University of Mumbai

Prime Minister Manmohan Singh’s idea of introducing a course Masters of Science (MSc) in Finance in Mumbai University (MU) has taken shape. The varsity officially launched the course at Jamnalal Bajaj Institute of Management Studies (JBIMS), Churchgate.

MU officials said the course was expected to meet international standards. Its content and curriculum was designed after reference to the syllabus of MSc in Finance course at London School of Economics, University of Florida and some other institutes in France.

The idea, originally mooted by the PM in 2011, is part of the UGC and central government initiative to make Mumbai an international finance centre.

“We had first received a letter in this regard from UGC in 2011. The proposal was tabled at an academic council meeting and was cleared. However, it took time to identify an institute that could carry out a market survey and conduct the course. JBIMS faculty and industry experts conducted a survey and designed the course curriculum. The course will initially be offered only at JBIMS and the student intake is limited to 30 candidates after an entrance test,” said an MU spokesperson.

Prof Balkrishna Parab, who played a key role in designing the course content, said, “Although we have taken reference from foreign institutes, we have modified the curriculum to maintain relevance to industrial needs in India. The course aims at moulding skilled professionals for finance industry.”

The course is expected to provide employment opportunities for candidates in investment banks, broking firms, private equity entities, insurance companies, credit rating agencies, portfolio management services and venture capital entities.

“We are aiming at churning out finance professionals with internationally-benchmarked skills in financial risk management, asset management, banking and non-banking financial institutions management. As of now, we do not want to increase the student intake or extend the course to other affiliated institutes,” said MU pro vice chancellor Dr Naresh Chandra. (The Indian Express)