M.F.

C PROSPECTUS

INTRODUCTION

The Master of Finance and Control (MFC) Programme is one of the prestigious and more
demanding Programme of Patna University, the Seventh Oldest University in India established in
the year 1917. The MFC Programme is being organised and run by the Department of Applied
Economics and Commerce since the year 2007. The Degree of Master of Finance and Control
(MFC) awarded by the Patna University is recognized throughout the World.

The Master of Finance and Control (MFC) Programme offers a two-year comprehensive MFC
Course designed to provide a sound foundation for understanding the complexities of modern
business and to equip the students with the analytical tools required for scientific decision-making.
Thus, its basic objective is to train and equip the student with the analytical tools required for
taking up managerial responsibilities in business enterprises. The Programme which includes
teaching of Principles and Practices of Management, Marketing, Organisational Behaviour,
Business Environment, Management Information System, etc., is also designed to acquaint the
students with all the important functional areas in business such as Finance, Marketing, Banking,
Insurance, Stock Exchanges and other Financial Institutions, etc. The theoretical foundation built
in the students is reinforced by subjecting them to the rigors of Summer Training Programme and
writing a Project Report so that during the course of the training itself, they may be in a position to
test their knowledge of theory in its application to practical propositions.

AIMS AND OBJECTS

In the present competitive world, especially in the light of Economic Liberalisation, which led to
open/free market policy for the corporate sector, there is the demand of specialised and
professional personnel in the decision-making process. Keeping in view the prevailing scenario to
the corporate world and in tune with the future strategic parameters, the MFC Programme has been
designed with the following objectives:

1) To provide opportunities to the students of different disciplines to join the Programme

to be well acquainted with the managerial capabilities in their careers.

2) To develop the knowledge of management in the area of Finance, Accounts and

Control among the students to meet the challenge in changing scenario of the corporate
sectors as well as other sectors.

3) To provide an excellent managerial competence among the students for meeting the
present and future challenges of business organization in the free economic system of
the world.

4) To make students well equipped with the broad spectrum of knowledge of Management
of Finance, Accounting and Control so that they may be more professional and
specialised in their respective field
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 FACULTY

NAME POSITION SPECIALISATION

Brahmanand Pandey Head and Director Statistics,

(M.Com., Ph.D.) University Professor Corporate Legal Framework.

Business / Company Law,

Jyoti Shekhar University Professor Principles of Management,
(M.Com., Ph.D.) Human Resource Management.

Mahesh Chandra Prasad Associate Professor Finance and Accounting.

(M.Com., MBA, Ph.D.)

Cost Accounting,
Mohammad Alamgir Associate Professor Business Environment,
(M.Com., Ph.D.) Management Principles,
Organisational Behaviour,
Human Resource Management.
Strategic Management,
Nagendra Kumar Jha Associate Professor Financial Management,
(M.Com., Ph.D.) Corporate Financial Accounting.

Financial Management,
Ashim Lal Chakraborty Assistant Professor Management of Values,
(M.Com., Ph.D.) Managerial Economics,
Strategic Management.

RGULATIONS FOR MASTER OF FINANCE AND

CONTROL (MFC) EXAMINATION

1) The Master of Finance and Control (MFC) Course, a two-year full-time course, shall
run as an independent unit under the Patna University and organized by the Department
of Applied Economics and Commerce.

2) The Master of Finance and Control (MFC) Examination shall be held in two Parts;
Part-I and Part-II. Part-I Examination shall lead to the promotion to Part-II and Part-II
Examination to the award of the degree of Master of Finance and Control (MFC).

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 ADMISSION PROCEDURE
1) The Master of Finance and Control (MFC) Programme shall be full-time course and shall
be run by the Department of Applied Economics and Commerce, Patna University.

2) The Master of Finance and Control Examination shall be held in two Parts – Part-I and
Part-II.

