The Institute was established in the year 1994 as a Department of the University of Mumbai for offering management education with a focus of financial services. The Institute was set up in response to the growing need of Indian managers and investors who could handle business and Capital Market operations in rapidly changing business and financial environment.
The first course that was offered by Institute was 'Diploma in Investment Studies - (D.I.S)'. In the year 1998 Institute converted its two year 'D.I.S.' course into 'Masters in Financial Services and Management' program. In the year 2000 Institute added another course by starting undergraduate degree program BMS (Bachelors in Management Studies). In the year 2002 Institute, post permission of AICTE (All India Council for Technical Education), started offering MMS (Masters in Management Studies) course.
Institute is now also offering doctoral research program - Ph.D. in Management.
The institute has been awarded with numerous awards. To name some;
ABP Education Leadership Award (2015)
ABP Award for Excellent Industry Interface (2014)
B-School with Excellent Industry Interface by Dainik Bhaskar (2013)
Amar Ujala B-School Excellence Awards for the year 2012-2013
Dewang Mehta Award for Best Academic Input (syllabus) in Finance (Year 2012, Year 2013 & Year 2014).
Ranked among top 250 Best B-Schools in the Best B-Schools survey conducted by Business Today in the year 2016
The institute is located at the Kalina campus (Vidyanagari) of University of Mumbai.
The objective of the institute is to bridge the industry-academia relationship and produce effective managers who could lead the organizations with their humble attitude and management knowledge.