NATIONAL INSTITUTE OF SECURITIES MARKETS (NISM)NISM is a public trust established by the Securities and Exchange Boardof India (SEBI), the regulator of securities markets in India. It is anautonomous body governed by a Board of Governors. NISM envisions acatalytic 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
WELCOME Dear Recruiter, Welcome to the talent pool of NISM, as a part of the Campus Placement process - 2012-13. The School for Securities Education (SSE) at NISM is entrusted with the task of providing in-classroom education at the Professional or Masters level in the field of securities markets. Our Post Graduate Programme in Securities Markets (PGPSM) is a highly specialized, rigorous and intensive 1-year fulltime programme. Since inception, the design and delivery processes of this programme have maintained a fine balance of concepts and practice. Over the past 3 years, we have perfected the design and delivery mechanisms, as can be seen from the sterling on-the-job performance of our alumni. Two notable aspects that make PGPSM students unique are worthy of recall:Sunder Ram Korivi Process: Students are selected from an all-India pool through a written test and interview. As educators, the curriculum is Dean,School for Securities under constant review to keep it current and comprehensive. Our faculty members are engaged in research and Education (SSE) conferences, and bring in specialized inputs to the classroom. Students learn from a wide range of modes, viz. cases, exercises, role-plays, simulations, databases (Bloomberg, Prowess), seminars and conferences, book reviews, finance- related film reviews etc. Inputs are spread across three terms, covering Concepts, Applications, Advanced Applications and Industry-Integration. Our location at Navi Mumbai provides proximity to the intellectual capital from Mumbai - the financial capital. Product: A PGPSM students is equipped to be a complete securities market professional. They are positioned to take up a wide range of responsibilities, such as Analysts, Investment Managers, Risk Managers, Operational Managers etc. Organizations that will find our students suitable include Analytics firms, Rating Agencies, Stock-Brokers, Fund Managers, Investment Banks, Banks etc. Students selected by recruiters have an opportunity to familiarize themselves with their work by April or earlier, if required. A project dissertation is to be submitted before June 1 each year. This crucial document serves as a link between academics and practice. We welcome you once again to our campus recruitment process and look forward to a longstanding relationship between our organizations.
BOARD OF GOVERNORSAs on September 7, 2012Mr. U. K. Sinha Dr. Pritam SinghChairman, SEBI (Chairman, Board of Governors) Director General, International Management Institute (IMI),Mr. Rajeev Kumar Agarwal New DelhiWhole Time Member, SEBI Prof. R. VaidyanathanMr. Prashant Saran Professor of FinanceWhole Time Member, SEBI Indian Institute of Management, BangaloreDr. Thomas Mathew Dr. Sanjay KallapurJoint Secretary (Capital Markets), Senior - Associate Dean, Faculty and Research,Department of Economic Affairs, Indian School of Business,Ministry of Finance, New Delhi HyderabadMr. P K. Nagpal . Dr. Ajay ShahExecutive Director-SEBI and Director-NISM Professor, National Institute of Public Finance and Policy,Mr. Uday Kotak New DelhiVice Chairman & Managing Director, Kotak MahindraBank Ltd. Mr. P K. Nagpal . Director, NISM (Chairman, Academic CouncilMs. Chanda KochharManaging Director & Chief Executive Officer, ICICI BankMr. R. M. MallaChairman & Managing Director, IDBI Bank Ltd.Dr. Anil KhandelwalFormer Chairman of Bank of BarodaMr. M. S. Sahoo Mr. G. P Garg .Advocate Registrar, NISM
ABOUT NISMIn his budget speech of February 2005, the Honourable Union Finance VISIONMinister announced that the Securities and Exchange Board of India (SEBI) To be a hub of knowledge initiatives for playing a strategic role in qualitywould establish an institute to undertake securities markets education and enhancement and capacity building for transforming the securities marketsresearch. In pursuance of this mandate, SEBI established the National in India and the Asia-Pacific region.Institute of Securities Markets (NISM) in Mumbai as a public trust under theBombay Public Trust Act, 1950.The mission for NISM is to add to marketquality through educational and research initiatives that would support, MISSIONenable and expedite an entire gamut of high quality knowledge services in the To engage in capacity building among stakeholders in the securities marketssecurities industry. A market for securities education and research is through financial literacy, professional education, certification, enhancinggradually emerging in India and abroad – partly due to the buoyancy in the governance standards and fostering policy research.securities industry and