Indian Institute of Finance The Institute A Centre of...

P R O S P E C T U S 1

Indian Institute of Finance

http://www.iif.edu

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nce Indian Institute of Finance (IIF) founded in 1987 as a non-

profit autonomous educational institution, to promote educationand research in finance, has made distinguished scholarlycontributions which have been acclaimed nationally andinternationally.

IIF is unique and the only organization of its kind in India.

MISSIONTo be a centre of excellence, a base for scholarship, high quality

professional education, research, training and consultancy.To contribute to the process of nation building by developing

necessary human resources with highly specialised financial skillsand through research.

IIF PHILOSOPHYIIF holds highest respect for law, believes in

self regulation and market recognition.To foster creativity, innovativeness, analytical ability through

total personality development, with an appropriate blend of Indianethos and Western philosophy of management

To foster a sense of hard work, commitment, devotion, disciplineand nationalism.

To foster management practice through experiential learningwith an appropriate blend of theory & practice.

To help reap the fruits of first rate education and to meet thechallenges of exciting years that lie ahead.

IIF Proposed Buildings, G-Noida


IIF has pioneered the Business Finance education in India.

IIF has contributed in Human Resource Development througheducation. It's Alumni are holding senior positions in Government &Industry.

IIF research publications have tremendously contributed to thecause of nation building and quality of education and research.

IIF acts as a major think tank in the country. Its opinions andexpert comments often appear on AIR, Television and leadingnewspapers and magazines in India & International media.

IIF has launched a Project Management Division and Financial& Tax Consultancy division to provide its expert and professionalservices to the small and large business corporations.

IIF has contributed in developing an extensive course curriculum,Research Base, Conducive Academic Life, Excellent National andInternational Linkages and Distinguished Team of Faculty.

IIF has contributed in developing new models, theories and policyprescriptions on contemporary economic and financial issues ofrelevance: Capital budgeting decisions, Working capital management,Investment behaviour, Taxation, Management education, InternationalFinance, Capital Market Instruments & Mobilisation of resources.

IIF brings out one of the best refereed Quarterly Journal of Finance– Finance India, ranked at par with top international journals.

IIF has emphasised the need for the new direction to managementeducation through unique teaching methodology, research, publicationsand self regulation.

IIF has provided academic support to more than 100 institutionsor organisations in India and Abroad.

IIF has promoted research by instituting Best Doctoral ThesisAward, and a scheme for Emeritus Scientists.

IIF has assisted All India Council for Technical Education(AICTE) Ministry of HRD, Government of India in a number of wayssuch as developing report on Fee Fixation for undergraduateEngineering Studies; devising strategies to implement suggestionsmade by Swaminathan committee on mobilisation of additionalresources for technical education in the country; developing acomprehensive list of books and journals relevant for managementinstitutions.

CONTRIBUTIONS AND ACHIEVEMENTS

Prof. J.D. Agarwal with Mr. H.D. Deve Gowda,Former Prime Minister of India

(L to R) Mr. Chandra Shekhar, the then PrimeMinister of India and Prof. Agarwal

Prof. J.D. Agarwal with Dr. ManmohanSingh.

Prof. J.D. Agarwal with Shri Arjun Singh, thethen Union Minister of HRD, GOI.

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Professor Franco ModiglianiNobel LaureateMember Editorial Board, Finance India

Professor Merton H. Miller (1923 - 2000)Nobel LaureateMember Editorial Board, Finance India

Professor Robert C. MertonNobel LaureateMember Editorial Board, Finance India

SERVICE TO SOCEITY / NATIONIIF Faculty have written over 15 books; over 90 volumes of FinanceIndia; published more than 180 research papers and authored morethan 600 book reviews, 500 case studies and working papers. It haslectured in more than 700 MDPs and trained more than 10,000 seniorexecutives from government and industry; delivered more than 500Radio/TV talks/interviews on economic issues and organized/participated in more than 1500 seminars and conferences world over,besides suggesting policy prescriptions to various governments,agencies, financial institutions, banks and corporates from time totime on various subjects of relevance."Tax Incentives Highest in India : Study"

The Times of India, 16th February, 1988"New Model For Evaluating Projects"

Patriot, 2nd April 1988"New Model For Working Capital Management"

Financial Express, 24th September 1988"Cess Mooted to Finance Education"

Hindustan Times, 15th October, 1988"New Model For Evaluating Capital Projects"

Financial Express, 29th July, 1991"IIF For Taxing Rich Farmers"

National Herald, 23rd March, 1992"Exports To US Under-Priced, Imports Over-Priced"

The Hindustan Times, 16th October 1995"Capital Flight By Abnormal Trade Pricing"

The Economic Times, 11th January 1996"Study Estimates $4-11 B Capital Flight from India to US in 1994-95"

The Times of India, 30th January, 1997"Tax Sops to Industry Must Benefit Consumers"

Hindustan Times, 22nd February 1997"What Ails Industry"

The Economic Times, 26th June, 1997"Budget: Black Box (Time Change from 5 p.m. to 12:00 noon)"

The Economic Times, 26th May 1998"Experts Call For Cost - Based Tariffs in Core Sector"

National Business Standard, 22nd December, 1998"Steel : Are Bailouts Justified"

The Economic Times, 30th March 1999"India Likely to be Among Top 3 World Economies"

The Indian Express, 12th March, 2000"Experts Advocate Corporate Farming"

Haryana: The Sunday Tribune, 12th March, 2000"Need For A Uniform Code For Higher Education"

Hindustan Times, 28th November, 2003"US Major Hub for Money Laundering"

Deccan Herald, 21st January, 2004Forecast: "GDP Growth rate of 8% during 2005-2006 & Inflation between3-4% at Public lecture on Analysis of Union Budget 2005 on March 3,2005."

Finance India, Vol. XIX No. 1; March, 2005


ACCREDITATION AND LINKAGES

IIF has a very high market recognition.IIF has established linkages with more than 200 leading

professionals internationally from institutions like London School ofEconomics, London Business School, Harvard University, MIT, WhartonSchool, University of Chicago, IITs & IIMs and other institutions fromU.S.A., U.K, Germany, Sweden, Poland, Denmark, Switzerland,Portugal, Australia, Uzbekistan, Hungary several countries of Asiaand Africa including NOBEL LAUREATES.

IIF has signed Memorandum of Understanding (MOU) withthe following Institutions

The Digest, Pricewaterhouse LeeCoopers LLP, USAFlorida International University, USAInstitute of Economic Research, Hitotsubashi University, JAPANIBSS, London School of Economics and Political Science, UKUNCTAD- Research Network Link, SWITZERLANDLodz Technical University, Bielsko Biala, POLANDUSTOZ Republic Foundation, UZBEKISTANAkademia Ekonomiczna, Katowice, POLANDMinistry of Higher & Secondary Specialised Education, UZBEKISTANSchool of Banking & Finance(WSBiF), POLANDAlisher Navoiy nomidagi Samarqand davlat University, UZBEKISTANUniversity Uttra Malaysia, MALAYSIATashkent University Information Technology, UZBEKISTANGrenoble Ecole De Management, FRANCEFergana Polytechnic Institute, UZBEKISTANAcademy of Economic Studies, Bukaresti, ROMANIAOptions Information Group, PHILIPPINESMulti Commodities Exchange (MCX), INDIASzent Istvan University, HUNGARYSaint-Petersburg Academy of Management and Economics, RUSSIANorth-Western Academy of Public Administration (NWAPA) , RUSSIA

Linkages

(Left Corner) Prof. J.D. Agarwal with Prof.Chaire Van Ummerson, President, ClevelandState University, USA

(Right Corner) Prof. J.D. Agarwal beinghonoured by Prof. Peter Koves at SyracuseUniversity, USA

(Above) Prof. J.D. Agarwal signing MOU withProf. Andrew Wlochowicz at Lodz TechnicalUniversity, POLAND

(Below) Prof. J.D. Agarwal, Prof. Yamini Agarwaland Prof. Aman Agarwal being honouredby Prof. Vakhobov at TIFA, UZBEKISTAN

RECENT RATING has PLACED IIF as30th amongst 3546 Universities in Regional and Global Ranking of Indian Subcontinent Region(World Ranking 4385 of 13074 Universities) by Cybermetrics Lab (2007) CINDOC-CSIC (Madrid, Spain) Jan. 2008

A+ Category Business School in India by Business India 2006.THE Best NICHE Business School in Finance in India by Outlook September 2003, 2002.40TH Worldwide amongst 148 institutions by American Statistical Association in August 2002

based on ratings (Business & Economic Datalinks) in August 2002. Some of the other institution rated are IFC, JP Morgan,NBER, Journal of Finance, FRB at St. Louis, FRB at Chicago, MIT-Harvard Datalink, US Treasury, and others.

for joint research, exchange of faculty and students to promote academics and international understanding.IIF has appropriate linkages with industrial units and industry associations: FICCI, CII, PHDCCI,

ASSOCHAM, DMA, IACC & AIMA. IIF has linkages with thousands of officials & managers at top &middle level in private and public sector enterprises, banks, insurance companies, financial institutions andgovernment, who have participated in MDPs in which IIF participated as resource faculty or coordinated.

The institute provides faculty support on invitation to deliver lectures, address seminars or conductresearch activities. IIF has established indirect linkages with about 10,000 people to whom IIF Newsletteris sent for the last 17 years.


CHAIRMAN

Prof. J.D. Agarwal with Prof. Franco Modigliani, (NobelLaureate), MIT, USA

Dr. J.D.Agarwal, presently, Professor of Finance, is the founder Chairman & Director of Indian Institute of Finance& Chief Editor of Finance India. He is a leading economist and financial expert.

In the past he has taught at Shri Ram College of Commerce, (University of Delhi), Indian Institute of TechnologyDelhi, Ahmadu Bello Unversity, Nigeria and Cleveland StateUniversity, U.S.A.

He has written over 15 books (authored over 5500 pages), editedover 80 volumes of Finance India (edited more than 30000 pages),published more than 125 research papers, authored more than 32 bookreviews, 500 case studies and working papers. He has been supervisorof several Ph.Ds, M.Tech (systems & management) dissertations, MBA& M.Sc. (Finance) dissertations and research projects by seniorgovernment officials sponsored by GOI on study leave at IIF.

He has lectured in more than 500 MDPs and trained more than10,000 senior executives from government and industry; deliveredmore than 500 Radio /TV talks/interviews on economic issues. Hehas organized/participated in more than 800 seminars andconferences world over, either as a keynote speaker, chairman of thesessions or as a participant. He has also assisted more than 100Institutes/Universities/Organizations globally, as an expert.

His research, writings, speeches, talks and interviews on AIR and TV have had an important bearing on governmentpolicies including change in the budget timing from 5 pm to forenoon.

His students hold / have held ministerial positions inGovernment of India, State Govts., politics, judiciary, Bureaucracy,legal, media, accounting, economics, business and industry,World Bank and senior positions in academics as professors anddeans internationally.

He has contributed significantly to promote the field offinance in the last over three and a half decades through educationand research. One of his most important contributions is to foundthe prestigious Indian Institute of Finance in 1987, without thegovernment aid. The Institute has become a center of excellence anda base for scholarship in the last 23 years. IIF Library has over 55000volumes and more than 1000 technical journals. It is unique andsolely devoted to develop the field of financial economics. Thefinancial economics, which was relatively unknown, got a boostand attained a place of prominence shifting the focus of economicsfrom welfare orientation, state subsidies, high taxes, and controlsto financial economics, market orientation and wealth generation.

His another contribution is to start and develop a quarterly journal of Finance- Finance India at international levelto promote research in Finance. The journal started in 1987, is considered to be a leading journal of Finance and has beenrated third best worldwide by American Statistical Association (B & E Index). It has on its editorial board some of the mostprominent experts from all over the world including Nobel Laureates- Franco Modigliani, Merton H. Miller (late), RobertMerton, Robert Mundell and Douglass North. He has single handedlywith the support of the editorial board edited more than 93 volumes.Each issue is of about 400 pages.

Dr. Agarwal is an original thinker and has practical bias.Professor Agarwal’s research indicate that theories and techniquesof financial economics based on postulation of single objective giveerroneous and irrational results and have become outdated in thepresent era. He has developed several new models and theories in thefield of financial economics. His models have presented a newperspective to the theory of finance.

He has won several citations and awards and quoted widelyinternationally. He is on the editorial board of several internationaljournals. His current research interests are in the area of corporatefinance, investment, public finance & international finance.

A Man withMission & Vision

Prof. J.D. Agarwal with Prof. Paul Samuelson(Nobel Laureatte), Harvard University, USA

Prof. J.D. Agarwal with Prof. Amartya Sen (NobelLaureate), Harvard University, USA


RESEARCHIIF is intensively engaged in a number of research studies on

different aspects of finance, investment, financial services, managerialaccounting, taxation etc. to search empirically practical solutions toproblems faced by Indian industry: private sector, public sector,banks, FI and government. The results of such research studies aremade available through publications, research papers, reports andotherwise to the interested companies, executives, researchers andto the students of IIF with the sole objective of contribution anddissemination of knowledge.

The institute intends to undertake research on behalf ofsponsoring organisations - Government Departments, InternationalAgencies such as ILO, World Bank, UN, UNCTAD, ADB, Industry:private and public sector companies; banks and financial institutionsetc. in the area of finance.

