MFM 205 Financial Markets and Institutions Notes for GGSIPU MBA (Financial Management) Semester 3 cover all four official units in a 71-page printed English book. The notes contain 46 topics, 26 labelled figures, 6 worked numericals, 4 solved comparison tables and 75 exam-style questions (40 short and 35 long). Topics include money and capital markets, RBI and banking, SEBI, NBFCs, mutual funds, insurance, pension regulation, merchant banking, venture capital and financial services. They follow the MBA (FM) scheme for batches admitted from 2021-22 onwards.
Written by Prateek Talwar, Founder, Unnati Educations · Reviewed by Prateek Talwar, Associate Company Secretary (ACS), ICSI · Checked against the MBA (Financial Management) Scheme and Syllabus, 2021-22 onwards · Updated 14 October 2026 · Editorial policy
Scheme: MBA (FM) 2021-22 onwards | Applies to: batches admitted from 2021-22 onwards | Verified against: MBA (FM) syllabus mapping reviewed in the supplied editorial record on 13 October 2026
MFM 205 Financial Markets and Institutions at a glance: GGSIPU MBA (FM) Sem 3 credits, units and exam pattern
MFM 205 covers India's financial markets, regulators, banking sector, financial institutions and financial services. Topics include RBI, SEBI, IRDAI, PFRDA, banks, NBFCs, mutual funds, merchant banking, credit rating and factoring. It is a core paper in the MBA (Financial Management) Semester 3 scheme.
| Code and title | MFM 205 · Financial Markets and Institutions |
|---|---|
| Course and semester | MBA (Financial Management), Semester 3 |
| Category and credits | Core, 3 credits; L-T-P: 3-0-0 |
| Marks | 100: 25 internal (15-mark class test and 10 marks for assignments, presentation, viva or participation) + 75 external |
| Pass mark | Not specified in the supplied scheme details; refer to GGSIPU Ordinance 11 for applicable examination rules |
| Applies to | Batches admitted from 2021-22 onwards under the stated scheme |
| End-term pattern | 75 marks; detailed question-paper pattern not confirmed in the supplied scheme. The notes classify practice questions into 2–5-mark and 10–15-mark groups. |
| Units and hours | 4 units, 42 teaching hours: Unit I 10, Unit II 12, Unit III 10 and Unit IV 10 |
| Paired lab | None |
The supplied Semester 3 scheme summary lists 34 credits across the semester. That programme-level total should be confirmed against the applicable official scheme before being used for credit-planning decisions.
MFM 205 Financial Markets and Institutions Notes unit-wise: 6 worked numericals, 26 figures and 75 exam questions across 4 units
The four units follow the supplied official syllabus order. The printed notes document pages 5 to 70 for unit content, with 46 topics, 26 labelled figures, 6 worked numericals and 75 exam-style questions.
MFM 205 Unit 1: Financial Markets
Unit 1 (pages 5 to 20) covers the Indian financial system, money market instruments, RBI's monetary policy corridor, capital markets, market reforms, methods of issuing securities, book building, corporate bonds and SEBI's regulatory functions under Section 11 of the SEBI Act. It contains 9 topics, 7 figures, 1 worked numerical and 17 exam-style questions (10 short and 7 long).
Quick look: annualised yield on a 91-day Treasury bill (from page 8)
- Formula: Annualised investment yield = [(Face value − Purchase price) ÷ Purchase price] × (365 ÷ Days to maturity) × 100.
- Given: Face value ₹100, purchase price ₹98.50 and maturity 91 days.
- Discount: ₹100 − ₹98.50 = ₹1.50.
- Calculation: (1.50 ÷ 98.50) × (365 ÷ 91) × 100 = approximately 6.11% per annum.
This is a simple annualised investment yield based on purchase price. It is different from a bank-discount yield calculated using face value as the denominator.
MFM 205 Unit 2: Banking Sector
Unit 2 (pages 21 to 39) is the longest unit by page count and teaching hours. Its 19 topics include RBI, the Narasimham Committees, credit creation, bank balance sheets, non-performing assets (NPAs), payment banks, financial inclusion, banking risks, Basel III, monetary policy and the Monetary Policy Committee. It also covers FinTech, digital banking and central bank digital currency. The unit contains 6 figures, 1 worked numerical and 19 exam-style questions (10 short and 9 long).
| Class | Criterion | Provision described in the notes |
|---|---|---|
| Sub-standard | An asset classified as NPA for up to 12 months. | 15% for the specified secured exposure in the notes; additional provisions may apply depending on the applicable classification and security position. |
| Doubtful | An asset that has remained in the sub-standard category for 12 months. | 25% to 100% of the secured portion depending on the period in the doubtful category, plus 100% of the unsecured portion under the framework described. |
| Loss | A loss asset identified by the bank, auditors or inspectors but not fully written off. | 100% provision or write-off, as applicable. |
Quick look: NPA classifications and illustrative provisioning requirements (from page 27)
- Class
- Sub-standard
- Criterion
- An asset classified as NPA for up to 12 months.
- Provision described in the notes
- 15% for the specified secured exposure in the notes; additional provisions may apply depending on the applicable classification and security position.
- Class
- Doubtful
- Criterion
- An asset that has remained in the sub-standard category for 12 months.
