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The National Institute of Securities Markets (NISM) intends to get recognition from AICTE (All India Council for Technical Education-the statutory body which recognises professional courses) according to U K Sinha, Chairman SEBI.
Addressing the media at the soon to be inaugurated 70-acre campus at Patalganga alongside the Mumbai Pune expressway, Sinha said “NISM runs five programmes which are of very high standard and going forward we intend to get recognition from AICTE for one of the flagship programmes and then we will be calling it also something equivalent to an MBA degree.”
NISM was created in 2005-06 post a budget announcement by the merger of UTI Institute of Securities markets and the Indian Institute of Capital Markets.
The move sought to build capacity in the securities markets by certifying intermediaries, spreading financial literacy, provide education on securities markets to students, enhance the quality of corporate governance in India Inc, serving as a staff college for SEBI besides undertaking research.
SEBI has invested Rs 408.5 crore while exchanges have put Rs 40 crore for carrying out the activities at NISM according to Sinha.
The present capacity of 1000 residential students will go up to 5000 in the next phase, Sinha added.
Sinha observed that SEBI and its intermediaries had a huge repository of data on the securities markets and planned to use it for research purposes.
“We are going to utilise the data for research in a manner which is beneficial during policy interventions going forward, “Sinha said.
SEBI will sign a confidentiality agreement with those who want to do research be it individuals, research institutions or universities using the data residing with the regulator, However, the user would have to accede to SEBI’s conditions from the point of view of market integrity.
SEBI /NISM want our data to be properly utilised so that the decisions that are taken in this country are of good quality.
On whether NISM would offer PhD / post doctoral research besides planning additional campuses for NISM elsewhere in the country going forward, Sinha said “If I telescope SEBI 10 years from now, all that you are saying are going to happen.
When I said that we are going to encourage lot research activity, it should in the normal course lead to having post doctoral/ doctoral programmes that is our ambition and intention. Let us create those systems, it will happen but not on day one.”
NISM is also going to start a certification course for commodities market intermediaries, Sinha said.
Come Diwali, the institution is likely to start fully functioning out of its Patalganga campus said Sandip Ghose Director NISM adding that NISM was a favourite among intermediaries for on-boarding employees besides being frequented by b-schools and engineering students for using the financial simulation labs during their 6- week summer training .
The author is recently at NISM Patalganga
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