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(NISM)

The National Institute of Securities Markets (NISM) is a public trust established in 2006 by the Securities and Exchange Board of India (SEBI), the regulator of the securities markets in India. The institute carries out a wide range of capacity building activities at various levels aimed at enhancing the quality standards in securities markets.

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Financial Planning: A Journey to Financial Freedom, Security, and Prosperity

Posted on by Auburn Solutions

 

Financial Planning: A Journey to Financial Freedom, Security, and Prosperity

Financial Planning is a common term, yet uncommon for many. It is more than just managing the money, but investing in the future to achieve short-term and long-term goals. In today’s dynamic environment, a robust financial plan is a necessity of the hour. Whether you aim to purchase your dream home, dream car, fund your child’s education, or ensure your relaxing and soothing retirement, a well-researched and structured financial plan serves as a solution to your financial goals and aspirations. It provides clarity and helps us to make informed decisions and pave the way for a secure and sustainable future.

The term Financial Planning

In our everyday life, we often listen to the words “Financial Planning,” but what is the real meaning of it? Financial Planning involves assessing your current financial health, setting up achievable goals, and creating a strategy for fulfilling those goals. It includes various aspects, including:

  • Budgeting
  • Managing expenses
  • Developing saving habits
  • Investing
  • Planning for taxes

The primary objective is to ensure that you have enough resources to align your financial needs and aspirations.

Arvind’s Story: From Financial Chaos to Control

In 2018, at 28, Arvind Sharma seemed to have it all — a lucrative job in Pune’s IT sector, a brand-new bike, regular online shopping sprees, weekend outings, and even trips to Goa. His Instagram was filled with flashy snapshots of this lifestyle. But underneath the social media sheen was a stark reality: Arvind had no savings, no insurance, and no investments — just a pile of EMIs and bills. Financial planning had never crossed his mind.

The Turning Point

In 2020, when the pandemic struck, his company slashed salaries. That’s when reality hit hard. With just ₹4,780 in his bank account and no backup, Arvind was forced to confront his financial vulnerability. “What if I lose my job?” he wondered. This moment became the start of his financial transformation.

Step-by-Step: Arvind’s Financial Makeover

  • Step 1: A Hard Look at Spending
    • Food delivery: ₹6,000/month
    • Unused subscriptions: ₹1,200/month
    • Credit card payments: ₹15,000/month
    • Rent: ₹15,000/month
    • Groceries: ₹12,000/month
    • Shopping: ₹15,000/month
    • Travel: ₹15,000/month
    • Savings & Investments: Zero
  • Step 2: Learning the Basics
    • Budgeting gives freedom, not restriction.
    • Emergency funds are essential.
    • Insurance protects, it doesn’t burden.
    • Investing is necessary to stay ahead of inflation.
    • Financial planning is a form of life planning.
  • Step 3: Budgeting with the 50-30-20 Rule
    • 50% for needs (rent, food, EMIs)
    • 30% for wants (entertainment, lifestyle)
    • 20% for savings and investments
  • Step 4: Creating an Emergency FundHe allocated ₹2,00,000 into a liquid mutual fund, enough for three months of expenses. Pro Tip: Emergency funds are like umbrellas — you may not need them every day, but they’re indispensable when it rains.
  • Step 5: Getting Insured
    • Term life insurance of ₹1 crore or more, depending upon the need.
    • Health insurance worth ₹25 lakhs covering him and his family
  • Step 6: Smart Investing through SIPs
    • ₹5,000/month in ELSS for tax benefits
    • ₹4,000/month in equity mutual funds for long-term growth
    • ₹2,000/month in hybrid funds for mid-term goals
  • Step 7: Behavioural Changes
    • Stopped EMI-financed gadgets
    • Avoided peer pressure for expensive outings
    • Resisted tempting but unnecessary sales

Where Arvind Stands Today

  • ₹3.9 lakhs in mutual fund investments (approx.)
  • ₹2,00,000 in emergency savings
  • Comprehensive insurance coverage
  • Peace of mind

“I don’t stress about money anymore. I take charge of it now — that’s the power of financial planning.”

Lessons from Arvind’s Journey

  • Start Small, Start Now – Don’t wait for a big salary to begin.
  • Plan, Don’t Just Earn – Income without planning leads nowhere.
  • Automate Savings – Treat saving like a bill to be paid, not a leftover.
  • Secure, Then Grow – Get insured and build your emergency cushion first.
  • Track and Tweak – Financial planning is a continuous process, not a one-time task.