partly because of the regulatory efforts to createminimum competency levels for securities industry professionals. NISM INSTITUTES PHILOSOPHYintends to play a catalytic role in addressing these needs. NISMs activities are dedicated towards enhancing the quality of participation in securities markets. This involves development of knowledge and skill base Given the uniqueness of India and other developing markets, such of all stakeholders. The Institutes philosophy embodies the spirit of intervention would follow the twin approaches of accessing and commitment to these objectives. disseminating the relevant existing knowledge and creating new knowledge that is more specific and appropriate for developing The activities at NISM are carried out through its Six Schools. markets. With no other institute in the Asian region that seeks These include; to address as wide a canvas, NISM stands uniquely poised to become an institution that would not only serve the School for Investor Education and Financial Literacy (SIEFL) securities markets in India but could also assume a School for Certification of Intermediaries (SCI) pan-Asian purpose. School for Securities Information and Research (SSIR) School for Regulatory Studies and Supervision (SRSS) School for Corporate Governance (SCG) School for Securities Education (SSE)
ABOUT THE SCHOOL FOR SECURITIESEDUCATION (SSE)NISM articulates and implements its mission of improving marketquality through its six schools, each having a specific domain presencewithin the securities markets. The role of the School for SecuritiesEducation (SSE) is to provide education for preparing competentprofessionals who will serve the securities markets.The last few years have seen a demand for securities professionals whoare equipped with a wider repertoire of knowledge and skills. Thisdemand has been spurred by the challenges posed by the growingIndian economy and the expanding securities market. With the Indianeconomy growing consistently at over 5%, many Indian companies arescaling up their activities in India and abroad. This has necessitated agreater need for corporations to access the securities markets. Theoverall economic growth has also witnessed many Indian corporationsattracting domestic and foreign investments through listings in Indiaand overseas.As the Indian economy grows and as Indian investors seek toparticipate more in the capital markets, the Indian stock exchanges,mutual funds, merchant bankers, analysts and stock brokers wouldplay an even more vital role in meeting the enhanced expectations ofvarious stakeholders.With its proximity to policy makers and professionals in the securitiesmarkets community, SSE is uniquely positioned to provide educationalprogrammes that will create new age securities markets professionals.Considering the capacity building needs of securities industry, NISM,under its School for Securities Education (SSE) offers three long-duration programmes as under:
BOUQUET OF PROGRAMMES1) POST GRADUATE PROGRAMME IN SECURITIES MARKETS (PGPSM)PGPSM is a one-year full-time post-graduate programme. This flagship programmewas launched in 2010-11 and currently, the third batch is underway. Students of firstbatch are working in the securities industry in various entities including credit ratingagencies, banks, brokerages, intermediaries and analytic firms.2) POST GRADUATE CERTIFICATE IN SECURITIES MARKETS (PGCSM)NISM and ICICI have entered into an arrangement for offering an exclusive programmeone-year full-time programme titled “Post Graduate Certificate in SecuritiesMarkets”, at NISM, as a joint initiative to attract bright and experienced talent for takingup a career in banking and financial services with ICICI Bank and its associatecompanies and to transform them into skilled professionals in these fields. It is a pre-placed batch and students, after successfully completing the programme, will bejoining ICICI Group at a compensation level of `12.50 lacs. The first batch commencedin July 2011 and students joined ICICI Group in July 2012. Their performance on the jobhas been rated as excellent.3) CERTIFICATE IN FINANCIAL ENGINEERING AND RISK MANAGEMENT (CFERM)CFERM is a nine-month week-end programme for working executives for equippingskills and nuances of advanced financial engineering aspects. It is a highly quantitative-oriented programme aimed at grooming risk management professionals. NISMlaunched this programme in 2009-10, and the third batch of CFERM is currentlyunderway. CFERM is offered in two formats - weekend as well as on a residential,modular basis.4) CERTIFICATE IN SECURITIES LAW (CSL)CSL is a six-month week-end programme for working executives and students of otherpost-graduate and professional programmes in Finance or Law. It equips participantsto understand and apply securities laws and regulations in compliance, investmentbanking and other functions in the securities markets.