3) Any registered student of Patna University who has passed the Bachelors Examination in
the Faculty of Arts, Science, Commerce, Business Administration or Engineering
examination or of any other University recognized by the Academic Council as equivalent
thereto may appear at the Entrance Examination as specified in Clause-2 of the Ordinances
provided he / she fulfils the condition as laid down in Clause–3 of the same Ordinances.

4) The minimum marks required for admission shall be 45% aggregate at the Bachelors
Degree Level examination.

5) The selection of candidates for admission to the Programme will be made on the basis of
merit. The ‘Merit List’ shall be prepared on the basis of aggregate of:
(a) Composite Marks obtained by the Candidate at the National Entrance Examination, i.e.,
MAT (Conducted by AIMA),
(b) Group Discussion (GD) carrying 200 Marks, and
(c) Personal Interview (PI) carrying 200 Marks.

6) A candidate must obtain a minimum of 45% marks in aggregate taking together MAT,
Interview and Group Discussion held for the purpose to qualify to be included in the Merit
List.

7) Every candidate for Part-I Examination of Master of Finance and Control (MFC) course
shall be examined in the following subjects:

PAPER I - Management Concepts and Organisational Behaviour

PAPER II - Business Environment
PAPER III - Fundamentals of Economic Decision- Making
PAPER IV - Statistical Analysis
PAPER V - Financial and Cost Accounting
PAPER VI - Marketing Management
PAPER VII - Financial Management

PAPER VIII - Accounting for Managerial Decisions

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PAPER IX - Computer Application and Information System
PAPER X - Financial Institutions and Markets
PAPER XI - Corporate Legal Framework
PAPER XII - Investment Management

8) The examination shall be conducted by means of papers, twelve in number, each carrying
100 marks of which minimum of 30 marks shall be for Internal Assessment and 70 marks
for written examination conducted by the University. The duration of written examination
of each paper shall be of three hours.

9) The Internal Assessment marks shall be based on activities such as:

 Participation in Seminar, Case Discussions and Group Work.
 Class Tests, Quizzes, Individual and Group oral presentations.
 Submission of written assignments, term papers and viva-voce.
 Classroom participation and attendance.

The weightage given to each of these factors shall be decided and announced at the
beginning of the year by the Head with consultation of the Faculty Member responsible for
the Paper.

10) The examination shall be held once a year at such place or places and at such time as the
Examination Board may fix.

11) The minimum marks for passing the examination for Master of Finance and Control (MFC)
course shall be 45 (forty five) in each Paper of which 25 marks must be obtained by the
candidate in written portion and 10 (ten) marks in Internal Assessment of the subject
concerned and 50 per cent marks in the aggregate of all the subjects taken together.

12) To be eligible for promotion to the second year of the course, a candidate must clear
successfully Nine (9) papers out of the Twelve (12) papers offered during the first year of
the course.

13) As soon as possible after the examination, the Examination Board shall publish a list of
successful candidates eligible for promotion to Master of Finance and Control (MFC) Part-
II.

14) A candidate who having completed the course fails to appear at the examination or fails to
be promoted in the examination may again be admitted to the examination on payment of
prescribed fees without further attendance at Lectures.

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 MASTER OF FINANCE AND CONTROL (MFC) PART-II EXANINATION

15) To be admitted to Part–II of the Master of Finance and Control (MFC) Examination, a
candidate must have:
(a) Passed Part-I of the Master of Finance and Control (MFC) Examination or promoted to
Part–II course,
(b)Completed a regular course of study as give in Regulation 17 of this Chapter in the
University, and
(c) Continue to be registered in the University as a student.

16) A candidate, who having completed the course fails to pass the examination, may again be
admitted to the examination on payment of the prescribed fees without further attendance at
lectures.