IIF PUBLICATIONS1. Capital Budgeting Decisions under Risk & Uncertainty2. Tax Incentives & Investment Behaviour3. Capital Mirage4. Expenditure Control & Zero Base Budgeting5. Accounting for Financial Analysis6. Quantitative Techniques Vol. I7. Quantitative Techniques Vol. II8. Economics for Decision Making9. Organisation Behaviour10. International Finance11. Readings in Financial Management12. Working Capital Management13. Security Analysis14. Literature in Finance Vol. I : Corproate Finance15. Literature in Finance Vol. II : Accounting16. Literature in Finance Vol. III : Financial Systems

and Markets17. Literature in Finance Vol. IV : Specialised Finance18. Literature in Finance Vol. V : Management

IIF NEWSLETTERIIF publishes a monthly Newsletter giving news and views of

the Institute’s activities. It also reviews important current developmentsin the field of financial management and conducts discussion onvarious topics of contemporary relevance.

IIF Newsletter is circulated free of cost to all the IIF students,IIF Alums, CMDs of over 10,000 companies & banks, governmentofficials, academia: universities and institutions, subscribers of FinanceIndia and others who show interest in IIF Newsletter.

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European Parliament Member with Prof. AmanAgarwal appreciating Finance India

Prof. Aman Agarwal with Dr. Stefan Ingres,Governor Risk Bank, Sweden and Prof. HubertFromlet, Professor & Formar Chief Economist,Swedbaile, Sweden


FINANCE INDIA: The Quarterly Journal of Finance

www.financeindia.org

FI is the official publication of Indian Instituteof Finance. Each issue is of more than 400 pages. Ithas an exalted editorial board having some the mostprominent experts from around the worldincluding Nobel Laureates. Finance India is rankedat par with top international journals.

The research studies published in FI have beengiven coverage in national and international media. Theyhave been seriously considered, accepted and acted uponby the Government of India and policy-makinginstitutions. One of the studies on "Capital Flight"appeared as the Front Page "Lead" news in TheTimes of India (30th January 1997) and in The Hindustan Times (29thJanuary 1997) apart from a series of others, including TV and Radio.

FI is rated 3rd Worldwide among 79 finance journals/institutionsand also among 148 institutions (or finance, macro economics and labour& micro-economics by American Statistical Association (Business &Economic Datalinks) based on ratings for providing research work,abstracts and financial database.

The Journal is indexed / abstracted in Cabells Directory of PublishingOpportunities in Accounting, Economics & Finance 1997-98, InternationalBibliography of Social Sciences of the London School of Economics &Political Sciences, EconLit, JEL on CD, e-JEL, The Journal of EconomicLiterature, ISID Research Reference of Institute of Studies in IndustrialDevelopment, Gale Directory of Publication and Broadcast Media, EDIRC,FI-ICP, All India Index to Periodical Literature by Nexus Information ServicesCompany (NISC), ProQuest, British Library for Developmental Studies ofInstitute of Dev. Studies.

The journal provides scholars a major forum for inter & intra-disciplinary study ofvarious aspects of finance.The journal publishesArticles, Abstracts ofDoctoral Dissertations, Anextensive Bibliography,Book Reviews, AnnotatedListing, Contents ofCurrent Periodicals,Statistics on India & WorldEconomy, Announcementsof seminars & conferences,positions available inindustry & academics.

READERS WRITE ...."Thank you for sending me a copy of thelatest issue of FINANCE INDIA (Vol. XVINo. 2)"

PRESIDENT A. P. J. ABDUL KALAMRepublic of India, 16th September 2002

"I have read the journal with immenseinterest"

PRESIDENT K. R. NARAYANANRepublic of India, 12th December 1998

"I am very pleased to receive the interestingpublication and look forward to learninga great deal from the articles it contains"

PATRICIA HEWITT,MP, Treasury Chamber, United Kingdom,

16th February 1999

"Thank you for a copy of "Finance India",published by the Indian Institute of Finance.With Good wishes"

SONIA GANDHIPresident, All India Congress Committee,

5th March 2001

"Finance India contains a number ofscholarly and well-researched articles. Icongratulate you on this effort"

C. RANGARAJANGovernor of Andhra Pradesh, 26th October 2001

"I am sure it will be of considerable use to me"RUSI MODY

Chairman of Mobar, 14th May 1999

"It is very well-produced issue and containsrich and well researched reading material"

R. K. MISHRAChairman of Observer, 18th February 1997

"The journal is informative and useful"P. J. KURIEN, MP Lok Sabha, May 1997

"I find it very useful publication along withvarious economic data and tabulations"

D. N. PATODIAFormer President FICCI, 19th May 1997

"I have gone through some of the articlestherein and found them not only educativebut also highly informative. Of particularinterest to me was the use of mathematicaland statistical techniques by some authors"

S. CHKRABVARTHYMember, MRTP Commission, 16th May 1997

"I have taken a look at the first article whichdeals with the question of capital flight fromIndia; some reports about this article hadcome out in the press a shortwhile ago andwhich I had seen"

S. K. BIRLAPresident FICCI, 21st February 1997

Prof. J.D. Agarwal with Prof. Robert C. Merton, (NobelLaureate), Harvard University


Aman AgarwalIndian Institute of Finance & IIF Business School

Executive EditorAssociate Editors : Yamini Agarwal, Saurabh Agarwal, Assistant Editor : Deepak Bansal

J. D. AgarwalIndian Institute of Finance

Chief EditorU.S.A & Canada

Franco ModiglianiNobel LaureateMassachusetts Inst. of Technology

Douglass C. NorthNobel LaureateWashington University

Allan YoungSyracuse University

Anup AgarwalUniversity of Alabama

Arun J. PrakashFlorida International University

B. Espen EckboDartmouth College

Bala Kashi R. BalachandranNew York University

Ben L. KediaUniversity of Memphis

David A. WalkerGeorgetown University

Frederic S. MishkinColumbia University

Merton H. MillerNobel LaureateUniversity of Chicago

Robert C. MertonNobel LaureateHarvard University

Gershon N. MandelkarUniversity of Pittsburgh

Jagdish BhagwatiColumbia University

James A. GentryUniv. of Illinois at UrbanaChampaign

James R. WebbCleveland State University

James W. KolariTexas A&M University

Jerold L. ZimmermanUniversity of Rochester

John EnsmingerDelta Hedge Publications

Jonathan B. WelchNortheastern University

Robert A. MundellNobel LaureateColumbia University

James Joseph HeckmanNobel LaureateUniversity of Chicago

Lawrence A. GordonUniv. of Maryland at College

ParkLawrence Kryzanowski

Concordia University, CanadaMichael Adler

Columbia UniversityRaj Aggarwal

Kent State UniversityRene M. Stulz

Ohio State UniversitySanford J. Grossman

University of PennsylvaniaStanley R. Pliska

University of Illinois at ChicagoTheodore M. Barnhill

George Washington UniversityU.K

B.B. BhattacharyaJawahar Lal Nehru University

L.M. BholeIIT, Mumbai

B.L.BajpaiUniversity of Lucknow

L.N. DahiyaMaharishi Dayanand University

Sugan C. JainUniversity of Rajasthan

Krishna KumarIIM, Lucknow

A.L. NagarIndian Institute of Finance

I.M. PandeyUniversity of Delhi

Vadiraj V.R. PanchamukhiFormerly ICSSR, Delhi

R. VaidyanathanIIM, Bangalore

Madhu VijFMS, University of Delhi

Surendra S. YadavIIT, Delhi

Richard A. BrealeyLondon Business School

Ian CooperLondon Business School

Elroy DimsonLondon Business School

Mahendra RajThe Robert Gordon University

Michael J.P. SelhyWarwick University

Stephen SchaeferLondon Business School

BelgiumCharles P. Van Wymeersch

University of NamurCzech Republic

Jaroslava DurcakovaUniversity of Economics

DenmarkBjarne Astrup Jensen

Copenhegan Business SchoolFinland

Eva LiljeblomSwedish School of Eco. & Bus.Admn.

FranceBernard Belletante

Marseille Business SchoolJean Dermine

INSEADGeorges Pariente

ISC Paris

GermanyDieter Bender

Ruhr-Universitat BochumSiegfried Trautmann

Johannes Gutenberg-Universitt

HungaryJozsef Molnar

Szent Istvan UniversityItaly

Mario BaldassariUniversity of Rome

PolandUrszula Gros

Gornoslaska Wyzsza SzkolaHandlowaGrzegorz W. Kolodko

Leon Kozminski Academy ofEntrepreneurship & Mgt.

NetherlandThijs ten Raa

Tilburg UniversityPortugal

Manuel Jose Rocha ArmadaUniversity do Minho

RussiaEvgeny Solojentsev

Russian Acad. of Science (IPME)Sweden

Bertil NaslundStockholm School of Economics

Tomas BjoerkStockholm School of Economics

UzbekistanAlisher Vasikovich Vohobov

Tashkent Finance Institute

India


It is the Mind that makes the Body RichShakespeare

ACADEMIC INFRASTRUCTUREThe Institute is presently housed in a Five Storey building with Lecture Theatres fitted with

Audio Visual Aids and is located in North. Academic infrastructure comprises of latest ultra modernequipments and ample reference material on various topics providing a pure academic atmosphere toundertake serious studies and research based activities. IIF is in the process of developing ultramodern buildings on a plot of 7 acres with a project cost of Rs. 25 crores.

LIBRARYIIF Library is a reservoir of alarge collection of information,sources, resources and servicesorganised well for use of itsstudents, faculty, alumni,researchers and public.

IIF has well equippedlibrary with over 55000thoughtfully selected books onfinance, accounting, management, economics, taxation etc. The library has over 105 doctoral dissertations,subscribing over 900 Academic Professional journals & magazines, has over 5000 latest financial statementsof more than 550 private & public sector enterprises and financial institutions.

The library is enriched with government reports, reports of international agencies such as WorldBank, IMF, United Nations, ADB, WIDER, Stock Exchange Directory, Statistical Abstracts of differentIndian states, Newsletters, Projects Working Papers and large number of other publications. IIF libraryalso maintains a good record of finance related articles published in various national & internationalnewspapers and journals. IIF Library acts as depository library of various international institutions andagencies.

COMPUTER CENTREThe computer centre provides a centralized computing facility

to complement the teaching and research function of the Institute.Various software packages and graphic tools aremaintained to facilitate the general computingrequirements. IIF has developed a well equippedcomputer center having 60 Computers supportedby IBM Pentium III 200X and IBM Pentium II Netfinity 3000 based servers with multiple Pentium233 Mhz nodes & stand alone PCs with Multi MediaFacilities. Various software packages, financialpackages & graphical tools are maintained tofacilitate the general computing requirement.

Peripherals used at present are HP Laser Printers, CD-RW,HP 3p Scanjet, HP Deskjet Printers, Dot - Matrix Printers, mouse& high speed fax Modems.

IIF Computer Centre also offers Wi Fi Wireless Internet and E-Mail facilities to have an easy global access.

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FINANCIAL DATABASEIIF provides financial corporate information, statistics of Indian

and world macro economic & financial indicators. IIF is also developinga corporate financial statistics file of banks and major Indian companies.The file together with the stock exchange security prices file wouldbe available in due course for research into corporate finance.

PROJECT MANAGEMENT DIVISIONIIF launched the division in response to wide ranging enquiries

from Indian entrepreneurs, business houses and NRIs for provisionof consultancy regarding business project initiation, appraisal,monitoring and other areas of comprehensive financial management.The Institute’s project management division organises the above eitheron an assignment or on turnkey basis.

FINANCIAL & TAX CONSULTANCY DIVISIONIIF also undertakes consultancy assignments in the areas of finance

with the dual objectives of extending theoretical and academic conceptsin the practice of management of finance in organisations and forenriching its own academic programmes through cases and by gaininginsights into real life problems of organisations.

EMERITUS SCIENTISTSIIF offers scheme for retired/retiring social scientists of eminence

for appointment as “Emeritus Scientists” or “Senior Fellows” to promoteresearch in the area of finance and accounting. The objective of thescheme is to enable retired/retiring scientists to continue their scientificwork in the field of their specialization in finance and accountingwith a view to make use of their knowledge, wisdom and expertiseacquired by such professionals during their life time. The scheme isspecially designed because in a country like ours which is in direshortage of highly technical manpower, and large amount of resourcescannot be allocated to research to different spheres of research activitiesas required, we can not afford suchscientists to abandon their researchinterest, enthusiasm andcontinuing work for lack ofappropriate facilities afterretirement.

Scientists under this schemeare given grants in the form offellowships together withcontingency grants to pursueresearch.

(L to R) Dr. Abid Hussain, Former Ambassadorto USA and Prof. Aman Agarwal

Prof. Agarwal with Mr. L.K. Advani, the thenDeputy Prime Minister & Min. of Home Affairs

ISC, Paris Students under Exchange visitingIIF on Study Tour

Prof. J.D. Agarwal with Mrs. Shiela Dikshit, ChiefMinister, Govt. of NCTD

Prof. Aman Agarwal with Prof AndranikTangian, Han-Boeckler Foundation, Germanyvisit IIF


BEST DOCTORAL THESIS AWARDIIF has instituted the Best Doctoral Thesis Award in 1987 to be

given annually. The award under the scheme includes cash prizes, acommendation citation and a complementary subscription of FinanceIndia for one year. IIF may also undertake to publish the awardedthesis with the willingness of the author, provided no commercialpublisher is interested in publishing the same.