POST GRADUATE PROGRAMME IN SECURITIES MARKETS (PGPSM)For students interested in pursuing a career in securities markets, the PGPSM is an extremely unique opportunity to obtain first-handknowledge, both theoretical and practical, from an institute established by SEBI, the market regulator. The faculty, consisting ofacademicians and practitioners, has the capability to deliver a high-quality programme to the students looking for knowledge andskill-sets as a solid foundation.Informal estimates indicate that the securities markets would require about 32,000 professionals every year. The required skill-setscould be grouped as follows: (1) Fund Management, Analysis and Dealings (2) Sales, Product Management and Brand Management(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, ProductDesigners, Operations Managers, Compliance Officers, Risk Management Officers, Investment Bankers, and Investment Advisors inthe securities markets.ABOUT POST GRADUATE PROGRAMME 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 PGPSMBy 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 marketsTARGET AUDIENCEThe target audience includes:• Graduates and post-graduates aspiring for careers in securities markets• Executives seeking careers or career switches related to securities markets
PROGRAMME ARCHITECTUREDivided 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 Term I Term II Term III Term IV Conceptual Phase Application Phase Advanced Application Phase Industry Interaction Phase Economics Fixed Income Securities Global Financial Markets Internship Securities Analysis & Regulation - Theory & Mathematics for Finance Project Dissertation Valuation Practice Econometrics & Time Mergers, Acquisitions & Statistics for Finance Seminars Series Analysis Corporate Restructuring Financial Accounting & Portfolio Management Financial Modelling Reporting Financial Institutions & Derivatives & Risk Corporate Governance Markets Management Corporate Finance Mutual Funds Special TopicsIn addition to the above, students gain exposure through several workshops on contemporary topics such as IFRS, XBRL, SimulatedTrading, 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 approximately30 hours of classroom inputs.In Term IV, commencing from April 16, students are required to undertake an internship project with an organization where they areplaced as executives/interns in the securities industry. The Project Dissertation which carries 2 credits, it is to be submitted beforeMay 31, the concluding day of Term IV. Students are free to join their respective organizations on or after April 16 each year.
LEARNING ENVIRONMENTThe PGPSM programme is strengthened by sound delivery by expert faculty, together with multiple pedagogy. The faculty-team iscomprised of the following: MA, PhD (Mumbai), FCA, AICWA, Fixed Income Securities, Financial Sunder Ram Korivi AIII Markets, Financial Reporting (Rank Holder), Financial Reporting, Financial Analysis, S Rachappa PhD (Osmania) Forensic Accounting, Life Insurance Statistics, Econometrics & Time Series, Kiran Kumar MA, PhD (IISc) Financial Engineering Poonam Mehra MSc (Econ), PhD (IGIDR) Economics, Regulation, Corporate Finance (Math), MPhil (Econ), Quantitative Finance, Financial Engineering, Akhlaque Ahmad Pursuing PhD (Derivatives) Financial Modelling Kavitha Ranganathan Behaviourial Finance Pursuing PhD (Behavioral Finance) Shobana Balasubramaniam Msc (Economics), IGIDR Economics (Rank Holder) Rachana Baid (Adjunct) Financial Markets, Portfolio Theory PhD (Osmania)NISM also draws upon the cream of academia and industry for providing cutting-edge inputs in the securities markets domain.The learning environment is further stimulated by use of technology such as Databases (Bloomberg, Prowess), ApplicationSoftware (Matlab, SAS, R) and Simulated Trading with streaming data. Students are provided with internationally benchmarkedtextbooks. Additionally, the library is exclusively dedicated towards finance, securities markets and related areas with an up-to-datecollection of books and scientific journals.
