About Post Graduate Certificate in Securities Markets
The Indian growth story has cast important implications on the capital market, which has grown sharply with respect to several parameters ranging from number of stock exchanges, other intermediaries and listed stocks to trading volumes, turnover, market instruments and investor population. The unprecedented growth indicates that the securities markets would have a huge demand for professionals every year. However, the roles in this area call for specialized knowledge and skills. There is, therefore, the need to build a resource base of skilled professionals for the securities market.
ICICI Bank has partnered with National Institute of Securities Markets (NISM) to launch Post Graduate Certificate in Securities Markets (PGCSM). The programme aims to create professionals such as Treasury dealers, Fund Managers, Analysts, Institutional Sales Professionals, and Investment Advisors in the securities markets. This partnership is part of ICICI Group’s strategy to capacitise for growth.
Programme Details
The Post Graduate Certificate in Securities Markets(PGCSM) is a one year programme with NISM, an institute established by SEBI, the market regulator. This specialized and integrated programme focuses on providing conceptual grounding, skill building and industry exposure.
The one year programme takes places at the Patalganga campus of NISM. The Programme is designed with the view to provide the participants with the optimum blend of theory and practice. The course structure is as follows:
Term 1/2/3 (9 months) – Classroom training (at NISM)
Term 4 (3 months) – Internship at ICICI Group
The programme curriculum is aligned with the needs of the industry. The unique design of the programme focuses on providing a high degree of industry exposure by academic and functional experts from the BFSI sector.
Pedagogy
This one-year full-time Post Graduate Certificate in Securities Markets (PGCSM) is a unique opportunity for career aspirants in the securities markets to obtain in-depth understanding, both theoretical and practical, from an institute established by the securities markets regulator, Securities and Exchange Board of India (SEBI). Within NISM, School for Securities Education (SSE) has been mandated with the task of imparting in-classroom education at the post-graduate level.
ICICI Bank has partnered with NISM to jointly offer One-year PGCSM which aims to create professionals such as Treasury dealers, Fund Managers, Analysts, Institutional Sales Professionals, and Investment Advisors in the securities markets as per the requirements of the ICICI Bank. This partnership is part of ICICI Group’s strategy to capacitise for growth.
The Programme is residential to support the academic rigor and encourage peer learning through a myriad of group activities. On completion of PGCSM, the participants would have developed capability to design solutions that meet specific requirements in the securities markets.
Each of the above-mentioned fields is fully represented in the proposed programme, with a balance between relevance and rigor. Based on SSE’s prior experience, but also after infusion of fresh thinking, and requirements from ICICI Bank the architecture of the PGCSM Programme has been conceived. Each course is benchmarked with the best-in-class textbook (recommended text) to arrive at the chosen content.
Trimester wise Allocation of Courses
| Trimester – I: Concepts (October 2022 – January 2023) | |||
| Course Code | Name of the Course | No. of Hours | Course Credits |
|---|---|---|---|
| 101 | Economics for Securities Markets (ESM) | 30 | 3.0 |
| 102 | Quantitative Applications in Securities Markets (QASM) | 30 | 3.0 |
| 103 | Financial Reporting and Analysis (FRA) | 30 | 3.0 |
| 104 | Financial Institutions & Markets (FIM) | 30 | 3.0 |
| 105 | Banking and Financial Services (BSF) | 30 | 3.0 |
| 106-A | Excel Skills for Management (ESM) | 15 | 1.5 |
| 106-B | Smart Lab Trading (SLT) – I | 15 | 1.5 |
| Total Credits | 180 | 18 | |
| Trimester – II: Applications (January – April 2023) | |||
| Course Code | Name of the Course | No. of Hours | Course Credits |
|---|---|---|---|
| 201 | Equity Analysis & Valuation (EAV) | 30 | 3.0 |
| 202 | Corporate Finance (CF) | 30 | 3.0 |
| 203 | Fixed Income Securities (FIS) | 30 | 3.0 |
| 204-A | Investment Banking (IB) | 15 | 1.5 |
| 204-B | Smart Lab Trading (SLT) – II | 15 | 1.5 |
| 205 | Derivatives & Risk Management (DRM) – I | 30 | 3.0 |