All thesis in the area of Finance, Accounting, Management,Economics, Commerce and Operations Research completed after

June 18, 1987 are eligible to enter the competition. The awards aregiven for the thesis completed on a year to year basis.

TRAININGIIF offers short term management development programmes,

to sharpen the skills in finance for middle and senior executives.

SEMINARS & CONFERENCESIIF conducts a number of workshops, seminars and conferences

designed to stimulate worthwhile discussion and understanding of theissues on different aspects of finance and to provide not only interactionamongst its own research staff and fellows, but also between thesegroups and the academic community and the public at large. The scopeof these meetings range from major international gatherings to localinformal discussion groups.

IIF also invites eminent speakers from government, industryand academia every week to speak on contemporary issues ofrelevance in the Eminent Speaker Lecture series.

IIF also orgranizes National & International conferencesindependently and as a part of collaboration with international partnerinstitutions & associations as strategic partners.

FOUNDATION DAY LECTUREIIF proposes to hold Foundation Day lecture on 19th September

every year by eminent professionals from diverse fields to speakon the relevant social and economic issues of importance in anendeavour to mark the occasion.

(L to R) Dr. Ashok V. Desai, Former Chief EconomicAdvisor, Ministery of Finance, GOI, Mr. ShankarN. Acharya, the then Chief Economic Advisor,MOF, GOI, Mr. N.D. Tiwari, MP Mr. YashwantSinha, Foreign Minister, GOI & Prof. J.D. Agarwal.

Prof. Agarwal with Dr. Suraj Bhan, H.E. thethen Governor, Himachal Pradesh

Prof. J.D. Agarwal addressing Scientific Councilat Tashkent Finance Institution, Uzbekistan

Prof. J.D. Agarwal shining of MOU at BarleyFinance Academy, Uzbekistan


EMINENT SPEAKERS AT IIF SINCE 1997The students run `Eminent Speaker Lecture Series’ by inviting leaders of business, industry & government toexpress their views on the major challenges facing business and industry today. Recent guest speakers include:

POLITICAL LEADERS & DIPLOMATSMr. Yashwant Sinha Formerly Foreign Minister, Govt. of IndiaMr. Ved Prakash Goel Formerly, Minister of Shipping, GOIMr. Ram Niwas Mirdha Former MP & Chairman, JPC Security ScamDr. Bhishma Narain Singh Former Governor of Assam, Meghalya, Sikim,

Arunachal Pradesh and Tamil Nadu; Ministerin Bihar; Cabinet Minster of Parliamentary Affairsand Urban Development

Dr. Yogendra K. Alagh MP, Former Member, Planning CommissionDr. Ratnakar Pandey Former MPDr. Abid Hussain Former Ambassador to USADr. Ibrahim R. Mavlanov Ambassodor, Republic of UzbekistanMr. Song Oh First Secretary, Embassy of Republic of KoreaDr. Caj. L. Soderlund Dy Sec. Gen., Nordic Council. FinlandMr. Jean-Joseph Bolliot Fin. Counsellor. Emb. of France

CIVIL SERVICES & ADMINISTRATORSDr. Ashok V. Desai Former Chief Economic Adviser, Govt. of IndiaMr. B.B. Pandit Principal Director, Commercial Audit & Member Secy,

Audit BoardDr. B.P. Mathur Former Chairman, Audit Board, CAGMr. Bhure Lal, IAS Secretary, Central Vigilance Commission, GOIDr. Dinesh Chandra, IAS Principal Resident Commissioner, Govt. of PunjabMr. G.B. Parida, IRS Commissioner of Income Tax, GOIMr. G.V.G. Krishnamurthy Former Election Commissioner, ECI, GOIDr. J.R. Arora Advisor, Deptt. of Bio-Technology, GOI.Ms. Janak Juneja, IAS Director, Technical Education, Govt. of DelhiMr. Joginder Singh, IPS Former Director, CBIMr. K.K. Vavahare, IRS Director, Dept. of Food Processing Industry, GOIMr. M.L. Sharma, IPS Joint Director, CBIMr. M.P. Gupta Former Addl. Secretary, Ministry of Finance, GOI.Mr. N. Vittal, IAS Central Vigilence Commissioner, Govt. of IndiaMr. P.M. Nair, IAS Joint Secretary, Ministry of Defence, GOI & Presently,

Secretary to the President of IndiaMr. P.P. Vora CMD, National Housing BankMr. R.S. Goel Director, Central Water Commission, GOIMr. R.S. Gupta, IPS IG, (Prison), Delhi & Presently Commissioner of Police, DelhiDr. S. Chakraborty, IAS Former Member, MRTP Commission.Prof. S.K. Khanna Former Chairman, AICTE.Mr. S.N. Bhargava, IRS Commissioner Income Tax, Govt. of IndiaMs. Somi Tandon Ministry of Defence, Govt. of IndiaMr. T.N. Pandey, IRS Former Chairman, Central Board of Direct TaxesMr. V. Suresh CMD, HUDCOMr. V.N. Kaila Chief Controller of Accounts and Financial Advisor,

Ministry of Urban Development, Govt. of IndiaMr. Vinay Shankar, IAS Former Secretary, Centre-State Council, Min. of Home

Affairs, GOI

Dr. Ibrahim Mavlonav, Ambassador, Republic ofUzbekistan adressing the Faculty Members at IIF.nhi ls nhi tysnhi ls nhi tysnhi ls nhi tysnhi ls nhi tysnhi ls nhi tys

(L to R) Prof. J.D. Agarwal, Dr. BhishamNaryan Singh, Former Governor to 7 States, FormerMP & Minister of State for Finance, GOI atPublic Lecture on Union Budget 2002-03 at IIC.

Prof. J.D. Agarwal with Janaki Ballabh,Chairman, State Bank of India.

(L to R) Mr. Benjamin Bassin, Ambassador of Finland,and Ambassadors of other Countires atInternational Conference on Financing India, 1998


INDUSTRY & ASSOCIATIONSDr. A. Bhattacharya Economic Advisor, ONGCMr. A.C. Tiwari Former Deputy, B&G, GOIMr. A.K. Doda CGM, IDBIMr. A.K. Wahi Sr. Vice President (HRD & MIS), Vam Organic Chem. Ltd.Dr. A.V. Chaturvedi Chief Engineer, CPWD, Govt. of IndiaMr. Amit Jain Management ConsultantDr. Amrish Gupta Vice President, DB Merchant Banking Service Ltd.Mr. Amul Gogna Executive Director, ICRAMs. Anjana Porwal Finanicial ConsultantMr. Anupam Bhasin Sr. Vice President, Hero CorporateMr. Arun Kaul MD, PNB Gilts LimitedMr. Ashok Singh VP (HR), Chambal Fertilizers & ChemicalsMr. Ashok Singh VP (HRD), Chambal Fertilisers & ChemicalsMr. B.G. Roy Chairman & MD, Siemens Telecom Ltd.Mr. B.M. Khanna Former Chairman, MTNLMr. B.S. Kulkarni Chief Manager, United Western Bank Ltd.Dr. Bansi Dhar Chairman, DCM Shriram IndustriesMr. Bhure Lal, IAS Chairman, FCIMr. Bob Warner Chairman, TimexMr. D. K. Babber CS & Exec. Director, (Law), NTPCMr. D.K. Bakshi GM (HRD), Luxar India Ltd.Mr. D.K. Bhatia Former Economic Advisor, Reserve Bank of IndiaMr. D.R. Sen Seior Manager, (HRD), DCM Ltd.Mr. G.P. Rao Sr. General Manager, J.K. Corps.Mr. H.K. Mohanty Sr. Vice President - (HRD), ABB Ltd.Mr. J.C. Jhuraney Vice President (Personnel & HRD), JCT ElectronicsMr. J.R.K. Gallav MD, Indovest Financial Services Ltd.Mr. Jayant Dang MD, Escorts FinanceMr. Jitendra Nath Goel Former GM, State Trading Corporation, GOIMr. M.A. Hakeem Secretary General, SCOPEDr. M.C. Bhandari Director, Vaikunthlal, MICMMr. Mambi Rajan R. MD, PNB Housing FinanceMr. Manoj Bhalla Vice President, Citi BankMr. Manoj Kaushik CEO, Sai Home Finance Ltd.Dr. Meenakshi Nayyar Chief GM (HRD), DCM Ltd.Mr. Mudit Saxena Vice President, Bank of AmericaMr. Navneet Kampani VP (Head Northern Region), Fortune Financial ServicesMs. Neena Malhotra Managing Director, Goodwil Exports Pvt. Ltd. & Former

President, DMAMr. P.C. Luther Padamshri, Former Chairman, STC, DVC, MMTCDr. P.K. Gupta Secretary General, NAFENMr. P.N.Vijay Managing Director, P.N.Vijay Finance Services Ltd.Mr. P.S. Rana Executive Director, HUDCOMr. Pradeep Kr. Taluja Former Chief Law Officer, IDPLMr. Prashant Bansal Research Analyst, Tata FinanceMs. Puneeta Sinha MD, Open Himer, Boston, USAMr. R.C. Bhargava Former MD, Maruti Udyog Ltd.Mr. R.K. Gupta Former MD, SBIMr. R.K. Pandey Former Executive Director, Delhi Stock ExchangeMr. Raghuraman Advisor Energy, CIIMr. Rajesh Srivastava MD - India, GIC, U.S.A.Mr. Ranjan Dhawan MD, PNB GuiltMs. S. Hooda Chairman, India Development Group, U.K.Mr. S. Mohan Senior Manager (Training), Ranbaxy Laboratory Ltd.Mr. S. Sridhar Regional Head, EXIM BankMs. Venkataraman Executive Director, Modi Alcatel NetworkDr. S.K. Bhatia Former Director, OIL India Ltd.Mr. S.L. Bhambri Director (HRD), BHELCol. S.P. Wahi Former Chairman, ONGCDr. Sai Ramachandran Director, Pearl Polymer Ltd.Mr. Sandeep Vij Managing Director, Escorts Finance Ltd.Dr. Sharan Juneja Former Vice President (HRD), CIMMCO GroupMs. Shobha Ahuja Manager, ASSOCHAMMr. Shyam Ramamoorthy Supply Chair. Managr, Rohm & Hass Pvt. Ltd.Mr. Subhash Jagota G.M. (HRD), Punj Lloyd Ltd.

(L to R) Yoginder Modi, Chairman YKM Holdings,Prof. P.B. Sharma, Principal Delhi College of Engi-neering with Prof. J.D. Agarwal

(L to R) Mr. M.L. Sondhi, Prof. J.D. Agarwal &Mr. Manmohan Singh, Chairman, Frick India Ltd.

Prof. J.D. Agarwal with Dr. Phillip Jucio, FormerFinance Minister of Phipplines and Dean, Dela SalleUniversity, Grad Business School (Philliplines)

Prof. J.D. Agarwal with Prof. Franco Modiglaini,(Nobel Laureate), MIT, USA at Marthus Vinyard

EMINENT SPEAKERS AT IIF SINCE 1997

Mr. Sudarshan Sareen Chairman, DSIDCMr. Sunil Mohan Buckshee Advisor, Thompson Press India Ltd.Mr. Supravat Shaw General Manager, Raunaq Finance Ltd.Dr. T.K. Bhownik Senior Policy Advisor, CIIMr. T.K. Sinha Former CMD, SBIMr. U.K. Dikshit Director, Center for Development, SCOPEMs. Usha Venkatesan Zonal Manager, UTIDr. V.K. Garg Director (Finance), Powergrid Corpn. Ltd.Mr. Vinod Madhok Director (Finance), Dalmia (Bros.) Pvt. Ltd.Mr. Vishnu Dusad Managing Director, Nucleas Software Ltd.Mr. Vivek Nagasaki Vice President (Finance), Hewlett PackardMr. Y.K. Gupta General Manager, Larsen & Toubro

Prof. Ben L. Kedia, Director, School of Business &CIBER, University of Memphis, Memphis, USA

ACADEMICIANProf. A. Lahiri Director, Times School of MarketingDr. A.C. Kulshreshtha Dy. Director General, Central Statistical OrganizationDr. Anand Shetty Professor of Finance, Iona University, USAProf. Arun J. Prakash Chair Finance, Florida International Univ., USAProf. B.M. Bhatia EconomistMr. B.P. Chopra Director, Central Staff College, PNBProf. B.P. Singh Former Dean, Deptt. of Commerce, Delhi UniversityProf. Bala K.R.Balachandran Professor, Stern School of Business, New York Univ., USAProf. Ben L. Kedia Director, CIBER, University of Memphis, USADr. Bibek Debroy Director, Rajiv Gandhi FoundationDr. Bishwajit Bhattacharya Supreme Court Advocate & Professor, Indian Law InstituteDr. D.S. Arora Professor, Indian Institute of Foreign TradeDr. J.C. Verma Executive Director, Indian Institute of Merchant BankingProf. J.L. Gupta Principal, Shri Ram College of CommerceProf. K.K. Agarwal Vice Chancelor, GGS Indraprastha UniversityProf. Kamal N. Kabra Professor, IIPADr. Krishna Murthy Formerly Economist, NCAERDr. Loi Director, VIELINA, VIETNAMMr. M. R. Gera Management ConsultantDr. Madhu Vij Reader, Delhi UniversityProf. Madhulika Kaushik Director, IGNOUDr. Meenal Shrivastava Professor, Univ. of Witwatersrnal, SOUTH AFRICADr. Mira Mitra SociologistProf. N.R. Chatterjee Ex. Dean, FMS, Delhi UniversityProf. Nguyen Xuan Qiynh Director General, VIELINA, VIETNAMProf. O.P. Gupta Director, Hindu Institute of ManagementProf. P.B. Sharma Principal, Delhi College of EngineeringProf. P.K. Ghosh Former VC, North Bengal UniversityDr. R.P.S. Luther Management ConsultantProf. Raj Iyengar Professor, Catholic Univ. of America, Washington DC, USADr. Ravi Gupta Tax ConsultantDr. Ruddar Datt Economist

