAT/CMAT/MAT score card and Application fee `1000/-(Paid through Online), be sent to National Institute of Financial Management (NIFM), Sector-48, Pali Road, Near Badkhal Village, Faridabad121001, Haryana. The envelop should be superscribed by “Application for PGDM (FM), 2015-16”. Bank Details for paying the application fee (RTGS/NEFT/IFSC : HDFC0000557, A/C No. 50100083121045, Bank Name : HDFC Bank. Candidates Having CA, CS, CWA, CFA, MBA (Finance) qualification Professionally qualified CA, CS, CWA, CFA, MBA (Finance) can send application in the same way as prescribed above for candidates having valid CAT / GMAT / XAT / CMAT / MAT score.

Selection Procedure Selection will be based on CAT, GMAT, XAT, CMAT or MAT Score followed by personal interview will be held at NIFM office at Faridabad. For Government Sponsored Officers The government sponsored candidates are eligible for direct admission to full time Post Graduate Diploma in Management (Financial Markets) Applications, complete in all respects shall be sent to receive it by 9th July 2015. All supporting documents/ testimonials (matriculation certificate and relieving letter) in original shall be required at the time of final admission to the Programme. Mere fulfilling the minimum eligibility qualifications by the candidate shall not bind NIFM for offering admission to any candidates to the Programme. Decision of NIFM regarding admission of the candidates to the Programme shall be final and the


selected candidates shall be required to join the Institute on 15th July 2015. Documents The selected candidates would have to show originals and submit self-attested photocopies of the following documents at the time of registration: ▪ 10th, 12th and Graduation Marksheet ▪ Birth certificate ▪ CAT/GMAT/XAT/CMAT/MAT scorecard ▪ CA/CS/CWA/CFA/MBA (Finance) Certificate ▪ Employment Certificate from the employer for sponsored candidates

Important Dates Date

Activities Application Closing Date

09th July, 2015

Personal Interview & Declaration of Result

11th July, 2015

Last date to deposit Registration / lumpsum / 1st installment

13th July, 2015

Commencement of Programme

15th July, 2015

Residential Facility The program is residential for all the participants. Appropriate accommodation is provided to all participants of the program. NIFM has selfcontained hostel facilities in two separate blocks viz., new hostel block and the old hostel block. Catering, laundry, house-keeping and maintenance services have been outsourced and are professionally organized. Mess is compulsory for all residents of NIFM hostel. The charges are collected by the mess operator concurrently on monthly basis. Subject to availability, allotment of family accommodation is also made to the participants desirous of staying with family. The family suites are allotted on first come first serve basis on payment regulated as per extant orders of NIFM.


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 Term-IV Advanced Application Phase Industry Interaction Phase


Fixed Income Securities

Global Financial Markets

Two Months 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

Financial Accounting & Reporting

Portfolio Management

Financial Modelling & Computing

Financial Institutions & Markets

Derivatives & Risk Management

Foreign Exchange & Currency Markets

Corporate Laws

Mutual Funds

Behavioural Finance

Bank Management

Taxation in Securities Markets

Investment Banking

Commodity Markets Operations

Technical Analysis

NIFM 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.

Classroom Teaching

10 months (Including one week international attachment, one week domestic attachment)

Internship / Project During Terms 1 to III, students are expected to study a total of 23 courses of 1 credit each. Each credit would mean approximately 30 hours of classroom inputs.