17) A candidate for Part–II of Master of Finance and Control (MFC) Examination shall be
examined in the following subjects:

PAPER XIII - Security Analysis and Portfolio Management

PAPER XIV - Fund Management in Commercial Banks and Insurance Sector
PAPER XV - Operation Research
PAPER XVI - Financial Services Marketing
PAPER XVII - International Finance
PAPER XVIII - Corporate Tax Planning and Management
PAPER XIX - Project Planning and Control
PAPER XX - Strategic Financial Management
PAPER XXI - Multinational Financial Management
PAPER XXII - Derivatives and Risk Management
PAPER XXIII - Summer Training
PAPER XXIV - Project Work

(18) Summer Training shall be for 4 to 6 weeks with an industrial, business or service
organisation by taking up a study on various aspects of the organisation. The conditions
of successfully completing the course shall not be deemed to have been satisfied unless
student undergone summer training under the supervision of an authority of the
department in organizations as approved to submit a summer training report to the Head
for the work undertaken during the period.

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 (19) A student of the Master of Finance and Control shall be required to offer Project
Report. The Project Report shall be submitted on a problem approved by the Head. For
zpreparing the project report, the candidate shall have to work under the supervision of a
Faculty Member approved by the Head.

(20) A candidate who obtains 50 per cent marks each in the Summer Training Report and
Project Report but fails in the examination shall not be required to re-submit a fresh
Summer Training Report and Project Report before appearing at any subsequent
examinations. The marks secured by him / her in Summer Training Report and Project
Report in previous examination shall be taken into consideration at the subsequent
examinations.

(21) The Faculty of Commerce until creation of the Faculty of Management shall make
such changes in the subjects mentioned in the regulation as may deem fit from time to
time with the approval of Academic Council.

(22) Aggregate marks for Part–II of Master of Finance and Control examination shall be
1,200. The examination shall be conducted by means of Papers, 10 in Number, each of
3 hours duration. Summer Training Programme and Project Study examination each
carrying 100 marks (except Summer Training Programme Paper XXIII and Project
Study Paper XXIV) of which minimum of 50 marks shall be Internal Assessment and
50 marks for written examination.

(23) The Internal Assessment marks shall be based on the activities mentioned in the
Regulation in Clause 9.

(24) The scheme of evaluation of Summer Training Programme and Project Study shall be
as follows:

a) For Paper XXIII, a Training Report based on Summer Training will have to be
submitted as per the schedule announced by the Head from time to time,

b) For Paper XXIV, Project Report based on project study will have to be submitted
as per the schedule announced by the Head from time to time,

c) The written part of the training report and project each shall account for 50 marks
and viva-voce each of 50 marks to be conducted by a duly constituted Board.

(25) The minimum marks for passing the examination for Master of Finance and Control
Course, Part–I shall be 45 (forty five) in each paper of which 25 marks must be
obtained by the candidate in written portion and 10 (ten) marks in Internal Assessment
of the subject concerned and 50 per cent marks in the aggregate of all subjects taken
together.

(26) A candidate who fails to pass or fails to appear at the MFC examination may be allowed
to take up to three subsequent examinations without further attendance at lectures.

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(27) The degree shall be awarded to successful students on the basis of combined results of
the Part-I and Part-II examinations. The name of successful candidates shall be
arranged in order of the merit in the two classes as follows:

a) Candidates who obtain a minimum of 60 per cent of the aggregate marks or more
shall be placed in the First Class.

b) Candidates who obtain a minimum of 50 per cent or more but less than 60 per cent
of the aggregate marks shall be placed in the Second Class.

(28) If student fails in three subjects or less in the examination or secures minimum marks to
pass paper but has not secured the minimum marks required to pass in aggregate for the
year concerned may have the option to take re-examination in not more than three
papers to pass the year.

(29) As soon as possible after the examination, the Examination Board shall publish a list of
successful candidates, those placed in the First Class in order of merit and the rest in
alphabetical order.

(30) Every successful candidate at the Part-II of Master of Finance and Control Examination
shall receive diploma in such form as may be prescribed by the Academic Council.

(31) The Master of Finance and Control Course shall be placed in the Faculty of Commerce
until Faculty of Management is created.
(32) A candidate having passed the Master of Finance and Control Examination of this
University or any other Universities can do Ph.D. in Management provided he / she
fulfils the conditions laid down in rules and regulations by the University for the
purpose.