Vikas Garg
Assistant Manager
Centre for Content Creation (CCC)
National Institute of Securities Markets (NISM)

Disclaimer: The story narrated above by the writer is intended solely for educational and informational purposes. It doesn’t represent the views of the NISM. Readers are advised to consult SEBI-registered Investment Advisors before making investments or financial decisions.

How to crack NISM’s Alternative Investment Fund Managers Exams

Posted on by Auburn Solutions

NISM currently offers 3 Alternative Investment Fund (AIF) Certification Examinations for Fund Managers. This article will try to address the rationale for 3 AIF Managers exams, the differences among these 3 exams and some common queries that learners may have.

The first AIF Manager Exam was launched in January 17, 2024 by NISM. It is known as NISM Series-XIX-C: Alternative Investment Fund Managers Certification Examination. The need for this Certification Examination originated from the requirement by SEBI to create a common minimum knowledge benchmark for AIF Managers and its key investment team. Through a circular dated May 13, 2024, SEBI mandated that at least 1 person from the Key Investment Team of an AIF Manager should have relevant certification (as one of the criteria) in order to obtain certificate of registration as an AIF. Series-XIX-C: AIF Managers Certification Examination focuses on fund management aspects of all three categories of AIFs.

An AIF Manager may have relevant educational qualifications, such as, CA, MBA, Post-Graduation etc, and even have experience managing funds; but this may still not be enough to know the basics of Fund Management activities of an AIF as this Industry is unique and developing rapidly since the last decade. Ticket sizes for investment are much higher, typically starting at Rs 1 crore, handling a class of sophisticated investors who have higher return expectations. Further, AIFs invest in unlisted private markets and thus the level of complexities and risks involved are also higher. The mechanics of dividend distribution, cash flows and return metrics, apart from taxation and fund governance, are also unique in nature and quite distinct from processes followed by other pooled investment vehicles. For all these reasons, SEBI rightly was concerned on ensuring that the AIF Managers be equipped with adequate knowledge to manage AIFs efficiently.

However, this exam is not just for AIF Investment Team personnel but also for anyone interested to know the workings of an AIF or want to make a career in the fast-growing AIF Industry.
Last year before I joined NISM, I was fascinated to know more about AIFs. Having spent more than 2 decades in the Mutual Fund Industry, I felt the AIF Industry might be a natural career progression for me or at the very least I should know more about this industry. Upskilling and enhancing knowledge in a fast-changing world is important for anyone and with time at my disposal, I decided to appear for an Exam after nearly 25 years! Listing below a few learnings from my own experience of appearing for the exam.

  • Do not rush into enrolling and appearing for the Exam before reading the study material thoroughly. Since the workbook runs into more than 550 pages, it would be wise to read all chapters, if required even twice or thrice before attempting the exam.
  • Do focus a bit more on the chapters with higher weightages and those from where case studies can likely be asked. There are illustrative examples given within the various chapters and one can practice these examples repeatedly to understand the calculations.
  • Ensure to use excel and practice the excel formula-based concepts mentioned in the workbook so that you are comfortable using the same in the exam too.
  • Keep in mind the aspect of negative marking (25%), so avoid wild guesses.

 

While Series-XIX-C made its debut in January 2024, and became mandatory vide the SEBI Circular published in May 2024 (with a deadline of 9th May 2025 to clear the exam), In a recent development, Industry Associations represented to SEBI to provide an option to split the categories as it was felt that most AIFs either manage Category I and II AIFs or Category III AIFs. Accordingly, NISM was tasked by SEBI to create and launch two separate examinations, one for only Category I and II AIFs and another for Category III AIFs. On May 1, 2025, NISM launched Series-XIX-D: Category I and II AIF Managers and Series-XIX-E: Category III AIF Managers Certification Examinations.

Candidates who have already cleared Series-XIX-C are not required to again take Series-XIX-D or Series-XIX-E exams. The key question many have is whether they can take Series-XIX-D or Series-XIX-E in lieu of Series-XIX-C for meeting the SEBI requirement. A formal Gazette notification needs to be issued by SEBI to mandate these 2 exams (i.e. Series-XIX-D and Series-XIX-E), so that these examinations are also considered as the requisite certifications for respective AIF categories. As on end of May 2025, such notification is awaited.

Meanwhile SEBI has also provided an extension in the date to clear Series-XIX-C Certification Examination from the earlier May 9, 2025 to July 31, 2025 based on representations from Industry bodies and to ease burden of compliance.