| 206 | Securities Market Regulations (SMR) | 30 | 3.0 |
| Total Credits | 180 | 18 | |
| Trimester – III: Advanced Applications (April – July 2023) | |||
| Course Code | Name of the Course | No. of Hours | Course Credits |
|---|---|---|---|
| 301 | Derivatives & Risk Management (DRM) – II | 30 | 3.0 |
| 302 | Treasury Management (TM) | 30 | 3.0 |
| 303-A | Portfolio Management (PM) | 15 | 1.5 |
| 303-B | Alternate Investment Funds (PE&VC) | 15 | 1.5 |
| 304 | Forex Markets and International Finance (FM&IF) | 30 | 3.0 |
| 305-A | Mutual Funds (MF) | 15 | 1.5 |
| 305-B | ESG and Responsible Investing (ERI) | 15 | 1.5 |
| 306-A | Financial Modelling (FM) | 15 | 1.5 |
| 306-B | Smart Lab Trading (SLT) – III | 15 | 1.5 |
| Total Teaching Hours/Credits | 180 | 18 | |
| Trimester – IV Internship Project (July – September 2023) | |||
| Course Code | Name of the Course | No. of Hours | Course Credits |
|---|---|---|---|
| 401 | Internship Project | – | 6.0 |
| 402 | Professional Certifications (Off Classroom) | – | 6.0 |
| Total Credits | 12 | ||
Embedded NISM Certification Exams for PGCSM Programme
Following are mandatory certifications required to be completed by all students during the course as mentioned below:
| List of Certification Exams to be completed during the programme | |
|---|---|
| 1. | NISM-Series-VIII: Equity Derivatives |
| 2. | NISM Series-XV: Research Analyst |
| 3. | NISM-Series-X-A: Investment Adviser (Level 1) |
| 4. | NISM Series I: Currency Derivatives |
| 5. | NISM Series IV: Interest Rate Derivatives |
Important points to be noted:
• As identified above, passing all five certification exams is mandatory for all students to get the PGCSM degree.
Eligibility Criteria
1. Age -Participants should not exceed 30 years of age (as on July 1, 2023).
2. Educational Qualifications –
– Graduate in any discipline (minimum 55% in graduation).
– 12th and 10th – (minimum of 60%) [Additional – Should have studied mathematics at the intermediate level].
3. Working professionals who are CAs / Engineers / Graduates in any discipline(s).
4. Work Experience – Minimum of 3 years (Full time experience).
5. Professional Experience – Preferable work experience in corporate finance, treasury or investment verticals in organizations.
Selection Process
Participants will be shortlisted on merit and will be invited for the selection process.
Shortlisted participants will have to go through the below mentioned selection stages:
1. Entrance test -The entrance test aims at measuring the aptitude of the participants through verbal ability, numerical ability and logical reasoning.
2. Group discussion stage– Participants clearing the aptitude test will be invited for case based group discussion. The group discussions are mainly conducted to judge participants on their analytical thinking, approach adapted to business situations and the ability to break down complex problems to arrive at solutions.
3. Psychometric Profiling / Personal Interview – Applicant clearing GD stage will be eligible for the Personal Interview Stage.
–Psychometric Profiling – This is a questionnaire based psychometric tool that indicates the typical or preferred behavior of individuals in work settings. Participants are required to complete the profiler before they appear for the interview. This profiler gives us a better understanding of preferred behavior of the participant and is not used for elimination of participants.
–Personal Interview – Shortlisted applicants will go through the personal interview round. This is the final step in the selection process.
“Admissions will also be subject to fulfilling eligibility norms and other criteria of National Institute of Securities Markets.”
Course Fees
To pursue the Post Graduate Certificate in Securities Markets, the interested participants will have to invest ₹ 4 Lacs plus applicable GST which the students have an option of either availing an education loan from ICICI Bank or of self-funding the course fee.
If you are selected for the PGCSM programme you would be required to deposit ₹ 10,000/- towards admission security deposit along with submitting your acceptance to join. The procedure for this will be explained in your Invitation Letter. This amount will be refunded to you on completion of 90 days of the programme at the University. However, if you do not join the programme after confirmation or leave the programme within 90 days of joining, this amount will be forfeited.