VISITING FACULTY M. Venkateshwarlu MCom, PhD Full time faculty Member at NITIE Corporate Finance, Valuation MA (Econ), Dept of Economics and Statistics, Shripad Wagle Statistics Pursuing PhD (Regulation) Tata Services Ltd MA (Econ), LLB, MBA (Finance), Surendra Sundararajan Full time faculty at M S University of Baroda Derivatives and Risk Management PhD Ramesh Thimmaraya , PGCM, FRM (GARP) IREVNA Statistics, Risk Management CA, ICWA, CFA (USA), B. Venkatesh Founder Director of Navera Consulting Mutual Funds, Behaviourial Finance FRM (GARP) Chief Representative of KBC Bank (Belgian Bank) Functional Aspect of Banking Sameer Chinchanikar MBA (IIM Lucknow) Board Member of KBC Union AMC Poonam Tandon MBA (XLRI), PhD Senior Fund Manager, IndiaFirst Life Insurance Fixed Income Securities Senior Vice President, Compliance and Legal at Corporate Laws, B. Ranganathan FCS, FICWA Edelweiss Securities Markets Regulation, Mergers & Acquisitions
GUEST LECTURES UNDER THE “LEADERSHIP SERIES”NISM Bhavans location on the outskirts of Mumbai enables access tosome of the finest professionals in Mumbai, from various segments of thefinancial markets. In order to provide our students with the best blend oftheory and practice, and to build industry-academia partnerships, it isproposed to invite some of the senior-most executives and finestprofessionals to deliver guest lectures under the title “Leadership Series”.During the Term (Term II), NISM has obtained confirmations fromspeakers who have agreed to deliver lectures on their subject of expertisefrom end-November onwards.Some of the speakers NISM include:Mr. Sudipto Roy, CEO, Principal Retirement SolutionsMr. Arup Mukherjee, Vice President, National Stock ExchangeMr. Shobhit Gupta, Head-Fixed Income, INGMr. Rajan Ghotghalkar, Country-Head, Principal Retirement SolutionsMr. Pankaj Kapoor, Director, Liases ForasMr. Gopi Suvanam, Director - FinstreamMr. V Shanmugham, Chief Economist, MCX-SXMr. Vikas Khemani, President, EdelweissMr. Alex Varghese, Head-Derivatives, CLSAMr. Aditya Agarwal, MD & CEO, Morningstar IndiaMr. Sundaresan Nagnath, CEO, DSP BlackrockMr. Sridhar Srinivasan, Director, Deutsche BankMr. Atul Joshi, CEO, India RatingsIt is hoped that valuable insights will be gained by the students through theLeadership Series, for blending in with the conceptual inputs.
STUDENT PERFORMANCE AND EVALUATION CRITERIAPGPSM is a rigorous programme pegged at the level of post graduation,leading to the award of PGPSM. The programme is specially designed toraise the professional standards of students. The PGPSM will be awardedon the basis of the students performance in the following components:• 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.
Batch Profile 2012-2013BATCH AT A GLANCE WORK EXPERIENCE Freshers Experienced (0-12 Months) Experienced (13-24 Months) Experienced (25-36 Months) Experienced (More than 36 Months) SECTOR WISE COMPOSITION BFSI IT/ITES Manufacturing and Construction Others EDUCATION BACKGROUND Graduates (Commerce & Science) Engineers Post Graduate (Business) Post Graduate (Banking, Finance)
PGSPM: 2012-13 - BATCH PROFILE ABHINAV GANESHAN ANUJ GOYAL B.E. (Instrumentation) MBA (Finance) TATA Consulting Engineers (15 months) B.Tech (Electronics & Communication) Webtutour (12 months) Steel Hub India Ltd (36 months) ABHISHEK SAHU AVINASH NADAKUDITY B.Tech. (Chemical Engineering) B.Tech (Civil Engineering) Capgemini India Pvt. Ltd. (10 months) L&T Construction (10 months) BHUMIKA GAUR B.Sc. (Biotechnology) ADITYA IYER Goldman Sachs Services India Pvt. Ltd. B.Com (Accounting and Finance) (48 months) ANKUR CHAUDHARI B.E (Information Technology Engineering) JAY SHAH Accenture Services Pvt. Ltd. (15 months) B.E (Information Technology) Mphasis - An HP Company (8 months) Infosys Ltd. (22 months)