Processing of proposals submitted for doing Ph.D. in Finance and Control shall be the
responsibility of the Head.

NOTE: This Regulation shall be effective from Session: 2007–2008.

ORDINANCES FOR ADMISSION OF STUDENTS TO MASTER OF

FINANCE AND CONTROL (MFC) COURSE
1) The total number of students to be admitted to the Master of Finance and Control
course and the students to be admitted in different categories of seats namely,
General and Reserved Categories (merit), Paid Category, NRI Category, Sponsored
Category shall be fixed by the Vice-Chancellor.

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 2) The selection of candidates for admission to the Course shall be made out of the five
(5) National Entrance Examination(s) namely CAT (conducted by IIMs), JMET
(conducted by IITs), XAT (conducted by XLRI), MAT (conducted by AIMA) and
ATMA (conducted by AIMS) or the test prescribed for the purpose from time to

3) ztime and the Interview, Group Discussion conducted by the Board constituted by
the Vice-Chancellor in consultation with the Head at such place and at such time as
the Head may fix.

4) The minimum marks required for admission to the test conducted for selection of
candidates shall be 45 per cent of the aggregate marks at the degree examination.

5) Any registered student of this University who has passed the Bachelor’s
Examination in the Faculties of Arts, Science, Commerce, Business Administration
or Engineering examination of any other Universities recognized by the Academic
Council as equivalent thereto may appear at the Entrance Examination as specified
in Clause–2 of this Ordinance provided he fulfils the conditions as laid down in
Clause–3 above.

Provided that applications of graduate having degree from the Faculties other than
those specified having satisfactory business experience may also be considered in
exceptional cases.

6) To qualify for admission to Master of Finance and Control Course, a candidate must
obtain a minimum of 45 per cent marks at the Entrance Examination and Interview,
Group Discussion held for the purpose, provided that the above marks may be
suitable lowered by the Vice-Chancellor if all the seats are not filled-up.

7) Admission shall be made strictly in order of merit, i.e., percentage of marks secured
by the candidate at the Entrance Test and Interview, Group Discussion held for the
purpose.

8) Reservation of seats for different categories of candidates shall be made as per rules
of the Patna University applicable at the time of admission provided they qualify for
admission as required in Clause-5 of this Ordinance.

9) Seats left unfulfilled in any of the categories for reserved seats under Clause-7 above
by reason of the fact that no eligible candidates are available shall be filled up by
admitting applicants from amongst candidates available in the General Merit List.

10) Admission against seats earmarked for paid category, NRI category and Sponsored
category shall be made provided the candidate fulfils the condition as laid down in
Clause-5 of this Ordinance.

10) (a) No applicant shall be admitted who in the opinion of the Vice-Chancellor should
not be admitted in the best interest of the University.

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 (b) No applicant shall be admitted who has not applied for admission within the
notified time, or who, on being selected for admission, does not get himself
enrolled within the specified time except when the delay is condoned by the
Vice-Chancellor or the person to whom power has been delegated by him.

11) Every candidate seeking admission to the Course shall pay fees as may be prescribed
from time to time by the Advisory Board, Master of Finance and Control Course,
Patna University of which the Vice-Chancellor shall be the Ex-Officio Chairperson.

FEE STRUCTURE
The fee of the course shall be charged in full at the time of admission to the course.

The fee structure of the course shall be the following:

GENERAL
PARTICULARS AND NRI SEATS SPONSORED PAID SEATS
RESERVE SEATS
SEATS
Admission Test and 500 500 500 500
Interview fees

Entrance Fees 6,500 13,000 13,000 13,000

Tuition Fees 22,000 44,000 44,000 44,000

Developmental 6,500 13,000 13,000 13,000

Charges

Miscellaneous 1,000 2,000 2,000 2,000

Charges

Total Rs. 36,500 72,500 72,500 72,500

PAYMENT
All Payments relating to the MFC Programme must be made by Crossed Demand Draft (DD)
only drawn in favour of the “Head, MFC Prog., Dept. of AE&C, P.U.” Payable at Patna.
Fees charged from the Candidate shall not be refunded.