Prof Aman Agarwal delivering seminar at TheUpper Slsian School of Commerce, Katowice, POLAND

Prof. Agarwal with Prof. Staffan B. Linder, thethen Director, Stockholm School of Economics,Stockholm & Member European Parliament

(L to R) Dr. Rolf A Lundin, Jonkoping InternationalBusiness School (Sweden), Dr. Bogdan Rodomski,Director, IPSEO, WSE (Poland) & Prof. J.D. Agarwal

It is the holy eightfold pathright viewsright decisionright speechright actionright livingright strugglingright thoughts &right meditation

— Lord Budha

Prof. Agarwal with Prof. Robert S. Pindyck,MIT, USA



Prof. S. P. Singh Head, Punjab School of Business, ChandigarhProf. S.C. Chakrabarty Senior Specialist, Indian Statistical InstituteDr. S.C. Kuchhal Former Prof. IIM AhmedabadProf. S.K. Bhattacharya Former Dean, MDIProf. S.K. Ghosh Former Director, IIFTProf. S.N. Mishra Former Director, Institute of Economic GrowthProf. S.P. Gupta Dean, FMS, Delhi UniversityProf. S.S. Gulshan Former Principal, College of Business StudiesProf. S.S. Gulyamov Vice Rector, Tashkent State Agrarian Univ., UZBEKISTANProf. S.S. Lodha Chairman, Deptt. of Business, Connecticut State Univ., USAProf. Satish Shindey HOD., The Institute of Banking, SAUDI ARABIAProf. Shakhista Y. Makudova Associate Professor, Tashkent Univ. of Eco., UZBEKISTANProf. Thijs ten Raa Professor, Tilburg University, NETHERLANDDr. V. Krishnamurthy JournalistDr. V.K. Singhania, Reader, SRCC and Tax ExpertDr. V.N. Attri Professor, Kurukshetra UniversityProf. Zunrat Gulyamov Director, Dev. of Scientific Tourism, UZBEKISTAN

MEDIADr. Ashok V. Desai Advisor, Business StandardMr. Chetan Chadda Editor, Observer Group & Economic Editor,

Financial ExpressMr. Prem Shankar Jha Senior JournalistMr. Tapan Dasgupta Senior Journalist, TOIMr. Shayamal Majumdar Resident Editor, Financial ExpressMr. R.K. Roy Economic Editor, Financial ExpressMr. K.S. Ramachandran Consulting Editor, Observer GroupDr. Chandra Mohan Senior Journalist, TOIDr. Janis Darbari Journalist

Prof. Agarwal with Mr. P.J. Kurian , the thenUnion Minister and Chairman, IIT Delhi


FI invited Strategic Partner along with "TheEconomist" & "Business Week" for GlobalForum Management Education 2002Conference, THAILAND

(L to R) Prof. Aman Agarwal, Seminar Coordinator, Prof.J.D. Agarwal, Mr. V. Suresh, CMD, HUDCO, Mr. B.M.Khanna , CMD MTNL, Padamshri P.C. Luther, FormerChairman DVC, STC, MMTC, Mr. Prem Shankar Jha,Economist & Sr. Journalist, Mr. P.S. Rana, ED, HUDCO,Mr. Chander Mohan, Sr. Journalist, Times of India,

(L to R) Prof. Aman Agarwal, Mr. Vinod Madhok, DirectorFinance, Dalmia Bros. , Prof. J.D. Agarwal, Dr. Bansi Dhar,Chairman, DCM Shriram Industries, Prof. P.K. Ghosh, IIF,Prof. Ben L. Kedia, Univ. of Memphis, Mr. Jayant Dang,MD, Escorts Finance Ltd., Mr. Amol Gogna, VP, ICRA Ltd.,

(L to R) Prof. Yogender Alagh, MP & Former Minister forState & Planning, Prof. Aman Agarwal, Mr. BiswajitBaruah, IIF Student, Prof. J.D. Agarwal, Prof. AbidHussain, Former Ambassador to USA, Prof. K.K.Agarwal, VC, GGS Indraprastha University, Delhi

Right: (L to R) Mr.Ram Niwas Mirdha,Chairman JPC,Security Scam lightingthe lamp, & Prof. J.D.Agarwal, Chairman& Director, IIF

Seminars & Conferences : Snapshots



SHARING HUMAN RESOURCEIIF has provided faculty and academic support to following institution/organisations

IN INDIA

FOREIGNAcademy of Economic Studies, Bucharest, ROMANIAAkademia Ekonomiczna, POLANDAsian Institute of Technology, School of Mgt. Studies, THAILANDBrazillian Capital Markets Institute(IBMEC-Rio), BRAZILBrazillian Capital Markets Institute(IBMEC-San Paulo), BRAZILCleveland State University, Ohio, USAUniversity of Maryland at College Park, College of Business

Administration, Maryland, USADreyfus Brascan Asset Management, BRAZILFederal University of Rio Grande do Sul, BRAZILFlorida International University, Miami, USAGeorge Washington University, USAGetulio Vargas Foundation, Rio de Janerio, BRAZILSchool of Business Admn., GV Foundation, San Paulo, BRAZILGraduate School of International Corporate Strategy (HU), JAPANHarvard University, Boston, USAHitotsubashi University (School of Economics), JAPANInstitute of Banking & Management, Bielsko Biala, POLANDInstitute of Economic Research (HU), JAPANJohn Carol University, Ohio, USALodz Technical University, POLAND

London Business School, UKUniversity of Memphis, Memphis, USAMIT, Boston, USANational University of Singapore, SINGAPORENLI Research Institute, JAPANOld Dominion University, USAPontific Catholic University of Rio de Janerio, BRAZILSaitama Institute of Technology, JAPANSumitomo - Life Research Institute, JAPANSyracuse University, USAThe Upper Silesian School of Commerce, Katowice,

POLANDThe World Bank, Washington DC, USATIGER, Academy of Entrepreneurship & Mgt., Warszawa, POLANDUniveristy of Minho, PORTUGALUniversity of Namur, BELGIUMUniversitie Portuclance, PORTUGALUniversity of Tokyo, JAPANWarsaw School of Economics, Warszawa, POLANDWarsaw University, Warszawa, POLANDWaseda University, Graduate School of Commerce, JAPANWyzsza Szkola Handlows, Ruda Slaska, POLAND

All India Council of Technical Education (AICTE), DelhiAll India Management Association, New DelhiCentre for Rural & Applied Technology, I I T, DelhiCentre for Systems and Management Studies, I I T, DelhiDelhi College of Engineering, DelhiDelhi Management Association, DelhiDepartment of Civil Engineering, I I T, DelhiDepartment of Economics, Kurukshetra UniversityDr. Hari Singh Gour Vishwavidyalaya, SagarEngineers India, Ltd., New DelhiGarhwal University, UttranchalGGS Indraprastha University, DelhiGokhale Institute of Economics & Politics, Pune University, PuneHaryana Institute of Administration, ChandigarhHimachal Pradesh Institute of Administration, ShimlaIDBI Training Centre, New DelhiIIF Business School (GGSIPU), DelhiIndian Institute of Foreign Trade, New DelhiIndian Institute of Forest Management, BhopalIndian Institute of Management, LucknowIndian Institute of Public Administration (IIPA), New DelhiIndian Society of Training and Development, New DelhiIndira Gandhi National Open University (IGNOU), DelhiIndustrial Development Bank of India Training Centre, DelhiInstitute of Chartered Financial Analysts of India,

HyderabadInstitute of Company Secretaries of India (ICSI), New DelhiInstitute of Costs & Works Accountants of India (ICWA), DelhiInstitute of Economic Growth, DelhiInstitute of Economic Studies, DelhiInstitute of Engineering, AllahabadInstitute of Goverment Accounts & Finance, New DelhiInstitute of Management Development U.P., LucknowInstitute of Planning & Architecture (Deemed University), DelhiInstitute of Secretarial Training and Management, Department of

Personnel and Administrative Reforms, GOI, New Delhi

Jamia Hamdard University, New DelhiKurukshetra University, KurukshetraLal Bahadur Shastri National Academy of Admn., MussorieM.D. University, Department of Business Mgt., RohtakMadras University, ChennaiMagadh UniversityMaharaja Agrasen Instt. of Mgt. & Technology, JagadhariManagement Development Institute of DCM, New DelhiManagement Development Institute, BHEL, BhopalManagement Development Institute, BHEL, New DelhiManagement Development Institute, GurgaonManagement Development Institute, NTPC, New DelhiManipal Academy of Higher Education, ManipalMohan Lal Sukhadia University, UdaipurNational Academy of Customs, Excise & Narcotics,

FaridabadNational Hydroelectric Power Corporation Ltd.National Institute of Bank Management, PuneNational Institute of Financial Management, FaridabadOil & National Gas CommissionOsmania University, HyderabadPHD Chamber of Commerce & Industry, DelhiPunjab National Bank Staff Training College, New DelhiPunjab University, ChandigarhPunjabi University, PatialaRajasthan Vidyapeth (Deemed University), UdaipurRajiv Gandhi Pradyogiki Vishwa Vidyalay, BhopalRegional Engineering College, Srinagar (J&K)Systems Research Institute, PuneU. P. State Electrical Board, LucknowUniversity Grants Commission (UGC), DelhiUniversity of Delhi, DelhiUniversity of Lucknow, LucknowUniversity of Rajasthan, JaipurUniversity of Roorkee (now IIT, Roorkee)


IIF PROGRAMMES

IIF Programmes are comprehensive and designed innovativelywith curricula at par with MBA and Ph.D of international standardsbased on international experiences and the need of Indian Industry.

The programmes are thoroughly unique in terms of the coverage,solution of financial instruments to the background of its faculty andguest speakers. The development of individual skills and decisionmaking capacity is emphasized throughout.

The medium of instruction is English.

REGULAR PROGRAMMESManagement of Business Finance (MBF) (2 yr Full Time)Executive Management of Business Finance (EMBF) (3 yr Part Time)Fellow Programme in Business Administration (FBA[Finance])

(3 yr Full Time Research Programme along the lines of Ph.D)Short Term Research Programmes (STRP) (2 to 12 months)Management Development Programmes (MDP)

DISTANCE LEARNING PROGRAMMESBasic Business Finance (BBF) (1 yr DLP)Management of Business Finance (MBF) (2 yr DLP)Post Graduate Diploma of Business Finance (PGDBF) (3 yr DLP)

Professor Douglass C. NorthNobel LaureateMember Editorial Board, Finance India

Note1. Maximum time limit to pass

Regular Programs:MBF, FBA, EMBF Five Years

2. Maximum time limit to passDLP Programs:

BBF Three YearsMBF, PGDBF Five years

from the date of enrollment.

Panorama


FULL TIME REGULAR PROGRAMMEManagement of Business Finance (MBF) (2 years Full Time)Executive Management of Business Finance (EMBF) (3 years Part Time)Fellow Programme in Business Administration (FBA[Finance])

(3 yr Full Time Research Programme along the lines of Ph.D)Short Term Research Programmes (STRP) (2 to 12 months)Management Development Programmes (MDP)

SELECTION CRITERIAAdmission to IIF programs is very rigorous. The

admission to regular program is through written test[XAT / AIMA-MAT / GMAT] and Group Discussion(GD) and Interview. Candidates which qualify in writtentest are called for GD and Interview.

The Grades are given on the basis of candidatespast academic records, other achievements, workexperience, professional growth positioning andpersonal interview for all category of candidates.

Written Test Exemption is granted to candidatesecuring graduation / post graduation aggregate marks> 75% (Engg./ Technical / Science streams) & > 65%(for Commerce / Arts streams). NRI/Foreign/Corporatesponsored candidates are exempt from written test.However all such candidates are required to appear forGD and interview.

The admission policy of the Institute takes intoconsideration a candidate’s total background.

Admission is strictly on merit. Convessing in anyform would disqualify a candidate for admission.

EXAMINATION SCHEMEThe examinations are conducted at the end of each

semester. Each paper is of 100 marks. Each questionpaper is divided into five sections. All the sections arerequired to be attempted by the candidate. Section I is of15 marks and contains concept test with 15 true/falsequestions. Section II is of 20 marks and has 10 multiplechoice questions. Section III is of 20 marks and has fourshort answer questions. Section IV is of 20 marks andcontains two long answer questions. Section V is of 25marks and incl udes a detailed case study.

Note1. Maximum time limit to pass regular Programs:

MBF Five YearsFBA & EMBF Five Yearsfrom the date of enrollment.

