Prospectus 2013-2014

PGPSM is a 1-year Post Graduate Programme with

specialization in securities markets

MOST B-SCHOOL STUDENTS CHOOSE

A SPECIALIZATION IN THEIR SECOND YEAR
You would be a specialist in securities markets by then.

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 constituencies 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.

Institute's 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 School,
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)

BACKGROUND OF NISM

SCHOOL FOR SECURITIES EDUCATION (SSE)

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 Trust 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.

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

to participate more 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 5%, 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.

Board of Governors
As on March 5, 2013
Mr. U. K. Sinha
Chairman, SEBI (Chairman, Board of Governors)
Mr. Rajeev Kumar Agarwal
Whole Time Member, SEBI

Dr. Pritam Singh

Director General,
International Management Institute (IMI),
New Delhi

Mr. Prashant Saran

Whole Time Member, SEBI

Prof. R. Vaidyanathan
Professor of Finance
Indian Institute of Management, Bangalore

Mr. Anup Wadhawan

Joint Secretary (Capital Markets),
Department of Economic Affairs,
Ministry of Finance, New Delhi

Dr. Sanjay Kallapur

Senior - Associate Dean, Faculty and Research,
Indian School of Business,
Hyderabad

Mr. P. K. Nagpal
Executive Director-SEBI and Director-NISM

Dr. Ajay Shah

Professor,
National Institute of Public Finance and Policy,
New Delhi

Mr. Uday Kotak

Vice Chairman & Managing Director, Kotak Mahindra
Bank Ltd.

Mr. P. K. Nagpal
Director, NISM (Chairman, Academic Council)

Ms. Chanda Kochhar

Managing Director & Chief Executive Officer, ICICI Bank
Mr. R. M. Malla
Chairman & Managing Director, IDBI Bank Ltd.
Dr. Anil Khandelwal
Former Chairman of Bank of Baroda
Mr. M. S. Sahoo
Advocate

Mr. G. P. Garg
Registrar, NISM

CONTENTS

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Post Graduate Programme in Securities Markets (PGPSM)

About PGPSM
Value Addition from PGPSM
Target Audience
Programme Architecture

01
01
01
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
03
03
04
04
04
05
05
05

Placement Facilitation

06

Academic Team
Full-time
Visiting Faculty

07
07
09

Testimonials
Alumni

10
10

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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15
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Important Dates

16

POST GRADUATE PROGRAMME IN SECURITIES MARKETS (PGPSM)

PROGRAMME DESIGN AND CONTENT

For students aspiring a career in 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.

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.

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 Manage-ment (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 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.

Value Addition from PGPSM

By completing the PGPSM, students would be able to:
Abstract the building blocks of the securities markets,
understand them conceptually, and develop the
capability to design solutions that meet specific
requirements
Upgrade knowledge and skill sets necessary to perform
the key technical activities in the securities markets
Develop a well - rounded, complete understanding of
securities markets

Target Audience
The target audience includes:
Graduates and post-graduates aspiring for careers in
securities markets
Executives seeking careers or career switches related to
securities markets

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 Finance

Securities Analysis &

Valuation

Regulation - Theory &

Practice

Project Dissertation

Statistics for Finance

Econometrics & Time

Series Analysis

Mergers, Acquisitions &

Corporate Restructuring

Seminars

Financial Accounting &

Reporting

Portfolio Management

Financial Modelling

Financial Institutions &

Markets

Derivatives & Risk

Management

Corporate Governance

Corporate Finance

Mutual Funds

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

(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.
During Terms I to III, students are expected to study a total
of 18 courses of 1 full credit each. Each credit would mean
approximately 30 hours of classroom inputs.
In Term IV, commencing from April 16, 2013 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, it 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 16 each year.

01

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

Accommodation and Residential

Facilities

A wide range of pedagogical approaches is deployed. The

learning environment is further stimulated by use of
technology such as Databases (Bloomberg, Capitaline,
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 upto-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:

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.

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. NISM also has a
fine auditorium with a seating capacity of 150.
The hostel, NISM Niwas, also a 6-storey building, is
located about 2 Km from the Institute.

03

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 hand-picked 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.

04

PLACEMENT FACILITATION
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 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.

