Soon, Prime Minister Narendra Modi will be inaugurating a new institution of SEBI, known as NISM (National Institute of Securities Markets). It is an educational initiative that has been started by SEBI. The institute will be opened at Patalganga, near Mumbai and will be inaugurated on 24 December 2016.
SEBI, (Securities and Exchange Board of India), is a body that regulates the securities market in the country. The body was established in the year 1992.
As of now, NISM has the campus at Vashi, Navi Mumbai. The current infrastructure is not sufficient and does not fulfil the requirements, and hence the need of another institute. This institute was established in the year 2006 by SEBI. The institute also has six schools that work towards the security market. The name of these six schools is School for Investor Education and Financial Literacy, School for Certification of Intermediaries, School for Securities Information and Research, School for Regulatory Studies and Supervision, School for Corporate Governance and School for Securities Education. The institute aims at delivering educational initiatives so that the quality of security market can be enhanced. A number of certification exams are also conducted by the institute. Every year, around 1.5 lakh candidates appear for these exams and till now, around 5 lakh have been certified.
A large amount of money has been invested by SEBI. They have invested an amount of Rs. 400 crore for the institute. The new campus will accommodate 5,000 students and is spread across an area of 70 acres. But, as of now, they are focusing on only 1,000 students that will be a part of the programme offered by the institute. The campus is ready now, and the inauguration ceremony will take place on 24th December 2016.
It has been noticed by SEBI that there is a lack of qualified securities market professionals in the country and hence this institute will fulfil the demands of the candidates because there is a lot of demand for security market professionals who have the right knowledge and are well informed. They are looking for such professionals who are also ready to adapt the changes made in the environment.
NISM is involved in capacity among stakeholders in the market. The institute will be doing this with the help of financial literacy, professional education, and certification.