The National Institute of Financial Management (NIFM) was set up in 1993 as a training institution for officers recruited by the Union Public Service Commission (UPSC) through the annual Civil Service Examinations and allocated to the various services responsible for managing senior and top management posts dealing with accounts and finance in the Government of India. NIFM was to develop as a Centre of Excellencein the areas of Financial Management and related disciplines, not only in India but also in Asia. In order to ensure that NIFM enjoys a greater degree of flexibility and autonomy than the departmental academies that existed at that time for officers training, it was decided that the Institute would be a legal entity known as ‘Society’. Such societies are legally independent entities authorized to frame their own rules and regulations. This structure makes available greater autonomy in both academic and administration matters to the Institute, facilitating quick decision making in response to changing perceptions of desired goals and objectives.
The Finance Minister is the President of the Society. This has ensured a very close linkage with Government. For administrative purposes, there is a Governing Board chaired by the Secretary (Expenditure). The Director appointed by the Appointments Committee of the Union Cabinet is responsible for the administration and academic programmes of the Institute. It will thus be seen that the Institute has close links and direct access to Government of India. The Institute recruits its Faculty either by deputation from civil services or by selection from the best in the academic field. The Institute therefore has a distinct advantage of a mix of faculty from academic as well as Government sector. The Institute adheres to norms prescribed by the All India Council for Technical Education (AICTE) with respect of faculty qualifications & strength.
Currently, the Institute runs five long-term programmes approved by AICTE -Professional Training Course of one year for newly recruited probationers of Accounting services called Diploma in Public Financial Management; a one year Diploma Course in Government Financial Management; a two-year Post Graduate Diploma in Management (Financial Management) programme for officers of the Central Government, the State Governments, Public Sector Undertakings and other organizations under Government duly recognized as MBA equivalent by AIU and NBA accredited; and a one-year Post Graduate Diploma in Management (Financial Markets) to produce competent researchers, teachers and Consultants. In addition, NIFM also conducts a one year Weekend Post Graduate Executive Programme in Financial Markets; and various short term programmefor Central Government, State Government, PSUs, Autonomous Bodies. Officers from different foreign countries also participate in the said programmes. NIFM also provides consultancy services to various Departments and organizations of the Government of India, State Government, PSUs, Autonomous Bodies, Universities and Foreign countries.
The Institute has executed consultancy projects for various Ministries and Departments of Government of India. The Institute publishes bi-annual Journal and Newsletter on monthly basis.
NIFM has established collaborations with several National and International Institutions. The Institute has implemented e-office, bio-metric attendance, CCTV, Security Surveillance and Video Conferencing Systems and tele lectures system. It is a matter of great pride that the NIFM has by now emerged as a “Centre of Excellence” in training, education, research and consultancy in the area of Financial Management both within and outside India.
For further information please visit http://www.nifm.ac.in