05

NISM does not guarantee placements. However, 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 earned a name for themselves
and NISM in the following organisations:
A. K. Capital
Asit C. Mehta Intermediaries Ltd.
Bank of America
CARE Ratings
Capgemini
Credit Suisse
Darashaw & Co. Ltd.
ICICI Bank Ltd.
ICRA Management Consulting Services Ltd.
India Nivesh
I-Peritus
IRIS Business Solutions Ltd.
JMN Investment Research Ltd.
JP Morgan
Markit
Nomura
SES Governance
SWIFT
Syntel
Thomson Reuters

Other organizations that expressed their interest:

Angel Broking
Aranca
Axis AMC
Bloomberg
BNP Paribas MF
Canara Robeco
Deutsche Bank
Dolat Capital
Elara Capital
Franklin Templeton
Globeop
Inga Capital
LKP Finance
MCX-SX
Pramerica
Principal Retirement Solutions
Tata Capital
World Bank

06

ACADEMIC TEAM
Full-time
Prof. Sunder Ram Korivi
Dean - School for Securities Education
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 & Management
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 prior work experience with Business
India as a Corporate Researcher, Tata Industrial Finance
Corporation as a Merchant Banker.

07

Dr. S. Rachappa, Associate Professor

Dr. K Kiran Kumar, Assistant Professor

Mr. Akhlaque Ahmed, Lecturer

Dr. Rachappa is an M.Com (Accounting, University Rankholder) and PhD (Life Insurance) from Osmania University.
He is a member of the American Accounting Association
(AAA) and the Indian Accounting Assocation. He has
conducted training programmes for the officers of the
Securities Exchange Board of Exchange (SEBI). Prior to
joining NISM, was an Associate Professor at Narsee
Monjee Institute of Management Studies (Deemed
University), Mumbai, and prior to that, a full-time faculty
member at Osmania University College of Commerce and
Business Management. He was a visiting faculty at
National Institute of Industrial Engineering (NITIE) and the
School of Business Management at Jawaharlal Nehru
Technical University (JNTU). He has consistently obtained
high ratings from past students of MBA and CFA Institute
(USA). He was the recipient of Indian Accounting
Associations Young Researcher Award for the year 200809 and also ICFAI's Daily Telegraph Best Research Paper
Award in 2008. He specializes in Financial Reporting,
Analysis and Forensic Finance. He also has interests in the
life insurance sector. He has presented more than 20
research papers in national and international
conferences and has 5 research publications in his
name. He has conducted peer reviews of two
research articles for Vikalpa, the
Journal published by IIM
Ahmedabad.

Dr. Kiran Kumar holds a PhD in Finance from the Indian

Institute of Science, Bangalore and an MA in Economics
from Hyderabad Central University. His research focuses
on Market Microstructure, Derivatives, and Applied
Financial Econometrics. He has received five Best Paper
awards in national and international conferences and has
published ten research papers. He has delivered lectures at
several research workshops including SAS Workshop for
Researchers at Indian School of Business, Structural VAR
Models at RBI Staff College, and Econometrics Workshop
of Indian Econometric Society. Earlier, he was with the
Centre for Analytical Finance, Indian School of Business as
Senior Researcher and Researcher at ICICI Research
Centre, Chennai. He is also associated with the School for
Securities Information and Research in building the
Network for Securities Market Data.

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. 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 RLanguage, Matlab, Stata and statistical and mathematical
softwares.

Dr. Poonam Mehra, Assistant Professor

Dr. Poonam Mehra holds a PhD in Economics from the
Indira Gandhi Institute of Development Research (IGIDR),
Mumbai. She has been a PhD scholar at University of
Hamburg under the European Union's Asia Scholarship
Programme (December 2006 - July 2008). She is a Gold
medallist in Economics (MSc) with specialization in
Econometrics and Industrial Organization. She has been
awarded National scholarship at different levels of her
academic career. Her teaching interests include
Economics for Securities Markets, Mergers &
Acquisitions, Econometrics and Regulation in Securities
Markets. She has been a guest faculty at IICM, NIBM and
Azim Premji University. She also teaches in Management
Development Programmes and SEBI programmes. Her
research interests include Applied Econometrics,
Corporate Finance, Institutional Economics and Applied
Game Theory. She has published papers in international
journals and has presented her research work in several
international conferences and workshops. She is a
reviewer for international journals. She has been involved
in policy-oriented research and consultancy projects for
Ministry of Finance, Securities
Exchange Board of India and IGIDR
Finance Group. She has served as a
committee member for sponsored projects
of Ministry of Finance.

Ms. Kavitha Ranganathan, Academic Associate

Ms. Kavitha Ranganathan is an MPhil and a Post Graduate
in Commerce (Mumbai University). She is currently
pursuing a PhD in Behavioral Finance. Prior to joining
NISM, she worked as a Research Associate at IIM
Bangalore. At NISM, she is primarily associated with the
School for Securities Education (SSE), and research
projects at NISM. Her research interests are in Behavioural
Finance, Experimental Economics and Decision Making
Approaches. She is also involved in policy-oriented
research projects for Ministry of Finance, Securities and
Exchange Board of India (SEBI) and IGIDR Finance Group.
She has presented her research work at international and
national conferences and won the best paper award at the
IISc COSMAR Conference.
Ms. Shobana Balasubramaniam, Academic Associate
Ms. Shobana Balasubramaniam is an MSc in Economics
from Indira Gandhi Institute of Development and Research
(IGIDR) and Economics-Statistics graduate from Mumbai

08

TESTIMONIALS
University. She has been involved in research projects for
Ministry of Finance and Securities and Exchange Board of
India (SEBI). She has been invited by St. Xaviers' College,
Mumbai to conduct sessions in Time Series Analysis. Her
research interests include International Economics,
Applied Econometrics and Policy Research.