02 months

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 June, 30, the concluding day of Term IV. Students are free to join their respective organizations on or after May 01 each year. 11

Board of Governors NIFM


Sh. Ratan P Watal Secretary (Expenditure), Ministry of Finance Chairman, Board of Governors

Mr. U. K. Sinha Chairman, Securities and Exchange Board of India Chairman, Board of Governors

Ms. Raja Lakshmi Ravi Kumar Financial Commissioner Ministry of Railways

Mr. Rajeev Kumar Agarwal Whole Time Member, Securities and Exchange Board of India

Smt. Ajanta Dayalan Deputy Comptroller & Auditor General of India Sh. Arvind Kaushal Controller General of Defence Accounts Ministry of Defence Smt. Annie Moraes Member (Finance), Department of Telecommunication Sh. Jawahar Thakur Controller General of Accounts, Ministry of Finance Sh. B. B. Goyal Principal Adviser (Cost), Ministry of Finance Dr. S. S. Yadav Professor, IIT, Delhi Sh Pratip Cahudhuri Former Chairman, State Bank of India Sh. Harsh Kumar Director, NIFM & Member Secretary

Mr. Prashant Saran Whole Time Member, Securities and Exchange Board of India Mr. Manoj Joshi Joint Secretary, Ministry of Finance, Government of India 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, Ahmedabad Mr. Sanjay Nayar Chief Executive Officer, KKR India Advisors Pvt. Ltd. Mr. Sandip Ghose Director, NISM


NIFM Faculty

Harsh Kumar, IRAS Director, NIFM

Akhilesh Jha, ICAS Professor Area-e-Governance Internal Audit

A M Sherry, Ph.D Professor Area-Finance & Accounts

A K Sharan, Ph.D. Professor Area-Public Finance & Economics

Dilip Padhye, IP&TAFS Professor Area-Auditing

K P Kaushik, Ph.D Professor Area-Finance & Accounts

Namrata Agrawal, Ph.D Professor Area-Computer & MIS

S S Khanka, Ph.D Professor Area-Human Resource

Yashwant Kumar, IA& AS Professor Area-Audit & Account

P K. Pandey, Ph.D Associate Professor Area-Finance & Accounts

Brajesh Kumar, Ph.D Assistant Professor Area-Economics

Jaya Bhalla, Ph.D Assistant Professor Area-Human Resource

Reetu Sharma, Ph.D Assistant Professor Area-Marketing

S K Chandila Chief Administrative Officer Area-Government Rules & Regulations

Vinod Gautam, Ph.D Deputy Librarian Area-Information Science

A B Singh, Ph.D Research Associate Area-Finance & Accounts

Programme Director (s) A M Sherry, Ph.D Professor NIFM, Faridabad


Dr. Sunder Ram Korvi Professor NISM, Navi Mumbai

NIFM Visiting Faculty

Mr. Ashutosh Wakhare Area : Risk Management

Mr. Manish Bansal Area : Derivatives

Mr. Rishi Mehra Area : Mutual Fund & Fixed Income Securities

Ms. Shivani Dani Area: Equity Research

Mr. Prakash Sumani Area : Financial Modelling & Valuations, Investment Banking

Ms. Neha Gupta Area: Financial Markets & Institutions

Dr. Ashish Verma Area : Merger & Acquisition

CA Manish Kumar Area : Financial Reporting System

Shri Ajay Aggarwal Area: Option Trading Strategies

Dr. Bhavna Barmi Area : Stress Management

Dr. Prashant Verma Area : Quantitative Techniques

Dr. S P Sharma Area: Economics

Mr. Deepak Jain Area : Wealth Management

Shri Puneet Rathi Area: Derivatives

Mr. Ashok Wadhwa Area : Technical Analysis

CA Gaurav Vohra Area : IFRS & US GAAP

Mr. Rajiv Handa Area : Bank Management

Shri Rahul Ranjan Area: Mutual Funds

Mr. Himanshu Arora Area : Commodities Market

Mr. Sunil Agarwal Area : Bank Management

Ms. Sanju Baweja Area: Soft Skills

Mr. Jaswant Aditya Singh Area : Technical Analysis

CS Suchitta Koley Area : Corporate Law

Shri Rakesh Bansal Area: Technical Analysis

Dr. Kumar Bijoy Area : Financial Institutions & Markets

Mr. Sunil Keswani Area : Team Building & Leadership

CS S.N. Ghosh Area : Securities Law

CA D.S. Rawat Area : Accounting Standards

Sh. Rajesh Jain Area : Capital Market Operation

Saurabh Maheshwari Technical Analysis




Placements (2013-14) Tata Consultancy Services Ltd.