The workbooks of Series-XIX-D and Series-XIX-E are expectedly smaller in size in terms of number of pages. XIX D is about 390 pages and XIX E about 445 pages. The test duration is also revised: 2 hrs for each exam, whereas Series-XIX-C is of 3 hrs. Similarly, the number of questions is also lesser: 80 questions each instead of 120 questions. So, its good news for learners who want to study for only Category I and II or Category III rather than studying all 3 categories together. However, from an overall knowledge perspective I would still urge those who want to make a career in the AIF industry, know more about AIFs or even investors who may invest across all Categories of AIFs to take the comprehensive Series-XIX-C exam.

Like other NISM workbooks, the AIF Manager study material may also undergo periodic revisions to incorporate new/modified regulations, changes in taxation, fund management aspects etc. Thus, it is always advisable to download the study material from NISM website and check the Workbook version mentioned in the beginning of the workbook so that one studies the most recent one. NISM study materials are freely downloadable from the NISM website at: https://api.nism.ac.in/cmp/

For a detailed understanding of these 3 AIF Managers examinations, please refer to the following:

 

Author,
Ms. Bekxy Kuriakose
GM – Content, NISM

The curve steepens: RBI’s rate bonanza impact on g-sec prices

Posted on by Auburn Solutions


Under the Chairmanship of Shri Sanjay Malhotra, the RBI MPC (Monetary Policy Committee) delivered a higher than expected 50 bps cut in the policy repo rate from 6% to 5.50% at conclusion of its meeting on June 6th 2025. The last time RBI cut rates by 50 bps was about 10 years back in Sept 2015 (from 7.25% to 6.75%). This recent 50 bps cut is the most significant reduction since the emergency easing of 75 bps during the COVID-19 pandemic in March 2020. Five out of six members voted in favour of 50bps cut in policy repo rate while one member voted for a 25bps cut

The key reasons for the cut were to boost private consumption and investment. And RBI decided to frontload the rate cut given the significant softening in inflation over past six months and lower than expected growth conditions. The domestic GDP growth projections maybe impacted by uncertain global growth outlook and weak sentiments in backdrop of tariff disputes, weather uncertainties and geopolitical tensions. While real GDP growth for Fy 25-26 is projected at 6.5%, CPI for same period is projected at 3.7%.

And that was not all. RBI also decided to cut the CRR (Cash Reserve Ratio) by 100bps in 4 tranches of 25bps each (with effect from the 4 weeks beginning September 6, October 4, November 1 and November 29, 2025). This is expected to release extra liquidity of Rs 2.5 lakh crores by December 2025 into the banking system.

And to top it all given all this frontloading rate action, RBI decided to change its monetary policy stance from “accommodative” to “neutral”. The RBI Governor indicated that the space for future rate cuts is quite limited. This probably was the disappointing factor for the g sec traders at the long end considering that 25 bps cut was already factored in.

The market was expecting a 25 bps rate cut but all the above rate action alongwith the change in stance led to volatility in gsec (government security) prices post the RBI announcement on June 6th. Initially prices rose (and yields fell), however towards the end of day there was a selloff and the 10 yr benchmark gsec yield ended at 6.29%, 5 bps higher than the previous day close of 6.24%. The 15 yr benchmark gsec ended at 6.50%, 9 bps higher than previous day close. On the other hand, the 5 yr benchmark gsec ended at 5.82%, 2 bps lower than the previous day close of 5.84%.

This is thus clear evidence of steepening of the yield curve with the long end yields having gone up and the short end of the yield curve softening at the margin. The short end gsec prices would also be impacted positively by the liquidity infusion through the CRR cut which would come in the months ahead.

We are just a day in post the Monetary policy. The overall environment remains conducive for gsec prices to go higher. However most of the good news of the rate cuts may already be factored in.

Ms. Bekxy Kuriakose, 
GM – Content, NISM 

Information Ratio – How should investors interpret it

Posted on by Auburn Solutions

From April, 2025, AMCs will be required to include Risk Adjusted Return information as part of the fund performance statistics they publish. Till now, AMCs were required, by regulation, to disclose scheme returns vis-à-vis the benchmark returns (TRI) in terms of Compounded Annual Growth Rate (CAGR) across various time periods.

CAGR is a very useful performance statistic as it represents the mean annual growth rate of an investment over a specified time period, assuming that the investment has grown at a steady rate. It reflects the compounding effect of growth over time. It is therefore far superior to average returns, especially in times of volatility, as average returns is a simple mean of the annual returns over the time period.