Stipend
During the 9 months classroom-training period the participants will be paid a stipend of ₹ 10,000 per month, to cover the incidental expenses.
During the 3 months internship phase with ICICI Bank, the participants will be paid a stipend of ₹ 50,000 per month to cover the expenses incurred.
Frequently Asked Questions
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Dr. Rachana Baid
Professor, Dean (Academics) & HoD - Centre for Capacity Building-1
Dr. Rachana Baid
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Name: Dr. Rachana Baid Designation: Professor, Dean (Academics) & HoD - Centre for Capacity Building-1 Email: rachana.baid@nism.ac.in Dr. Rachana Baid is Professor at National Institute of Securities Markets. She has been teaching, consulting, and training in financial markets since 1996. She has been a visiting faculty with XLRI Jamshedpur, S.P. Jain Global School of Management, Mumbai, Singapore and Dubai. Earlier she has taught courses at IIM-Indore, NMIMs Mumbai, and few other management schools. She has worked with Indian Institute of Capital Markets (IICM) for 9 years from 2001 to 2010. At IICM she has conducted more than 200 workshops and training sessions for the professionals in the Indian capital market as well as for the participants from other countries. She has conducted training sessions for the officers of IAS, IRS, and CBI as well as fund managers and senior bankers from the private sector banks and mutual funds.
She has been associated with consultancy assignments for clients in the public sector & private sector. She was the member of a team constituted by BankWorld Inc, Washington, DC as a local capital market expert to assess the United States Agency for International Development (USAID) assistance to Securities and Exchange Board of India (SEBI) and its future technical assistance needs. She has worked on assignments for the government of India in Investor Education & Protection. She has been involved in consultancy/advisory assignments for UTI mutual fund and the Association of Mutual Funds in India. She was part of the secretariat to assist the panel for National Award for Excellence in Corporate Governance 2001.
She has done Ph.D. in finance (2001) and Masters in Commerce (1995) from Osmania University
She has about a dozen research papers to her credit in leading journals.
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Dr. Jinesh Panchali
Professor - Centre for Capacity Building
Dr. Jinesh Panchali
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Name: Dr. Jinesh Panchali Designation: Professor - Centre for Capacity Building Email: Jinesh.panchali@nism.ac.in Dr. Jinesh has more than 30 years of experience in academics, consulting, and academic administration.
Jinesh is MBA with specialisation in Finance, Ph.D. in Management from Faculty of Management Studies (1994), The M.S. University of Baroda, and a CMA from Institute of Cost Accountants of India.
Before joining NISM, he managed an Advisory firm, Arham Advisors (2016-2021). It has undertaken assignments in domain of M&A, corporate valuation, Management Information Systems, etc.
He has served Indian Institute of Capital Markets, (IICM) (now merged with National Institute of Securities Markets (NISM), for more than a decade including serving as Dean (1995-2007). He has also served as Senior Vice President at Financial Technologies Group, and as Head of its Knowledge Management subsidiary (2007-2014).
He has published in area of corporate governance, ownership and performance, and M&As. He has taught full courses in area of Finance and Strategy, like, M&A, corporate finance, corporate valuation, and corporate restructuring at various IIMs and institutions of national repute.
He has worked on assignments with various Ministries of Government of India and its committees. He has conducted executive education programmes and consultancy assignments for domestic and global capital market regulators, in area of governance, valuation, venture capital, securities markets, and knowledge management frameworks.
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Dr. Dhiraj Jain
Professor - Centre for Capacity Building
Dr. Dhiraj Jain
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Name: Dr. Dhiraj Jain Designation: Professor - Centre for Capacity Building Email: dhiraj.jain@nism.ac.in Dr. Dhiraj Jain is a Ph. D in Management and a Fellow of the Insurance Institute of India. He has a corporate experience of 10 years and an academic experience spanning nearly two decades. His areas of interest include Quantitative Techniques, Business Statistics, Investment & Portfolio Management, Mutual Funds & Financial Derivatives. He has been a Corporate trainer for Equity markets and Mutual Funds for various Financial Institutions, Mutual Funds and Broking Houses and others. He has taken various sessions on Statistics, Research Methodology, Security Analysis and Portfolio Management and Financial Derivatives for management professionals at Wipro, Infosys, Tata Motors, Citius Tech and the like. He is an avid researcher and has a number of research papers, case studies and publications to his credit. His book Marketing Techniques for Financial Inclusion and Development is also indexed in the Scopus database. He has presented papers in various National and International conferences and had also received the best paper award in many of them. He has been a Ph. D guide for the past 8 years. 5 students have completed their Ph. D under his guidance.