2. Maximum three chances can be availed to clear apaper within the above specified time period perprogram.

Management of Business Finance (MBF)[Two year full time Regular Post Graduate Programme]

MBF is a specialised program in Finance. The program has 30 out of 36 papers with core finance focus.It is the only program in finance in the country with curricula at par with MBA of international standard, basedon international experiences and the need of Indian industry. MBF is a 108 credit course.

OBJECTIVESTo develop competent and effective professional managers, to foster intellectual excellence and to teach the

latest techniques of finance by fostering independent and creative thinking.

ELIGIBILITYGraduation in any discipline from Indian or Foreign recognized university with minimum of 50% marks.

45% marks for SC/ST/OBC.Candidates appearing in the final year Bachelor's examination are eligible to apply. Such Candidates, if selected

will be given provisional admission subject to their clearing graduation. The certification of the same has to be submittedbefore 15th September.

Semester I, IV & VII : 1st July - 30th SeptemberSemester II, V & VIII : 1st October - 31st DecemberSemester III, VI & IX : 8th January - 7thApril

SEMESTERSCHEDULE

SESSIONBEGINNING1ST JULY

Top 3 University Position Holders & College Toppers(with Distinction) are exempt from Written Test, GDs& are provided with Rs. 20,000 scholarship per semester.


Year ISemester I

101 Accounting for Financial Analysis102 Economics for Decision Making103 Quantitative Tech. & Forecasting for Finance104 Computer Applications in Finance105 Regulatory Framework of Business106 Organisational Behaviour

Semester II201 General Studies & Personality Development202 Macro Economics & Public Finance203 Operations Research for Finance & Risk Analysis204 Human Resource Management205 Marketing Management206 Management Accounting & Control

Semester III301 Financial Econometrics & Equity Research302 Indian Financial System303 Corporate Finance & Valuation304 Corporate Tax Planning305 Management of Banking & Fin. Institutions306 Personal Finance & Investment

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COURSE STRUCTURE Year IISemester IV

401 Management Control Systems402 Securities & Portfolio Management403 Advance Financial Analysis & Risk404 Capital Market & Financing405 Financial Services406 Business Valuation, Mergers & Acquisitions

Semester V501 Corporate Strategy & Business Policy502 Insurance Management & Risk Analysis503 New Financial Models & e- Finance504 Financial Engineering & Risk Management505 Project Management, Appraisal & Control506 Options, Futures & Financial Derivatives

Semester VI601 Business Ethics & Corp. Social Responsibility602 Management Information System & Control603 Global Financial System604 International Finance700 Project (equivalent to two courses)

All courses are of 3 credits each.Course 700 is of 6 credits.

PROGRAM MODULEThe first two semesters are designed to provide the basics of the finance

function along with the other functional areas of management. Highly advancedinputs of Finance are provided in semester three to six, specializing the futuremanager in different fields/areas of finance.

At the end of the first year the students undergo Summer/ Experientialtraining in industrial, business organizations and international agencies. Theobjective is basically to provide the students with real life exposure whichthey cannot gain from simple classroom study. They get opportunity to learnbeyond the class room by solving business problems and decision makingduring the training period.

In the fourth semester the students get an opportunity to apply theirclassroom knowledge in solving the real world problems faced by the industry. A student isexpected to be associated with a corporate house to conduct the study for the live project. Astudent has to pass the program withing five years from the date of enrollment.

FEE STRUCTUREGeneral Category Admission Fee Rs. 20,000 (one time fee)

(Only Indian with Indian Residency) Semester Fee Rs. 80,000 (per semester)

Other Categories Admission Fee US$ 1,000 (one time fee)(Company Sponsored / NRI / Semester Fee US$ 4,000 (per semester)NRI Sponsored / Foreign Candidates)

Note: 1. Refundable Security Deposit of Rs. 20,000 (interest free) for general category and US$ 1000 (interest free) forother category candidates

2. The fee includes tuition, cost of study material - select text books, test questions and case studies, conduct ofsemester, examinations and subscription to Finance India.

3. FEE ONCE PAID IS NOT REFUNDABLE. No application for refund will be entertained under anycircumstances.

Foundationin Finance

Sem. I and II

Corporate SummerTraining/ FinancialReviews/ Interactive

Seminars/ Events

Advanced & SpecialisedCourses in Finance / ProjectWork / Corporate Profile

Study Semester III, IV, V & VI


Fellow Program in Finance (FBA[Finance])[A Three year full time Research Programme along the lines of Ph.D]

FBA Finance is an intensive doctoral level programme, curricula at par with Ph.D ofinternational standard, based on international experiences and the need of Indian Academia.

OBJECTIVESTo promote research, Fellow Programme in Finance (FBA Finance) is designed to provide

knowledge and analytical abilities necessary to conduct high quality research and teaching inthe field of finance.

ELIGIBILITYMaster's or Post Graduation in any discipline from Indian or Foreign university with first

division. MBF from Indian Institute of Finance with first division.

PROGRAMME MODULEThe Fellow programme is designed along the PhD programme. A

continuous integerated approach to research is followed. The Fellowprogramme is based on course work, comprehensive theory examinations,participation in significant research through economic series in the researchworkshop, research papers & book reviews. Dissertation and Research/Teaching requirement.

A candidate is required to attend the course work of 18 papers in thefirst three semesters (1st Year) of MBF. (Please see course structure of MBFfor details). In the second year the Fellow is to attend seminars, attemptbook reviews and develop research proposal for dissertation under theguidance of the faculty coordinator. The Fellow is required to present theresearch proposal to the workshop. The Fellow is to work on the dissertationin the second year and submit the thesis after three years of enrollment. AllFellows are required to undergo One year Teaching cum Research Assistantship at the Instituteor a University.

The dissertation should be an original research work making positive and significant contributionto knowledge. It must not have been submitted in part or in full for any other diploma or degree ofany university or Institution. A student has to pass the program within three yeats from the dateof enrolment

TEACHING & RESEARCH ASSISTANTSHIPAll Fellow are required to undertake teaching & research assistantship either at the Institute or

University for completion of the program. Those who choose to undertake the same at IIF, would beprovided with stipend to take care of their general expenses and services rendered.


(Only Indian with Indian Residency) 1st Year (Semester Fee) Rs. 80,000 (per semester)2nd Yr Onwards Rs. 10,000 (per year)

Other Categories Admission Fee US$ 1,000 (one time fee)(Company Sponsored / NRI / 1 Year (Semester Fee) US$ 4,000 (per semester)NRI Sponsored / Foreign Candidates) 2nd Yr Onwards Rs. 1,000 (per year)




Dissertation/PresentPapers/Attend Conferences/Coordinate Study Groups &GDs/Teaching & Research

Assignment3rd year onwards

FoundationFinance

Semester I, II& III

Financial Reviews/Attend Seminars &Workshops/DevelopResearch Projects

2 Year


Year ISemester I

101 Accounting for FinancialAnalysis

102 Economics for DecisionMaking

103 Quantitative Tech. &Forecasting for Finance

104 Computer App. in Finance

Semester II105 Regulatory Framework of

Business106 Organisational Behaviour201 General Studies &

Personality Development202 Macro Eco. & Public Finance

Semester III203 Operations Research for

Finance & Risk Analysis204 Human Resource Mgt.205 Marketing Management206 Mgt. Accounting & Control

COURSE STRUCTURE

Executive Management of Business Finance (EMBF)[A Three year part time Regular Senior Executive Post Graduate Programme]

EMBF is a senior executive part time programme. Executives are exposed to internationalscenario/simulations and have indepth interaction with international faculty and visiting scholarsat the institute.

OBJECTIVESTo enhance the competence and effectiveness of professional managers. To foster intellectual

excellence. To teach the latest techniques of finance by fostering independent and creative thinking.

ELIGIBILITYWorking Executive with atleast three years of work experience at Executive level having

Graduation in any discipline from Indian or Foreign university.


(Only Indian with Indian Residency) Semester Fee Rs. 80,000 (per semester)

Other Categories Admission Fee US$ 1,000 (one time fee)(Company Sponsored / NRI / Semester Fee US$ 4,000 (per semester)NRI Sponsored / Foreign Candidates)




Year IISemester IV

301 Financial Econometrics &Equity Research

302 Indian Financial System303 Corporate Finance &

Valuation304 Corporate Tax Planning

Semester V305 Management of Banking &

Financial Institutions306 Personal Finance & Invt.401 Management Control

Systems402 Securities & Portfolio Mgt.

Semester V403 Advance Financial

Analysis & Risk404 Capital Market & Financing405 Financial Services406 Business Valuation,

Mergers & Acquisitions

Year IIISemester VII

501 Corp. Strategy & Bus.Policy502 Insurance Management &

Risk Analysis503 New Financial Models &

E- Finance504 Financial Engineering &

Risk Management

Semester VIII505 Project Management,

Appraisal & Control506 Options, Futures &

Financial Derivatives601 Business Ethics & Corp.

Social Responsibility602 Mgt. Info. System & Control

Semester IX603 Global Financial System604 International Finance700 Project (equivalent to two

courses)

All courses are of 3 credits eachCourse 700 is of 6 credits


DISTANCE LEARNING PROGRAMMES

DLP's are primiarily designed for senior executives and executives with no formal background in Finance.The sessions for the DLP's begin twice in a year (on 1st May and 1st November). The programmes follow a Bi-Semester system to meet the needs and requirements of senior executives.

Basic Business Finance (BBF) (1 year DLP)Management of Business Finance (MBF) (2 years DLP)Post Graduate Diploma in Business Finance (PGDBF) (3 years DLP)

OBJECTIVESTo educate & develop necessary competence &

skills in the effective management of business finance,with some of the latest techniques, methods, proceduresand the latest financial innovations.

To reach those who either live or are posted in farflung areas of India and have no regular educational facilities.

To provide an opportunity of learning for thosewho cannot leave their present assignments to joincourse(s) of their interest on a regular basis due to theirpreoccupations in office, vocation or business but areseriously interested to learn the techniques of effectivemanagement of finance.

ELIGIBILITYGraduation in any discipline with a minimum of

50% [ 45% for SC/ST/OBC] from a recognised Universityin India or Abroad with a minimum of three years workexperience. 20 % seats are researved for fresh graduates.

SELECTION CRITERIAAdmission to IIF programs is very rigorous.

The admission to distance learning program (DLP)is based on calculation of Grade Point Score (GPS).The Grades are given on the basis of candidatespast academic records, other achievements, workexperience, professional growth positioning andpersonal interview for all category of candidates.

IIF follows a policy to admit some freshgraduates and also women candidates, even if theircomparative GPS is relatively low but above theminimum cut off point. The admission policy ofthe Institute takes into consideration a candidate’stotal background.

Admission is strictly on merit. Convessing in anyform would disqualify a candidate for admission.

TEACHING METHODOLOGY & STUDY PACKAGEIIF adopts a unique teaching methodology. IIF supplies

study package containing high quality relevant text books/IIF publications and study notes on each subject in thebeginning of each semester. IIF mails a study planmentioning the dates on which the additionalcommunications and test set modules will be sent. IIFsends test questions containing - true/false questions,multiple choice questions, short answer questions, longanswer questions and case studies, every fortnight, whichmay be attempted by a candidate and sent back to the IIFfor evaluation. IIF returns the evaluated test questionsback to candidates. IIF sends the case studies for beingattempted by candidates. The cases are representative ofactual managerial problems which occur at various businessenvironments. The case analysis method demands studentsto make decisions, develop, implementation of plans andexplain, and defend their actions via discussions or writtenpresentation. These studies develop the talents andconfidence to face the real world problems. All the casestudies after evaluation are returned back to the candidates.Candidate’s progress is monitored and feedback is obtainedfrom time to time during the semester.

EXAMINATION SCHEMEIIF follows a unique open book examination system.

The question papers are sent to the candidates byregistered post. They are expected to attempt in onesitting and return the answer books within one week byregistered post. However, if one is unable to send theanswer papers within one week, the student may submitthe answer papers in subsequent weeks. There is agraded penalty for late submission. The question papersare very comprehensive and only those who haveseriously studied during the semester are able to attemptthe question papers. The Institute’s unique system ofexaminations has been found to be more satisfactory,rigorous and beneficial than the traditional system ofexaminations. For examination pattern please seeexaminations scheme in the prospectus.

Session Beginning Semester Months1st May I, III & V 1st May - 30th October

II, IV & VI 1st November - 30th April1st November I, III & V 1st November - 30th April

II, IV & VI 1st May - 30th October

SEMESTERSCHEDULE


Basic Business Finance (BBF)[One Year Post Graduate Distance Learning Program]

The course is designed to provide the basics of finance. BBF enables one to formthe base for one to pursue career in Finance. The program also help students to actas a bridge course for those who are interested to apply abroad for MBA(Finance)with 3 years basic bachelors degree. A student has to pass the program within threeyears from the date of enrolment.

Management of Business Finance (MBF)[Two Year Post Graduate Distance Learning Program]

The first and second semesters provide the basics of the finance function alongwith other functional areas of management.

Highly advanced inputs of Finance are provided in third & fourth semester. Inthe last semester the students get an opportunity to apply their knowledge in solvingthe real world problems faced by the industry. A student has to pass the programwithin five years from the date of enrolment.