To help investors make better decisions, AMCs will now have to additionally disclose the Information Ratio (IR) of equity funds – a ratio that measures the Risk Adjusted Returns of the funds. The IR measures the excess returns of an investment relative to its benchmark, adjusted for risk. The IR is calculated as the ratio of the excess returns to tracking error, where excess returns is the difference between the portfolio returns and the benchmark returns, and the tracking error is the standard deviation of the excess returns. The IR provides a clear indication of how well the fund is performing relative to the benchmark and a positive and higher IR suggests better performance. The following illustration will help investors understand how to interpret both CAGR and the Information Ratio. The hypothetical performance statistics of two funds – Fund A, Fund B – and their benchmark – are given in the table below –

 

While Fund A has delivered significantly better returns (when seen on Average Returns basis), there have been wild swings in the returns, year on year. Fund B has delivered more consistent returns, year on year, and hence the CAGR for Fund B is better than Fund A. Not only that, the CAGR of Fund A is lower than the benchmark CAGR and Fund B has outperformed the benchmark. An easier understanding can be had by looking at the fund value at the end of 5 years, where Fund B has a higher fund value than both the benchmark as well as Fund A. The higher positive IR for Fund B indicates that it generated excess returns over the benchmark after adjusting for risk and that it has performed better compared to Fund A on a risk adjusted basis. With AMCs now required to make these additional disclosure, mutual fund investors will surely benefit.

Sashi Krishnan
Director, NISM

This article was part of the April 2025 NISM Newsletter. Click here to view the Newsletter: https://www.nism.ac.in/newsletter-2025/

Systematic Investment in Gold has paid off

Posted on by Auburn Solutions

Indian households have always had a deep-rooted affinity for gold. Indians purchase gold not only for cultural and emotional reasons, but also as a long-term investment. Now, with gold prices scaling the Rs. 100,000 mark per 10 grams, this has turned out to be one of the best investments that Indian households have made. Many Indian households buy a small amount of gold every year, especially on Akshaya Tritiya. Let us examine how they would have fared if they had consistently bought 10 grams of gold each year, on 1 April of the year, from 2005 to 2024, and sold the entire holding on 1 April, 2025. Would they have been better off compared to investing the same amount, annually, in the NIFTY 50?

On 1 April, 2005 gold was at Rs.6180 per 10 grams. By 2012, gold prices had surged past Rs. 28,000 per 10 grams. Gold continued its relentless upward move, crossing Rs. 50,000 per 10 grams in 2022, Rs. 60,000 per 10 grams in 2023, Rs. 70,000 per 10 grams in 2024 and Rs. 90,000 per 10 grams in 2025. Summing up 20 years of investments in gold, the total outflow for the purchase of 10 grams of gold every year, amounting to a total of 200 grams, would have been Rs. 6,00,000. Selling the entire 200 grams at the 1 April, 2025 price of Rs.92,830 per 10 grams would have yielded Rs.18.57 lakhs – an extended internal rate of return (XIRR) of 13.19%.

In contrast, let’s suppose that the household, instead of buying gold, invested the same amount each year into a NIFTY 50 index fund. The index stood at a level of 2067 on 1st April, 2005 and steadily rose to a level of 22,462 by 1 April, 2024. The annual contributions of the household would have helped them accumulate about 70.72 units of the index fund over the 20 years. If the household sold these units on 1 April, 2025, at an index level of 23,165, it would have yielded them Rs.16.38 lakhs – an XIRR of 11.90%.

Very clearly, the recent spurt in the price of gold has benefited Indian households significantly, as Indian households have traditionally been investors in gold rather than being equity investors. The return from gold has, over the last 20-year period, outpaced the returns from equity. While past performance is not an indicator of future returns, gold as an asset class has helped Indian households create wealth for themselves while at the same time offering them psychological comfort and downside protection. In uncertain times, gold most definitely retains its place as a stabilizing asset in a diversified portfolio.

Sashi Krishnan
Director, NISM

This article was part of the May 2025 NISM Newsletter. Click here to view the Newsletter: https://www.nism.ac.in/newsletter-2025/

Unlock Your Future: Why PGDM (Securities Markets) at NISM is the Ultimate Career Game-Changer

Posted on by Auburn Solutions


India’s BFSI Sector Is Booming
The Indian Banking, Financial Services, and Insurance (BFSI) sector is witnessing unprecedented growth, creating massive demand for skilled professionals:

  • In FY24, private BFSI firms hired over 211,000 professionals, marking the highest hiring in a decade.
  • Employment in banking, NBFCs, insurance, and fintech is projected to grow by 5%–7% in H1 FY25.
  • Demand for BFSI talent in Tier 2 and Tier 3 cities has increased by 30%, driven by financial penetration and digitization.
  • Government and academia are pushing financial education initiatives to bridge the skills gap.

 

What is NISM?
The National Institute of Securities Markets (NISM) was set up by SEBI to focus on both financial education and developing markets. Nestled on an attractive 72-acre campus outside Mumbai, NISM offers top-class buildings, enthusiastic staff, and unbeatable business connections.

