The Central government has decided to rename National Institute of Financial Management (NIFM), Faridabad, as Arun Jaitley National Institute of Financial Management (AJNIFM). A statement from the Union government said the renaming is being done to align "the vision and aspiration of the Institute for the future with the vision and contribution" of late Arun Jaitley, former Union finance minister and Padma Vibhushan awardee. Mr Jaitley had served as the Union Minister for Finance and Corporate Affairs during the period May 26, 2014 to May 30, 2019.
NIFM, Faridabad, was set up in 1993 as a registered society under Department of Expenditure, Ministry of Finance, with the mandate to train officers of various Finance and Accounts Services recruited by the Union Public Service Commission (UPSC) through the Civil Services examination as also officers of Indian Cost Accounts Service (ICoAS).
The Union Finance Minister is the president of the NIFM society.
Over a period of time, the Institute has become a premier resource centre to meet the training needs of Central government for senior and middle level of management in the fields of Public Policy, Financial Management, Public Procurement and other governance issues for promoting highest standards of professional competence and practice.
NIFM also caters to the State Governments, Defence establishments, Banks, other Financial Institutions and PSUs. It has ventured beyond training into the field of management education and runs certain AICTE approved programmes leading to Post Graduate Diplomas in Management, in various areas of Financial Management.
"Aligning the vision and aspiration of the Institute for the future with the vision and contribution of Late Shri Arun Jaitley, the Government has decided to rename National Institute of Financial Management (NIFM) as the Arun Jaitley National Institute of Financial Management," the statement said.
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