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Dr. Rajesh Kumar
Professor - Centre for Capacity Building-1
Dr. Rajesh Kumar
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Name: Dr. Rajesh Kumar Designation: Professor - Centre for Capacity Building-1 Email: rajesh.kumar@nism.ac.in Contact: 91-2192668412 Dr. Rajesh Kumar, Professor
Dr. Rajesh Kumar is a skilled and qualified teacher of law with more than twenty-two years of experience in the field of law. After completing his LL.B. Degree from the Campus Law Centre, University of Delhi in 2001, he enrolled as an advocate with the Bar Council of Delhi and practiced mainly in Civil, Writ, Commercial, and Criminal matters before the High Court of Delhi and District courts of Delhi. Subsequently, he completed his LL.M. from the University of Delhi, cleared the U.G.C. NET Examination, and started his teaching career in 2005. He taught corporate and investment laws at various law colleges and universities starting from IMS Unison Law School, Dehradun and ICFAI Law School, Dehradun, VIPS (affiliated with G.G.S.I.P. University, Delhi), Amity Law School, Delhi (affiliated with G.G.S.I.P. University, Delhi) and National Law University, Ranchi. Before joining this institute as an Associate Professor in February 2018, he was working as Assistant Dean of NLU, Ranchi. He was promoted to Professor in October 2023. During his teaching career of more than 18 years, he held various administrative responsibilities including the positions of Chief Proctor, Controller of Examination, and Assistant Registrar. He completed his Ph.D. in securities law in the year 2012 from the University of Delhi. He has written many articles and four books on different subjects, including his books on securities law (ISBN No- 978365983044, Satyam Law International, Delhi, 2015) and Competition Law (ISBN NO -9789382823520, Satyam Law International, Delhi, 2017). His areas of expertise include Corporate Law, Securities Law, Corporate Finance, Competition Law, Mergers and Acquisitions, Banking and Insurance, and International Investment Law. He has also participated in various conferences and seminars organized by various institutions and has also been a speaker in many such conferences and seminars. His teaching interest lies in various subjects and areas related to Securities Laws and regulations, Competition laws, corporate laws, Banking and Insurance, mergers and Acquisitions, and International Investment Laws. He teaches in various academic programs and courses conducted by NISM. Apart from teaching, he is actively involved in organizing training programs for the officers of SEBI, government officers, and the securities market regulator of the foreign jurisdiction. He is also engaged in developing Policy papers on various topics related to the financial markets.
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Dr. Kapil Shrimal
Associate Professor – Centre for Capacity Building-1
Dr. Kapil Shrimal
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Name: Dr. Kapil Shrimal Designation: Associate Professor – Centre for Capacity Building-1 Email: kapil.shrimal@nism.ac.in Contact: +91-9978938182 / 02192- 668356 Dr. Kapil Shrimal is Associate Professor at National Institute of Securities Markets; he is having more than 13 years of experience of academics and 1-year experience of corporate. He has started his career with ICICI Prudential LIC and worked with Institutes like Prestige Institute of Management and Research, Indore, Symbiosis University of Applied Science Indore, Marwadi University Rajkot, etc. His last assignment was with PIMR, Indore.
His main area of teaching and research is Financial Planning, Portfolio Management, Derivatives, Financial Modelling, Financial Management, etc. He has conducted many Investment Awareness Program (IAP’s) on behalf of SEBI, NSE and ICAI India.
Dr. Shrimal has received Best Faculty award by Dainik Bhaskar in the year 2012. He has also received Best PhD Thesis award by Jaipuria Institute on Management Indore in the year 2018. He has presented and published research papers in International and National reputes and published one book. Some of his research papers got Best Research Paper awards in International Conferences.
He is into the editorial board and reviewer member of International Journal of Accounting and Financial Management Research. He is also associated with various Universities as a member of Board of Studies, Academic Council and PhD examiner.