What is PGDM (Securities Markets)?
The Post Graduate Diploma in Management (Securities Markets) is a two-year, AICTE-approved program that blends theoretical knowledge with real-world experience in:

  • Financial Analytics
  • Securities Market Laws
  • FinTech & ESG
  • Derivatives & Risk Management
  • Mutual Funds, Equity & Fixed Income

 

It’s more than a degree—it’s a gateway to an impactful career in securities markets.

How NISM’s PGDM (SM) Aligns with This Surge
The rapid growth in the industry makes NISM’s PGDM (Securities Markets), established by SEBI, a great opportunity to begin your career in the BFSI sector.

Industry Demand NISM PGDM (SM) Offering
Soaring need for professionals in investment, risk, and compliance Industry-focused curriculum with dedicated courses on Risk Management, Compliance, and Law
BFSI is concentrated on hiring digital-ready talents. Access to SMART Lab, Bloomberg Terminals, and case-based simulations
Need for multi-skilled analysts Integrated learning in Finance, Economics, Quant, and Data Analytics
Priority on certification-ready professionals Six embedded NISM certifications, making you industry-ready on Day 1
Recruiters looking for practically trained graduates Real-time projects, internships, guest lectures, and leadership series with market experts

Be Future-Ready with NISM:
With BFSI transformation and the surge in securities markets, NISM’s PGDM (SM) puts you at the forefront of a high-demand, high-impact career.

Programme Objectives & Learning Takeaways – At a Glance

Programme Objectives Key Learning Takeaways
To develop complete professionals for the securities markets ecosystem Comprehensive understanding of equity, debt, currency & commodity markets
To provide a robust grounding in finance, economics, law, compliance, and FinTech Insights from Finance, Accounting, Economics, Law, and Quantitative Methods
To impart industry-relevant and contemporary knowledge through expert faculty Hands-on exposure via case-based pedagogy, Harvard cases, and SMART Lab
To foster analytical, research, and problem-solving abilities Strong emphasis on analytical skills, critical thinking, and decision-making
To blend academic rigour with real-world market exposure Exposure to live trading simulations, field visits, and Bloomberg terminals
To enable students to pursue professional certifications and lifelong learning Earn six embedded NISM certifications during the course
To build leaders who can adapt to evolving global financial landscapes Insights into ESG investing, FinTech innovation, and global financial practices

Why Choose NISM?

  • Capacity Building Initiative of SEBI – backed by India’s capital markets regulator
  • World-class campus hostels, sports, medical & wellness facilities
  • Industry-oriented curriculum with global standards
  • SMART Lab, Bloomberg, Harvard case studies – real learning in real time
  • Top-class faculty industry veterans and academic leaders
  • Vibrant alumni network across global finance institutions

Career Pathways After PGDM (SM) & Past Recruiters

Career Segment Potential Roles Select Past Recruiters
Equity & Debt Markets Equity Analyst, Fixed Income Analyst, Portfolio Manager Morningstar, Motilal Oswal, Edelweiss, AK Capital
Investment Banking & Advisory Investment Banker, M&A Analyst, Corporate Finance Associate JM Financial, Axis Bank, ICICI Bank
Risk & Treasury Management Risk Manager, Treasury Analyst, Treasury Operations Manager SBI Mutual Fund, RBI, HDFC Bank
Mutual Funds & Asset Management Fund Manager Assistant, Compliance Analyst, Research Analyst HDFC AMC, UTI AMC, ICICI Prudential, SBI Mutual Fund
Wealth & Financial Planning Wealth Manager, Financial Planner, Investment Advisor ICICI Bank, UTI AMC, Independent Advisory firms
Market Infrastructure Institutions Operations Manager, Compliance Officer, Business Development Executive NSE, BSE, NSDL, CDSL
FinTech & Data Analytics Quantitative Analyst, Algo Trader, Data Analyst KPMG, FinTech startups
Research & Compliance Research Analyst, Compliance Executive, Policy Analyst CRISIL, SEBI, Capital Market Publishers

References

  • Business Standard. (2024, April 26). Tier 2, 3 cities see 30% rise in demand for jobs in the BFSI sector. Retrieved from Business Standard BFSI
  • Business Standard. (2024, September 4). BFSI on hiring sprint, IT sector stumbles in headcount marathon in FY24. Retrieved from Business Standard
  • National Institute of Securities Markets. (2025) PGDM (Securities Markets) brochure https://www.nism.ac.in/pgdm-brochure-url
  • The Economic Times. (2024, August 22). India’s BFSI sector to see significant employment surge in H1 FY25. Retrieved from Economic Times BFSI
  • Times of India. (2025, May 17). 80K KGBV students to be trained in financial literacy. Retrieved from Times of India