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.

Dr Rachana Baid, Adjunct Associate Professor

Abhishek Priyadarshi, JMN Investment Research
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.

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.

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.
09

Balasubramanian Srinivasan, TAMP

Dr. Kavitha Laghate
Dr. Kavitha Laghate, MSc (Statistics) and PhD, the Director
at Jamnalal Bajaj Institute of Management Studies,
Mumbai. Her areas of interest are Statistics and
Quantitative Finance.
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.

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

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.

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.

10

ADMISSION PROCEDURE
Eligibility Criteria
Minimum qualification
A bachelor's degree from a recognised Indian university or
equivalent with a minimum of 50% in aggregate.
Age
There is no age limit for the programme, but it is desirable
that the candidate is below 30 years of age.
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 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%

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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

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.

Personal Interview

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 April
28, 2013 (Sunday). For guidance on choice and availability
of online test centre, kindly refer to the following section on
test centres.

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
2013. 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

The first list of selected candidates will be displayed on the
Institute's website on May 28, 2013. Selected candidates
would be required to pay the first installment of fees (see
table of fees) on or before June 11, 2013. Provisional
admission offered to selected candidates who do not pay
the fees on or before the stipulated date would
automatically stand cancelled.
The second list of selected candidates will be announced
on the Institute's website on June 12, 2013 subject to
availability of seats. Selected candidates in the second list
would be required to pay their tuition fees and complete all
formalities before June 25, 2013. If a candidate does not
complete the formalities within the date specified, the
admission would automatically stand cancelled.

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.
12

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 ` 2,50,000/- (Rupees Two Lakhs 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 (Say, October 3, 2013).
A failure or non-submission may result in the cancellation
of provisional admission.

The break-up of the fee is as under:

NO.

PARTICULARS

FEE AMOUNT `

2,30,000

01

Tuition Fee

02

Examination Fee

10,000

03

Library Fee

10,000

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

Non-Refundable Deposits
The students are also required to pay the following charges which are not-refundable.
NO.

PARTICULARS

AMOUNT `

01

Alumni Association Fund (Annual)

2,000

02

Hostel Rent (monthly)

3,000

03

Boarding Charges*

To be paid at actual monthly

04

Lunch & Tea charges per month **

To be paid at actual monthly

Applicable for students availing of hostel facility. All hostel rooms are non-A/C.
Deposits are refundable subject to adjustment of any dues from the students.
*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.

13

14

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/pgpsm. A candidate can register online
by making a payment of ` 1,000, electronically (nonrefundable).
Please visit the website:
www.nism.ac.in/pgpsm, for complete details.

Last date for Online Registration

The last date for online registration is April 23, 2013.
Please DO NOT forward copies of any certificate along with
application form.

IMPORTANT DATES
Commencement of Online Registration

April 02, 2013

Last date for Online Registration

April 23, 2013

Online Test

April 28, 2013

Announcement of online test results

May 3, 2013

Personal interviews

May 11-12 & 18-19, 2013

Announcement of first list of selected candidates

May 28, 2013

Payment of fees by first list of candidates

June 11, 2013

Announcement of second list of selected candidates

June 12, 2013

Payment of fees by second list of candidates

June 25, 2013

Last date of completing all formalities and registration

June 25, 2013

Programme Commencement and Orientation week

June 26, 2013

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
Last date for Online Registration is April 23, 2013
(Tuesday)
Recent Photographs have to be uploaded for Online
Registration
Date for NISM Online Test is April 28, 2013 (Sunday)
Please visit the website www.nism.ac.in/pgpsm for
further updates and information

*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
Tel: +91 22-66735100-05 (Board) | Fax: +91 22-66735110
Email: pgpsm@nism.ac.in
Website: www.nism.ac.in/pgpsm

15

16

NATIONAL INSTITUTE OF SECURITIES MARKETS

NISM Bhavan, Plot No. 82, Sector 17, Vashi, Navi Mumbai - 400 703
Tel: 022 6673 5100-05 | Fax: 022 6673 5110
www.nism.ac.in

Apply Online:
www.nism.ac.in/pgpsm