The National Institute of Securities Markets (NISM), established by the Securities and Exchange Board of India (SEBI) for providing education in the field of finance, on Friday said its new facility, spread across 70 acres on the outskirts of Mumbai, would be inaugurated by December. The centre is being built at a cost of Rs 325 crore, of which Rs 225 crore will be provided by the markets regulator; the rest will come from the private sector.

“We don’t want to make NISM a captive organisation. We would like more and more people from industry to come in…the private sector will be involved not only in availing of the facility, it will also have a role in the management of the facility,” -SEBI Chairman,UK Sinha said at a conclave on financial markets. Reserve Bank of India Deputy Governor Mr R. Gandhi added “As the banking sector requires more expertise, knowledge or specialisation, it is going to be in high demand, and people will be moving from institution to institutions. Attrition is going to be the norm,” while speaking at the Financial Markets Conclave, organised by National Institute of Securities Markets (NISM).