 

Dr. Shubhangi Chaturvedi,
Senior AM, NISM

Careers, Entrepreneurship & Growth with a PGDM in Securities Markets

Posted on by Auburn Solutions

Your Gateway to Financial Leadership: Careers, Entrepreneurship & Growth with a PGDM in Securities Markets

In a world increasingly driven by financial intelligence, the demand for skilled professionals in securities markets has never been higher. The PGDM (Securities Markets) offered by the National Institute of Securities Markets (NISM) is not just a qualification it is your gateway to a rewarding, fast-paced, and impactful career. PGDM (SM) is an AICTE approved two-year Post-Graduate Diploma Programme in Management, where the students get exposure to varied subjects and verticals of securities markets including Economics, Financial Statement Analysis, Corporate Finance, Portfolio Management, Equity Valuation, Fixed Income Securities, and Derivatives & Risk Management, Investment Banking, Mutual Funds, and Wealth Management, benchmarked with the best and contemporary texts. Post Graduate Diploma in Management (Securities Markets) – PGDM (SM)

Why Choose PGDM (SM)?

NISM, established by SEBI, offers an AICTE-approved, two-year full-time PGDM (SM) that integrates finance, economics, analytics, law, equity markets, portfolio management, investment banking and FinTech with a deep specialization in securities markets. The program is designed not just to prepare you for jobs—but to transform you into a future-ready professional with leadership capabilities.

Career Opportunities After PGDM (SM):

  • Investment Banker: Work with top firms advising on mergers, acquisitions, and fundraising.
  • Equity Analyst: Decode stock market trends and guide investors toward profitable decisions.
  • Risk Manager: Analyze and mitigate financial risks for organizations.
  • Portfolio Manager: Design and manage investment portfolios for institutions or HNIs.
  • Compliance Officer: Ensure firms follow regulatory frameworks and maintain financial integrity.
  • Financial Planner & Wealth Manager: Help individuals and businesses achieve financial goals.

With recruiters ranging from top banks to asset management companies and brokerages, the program opens doors across the securities ecosystem.

Entrepreneurial Edge: Build Your Own Financial Venture

The PGDM (SM) doesn’t just train job seekers—it nurtures financial entrepreneurs. With deep dives into investment banking, fintech applications, compliance, and alternative investments, graduates can build ventures in:

  • FinTech innovations
  • Data Science & Quantitative Finance
  • Investment advisory strategies
  • Alternate Investment Funds & ESG investing
  • Legal and regulatory frameworks for launching ventures

 

Entrepreneurial Pathways:

  • FinTech Founder: Launch apps in algorithmic trading, robo-advisory, or personal finance management.
  • Independent Financial Advisor: Set up a consultancy for retail or institutional clients.
  • Securities Market Educator: Use your expertise to create educational platforms or YouTube channels on finance.
  • Analytics & Research Firm Owner: Provide outsourced services in equity research or credit analysis.

Paired with leadership lectures, startup-focused workshops, and a strong alumni network, the program helps incubate your ideas into reality. The program also includes embedded NISM certifications that allow graduates to legally operate in India’s regulated advisory ecosystem—making it easier to set up shop as an independent consultant or RIA.

Growth Outlook: Why This Field is Built for the Future

The global financial landscape is evolving—and fast. With the rise of AI, ESG investing, and cross-border capital flows, there’s an urgent need for professionals who not only understand the market but can also navigate and lead change. With retail investor participation at an all-time high, expanding mutual fund AUM, and rapid digitization, the country needs more experts who can advise, manage, and innovate.

Why the Growth Potential is Massive:

  • India’s capital market is expanding rapidly with retail participation at record highs and increased digitization.
  • Global integration means Indian professionals are now in demand across Asia, the Middle East, and beyond.
  • Emerging domains like compliance, green finance, and impact investing are redefining the financial playbook.

 

Growth Trajectories:

  • Climb the corporate ladder in global investment firms
  • Pursue international certifications like CFA, FRM, or CAIA alongside PGDM
  • Transition into regulatory, policy, or consultancy roles
  • Move into academia or research with the strong analytical foundation of the program

With its integrated certifications, hands-on SMART lab training, and international benchmarking, the PGDM (SM) from NISM isn’t just preparing you for today—it’s preparing you for the next decade of finance.

For Admission and enquires

Admissions Now Open!