Money Order / Cheque / Postal Order shall not be accepted. Receipts must be obtained for all
payments made to the Department.

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 12) The general superintendence and direction of the Course shall be the responsibility of
the Head of the Department.

13) The Head shall be answerable to the Vice-Chancellor for teaching and research.

14) The Head of the Department shall appoint such persons and invite such Faculty for
running the MFC Course as he deems fit, from time to time.

15) The Master of Finance and Control shall be organized and managed by the
Department of Applied Economics and Commerce at such place or places and at
such time as the Vice-Chancellor may fix.

16) The Master of Finance and Control shall be placed in the Faculty of Commerce
until Faculty of Management is created.

17) The admission of the student to Master of Finance and Control shall be cancelled in
case the document(s) submitted by the student are found to be fake.

18) A student admitted to the course, if found guilty of gross misconduct, shall be
expelled from Course at any stage.

19) The Management and Operation of the Master of Finance and Control shall be
governed by the provisions laid down in Annexure-I.

NOTE: The Ordinance shall be effective from Session: 2007-2008.

NRI / SPONSORED / PAID SEATS

Candidates desirous of taking admission on NRI / Sponsored / Paid Seats are required to
use their option for the seat in the application form. For admission on NRI Seat, Letter
from respective Embassy shall have to be submitted and for admission on sponsored seats
payments shall be received only in form of crossed cheque issued by the Business
Houses.

TIMINGS
The MFC Classes will be held at the venue and according to the timings as decided and
notified by the Head of the Department, Department of Applied Economics and
Commerce, Patna University from time to time.

MEDIUM OF INSTRUCTION
The medium of instruction and examination in Master of Finance and Control shall be
English.

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 METHOD OF INSTRUCTION
Instruction and training to the candidates will be imparted through:
(a) Class Room lectures
(b) Tutorials
(c) Seminars
(d) Group Discussion
(e) Summer Training
(f) Project Work
(g) Professional Lectures, etc.

WORK LOAD

A student will normally have minimum of four (04) Classes on each working day. Each class
shall be of 45 minutes duration.

ATTENDANCE
No candidate shall be considered to have pursued a regular course of study unless he / she is
certified by the Head of the Department, MFC Course to have attended the three fourth of the
total number of classroom sessions during his / her course of study. Weightage shall be given
for attending Computer Practical Classes & participation in Summer Training Programme.
Any Student not complying with this requirement will not be allowed to appear at the
examination. However, the Head of the Department may condone the required percentage of
attendance by not more than 10 per cent.

LIBRARY FACILITIES

The MFC, Department of Applied Economics and Commerce have a rich collection of books
on Management in its Library. Some of the best Newspapers and Journals are also
subscribed. All these materials are available to the students of MFC during normal working
hours.

HOSTEL ACCOMODATION

A few seats are available for students admitted to the MFC. However, hostel accommodation
is not guaranteed.

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 OTHERS
DISCIPLINE

Candidates who are admitted to MFC Programme shall have to maintain proper discipline on
the campus. They will have to strictly follow the Rules and Regulations prescribed by the
University for the Course, from time to time. The Vice-Chancellor / Head of the Department
shall have the power to order the cancellation of admission of a student admitted to the
Course, if in his opinion such cancellation is necessary and in the best interest of the
Institution or the University. But, before doing so, a notice shall be served on the student
concerned to explain why such an action should not be taken against him?

Irregular attendance, long absence, unsatisfactory progress, unsatisfactory conduct, failure in

making payment of fees in time, disobedience, etc., will be considered as enough reasons for
canceling the admission of any candidate to the Course at any time during the Academic
Session. The decision of the Head of the Department in this regard shall be final.

ENQUIRY

All enquiries or communication, relating to the Master of Finance and Control should be
addressed to the Coordinator, MFC Programme, Department of Applied Economics and
Commerce, Patna-800 005.

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