| Unit | Topics |
| Overview of Financial Markets | What is a Financial Market? Evolution of the Financial Market, Segments of Financial Markets, Functions of Financial Markets, Price Discovery |
| Money Markets and Capital Markets | Call Money, Notice Money and Term Money, Treasury Bills, Certificates of Deposit, Commercial Paper, Repo, Tri-Party Repo, Bill Rediscounting Scheme (BRDS), Long-Term Repo Operations (LTRO) |
| Fixed Income Markets – Debt / Bond Markets | Government Securities, Bond Valuation and Theorems, Auction of Government Securities, Primary Dealers, Fixed Income Money Market and Derivatives Association of India (FIMMDA), RBI Retail Direct Scheme (RDS), Corporate Bond Market, Inter-Corporate Deposits |
| Capital Markets and Stock Exchanges | Primary Market, Secondary Market Stock Exchanges in India, Financial Products/Instruments Dealt with in the Secondary Market, Regulatory Requirements Specified by SEBI for Corporate Debt Securities, Commonly Used Terms in the Capital Market, Types of Capital Issues in the Primary Market, Eligibility Norms for Making Capital Issues, Intermediaries in an Issue in the Primary Market, Applications Supported by Blocked Amount (ASBA) Qualified Institutional Placement (QIP) |
| Forex Markets | Profile of Foreign Exchange (Forex) Market, Evolution of the Forex Market in India, Characteristics of the Forex Market, Market Participants, LIBOR and Alternate Reference Rates (ARRs), Foreign Exchange Dealers Association of India (FEDAI), Foreign Exchange Management Act (FEMA), 1999, FX-Retail Platform, US Dollar Index (USDX), American Depository Receipt (ADR) and Global Depository Receipt (GDR) |
| Interconnection of various markets/Market Dynamics | Process of Interconnectedness of Financial Markets, Reasons for interconnectedness, Importance of Interconnectedness of Financial Markets, Heterogeneity of Financial Markets, Achievement of Market Integration in India, Different Levels of Market Integration, Asian Clearing Union, Benefits and Costs of Interconnectedness of Markets, Interconnectedness of the Money Market, Interconnectedness of the Credit Market, Interconnectedness of the Capital Market, Interconnectedness of the Forex Market, Integrated Treasury Operations, Contagion Effect. |
| Merchant Banking Services | Definition of Merchant Banking, Historical Background, Development of Merchant Banking in India, Merchant Banking vs. commercial Banking, Licensing Requirements, SEBI Regulations on Merchant Banking, Activities of Merchant Banks, Key Policy Requirements as per SEBI Regulations, Key Codes of Conduct as per SEBI Regulations. |
| Derivatives Market including Credit Default Swaps | What is a Derivative? History of Derivatives, Size of the Derivatives Market, Underlying Assets, Exchange Traded and Over-the-Counter Markets, Participants in the Derivatives Market, Functions of Derivatives, Types of Derivatives, Forward Contracts, Futures, Options, Swaps, Credit Default Swaps (CDS), RBI guidelines on Credit Default Swaps, Documentation for Derivatives – ISDA Agreement. |
| Factoring, forfeiting & Trade Receivables Discounting System (TReDS) | What is Factoring? History of Factoring, Types of Factoring, Domestic Factoring, International Factoring, Bills Discounting vs Factoring, Fees Involved in Factoring, Advantages of Factoring, What is Forfaiting? Mechanism of a Forfaiting Transaction, Fees Involved in Forfaiting, Advantages of Forfaiting, Differences between Factoring and Forfaiting, What is TReDS? Participants under TReDS, Process Flow under TReDS, Eligibility Criteria to Set Up and Operate TReDS. |
| Venture capital | Concept of Venture Capital, Evolution of Venture Capital in India, Characteristics of Venture Capital Finance, Stages of Venture Capital Financing, Process of Venture Capital Financing, Regulatory Aspects of Venture Capital Funds, Modes of Venture Capital Financing, Advantages and Disadvantages of Venture Capital Financing, Exit Routes for Venture Capital Finance. |
| Leasing and Hire Purchase | Lease Finance, Evolution of Leasing in India, Types of Leasing, Advantages and Disadvantages of Lease Finance, Market Share of Various Leased Asset Classes, Impact of Leasing on Financial Ratios, Legal Aspects of Leasing, Regulatory Aspects of Leasing Activities, Hire Purchase, Evolution of Hire Purchase in India, Legal Aspects of Hire Purchase, Parties to a Hire Purchase Contract, Leasing and Hire Purchase Compared, |
| Credit Rating agencies & their functions | What is Credit Rating? Credit Rating Agencies (CRAs); History of Credit Rating; Characteristics of Credit Rating; Importance of Credit Rating, Benefits of Credit Rating, Factors Considered while Rating Companies/Instruments, Process of Credit Rating, Credit Rating Symbols, Ratings Outlook, Regulations for CRAs in India, Fees for Credit Rating, What is Credit Scoring? , Credit Information Companies (CICs) in India, Membership to CICs, Regulatory Guidelines Governing CICs, Credit Scores, Difference Between Credit Ratings and Credit Scores. |
| Mutual Funds | Mutual Funds and their Functions, Management of Mutual Funds, Evolution of Mutual Funds, Classification of Mutual Funds, Role of Mutual Funds, Supervision of Mutual Funds, New Fund Offer, Risks Associated with Mutual Funds, Risk Depiction – Riskometer, Net Asset Value (NAV), Expenses Ratio, Load/No-Load Funds, Strategies for Investment in Mutual Funds, Role of Mutual Funds in the Capital Market, Alternative Investment Funds. |
| Insurance Products | What is Insurance? Fundamental Principles Governing Insurance Products, Classification of Insurance, Types of Insurance Business, Group Insurance Schemes, Micro Insurance, Insurance-based Social Security Schemes, Bancassurance, Insurance Ombudsman Scheme, and Government Business Products (Social Security Schemes like PMJJBY, PMSBY). |
| Pension Funds (include APY, NPS) | Pension System and its Aspects, Pension Products, Different Types of Pension Schemes, Employees Provident Funds Scheme, Public Provident Fund (PPF) Scheme, Insurance Annuity Schemes, National Pension Scheme (NPS), Atal Pension Yojana (APY). |
| Guidelines on Para Banking & Financial Services provided by Banks | Types of Para Banking and Financial Services provided by Banks, Organisation of Para-Banking and Financial Services Activities by a Bank, Para-Banking and Financial Services Undertaken by a Bank, Disclosure of Commissions/Remunerations earned from para-banking and Financial Services Activities. |
| Real Estate Investment Funds / Infrastructure Investment Fund (concept) | What are Real Estate Investment Trusts (REITs), History of REITs, Organisation of REITs, Types of REITs, Difference Between REITs and Real Estate Mutual Funds, Advantages and Disadvantages of Investing in REITs, Comparison of Various Modes of Investment in Real Estate, Taxation Guidelines for Investors of REITs, Regulatory Guidelines for REITs. What are Infrastructure Investment Trusts (InvITs), Organisation of InvITs, Rationale of Setting up InvITs, Activity of InvITs in India, Types of InvITs, Advantages and Disadvantages of InvITs, InvIT’s Revenue Model, Taxation on Investments in InvITs. |