Post Graduate Diploma in Business Finance (PGDBF)The first three semesters provide the basics of the finance function along with

other functional areas of management.Advanced inputs of Finance are provided in fourth & fifth semester. In the last

semester the students get an opportunity to apply their knowledge in solving thereal world problems faced by the industry. A student has to pass the programwithin five years from the date of enrolment.

Note for all the DLPs:1. First Year (Semester I & II) of MBF forms the part of BBF program. Shifting of course is not permitted under

any circumstance.

2. Non working candidates are expected to undergo "On-the-job" training so as to gain real life exposure to supplementthe study material provided by the institute.

FEE STRUCTURE

Programs General Category Other Categories(Bi-Semester System) (Only Indian with ( Company Sponsored / NRI /

Indian Residency) NRI Sponsored / Foreign Candidates)BBF Rs. 20,000 (per semester) US$ 2,000 (per semester)MBF Rs. 20,000 (per semester) US$ 2,000 (per semester)PGDBF Rs. 15,000 (per semester) US$ 1,500 (per semester)Note: 1. The fee includes tuition, cost of study material - select text books, test questions and case studies,

conduct of semester, examinations and subscription to Finance India.2. FEE ONCE PAID IS NOT REFUNDABLE. No application for refund will be entertained under

any circumstances.

DISTANCE LEARNING PROGRAMMES


COURSE STRUCTURE

Year ISemester I

101 Accounting for Financial Analysis102 Organisational Behaviour103 Quantitative Techniques:

Statistics & Econometrics104 Economics for Financial Analysis

I: Micro Economics105 Management Science106 Business Environment & Ethics

Semester II201 Organizational Development202 An Introduction to Computers203 Economics for Financial Analysis

II: Macro Economics204 Managerial Accounting & Control205 Financial Management206 Business & Corporate Taxation

I: Direct Taxes

Year IISemester III

301 Business & Corporate TaxationII: Indirect Taxes

302 Security Analysis & PortfolioManagement

303 Working Capital Management304 Indian Financial System305 Business Policy & Corporate

Strategy306 MIS & Finance: Computer

ApplicationsSemester IV

401 International Finance402 Corporate Tax Planning &

ManagementElective IElective II

700 Project (equivalent to two courses)

Electives403 Management of Financial

Institutions404 Project Appraisal, Planning &

Control405 Financial Planning406 Financial Management of Public

Sector Enterprises407 Project Management &

Investment Decisions408 Budgeting & Budgetary Control409 Personal Investment & Tax

Planning

PGDBFYear I

Semester I101 Accounting for Financial Analysis102 Organisational Behaviour103 Quantitative Techniques:

Statistics & Econometrics104 Economics for Financial Analysis

I: Micro EconomicsSemester II

105 Management Science106 Business Environmemt & Ethics201 Organizational Development202 An Introduction to Computers

Year IISemester III

203 Economics for Financial AnalysisII: Macro Economics

204 Managerial Accounting & Control205 Financial Management206 Business & Corporate Taxation I:

Direct Taxes

Semester IV301 Business & Corporate Taxation II:

Indirect Taxes302 Security Analysis & Portfolio

Management303 Working Capital Management304 Indian Financial System

Year IIISemester V

305 Business Policy & CorporateStrategy

306 MIS & Finance: ComputerApplications

401 International Finance402 Corporate Tax Planning & Mgt.

Semester VIElective IElective II

700 Project (equivalent to two courses)

All above courses are of 3 credits eachCourse 700 is of 6 credits

Note1. Maximum time limit to pass Distance

Learning Programs:BBF Three YearsMBF & PGDBF Five Years

from the date of enrollment.2. Maximum three chances can be

availed to clear a paper within theabove spacified time period perprogram.

BBF & MBFMs. Somi Tondon, MBF 1990Financial Advisor Secretary Rank (Rtd.)

Dr. A.S. Sarma, MBF 1990VP (Technical), Chemoleums Ltd., Chennai

Dr. Nasim Zaidi, IAS MBF 1993DG Civil Aviation

Mr. Sameer Khare, IAS, BBF 1994Addl. Commissioner, Guwahati

Mr. Shitanshu Mitra, MBF 1994Asst. VP & Head North India, HDFC Bank

Mr. Om Prakash Pandey, BBF 1995Finance Manager, Hindustan Sanitary wares

Industries Ltd.Mr. Ritwik Roy, MBF 1996

Sr. Revenue Officer, Board of Revenue, GOI.Ms. Punita Bhatt, MBF 1996

Sr. Forex Officer, SONY India Ltd.Mr. Arun Kr. Prahraj, MBF 1996

Financial Controller, Hotel Hindustan InternationalDr. S.K. Mittal, BBF 1996

G.B. Pant University, Pant NagarMr. Vinod K. Malhotra, IAS MBF 1997

Addl. Secretary & Financial Advisor, Deptt.of Industrial Policy & Promotion, GOI.Mr. Arun Padmanabhan, MBF 1997Sr. Corporate Business Manager, Ashok

Leyland Finance.Mr. Alok Kr. Sinha, MBF 1998

Sr. Vigilence Officer, SECLMr. Jitendra Kr. Ambastha, PGDBF 1998

Sr. Manager, UTIMr. Murlidhar Vanjani, MBF 1998

Manager, Chellsons SA, SPAIN

SOME ALUMNI OF DLP

OPINIONThe programmes conducted by IIF areapplication oriented programmes, enrichedwith the knowledge of finance. They opena new frontier in the field of finance.The course design is excellent. It givesgood exposure to the candidate in financialmanagement. The conduct of the programmeis very systematic and methodical.The course contents, study notes and thebooks supplied are excellent and relevantto one’s work. The study material suppliedis always up-to-date giving a widerperspective of the subject. The standardof the case studies is very high and arehighly relevant to Indian conditions.The level of test questions is good andthe frequency is too fast to cope with.The examination system is unique. It isopen book examination, where one canconsult any number of books and inthe process gets an indepth knowledgeof the subject.The programme helps a student to haveadequate self-confidence and developan expertise in finance.

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CAREER OPPORTUNITIESIn the fast changing economic scenario the openings for candidates

holding finance qualifications are ample and that too highly rewarding.The demand far exceeds the existing availability of such professionalsas there are very few institutes offering such specialised programmesin financial management.

IIF trains its students to meet the needs of the industry throughlatest techniques and practical training in reputed organisations andassists them to seek a meaningful career in MNCs, Financial Institutions,Banks, Government Departments, Finance Companies, InternationalOrganisations such as World Bank, IFC, IMF, ADB. Industry:Private& Public Sector, Entrepreneurship, Stock Exchanges, and Consultancy.There are opportunities available to pursue MBA or Ph.D. abroad.Some of our students are pursuing M.B.A. or Ph.D. programmes inU.S.A. & Europe. They have been granted fellowships, tuition waiverand course waiver.

PLACEMENTS AND SUMMER TRAININGIIF has well established placement division and has developed

linkages with various leading banks, financial institutions, industry: private and public sector enterprises to facilitate and assist itscandidates in proper placement. It acts as a liason between prospectiveemployers and students seeking placement.

IIF has been ranked 30th amongst 3546 Universities in Regionaland Global Ranking of Indian Subcontinent Region (World Ranking 4385of 13074 Universities) by Cybermetrics Lab (2007) CINDOC-CSIC(Madrid, Spain) July 2007; A+ Category Business School in India byBusiness India, 2006; THE Best NICHE Business School in Finance inIndia by Outlook, September 2003, 2002 respectively.

Placement positions are also advertised in Finance India to enablestudents to seek jobs which suit them best.

SCHOLARSHIPS, MEDALS AND PRIZESFor Regular Programs

Jyoti Swarup Agarwal Memorial Scholarship Rs. 5000/- per annumRamkali Agarwal Memorial Scholarship Rs. 5000/- per annumIIF Gold Medal Awarded to Topper(1st Position Holder)IIF Silver Medal Awarded to 2nd Position HolderCharanji Lal Agarwal Mem. Prize Rs. 1000/- Awarded to 3rd Pos. HolderBindramal Agarwal Memorial Prize Rs. 1000/- Awarded to 1st year topper

A few exceptionally bright students who are rank holders in any disciplinemay be considered for award of a scholarship of Rs. 20,000 per semester.Such Candidates will have to get a letter of recommendation from the College'sPrincipal/Head of Department with necessary proof of securing minimumof 60% or more marks, indicating his/her rank in University/Institute/College.

For Distance Learning ProgramsIIF Gold Medal Awarded to TopperIIF Silver Medal Awarded to 2nd Position Holder

These are awarded to candidates fulfilling the necessary criteria for theabove and securing distinction marks i.e. above 75 percent in aggregate.

Prof. J.D. Agarwal with Dr. Murli Manohar Joshi, thethen Minister for HRD and Science & Technology, GOI

Professor Robert A. MundellNobel LaureateMember Editorial Board, Finance India

Vice Chairman Mr. Saurabh Agarwal with Prof.Joseph Stiglitz (Nobel Laureate), ColumbiaUniversity, USA

Prof. Aman Agarwal with Evgeny D. Solojentsev,Russion Academy of Sciences (IPME), St. Peteroberg,Russia after Keynits Address at MASR 2009


FINANCIAL ASSISTANCEScholarship, generous feeships, fellowships and Teaching

Assitantships are awarded to deserving candidates on the basis ofacademic achievement, potential and financial need. Specialconsideration is given to : Scheduled castes/Schedule tribe candidates;

Handicapped candidates; Personnelfrom defence forces including warwidows; College and Universityteachers and their wards; Exceptionallybrilliant fresh graduates.

IIF has granted full or half feeconcession to about 10 per cent candidates on an average in the past.

INTERACTIVE PEDEAGOGYThe treatment of the fundamentals and theory is provided

systematically by the faculty through Lectures, Panel Discusions, GroupExercises, Practical Problems Solving Sessions, Case Studies, Role Playsand Syndicate Sessions, Brain Storming Sessions, Financial Review,Seminars and use of Audio Visual Aids. Ample opportunity is providedto the students to raise specific issues and sharing of their experiences.

IIF has developed an inventory of over 500 case studies in Finance.Students are exposed to a large number of industry & real life cases.

EXAMINATION SCHEMEThe examinations are conducted at the end of each semester.

Each paper is of 100 marks. Each question paper is divided into fivesections. All the sections are required to be attempted by the candidates.Section I is of 15 marks and contains concept test with 15 true/falsequestions. Section II is of 20 marks and has 10 multiple choice questions.Section III is of 20 marks and has four short answer questions. SectionIV is of 20 marks and contains two long answer questions. Section Vis of 25 marks and includes a detailed case study. For DLP please seeadditional guidelines in the program brochure.

EVALUATION SYSTEMThe evaluation system in the Institute is continuous and rigorous.

The system is expected to motivate the students towards excellencethrough continuously monitoring their performance and providingthem timely feedback. A student is evaluated on the basis of classparticipation, quizzes, home/class assignments, presentation,Managerial experience (inhouse training), mid-term and finalexaminations.

FBA fellow is also evaluated on the basis of research papers,seminar participation, attendence in international conferences andteaching capabilities. The students are likely to keep themselves engagedthroughout their academic work.

Unlimited resources are neveravailable. Creative solutions areneeded to utilise the limitedresources optimally.

Advisory Council Meeting

Prof. Saurabh Agarwal with Mr. P. Chidambaram,the then Finance Minister, GOI

Vice Chairman Ms. Yamini Agarwal with Prof.James C. Heckman, (Nobel Laureate), Univ. ofChikago, USA & FI Member Editorial Board

Prof. J.D.Agarwal with Dr. Ashok Lahiri,Executive Director, Asian Development Bank atADB Annual Meeting 2010 at Tashkent