To apply or learn more, visit: https://www.nism.ac.in/long-term-programs/post-graduate-diploma-in-management-securities-markets-pgdm-sm/

For queries, contact: pgdm@nism.ac.in

Author : Dr. Kapil Shrimal,

Associate Professor, CCB-1

 

LL.M. in Investment & Securities Law: Your Ticket to the Financial Markets

Posted on by Auburn Solutions

BACKGROUND

The Indian Securities Market has evolved significantly, transforming from informal trading practices into a sophisticated, regulated ecosystem. The Securities Contracts (Regulation) Act of 1956 was introduced to regulate stock exchanges and securities transactions, aiming to prevent undesirable practices. Despite these measures, challenges such as lack of transparency and investor protection persisted. The economic liberalization marked a turning point. The Securities and Exchange Board of India (SEBI) was established in 1988 and granted statutory powers in 1992 under the SEBI Act. SEBI’s mandate includes safeguarding investor interests, promoting fair practices, and regulating the securities market.

As the securities market continues to evolve, the demand for specialized legal professionals has grown, particularly in key areas such as:

• Regulatory Compliance – Companies, Market Infrastructure Institutions and market intermediaries must navigate complex regulations, requiring legal expertise to ensure adherence to SEBI guidelines and other statutory requirements.

• Alternative Dispute Resolution – With the rise in market participants, securities-related disputes have become more common, necessitating legal intervention for resolution.

• Corporate Governance – Legal experts advise on governance practices, ensuring transparency and accountability in listed companies.

• Investor Protection – Robust legal frameworks are critical for safeguarding investor interests, particularly in cases of fraud or market manipulation.
This evolution has shaped the legal profession, creating a growing demand for expertise in securities law. The LL.M. (Investment and Securities Laws) program is a one-year specialized postgraduate course jointly offered by the National Institute of Securities Markets (NISM) and Maharashtra National Law University (MNLU), Mumbai. Designed to equip legal professionals and law graduates with expertise in corporate law, securities regulation, and financial market operations, the program is a full-time residential course structured into three trimesters.

Launched in 2020, the program has seen its alumni successfully placed across the legal fraternity. After a brief hiatus, we are excited to relaunch the LL.M. in Investment and Securities Law, offering legal professionals a gateway to promising careers in securities markets. This remains one of the country’s leading LL.M. program, tailored to the dynamic legal landscape of India’s financial markets.

PROGRAM OVERVIEW

This program brings together academic excellence and regulatory expertise. The curriculum integrates law, finance and compliance, equipping graduates for careers in securities regulation, financial markets, legal practice, compliance, and academia.

Key Program Features:

• Core Subjects – Securities Law, Investment Law, Banking and Insurance Laws, Insolvency and Bankruptcy law, Corporate Governance, Compliance & Enforcement.
• Practical Orientation – Case studies, legal drafting, regulatory simulations, and a research-intensive dissertation.
• Expert Faculty –Regular Faculties of NISM and MNLU, Mumbai, Industry professionals, legal experts, and market regulators (including SEBI).
• State-of-the-Art Campus – The program is conducted at NISM’s Patalganga campus, featuring modern classrooms, a SMART Lab for hands-on training, and residential facilities. Located an hour’s drive from Navi Mumbai, the campus offers an ideal environment for focused academic pursuits.
Career Pathways for LL.M. Graduates
Graduates of this program are well-positioned for roles in:
• Securities Market Infrastructure Institutions & Intermediaries
• Banking & Financial Institutions
• Corporate Legal Advisory
• Regulatory Bodies (SEBI, RBI, CCI, PFRDA)
• Law Firms Specializing in Securities Law
• Academia & Research

NISM’s strong industry connections enhance placement opportunities for students.

Growth potential for Legal Field

This intensive one-year program covers critical areas such as the Securities Contracts (Regulation) Act, SEBI Act, Depositories Act, and over 40 SEBI regulations. It also includes corporate law, derivatives, foreign investments, competition law, banking & insurance, and insolvency law.

The curriculum prepares legal experts to navigate the complexities of India’s financial markets, with a practical orientation that includes insights from regulators, legal professionals, and industry experts. The LL.M. program provides a competitive edge, combining deep legal expertise with an understanding of securities markets, ensuring that graduates remain at the forefront of legal, regulatory, and technological advancements in financial services.

A Vibrant Alumni Network

With a growing and accomplished alumni base, graduates of the LL.M. program have secured prestigious roles in top financial institutions, regulatory bodies, law firms, banks, and market intermediaries. Some actively practice in courts, while others manage compliance roles in organizations, with a few pursuing careers in teaching and research.

This vibrant alumni network plays a crucial role in mentoring new students, providing guidance on career pathways, industry expectations, and professional networking opportunities.

For Admission and enquires

Admissions Now Open!