Standard Charted Bank PLC

Persistent Systems Limited

National Stock Exchange of India Limited

Mansukh Securities & Finance Ltd.

KP Synergies

Kotak Securities Ltd.

KARVY Private Wealth

Induslnd Bank Limited

Indian Overseas Bank Ltd.

ICAP Securities Ltd.

HSBC Global Banking and Markets

HDFC Securities Limited

HDFC Bank Ltd.

Genpact India


Elite Wealth Advisors Ltd.

Earnest & Young Global Limited

Copal Amba

Capstone Security Analysis Pvt Ltd

Binary System


Appco Group

Angle Broking Ltd.

Internship (2013-14) Department of Economic Affairs, Ministry of Finance, Government of India

Securities and Exchange Board of India Punjab National Bank Limited

National Stock Exchange of India Limited Union Bank of India Limited State Bank of Hyderabad Bank of India Limited Canara Bank Limited Karvy Private Wealth Dun & Bradstreet Information Services India Pvt. Ltd.

SME Value Advisors

SMC Global Securities Ltd.

Mansukh Securities & Finance Limited

National Institute of Financial Management

Copal Amba

Globe Capital Market Limited

Binary System

Hidden Gems Advisory Aum Capital Market Pvt Ltd. 16

Student’s Performance Report


Test Overview: The BAT aids employers in identifying and screening students who wish to pursue a career in the business world. Test takers should have a general understanding of an familiarity with current events in business, finance and economics. However, much of what is being assessed is a person’s aptitude and skills to be successful in business. Sample Size National Institute of Financial Management

Academic Session 2013-14 Europe, Middle North & South East & Africa America

86 Sections Financial Aptitude Economics Financial Statements Analysis Investment Banking Global Markets Career Skills Analytical Reasoning Math Skills Charts and Graph Analysis News Analysis Overall

Asia & Pacific World





24 23 24 26

25 22 22 21

27 25 25 24

20 20 19 18

24 22 21 21

21 23 20 23

20 23 10 24

21 25 9 26

22 24 8 22

21 24 9 24






Average Score of Sample Size

Average Scores: (your university vs. the global test taker averages) This compares National Institute of Financial Management's Average BAT scores for each section to the Average score for each section of all prior test takers.The horizontal BLUE bar is the Average score of all test takers and the PURPLE Bar represents National Institute of Financial Management's Average score.


APPLICATION FORM Post Graduate Diploma in Management (Financial Markets) 1 Year, Full Time (2015-16) Latest Passport Size Photograph

1. Please fill in all the details in CAPITAL letters only. 2. Application fee of ` 1000/- should be paid by online. Bank Detail for Online PaymentRTGS/NEFT/IFSC : HDFC0000557, A/c No. 50100083121045, Bank Name : HDFC Bank.

NAME (Mr./Ms./Mrs./Dr.)

First Name

Middle Name

Last Name

Father’s/Husband’s Name Date of Birth


Address City


Mobile No.


Tel. No. (Residence)

E-mail Educational Qualification



Year of Passing

% Marks


Work Experience (Please attach proof)

Year UTR / Transaction No.

Months Date


Application Fees of `1000/(through Online only) I undertake to declare that upon my admission to Post Graduate Diploma in Management (Financial Markets) conducted by NIFM-NISM, I would abide by rules and regulations governing the conduct of the programme. * Not Applicable for CA, CS, CWA, MBA (Finance) & for Government Officers.