SOME IIF DISTINGUISHED ALUMSREGULAR PROGRAMProf. Aman Agrawal MBF 1999 Dir., IIFBS GGSIPU.Mr. Abhaishik Verma MBF 2006 Dir., Verma EximMr. Abhishek Jha MBF 2007 MT, ICICI P.Mr. Ajay Verma MBF 2007 RM, IDFAMr. Alok Kr. Sasmal MBF 2003 Area Mgr., ING VysyaMr. Amit Agrawal MBF 2000 Mgr. (Oprs.) HDFCMr. Amith Thampi MBF 2002 Mgr., GTLLC, DubaiMr. Anand Kumar MBF 2005 RM Cr., GE MoneyMr. Anirban Mandal MBF 2005 Cr. Analyst, ReutersMr. Anil kumar Tiwari MBF 2004 Mgr, IndiaBullsMr. Anmol BalchandaniMBF`2007 Analyst, EXL ServicesMr. Ashish Tiwari MBF 1999 AVP, Dev. Credit BankMr. Ashish Dua MBF 2005 RM, Way2WealthMr. Avishkar Saigal MBF 2006 Sr. Mgr., Saion Real EstateMs. Babita K Thakhur MBF 1997 Sr. Mgr. TVS Sundaram FinanceMr. Balakrishnan I MBF 2002 Equity Analyst, GFC CapitalMr. Biswajit Barua MBF 1999 Sr. Analyst, NDTVMs. Deepali Gupta MBF 2005 Officer, ICICIMr. G. Vijaya Kumar STRP 2002 Dy. DG, Min of Def., GOIMr. Gaurav Chatterjee MBF 2000 Sr. Analyst, BloombergMs. Gayatri Devgan MBF 2007 RM, UTIMr. Goutam Bag MBF 2004 Dir., Silverline Comm.Mr. G. Arun Kumar MBF 2002 Br. Mgr., Way2WealthMr. G. Prakash Pandey MBF 2003 Mgr., ABN AMROMs. Gunjan Khare MBF 2007 RM, Cholamandlam DBSMr. J. Srinivasan MBF 1999 Sr. Exe., TCSMr. Jinendra M. Shah MBF 2005 RM, IL & FS InvestmentMr. Jinesh Patwa MBF 2004 Mgr., India BullsMr. Jitesh Verma MBF 2002 Mgr. American Exp.Ms. Jyotima Kumud MBF 1997 G.M. Sarita Nanda E.Mr. K. Hariharan MBF 2000 Br. Mgr., UTIMr. Kaushik Chatterjee MBF 1998 Area Mgr., ICICIMr. Kunal Palta MBF 2004 Mgr., Kotak Sec.Mr. Manish Mayank MBF 2004 India InfolineMr. Manodeep Lahirei MBF 1999 Mgr., Franklin Temp. A.M.Mr. Manpreet Singh MBF 2001 Mgr., Bajaj CapitalMr. M. Bhushan Pandey MBF 1999 Sys., Analyst, IBMMr. M. Shyam Sunder MBF 2007 Buss. Analyst, Amba Res.Ms. Megha Saboo MBF 2007 Sr. Exe. SREIMs. Natasha Patnaik MBF 2007 Asst. Mgr. IndusindMr. Nalin Srivastava MBF 2003 Sr. Offr., Bajaj AllianzMr. Neeraj Prabhakar MBF 2002 Mgr., ICICI BankMs. Nishit Wali MBF 1999 Sr. Mgr., J.K. IndustriesMs. Pallavi Sharma MBF 2006 Associate, E & YMr. Pawan Verma MBF 2006 Fin. Analyst, Trans. Val.Mr. P. N. Chandradas MBF 2001 Sr. Mgr., Punj LlyodMr. Parth Khandelwal MBF 2001 Sr. Officer, MetlifeMr. Pankaj Kumar MBF 2003 CEO, Durga Comm.Mr. Piyush Mathur MBF 1998 Project Mgr., TCSMs. Pooja Mehndiratta MBF 1999 Branch Mgr., UTIMr. Pradeep K. Manocha MBF 1998 Mgr., HDFCMr. Prashant Pathak MBF 1998 Fin. Exe., ADIDASMs. Promila Gupta STRP 2001 Dir., Min of Def., GOIMr. Rajat Srivastava MBF 1998 Mgr. (P.R.), HDFCMr. Rajat Garg MBF 2002 Dir., Lekhraj BuildersMr. Rajeev Duggal MBF 1998 CEO, Opt. Sys. & Comp.Mr. Rakesh Ray MBF 2001 AVP, SPA Sec.Mr. Rakesh Sharma MBF 2007 Information Off., CMIEMr. Rohit Gupta MBF 2003 Mgr., SBI MFMr. Rohhit Bhargava MBF 1998 Sr.Mgr., HDFCMr. Sachin Taneja MBF 2000 AVP, E-Mecklai

Mr. Sanjog Mishra MBF 2000 Regional Mgr. GE CapitalMr. Santosh B. MBF 2004 Sr. Analyst, Amba Res.Mr. Saugat Sur MBF 1999 AVP, MCXMr. Saugat Acharya MBF 2003 AM, mutualfundsindia.comMs. S. Sankar Roy MBF 2005 RA,Helik AdhisorsMr. S. Balasubramaniam MBF 2005 BA, E-Value ServeMr. Shailendra Malik MBF 1999 Tech. Head-India,

Hotel Quest, Int.Ms. Shalu Mehta MBF 1999 Zonal Head, ICICI BankMs. Sharon D'Souza MBF 2000 Sr. Mgr., HDFCMr. Sheel Kr. Mehrotra MBF 1999 AVP, Kotak Mahindra MFMr. Shishir Miglani MBF 1999 India Head, Exel InternetMs. Shubhra Singh MBF 2004 Sr. Mgr., IL & FS InvestmartMr. Siddharth Mahanta MBF 2004 Mgr., IBMMs. Smita Bhagwati MBF 1999 CEO, Banyan Tree Rec. SolMr. Sourav Bhaumik MBF 2000 Producer, Zee BusinessMr. Somnath Dey MBF 2004 Rel. Mgr., Fortis Sec.Ms. Sonica Yadav MBF 1999 Mgr, Greater

Noida AuthorityMr. Sumit Singla MBF 2004 Branch Head,

Alankit AssignmentsMrs.Sunita Kaila STRP 2000 Comm. Income Tax, ITO, GOIMs. Swapnil Pant MBF 2003 CEO, Studio EnchanteMs. Swarnalatha Rao MBF 2004 Mgr., The Smart CubeMs. Tanushree Guha MBF 2004 Mgr., InfosysMs. Tulika Sarawgi MBF 2003 Exe., J P Morgan StanleyMr. Uday Munjal MBF 2007 Sr. Analyst Cerebra Res.Mr. Vaibhav Amarnath MBF 2003 Dir., A.N.E. Ltd.,

Mombasa, KenyaMr. Vikas Saxena MBF 2000 Cr. Analyst, Karvy Cons.Mr. Vikram Jain MBF 2004 Mgr., HDFC, AuditsMr. Vinay Gupta MBF 2000 Sr. Mgr., HDFCMr. Vinay K. Pidakala MBF 1997 Branch Head, IndusInd

BankMr. Vishal Saxena MBF 1998 Mgr., Maral OverseasMr. Yogesh Toshniwal MBF 2007 MT, Hindustan PrefabMs. Yamini Agrawal MBF 2003 Vice-Chairman, IIF

DISTANCE LEARNING PROGRAMDr. A.S. Sharma MBF 1990 VP(Tech.), ChemoleumsMr. Alok Kumar Sinha MBF 1998 Sr. Vigilance Off., SECLMr. Arun Kr. Prahraj MBF 1996 Fin. Cont., HHIMr. Padmanabhan MBF 1997 Sr. Corp. Bus. Mgr,

Ashok Leyland Fin.Mr. Ashish Sharma PGDBF 2003 AVP, MAX New

York Life.Mr. J. Kr. Ambastha PGDBF 1998 Sr. Mgr., UTIMr. Murlidhar Vanjani MBF 1998 Mgr, Chellsons SA, SPAINDr. Nasim Zaidi, IAS MBF 1993 Jt. Sec., Ministry of

Civil AviationMr. Om Prakash Pandey BBF 1995 Fin. Mgr.,Hindustan SanitMs. Punita Bhatt MBF 1996 Sr. Forex Officer, SONYMr. Ritwik Roy MBF 1996 Sr. Rev. Officer, Board of

Rev., GOIProf. (Dr.) S.K. Mittal BBF 1996 G.B. Pant Univ.,Mr. Sameer Khare,IAS BBF 1994 Add. Comm., GuwahatiMr. Shitanshu Mitra MBF 1994 AVP, HDFCMs. Somi Tandon MBF 1990 Sec., Mir. of Def., GOIMr. Sushil Kr.Menon MBF 2001 Dy. Mgr. (Fin.),

Reliance PetroleumMr.Vinod K. Malhotra MBF 1997 Chairman, FCI, GOI


The FOCUSfor PLACEMENT, SUMMER TRAINING & SANGOSHTI: SELECT CORPORATE GIANTSBANKSABN-AMRO BankAmerican ExpressANZ Grindlays BankBank of AmericaBank of Bahrain & KuwaitBank of Nova ScotiaBank of Tokyo MitsubishiBanque Nationale deParisBharat Overseas BankCatholic Syrian BankCenturion Bank of PunjabCitibankCity Union BankCredit LyonnaisDeutsche BankDresdner BankFederal BankFuji BankHDFC BankHongkong & ShanghaiBanking Corp.ICICI Banking Corp.IDBI BankINDUSIND BankKarnataka BankKarur Vysya BankLakshmi Vilas Bank Ltd.Mashreq BankNagpur Nagrik SahakariBankNedungadi BankPunjab National BankSanwa BankScotia BankStandard Chartered BankState Bank of IndiaTimes BankUnion Bank of SwitzerlandUnited Western BankUTI Bank

INVESTMENT BANKERSCrosby SecuritiesDSP Merrill LynchENAM Financial ConsultantsGE CapsICICI SecuritiesIDBI Capital MarketServicesIFCI Financial ServicesJardine FlemingJ.M. Financial & InvestmentsJ P MorganKotak Mahindra Capital Co.Peregrine CapitalPNB Capital ServicesSBI Capital MarketBajaj Capital Ltd.

CREDIT RATING AGENCIESFitch RatingsCARECRISILDuff & PhelpsONICRASMERA

STOCK EXCHANGE &REGULATORY BODIES

BSEDSEIRAOTCEINSESEBINMCENCDEXMCX

FINANCIAL INSTITUTIONSDelhi Financial Corp.EXIM Bank of IndiaGICHDFCHUDCOICICIIDBIIFCIIIBIIL & FSLICMax New York LifeInsuranceNABARDNHBPFC

AUDIT/CONSULTANCIESFIRMS

Tourism Fin. Corp. of IndiaA.F. FerguesonBCGCareer DimenstionChesterton MeghrajDeloitte Haskins & SellsErnst & YoungLovelock & LewisMckinsey & Co.PWCRichard EllisS.B. BillimoriaSharp & TannanS.R. Batliboi & Co.TCSThe Smart Cube

NBFCsThe AssociatesBajaj Auto Finance

Bajaj CapitalBirla Global Finance Ltd.Ceat FinanceCholamandalam FinanceConsortium FinanceEscorts FinanceFirst LeasingIndia Lease Dev.Kotak Mahindra FinanceLazard Credit CapitalMotor & Gen. FinanceNicco Uco FinancePeerlesssR.R. FinanceSundaram FinanceSBI Home FinanceTata FinanceZuari Leasing & Finance Co.

PSU'sBHELEILIOCNALCONTPCNHPCPowergrid CorporationLtd.ONGCSAILHPL

MUTUAL FUNDSAllianz Mutual FundBirla Capital AMC Ltd.BOB Mutual FundCanbank Mutual FundGIC Asset ManagementLIC Mutual FundJM Morgan StanleyPNB Mutual FundSBI Mutual FundTaurus Mutual FundTempleton Mutual FundUnit Trust of India

CORPORATES/MNCSABBACCAdani ExportsAlfa-Laval (India)AlsthomApollo TyresAptechArvind MillsAshok LeylandAsian HotelsAsian Paints (India)BataB S E S

Bajaj AutoBallarpur IndsBausch & Lomb IndiaBayer (India)Bennette & ColemanBharat ForgeBharti TelecomBirla Corp.Bombay Dyeing & Mfg. CoBPLBritannia IndustriesBurroughs WellcomeCanonCadbury IndiaCadila PharmaceuticalCarrier AirconCastrol IndiaCentury EnkaChambal Fert. &ChemicalsCIPLACMIECocaColaColgate-PamoliveCrompton GreavesDabur IndiaDCM ShriramDigital EquipmentsDLFDr. Reddys LaboratoriesDuncans IndustriesE Merck (India)East India HotelsEID-Parry (India)EscortsEssar SteelEvalue ServeEveready IndustriesExide IndustriesFinolex CablesFlex IndustriesGlaxo IndiaGodfray PhilipsGoetz India Ltd.Grasim IndustriesGreat Eastern Shipping CoGVFLHCLHero HondaHindalco IndustriesHindustan UnilererHoechst (India)Honda SielHewlett PackardHughes Software SystemsICI IndiaIndian Aluminium CoIndian Hotels CoInfosys TechnologiesIngersoll-Rand

ITC GroupJCT ElectronicsJindal Iron and Steel CoJK CorpKarvy Global ServicesKirloskar CumminsKnoll PharmaKodakKSB PumpsL M LLakmeLarsen & ToubroLNJ BhilwaraLupin LaboratoriesM R FMahindra & MahindraMarico IndustriesMorepen LaboratoriesMotorolaNAM Securities Ltd.Nagarjuna Ferts. & Chem.Nahar GroupNerolac PaintsNestle IndiaNicholas PiramalNIITN OCILNovartis IndustriesOrchid ChemicalsOswal Chem. & Ferts.Parke-Davis (India)PepsicoPfizerPhilips IndiaPidilite IndustriesProcter & GambleRanbaxy LaboratoriesRaymond SyntheticsReliance IndustriesReliance CapitalSatyam ComputersS K F Bearings IndiaSPICTata ChemicalsTELCOThermaxTISCOTitan IndustriesTorrent PharmaceuticalsTVS-SuzukiUnited PhosphorusUsha IspatVideocon GroupVoltasWartsila NSDWiproWockhardtZee TelefilmsZuari Agro Chemicals

30TH among TOP 100 out of 3456 Universities / Institutes in Regional & Global Ranking of IndianSubcontinent Region by CINDOC-CSIC (Madrid, Spain) July 2007

A+ Category Business School in India by Business India, 2006THE Best NICHE Business School in Finance in India by Outlook September 2003; 2002RA

NKED


REGULAR PROGRAMME

Management of Business Finance (MBF)1. Lectures, Inhouse Seminars, Cultural

Events & Other Activities2. Summer Training3. On Job Training

Executive MBF (EMBF)Fellow Prog. in Finance (FBA Finance)DISTANCE LEARNING PROGRAMMEBBF, MBF, PGDBFMDP, EDP

AN ACADEMIC YEAR IN THE LIFE OF IIF STUDENTJULY AUG. SEPT. OCT. NOV. DEC. JAN. FEB MAR. APR. MAY JUNE

FALL SEMESTER (I TO VI) SUMMER SEMESTER (I TO VI) FALL SEMESTER

SEMESTER I & IV SEMESTER II & V SEMESTER III & VI

ACADEMIC LIFEIIF enjoys a spirit of bonhomie and cordiality prevailing amongst the

faculty members, staff and students. It is braced with the informal and freeacademic atmosphere. In addition many professors from abroad havecontributed to the enrichment of teaching and research, through seminarseries, dinner and lunch talks. They have also given the institute a richinternational flavour.