PGSPM: 2012-13 - BATCH PROFILE KAUSHAL PATEL PGDB (Banking) B.Com. (Advanced Accounting) SIDDHARTH ICICI Bank Ltd (43 months) B. Tech. (Computer Science and Engineering) ICICI Prudential Life Insurance (7 months) Infosys Ltd (10 months) NANDITA RAMAKRISHNA M.S. Finance (Investment Banking) MAHESH NAIR B.Sc (Statistics Hons.) B.Tech (Mechanical Engineering) Mercados Energy Markets India Private Ltd. Angel Broking Ltd. (6 months) (19 months) M-inent (12 months) Capital IQ (12 months) MANOJ UPRETI MCM (Computer Science) B.Com. (Accounting) Annik Technology Services pvt Ltd (23 months) PARVEZ MEHTA WNS Global Services pvt Ltd (40 months) B. Com. (Business Administration) MONA AGARWAL MBA (Marketing) PRASAD NARVEKAR BBA B. Sc (Mathematics) HSBC Bank (63 months) ICICI Securities Ltd. (43 months) Citibank (6 months) Bar Code India (53 months)
PGSPM: 2012-13 - BATCH PROFILE SHAM CHANDAK RAHUL KOLI B.E. (Electronics & Telecommunication Engineering) B.E. (Mechanical Engineering) Proficient Commodities Pvt. Ltd. (18 months) Larsen and Toubro Ltd. (48 months) Infosys Technologies Ltd. (7 months) RAJANI A M. Com. (Corporate Accounting & Financial Management) B. Com. (Cost & Works Accounting) SHASHANK GUPTA Modern College of Commerce & B. Com. (Hons.) Financial Management Science, Pune (12 months) PricewaterhouseCoopers Pvt. Ltd. (24 months) SHYAM NAYMA RAJAVAGEESHWARAN R PGDM (MBA) Marketing B.E. (Computer Science and Engineering) B.Sc. (Computer Science) Karur Vysya Bank (23 months) ICICI Lombard GIC Ltd. (27 months) RITU AGRAWAL PGDIB (International Business) B.A. (Economics) SWATI KHERA State Bank of India (42 months) B. Com. (Hons.) Financial Management
PGSPM: 2012-13 - BATCH PROFILE YUKTI JAIN B.Com. (Hons.) Financial Management PLACEMENTS Our alumni have given a sterling performance in the following organisations: •AK Capital •Asit C Mehta Intermediaries •Bank of America-Merill Lynch •Capgemini •CARE •Credit Suisse •E-Clerx •ICICI Bank •ICRA Management Consulting •IRIS Business Solutions •JMN Investment Research •Nomura •Port Tariff Authority •SWIFT •Syntel •TCS
PLACEMENT PROCESSPlacement Schedule: Invitation to recruiters for Pre-placement talks November 15, 2012 Scheduling of Pre-placement interactions November 21, 2012 onwards Short-listing of CVs December 1, 2012 onwards Campus selection process and interviews January 9, 2013 onwards Offer letters 15 days from date of final interview Acceptances 15 days from date of offer• Above placement schedule is indicative only and it can be tailored to suit the requirement of the companies.• Companies are welcome to visit our campus and interact with students for pre-placements throughout the year.• Placement activities and processes are conducted in collaboration between a Students Placement Committee and a Council of Faculty MembersWhom to contact for placements?Please contact or write to:• Mr. Rajshekhar Torgal, Deputy Manager, Programme Office, NISM• Phone: 022 66735125 (Direct) and 022 66735100-105 (Board)• Email : email@example.comStudent Representatives: Kaushal Patel (8976246426), Bhumika Gaur (8286272358)
CONFERENCES ORGANISED BY NISMMORNINGSTAR INVESTMENT CONFERENCE 2012Taking Stock of Global EconomyIn US, Housing expansion and policy dependency along with deleveraging of housing loan will hold key to global economy. InEurope, there is concern of Sovereign crises. Also, In Europe one man’s debt is another man’s asset and all currencies tiedtogether. Debt is rising at alarming level in OECD nations. Emerging markets like India and China will contribute 2/3 of futuregrowth. China has a problem of credit bubbles as after 2008-09, productivity in China is driven by debt. India has a CurrentAccount and Fiscal Deficit problem. Also, for India, oil prices remain a huge concern. India needs long-term FDI andinvestment in the manufacturing sector.Panel: Global Investing Looking Beyond IndiaThere is a need to invest globally, as it will help in diversification. The route for that can be international fund offerings throughfeeder funds. Also, investing can be through ETF in global markets.Panel: Active or Passive? The