Dr. Shrimal has done his PhD in Management (Finance) form Mohanlal Sukhadia University, Udaipur. He has also cleared UGC-NET and RPSC-SET in Management in the year 2012. Has done his MBA (Finance) and BBA from Devi Ahiliya University, Indore He has cleared many NISM certificates, NCFM modules and other certificate courses.
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Dr. Jatin Trivedi
Associate Professor - Centre for Capacity Building-1
Dr. Jatin Trivedi
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Name: Dr. Jatin Trivedi Designation: Associate Professor - Centre for Capacity Building-1 Email: jatin.trivedi@nism.ac.in Dr Jatin Trivedi is an Associate Professor at National Institute of Securities Markets. Before joining back NISM, he has worked as Nodal Officer for Queen Marry University of London, UK, and also Nodal Officer for Presidio Graduate School (Seattle and San Francisco – United States Campuses) as its program with Amity University. He has earned “Finance Guru” title and several awards for excellence in teaching the core courses for MBA graduates. MBA Finance and Global MBA programs during his teaching career for over two decades.
He holds Bachelor of Commerce in accounting & auditing, Bachelor of Education in Commerce (Position holder - specialization), Master of Commerce in accounting and financial management (Position holder - specialization), Master of Business Administrations in finance, G.I.T.W with Industrial Mathematics (First class first), DCA (First class first), Bachelor of Education in Commerce (Position holder in specialization) and Ph.D in Finance.
His research area includes Capital markets, International Relations, Corporate Finance, Financial Economics, and International Finance. He has been part of editorial board and invited reviewers in many reputed journals such as Journal of Sustainable Finance and Investment, Journal of Perspective Financing and Regional Development, International Journal of Asian Social Science, Journal of Applied Finance, Academic Research Journal of Finance etc.
Many of his research work that has been published with reputed journals which indexed in ABDC category, Scopus, Web of Science, SCI such as Journal of Business Economics and Management, Scientific Annals of Economics and Business, Annals of Economic Review, Mathematical Applications in Science and Mechanics, International Journal of Economics and Statistics etc. along with national and international authors. He has presented his research work to many national and international conferences which also includes several prestigious European and American conferences including Harvard Conferences, Boston, USA.
He holds membership with Indian Accounting Association, Finance & Accounting Professionals London, Charted Financial Analysts Network, New York, USA, etc. At NISM, he teaches in the areas of Accounting, Finance and Banking to full time post-graduate students in Securities Markets (PGDM – SM) and PGCSM.
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Dr. Mohd Meraj Inamdar
Assistant Professor -Centre for Capacity Building-2
Dr. Mohd Meraj Inamdar
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Name: Dr. Mohd Meraj Inamdar Designation: Assistant Professor -Centre for Capacity Building-2 Email: Meraj.inamdar@nism.ac.in Contact: +91-2192-270140 / +91 8275325356 Dr. Inamdar is a faculty member at NISM. Prior to NISM, he worked for Indian Institute of Capital Markets, Institute of Cost Accountants of India chapter’s and IIT-Bombay CSE.
He has 11 years of experience in teaching & research and two years of corporate experience.
Dr. Inamdar has several publications in indexed journals and has won two best research paper awards in international conferences. He has conducted a various programs for international delegates as well as training programs for SEBI, RBI, IRS, IES officers and market intermediaries.
At NISM, Dr. Inamdar teaches ESG finance, quantitative methods and data analyses, derivatives options trading strategies (through algo trading simulator) and technical analysis. He is a member of the organising committee of NISM conferences. He has completed M.com, MBA (Finance), CWA (Final), and PhD in the field of ESG finance from Mumbai University
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Placement at ICICI Bank
On successful completion of the course participants will be absorbed at ICICI Bank at a Manager Band I level (or in group companies at the equivalent grade).
The starting remuneration on Cost to Company basis for participants will be in the range of ₹ 11-12 lacs [per annum].
On successful completion of the PGCSM Programme, the participant will be required to work for ICICI Bank or its Group Companies for a minimum period of 3 years. If for any reason the participant chooses to leave the services of ICICI Bank within 3 years of joining, he /she will be required to reimburse ₹ 10 lacs, towards cost of education and stipends paid and the opportunity lost for the organization.