IIF Fraternity includes present and past students, faculty and otherswho are associated with the activities of the Institute.

IIF FRATERNITYIIF Fraternity provides an excellent opportunity whereby the interests

of the students can be represented. The Fraternity acts as a centrefor interaction and dissemination of information among memberswho are now senior executives in their respective fields. Headedby the students this club also undertakes all activities of theinstitute including organising Eminent speaker lecture series;seminars, debates, cultural functions, Inter-institute managementfunctions etc.

IIF FINANCE FRATERNITYIIF has set up a finance fraternity to debate and discuss

issues of contemporary relevence in the areas of finance and accounting ina free and frank atmosphere. The Finance Fraternity constitutes of IIFstudents, faculty, visiting faculty and Alumni. Outsiders seriously interestedin the field of finance and such contemporary issues are welcome andoften invited to be a part of fraternity activities.

IIF STUDY GROUPSIIF Study Groups help its members

to make up and refurbish the knowledgegaps. Study groups encourage learning,teaching exercises amongst students insmall groups.

IIF FRATERNITY

The high standards of education infinance, imparted at IIF, both in termsof knowledge & comprehensivenessare highly commendable. I will owe anindepth gratitude towards IIF, througho-out my life, for the vital role it hasplayed in my career.

Vinay Gupta, MBF 2000Senior Manager, HDFC

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ManagerialTouch of Art

CorporateInitiated ResearchPapers & Inhouse

Seminars

IIF has given me more thanacademic learning - it has givenme a professional outlook and hasunderlined the spirit of cohesionand team work.

Sharon D'Souza, MBF 2000Manager, HDFC Bank

"IIF a mine of knowledge,skills and professionalism"

Rohit Gupta,MBF 2001-2003

IIFFRATERNITY

Lifeat IIF

Talented Persons whenTrained Properly

Perform Excellently

This publication is up to date at the time of printing. IIF reserves the right to make changesin policy, regulations, course offering & descriptions, entrance periods, degreerequirements, & fees, as circumstances dictate, subsequent to publication. IIF expectsits students to have knowledge of the information presented in this & other IIFpublications.All matters are subject to Delhi Jurisdiction.


Prof. J.D. Agarwal, Ph.D.(Delhi), Hony.Ph.D. (TFI, Uzbekistan); Hony. D.Litt.(SZIU, Hungary); ITP (LBS London)Dr. Agarwal is a well knowneconomist and financial expert withpleasing personality. He has servedseveral institutions of repute duringthe last 40 years. He is an excellentteacher, trainer and researcher. Hehas published 15 books and over 150research papers in reputed journals.He is Chief Editor of "Finance India"since 1987. He is well known for hisnational and international linkages.His news, analysis & comments oneconomic and financial issues appearon AIR, TV & national dailies.

Prof. A.L. Nagar, Ph.D., Formar Pro-VC, DU & FormerProfessor, DelhiSchool of EconomicsProf. Nagar has morethan 45 years ofteaching experience.He has publishedseveral research

papers & authored many books. Heis the Chief Editor of Journal ofQuantitative Economics. He is aneminent researcher andeconometrician.

Prof. Aman Agarwal, MPA (ColumbiaUniv., USA), SpecializedProgram in Finance (LSE,UK), MBFProf. Agarwal is Director,IIF Business School[GGSIPU Delhi]. He is edit-ing the journal Finance In-

dia as its Executive Editor. He hasbeen felicitated as “Honorary Pro-fessor of Uzbekistan” by TashkentState University of Economics,Uzbekistan. He is visiting professorto universities in USA, Europe, LatinAmerica & South Asia. He is boardmember of STB (Singapore), RBA(ABI, USA), EEL (Bangladesh), JoE(France) and various others. He hasorganized national & internationalconferences. His views appear fre-quently on TV & the newspapers withregard to Financial Policies, Capital

Markets & Economic Scenario. He isinvited to deliver lectures and key-note addresses on various aspects.

Prof. Grzegorz W. Kolodko, Ph.D.Prof. Kolodko, a keyarchitect of Polish reformsand the country’sintegration with theEuropean Union hasserved as Poland’s DeputyPremier and Minister of

Finance (1994-97) and held the sameposition again in 2002-2003.He iscurrently Director of TIGERTransformation, Integration andGlobalization Economic Researchand professor at the LeonKozminski Academy ofEntrepreneurship and Managementin Warsaw (WSPiZ). He is theauthor of 35 books and over 300articles and research papers.

Mr.N.Vittal, IAS (Retd.)Prof. Vittal has retired asCentral VigilanceCommissioner (CVC), GOI,after completing his fouryear term. He joined the IASin 1960 and was allotted theGujarat cadre. He was

secretary to Government of India inthe departments of (i) Electronics and(ii) Tele-communications andthereafter was Chairman of the PESB.

Professor Y.P. Singh, Ph.D(L.U.)M.Com(L.U.), B.com(L.U.)Professor Y.P. Singh issenior Professor andDean(Academics) at theInstitute. Before joiningthe Institute, he has served

University of Delhi in variouscapacities for almost 4 decades. Hewas the Head of Department ofCommerce, Delhi School ofEconomics, University of Delhi andthe Dean of the Faculty ofCommerce and Business,University of Delhi. He has been themember of the Academic Council,University of Delhi. He hassupervised 28 Ph.Ds and 53 M.Phils

ACADEMIC RESOURCES & STANDARDSFACULTY : DISTINGUISH RESOURCE

IIF is bestowed with most distinguished internationally recognised faculty. It comprises of senior academicians,practising professionals and young brains bursting with new ideas led by IIF Chairman – a financial expert withmission and vision. The faculty believes that in a learning process the free ranging exchange of ideas are essentialbetween students and teachers. The faculty members are always available to discuss informally, the progress ofstudents work, to explore an idea or for any academic query. IIF faculty is known for their teaching, research,publications and travel widely around the globe to contribute in academic activities.

successfully. His publications includeseven books and the various researchpapers/ articles published inJournals of repute.

Prof. Manju Agarwal, Ph.D. (Delhi), ITP(LBS London)

She is an Adjunct Professorand has over 40 years ofteaching experience &participation in seminars &conferences world over. Sheis an active researcher and

has been resource faculty in numberof MDPs. She has written manybooks and published several 7articles in reputed journals.

Dr. Joginder Singh, IPS (Retd.) FormerDirector, CBI, India,M.A.(English)He Started withSuperintendent of Police,Bidar District. Has led anumber of Indiandelegations abroad to UK,

USA , Germany , France , Japan ,South Korea , Singapore , Indonesia, Australia , New Zealand , Iran , UAE,Hongkong , Switzerland , and anumber of other countries. He haswritten several books.

Mr. Arvind Pande, I.A.S.(retd), Director,HDFC Bank; Member BRPSE, Govt

of India; Former Chairman,SAIL, New Delhi &Secretary, GOI;Mr. Arvind Pande is an Hon-orary Professor. Currently,he is the Chairman of IVRCLInfrastructures and Projects

Ltd, Hyderabad, and is also on the boardof HDFC Bank Ltd, Visa Industries Ltd,Sandhar Locking Devices Ltd and As-set Care Enterprises Ltd. He is also anon-executive and independent direc-tor of Era Constructions (India) Ltd.

Mr. T.N. Pandey, LLB, LLM (Harvard),Indian Revenue service(Retd.) Former Chairman-Central Board of DirectTaxes & Former SpecialSecretary, Ministry ofFinance.


He is a tax expert and has authoredseveral articles on taxation and cor-porate law in popular economicchronicles. He advises several for-eign companies on tax law and regu-lations in India.

Mr. R. N. Lakotia, Tax ExpertMr. R. N. Lakotia is a well-known authority ontaxation in the country. Heenjoys the uniquedistinction of being theonly person in India whohas addressed over 2,600lecture meetings,

symposia, seminars and in-houseprogrammes on tax planning andpractical tax education in India andabroad. He is writer of dozens ofbooks on income tax, which haveseen over 50- editions so far.

Prof. Saidasaror S. Gulyamov, Ph.D.Vice Rector (TashkentState AgrarianUniversity), Director(Regional Centre,EDIWorld Bank, TSAU )Prof. Gulyamov is anHonorary Professor ofManagement He is a well

known scientist in the field of modeldevelopment of regionalagrosytems. He has more than 150research papers, articles and booksto his credit. He is Vice Rector ofTashkent State Agrarian Universityand Director of Regional Centre ofEDI World Bank at TSAU.

Prof. R.K. Agarwal, M.Com. FCA, FCSProf. Agarwal is a wellknown author with over 30years of practicalexperience. He has writtenmore than 90 books ontaxation and company law.He heads the consultancy

division. His teaching interests areAccounting & Taxation.

Prof. Yamini Agarwal , Ph.D. (IIT Delhi),SBM- SIDA, M.Com (DSE),MBF (IIF), B.Com (Hons.)(SRCC, DU)She is currently ViceChairperson and AssociateProfessor (Finance) at theinstitute and has completed

her Ph.D. in Finance from IndianInstitute of Technology (IIT), Delhion capital structure decisions undermultiple objectives. She has alsosuccessfully completed StrategicBusiness Finance program for Seniorexecutives as a sponsored andnominated candidate of SIDA(Swedish International Development

Authority) in Sweden and Malaysia.She has published thirteen (13)research publications, twenty two (22)book reviews in international andnational journals. She is also AssociateEditor of Finance India and editor ofSub Saharan Review of Economics andFinance besides being on reviewercommittee of many renownedpublishers. She has been nominatedmember on several committeesconstituted by bodies likeASSOCHAM, FICCI and others. Herareas of interest are Corporate Finance,International Business, GlobalFinancial System, Financial Modeling& E-Finance and Education.

Mr. Pushpender Singh Raghav, M.Com.He holds his masters inAccounting & Taxation. Hehas 16 years of teachingexperience in the areas ofFinancial Accounting,Management Accounting,Personal Tax Planning,

Corporate Tax Planning etc. He is akeen researcher and has reviewedmore than twenty-five books in thejournal of International repute. He hassupervised more than two hundredprojects in the area of accounting andtaxation at postgraduate level.

Mr. Deepak Bansal, M.Sc. (Comp. Sc.)M.Com., ADSMHe holds his masters inComputer Science &Commerce. A GoldMedallist from NIIT, hisbasic interest lies in IT, MISand allied areas and has 16

years of teaching experience to hiscredit. He is a keen researcher & hasreviewed more than twenty fivebooks. He has supervised more thanone hundred & fifty projects atpostgraduate level. He has attendedvarious seminars, training programs& workshops. He heads theComputer Division.

Mr. Saurabh Agarwal, M.Phil, M.Com.He is currently ViceChairman and AssistantProfessor (Finance) atIndian Institute of Financeand Associate Editor,Finance India .He has beenactively engaged with

teaching and research activities at theIndian Institute of Finance. He is alsoPrincipal Member of the Bureau ofIndian Standards (BIS). He alsorepresents ASSOCHAM on a groupheaded by Mr. S. K. Jindal, DeputySecretary, Government of India(GOI), Ministry of Finance,Department of Financial Services. He

is a nominated member of CapitalMarket Committee at Federation ofIndian Chamber of Commerce andIndustry (FICCI), expert Sub-Committee of Industry and Financeat Indian Chamber of Commerce andIndustry (ICCI) and Young BusinessLeaders Forum of PHDCCI. On theresearch front, he has 7 publicationsin indexed/peer reviewedinternational journals, 2 conferencepublications and 20 book reviews tohis credit.

Mr. Pankaj Kumar Jain, M.Phil, M.Sc.Pankaj Kumar Jainspecializes inQuantitative Techniques,Operation Research andComputers in differentareas of Finance. Heteaches the subjects usingcase studies; management

games and role-play exercisesmaking the difficult subject assimple as possible. He is a keenresearcher. He has one researchpaper and more than 12 book reviewpublished under his name.

Ms.Preeti Gupta, M.Com(DU),B.Com(Hons.)(DU)Preeti Gupta is a 2nd rankholder in M. Com,University of Delhi. Shehas attained her degree ofB.Com(H), University ofDelhi, with Ist Division.She has five Book Reviews

to her credit published in the journalof international repute. She ispursuing her research in the area of“Pension funds”. Her areas ofInterest are Human ResourceManagement, Financial Planning &Portfolio Management and CapitalMarket.

Mr. Akshat Agarwal, PGDM (AIT)

Prof. J.D. Agarwal with Mr. O.P. Bhatt, Chairman,State Bank of India at ADB Annual Meeting 2010at Tashkent.

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Indian Institute of Finance The Institute A Centre of...

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