debate in Indian contextThere is always some Alpha in India, so a primary strategy of passive investing wont work. Cost is a great concern for anactive fund. If passive funds grow rapidly, then new indices will be introduced to cover broader markets.Panel: Stock Markets 2013-Outlook and Factors to Watch ForFor investing, apply a Bottom-Up approach to relatively small sectors and Top-Down approach to relatively grown sectors.Look out for companies with sustainable businesses. Balance Sheet analysis is very important for second line of a companysvaluation.A Ringside View of Indian Fund IndustryThe fund industry needs to change its culture from sales driven to stewardship driven. There is a need to lower their overheadcost, so that funds can give better performance. Passive investing is good. The industry must move from a commission-based model to fee-based business.Panel: Stock Market-Where to InvestInformation is coming very fast which is deluging investment. A return of 18% CAGR can be expected from Indian StockMarkets in the long run. For the India growth story to be intact, fall in commodity prices is necessary.
INDIA SECURITIZATION SUMMIT 2012Inaugural SessionShri U K Sinha, Chairman-SEBI, delivered the inaugural address. In US,issuances have declined to one-sixth of the levels seen in the pre-crisisperiod, whereas in Europe, issuances have come down by 30%, ascompared to the pre-crises period. On the subject of taxation of issuerSPVs, he mentioned that removal of the uncertainty of taxation is neededrequired to facilitate an environment for securitization. TESTIMONIALS OF RECRUITERS Two students of NISM, Bipul Sinha and Abhishek PriydarshiPanel I: Taxation of Issuer SPVs started at JMN last week. Keeping in mind your advice weIf the SPV entity is a trust, by definition, it exists to serve the investors. have increased their salary by 1 lakh to be in line with market.Hence, the SPV by itself is not a taxable entity, as the cash flows are taxable This increase was effective from their start date. I look forwardin the hands of the investor. Keeping this point in mind, taxation of the SPV to hiring more employees from your institution in the years towould be tantamount to double-taxation. Globally, SPVs are not taxed, but come.the beneficiaries are taxed, especially in Pass-through structures. S.V. (Bala) Balachander, MBA, CFA, CPAPanel II: Guidelines on Securitization Chairman & Managing DirectorThere is an in-built moral hazard problem in the originate-to-distribute JMN Investments Research (P) Ltd.model. This has led to guidelines on Minimum Holding Period (MHP),Minimum Retention Ratio (MRR) issued by RBI. RBI expects banks to Very impressed with the calibre of candidates;monitor loan portfolios. Most of the transactions in India are Asset Backed we are quite keen to continue the relationshipSecuritizations (ABS), structured as simple Pass-through-Certificates(PTCs). In securitization, the moral hazard of originate to distribute Nosheen Khan,coincides with the difficulty in monitoring, pools of (say) 1000 borrowers. VP Marketing - Markit, LondonPanel III: Market Making Ms. Pallavi Jain of 1st Batchof PGPSM joined us. She is fastSecuritized instruments could also be traded on the exchange platform by learner, intelligent and picking up her job well.bringing more transactions into the public domain. There is also the needto attract retail investors towards debt instruments, and securitized paper Rajesh Pawarcould be one such option, going by the popularity of debt IPOs in recent Director, I-peritustimes. Retail investors could be attracted by the inflation-adjusted returnsthat securitized debt instruments may offer.
PGPSM 2012 PLACEMENTS 2013POST GRADUATE PROGRAMME IN SECURITIES MARKETS
NATIONAL INSTITUTE OF SECURITIES MARKETSPlot No. 82, NISM Bhavan, Sector-17 Vashi, Navi Mumbai - 400 703Phone: Mr Rajshekhar Torgal,+91-22-66735125Board: +91-22-66735100-05Fax: +91-22-66755710www.nism.ac.in