To apply or learn more, visit: https://www.nism.ac.in/long-term-programs/ll-m-investments-and-securities-law/queries

For queries, contact: llm@nism.ac.in

Author: Rachana Baid,

Dean (Academics), CCB-1

FinTech Education: A Strategic Edge in India’s Evolving Financial Market

Posted on by Auburn Solutions

India’s FinTech sector is among the fastest-growing in the world, with a market value crossing billions and expanding at an unprecedented pace. Technologies like AI, blockchain, data analytics, and mobile-first platforms are redefining how financial services are delivered and consumed. In this context, FinTech education is becoming an essential differentiator for professionals and students alike.

The Indian securities market, regulated by the Securities and Exchange Board of India (SEBI), is at the forefront of this transformation. In recent years, digital innovation has significantly increased retail participation, especially through app-based investment platforms that simplify access to stock markets and financial instruments. These platforms have empowered a new generation of investors from across the country, contributing to a more inclusive and dynamic market. As this tech-driven ecosystem continues to grow, there is rising demand for professionals who can combine financial expertise with technological fluency. FinTech certification programs are emerging as a valuable response to this demand. They equip learners with critical skills in areas such as algorithmic trading, robo-advisory systems, blockchain applications, RegTech, digital compliance, and cybersecurity.

A well-structured FinTech program, especially one contextualized to Indian markets and regulations, provides not just theoretical insights but also practical exposure. Participants learn about SEBI’s evolving regulatory frameworks, digital KYC and AML procedures, emerging financial products, and the backend architecture of modern financial systems. Hands-on training using industry tools, real-world case studies, and capstone projects ensure that learning remains application-focused and relevant. For entrepreneurs, such education offers clarity on product design, market infrastructure, and compliance, helping them build innovative yet responsible FinTech solutions. Understanding how to balance user experience, data security, and regulatory mandates is key to launching scalable and sustainable ventures in today’s ecosystem.

As India advances toward a digital-first financial future, with rapid adoption of technologies like UPI, account aggregators, and AI in finance, acquiring FinTech skills is no longer optional. It is a strategic investment one that can shape careers, inspire innovation, and strengthen the financial ecosystem. Whether you are looking to upgrade your skills, transition into a new role, or launch a FinTech venture, FinTech education offers the roadmap to relevance and impact in a changing financial world.

Ms. Rupali Sathe

Unlocking the Power of Data Science in Securities Markets

Posted on by Auburn Solutions

In today’s digital era, data is the new currency and now here is this more evident than in the financial and securities markets. Every tick, trade, and transaction generate valuable data that can be harnessed to make smarter investment decisions, detect anomalies, and predict market trends. This is where Data Science steps in as a game-changer.

The Rise of Data Science in Finance

Data Science combines statistical methods, machine learning, and domain expertise to extract meaningful insights from complex datasets. In the context of securities markets, it plays a critical role in areas like:

  • Algorithmic Trading – Building models that automatically execute trades based on historical and real-time data.
  • Risk Management – Predicting and mitigating financial risk using predictive analytics.
  • Fraud Detection – Identifying suspicious transaction patterns using anomaly detection models.
  • Sentiment Analysis – Analysing financial news and social media to understand market sentiment.

With these applications, data science is no longer a “nice-to-have” skill it’s becoming a necessity for financial professionals, analysts, and traders alike.

 Why It Matters for Securities Markets

Securities markets are dynamic and highly data-driven. Traditional analysis tools are no longer sufficient to handle the volume, velocity, and variety of financial data. Data science helps cut through the noise, offering actionable insights that are both fast and reliable.

From forecasting stock prices to evaluating credit risk, the integration of data science improves accuracy, efficiency, and decision-making capabilities in the capital markets ecosystem.

The NISM Approach

At the National Institute of Securities Markets (NISM)—an educational initiative established by the Securities and Exchange Board of India (SEBI), we recognize the growing need for data-driven expertise in the financial domain. Through our Certificate Program in Data Science (Basic), we provide participants with a strong foundation in:

  • Programming tools like Python and R
  • Data visualization using Tableau and Power BI
  • Statistical analysis, machine learning, and real-time simulation
  • Applications tailored specifically to securities markets

Whether you’re a finance professional, student, or tech enthusiast, this program helps bridge the gap between theoretical concepts and real-world applications.

As the financial world continues to evolve, data literacy will be a critical differentiator. Those who can read, analyse, and act on data will shape the future of investing.

Now is the time to equip yourself with the tools and knowledge to thrive in this data-driven economy.

Ready to dive into the world of financial analytics? Explore our Certificate Program in Data Science and take the first step toward a smarter financial future.

Ms. Rupali Sathe

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