TO BE FILLED IN BY THE SPONSOR (Only for Sponsored Executives) Name of the Sponsor Designation Organization Address for Communication City Pin Country Phone (O) (R) Email Fax The organization undertake to declare that upon admission of candidate to PGDM (FM) Programme conducted by NIFM-NISM, he/she shall be relieved to join the programme from 15th July, 2015. The participant would abide by rules and regulation governing the conduct of the said programme.


Signature of the Sponsor & Stamp of the Organization

P.S.: Application form complete in all respects together with application fees (Online Transfer), list of enclosures, proof of educational qualification, valid CAT/GMAT/XAT/CMAT/MAT Score and work experience should reach on or before 09th July, 2015 at the following address. The envelope must be superscribed by “Application for PGDM-FM”.

Please send/submit filled in application form at:

National Institute of Financial Management (An Autonomous Institute of Ministry of Finance, Government of India)

Sector-48, Pali Road, Near Badkhal Village, Faridabad-121 001, Haryana, INDIA Website:



HOW TO REACH NIFM, SECTOR-48, PALI ROAD, NEAR BADKHAL LAKE, FARIDABAD FROM INDIA GATE (30 Kms.) & FROM NEW DELHI RAILWAY STATION (33 Kms.) 1. Reach Ashram crossing via Nizamuddin (8 Kms. from India Gate), from New Delhi Railway Station via Connaught Place (11Kms.). 2. From Ashram crossing take Mathura Road and cross Apollo Hospital, Badarpur Border and come to Badkhal Morh/Indira Gandhi Chowk (17 Kms.). 3. Turn right and cross Railway overbridge, move on the Pali Road and come to Badkhal Lake crossing and proceed straight one km. to reach NIFM (5 Kms.). FROM INDIRA GANDHI DOMESTIC & INTERNATIONAL AIRPORTS (34 Kms. from Domestic Airport & 36 Kms. from International Airport) 1. Approach NH-8 and reach Mahipalpur Village junction and take Mehrauli road and after crossing Vasant Kunj, move on to Mehrauli Badarpur Road opposite Qutab Minar (15 Kms.), Cross Batra Hospital and move 2 Kms. on the road leading to Badarpur. 2. Turn right to road leading to Suraj Kund through hilly path. After crossing CITM/MVN School take left turn and come to Gymkhana round circle via Sidhdata Temple (9 Kms.) 3. Turn right, cross Badkhal Lake crossing and proceed 1 Km. ahead for NIFM. FROM OLD FARIDABAD RAILWAY STATION (6 Kms.) 1. Cross KC Cinema and 3 No. DAV School and turn right at ESI Chowk and cross 3 No. and come to Sainik Colony, Sector-49. NIFM is situated in front of the Sainik Colony (6 Kms.) FROM FARIDABAD MAIN BUS STAND (3 Kms.) 1. Buses from AIIMS (28 Kms.), Sarai Kale Khan ISBT (24 Kms.) etc. are available for Faridabad main Bus Stand at Dussehra Ground. 2. From Bus Stand cross Metro Cinema and 3 No. & come to Sainik Colony, Sector-49. NIFM is situated in front of the Sainik Colony (3 Kms.).

A Guide Map for Ready Reference e








6.1 km from end of B Badarpur Toll Road

3.1 KM

M Metro Pole No. P5-42 R

Gymkhana Round Circle




Badarpur Toll Plaza


3.1 km from Gymkhana Round Circle

National Institute of Financial Management An Autonomous Institute of Ministry of Finance, Government of India

Sector-48, Pali Road, Near Badkhal Lake, Faridabad-121001, Haryana, INDIA Contact : 0129-2465251/2418861/2465211 | Board No. 0129-2465444 | E-mail : [email protected]


Financial Markets - National Institute of Financial Management

Post Graduate Diploma in Management Financial Markets Jointly offered by: National Institute of Financial Management An Autonomous Institute of Min...

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maturity till 30 days. The annual averages of interbank interest rates are computed as simple arithmetic averages of mon

Mathematics of the Financial Markets
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