- Provision described in the notes
- 25% to 100% of the secured portion depending on the period in the doubtful category, plus 100% of the unsecured portion under the framework described.
- Class
- Loss
- Criterion
- A loss asset identified by the bank, auditors or inspectors but not fully written off.
- Provision described in the notes
- 100% provision or write-off, as applicable.
These are the classification and provisioning figures presented in the supplied notes. Actual regulatory treatment depends on the institution, exposure, security and RBI directions applicable at the relevant date. A Special Mention Account classified as SMA-2, generally 61 to 90 days overdue, is not automatically an NPA solely because it is in SMA-2.
MFM 205 Unit 3: Financial Institutions
Unit 3 (pages 40 to 54) covers NBFCs and their four-layer Scale-Based Regulation framework, development financial institutions from IFCI to NaBFID, mutual funds, life and non-life insurance, IRDAI, the Ministry of Corporate Affairs, PFRDA and the National Pension System, and housing finance. It contains 8 topics, 5 figures, 1 worked numerical and 19 exam-style questions (10 short and 9 long).
Quick look: mutual fund net asset value per unit (from page 44)
- Formula: NAV per unit = (Value of investments + Other assets − Liabilities) ÷ Units outstanding.
- Given: Investments ₹52 crore, other assets ₹3 crore and liabilities ₹1 crore.
- Net assets: ₹52 crore + ₹3 crore − ₹1 crore = ₹54 crore.
- Units outstanding: 2 crore units.
- NAV: ₹54 crore ÷ 2 crore units = ₹27 per unit.
This simplified example assumes the stated liabilities include all deductions relevant to the calculation. The applicable fund accounting and valuation rules determine the actual NAV computation.
MFM 205 Unit 4: Financial Services
Unit 4 (pages 55 to 70) covers merchant banking, venture capital and private equity, factoring and forfaiting, credit rating agencies, underwriting, portfolio evaluation using Sharpe, Treynor and Jensen measures, project finance, stockbroking, leasing, hire purchase and recent financial services developments. It contains 10 topics, 8 figures, 3 worked numericals and 20 exam-style questions (10 short and 10 long).
| Step | Underwriter A (60%) | Underwriter B (40%) | Total |
|---|---|---|---|
| Gross liability | 60,000 | 40,000 | 1,00,000 |
| Less unmarked applications, allocated 60:40 | (18,000) | (12,000) | (30,000) |
| Less marked applications | (30,000) | (20,000) | (50,000) |
| Net liability | 12,000 | 8,000 | 20,000 |
Quick look: underwriting liability for a 1,00,000-share issue (from page 63)
- Step
- Gross liability
- Underwriter A (60%)
- 60,000
- Underwriter B (40%)
- 40,000
- Total
- 1,00,000
- Step
- Less unmarked applications, allocated 60:40
- Underwriter A (60%)
- (18,000)
- Underwriter B (40%)
- (12,000)
- Total
- (30,000)
- Step
- Less marked applications
- Underwriter A (60%)
- (30,000)
- Underwriter B (40%)
- (20,000)
- Total
- (50,000)
- Step
- Net liability
- Underwriter A (60%)
- 12,000
- Underwriter B (40%)
- 8,000
- Total
- 20,000
The example assumes unmarked applications are allocated in the 60:40 underwriting ratio and that the marked applications are 30,000 for A and 20,000 for B. Different underwriting agreements or allocation rules can produce different liabilities.
FinTech rails and the digital rupee (CBDC) in Indian banking: excerpt from page 30 of the MFM 205 notes
Excerpt from page 30
Digital public infrastructure behind FinTech
India's financial technology ecosystem uses shared digital infrastructure. The JAM Trinity refers to Jan Dhan accounts, Aadhaar and mobile connectivity. UPI, launched by NPCI in 2016, enables interoperable digital payments. The notes also discuss UPI Lite, UPI 123PAY and credit-linked UPI facilities.
The Account Aggregator framework supports consent-based sharing of financial information among eligible participants. e-KYC, video KYC and DigiLocker can reduce paperwork in suitable financial processes. ONDC, OCEN and RBI's Unified Lending Interface are discussed as initiatives relevant to digital commerce and credit access, although they have different functions and stages of adoption.
How FinTech is regulated
RBI's regulatory framework includes its FinTech Department, regulatory sandbox initiatives and digital lending requirements. The notes discuss direct disbursal and repayment arrangements, Key Fact Statements and controls on changes to credit limits. The applicable requirements depend on the regulated entity, lending arrangement and current RBI directions.
FinTech can improve speed, convenience and access, but it also raises issues involving data privacy, cybersecurity, fraudulent lending applications and concentration in payment platforms. The Digital Personal Data Protection Act, 2023 is relevant to data protection, subject to the commencement and applicability of its provisions.
Digital currency: three different things
Digital currency is a broad term for electronically represented monetary value. Cryptocurrencies such as Bitcoin are privately created crypto-assets and are not legal tender in India. Stablecoins are privately issued tokens designed to track the value of a currency or another reference asset, but their actual stability depends on their design and backing.
A Central Bank Digital Currency (CBDC), by contrast, is a digital form of sovereign currency issued by a central bank.
The digital rupee and its two versions
India's digital rupee, or e₹, is issued by the Reserve Bank of India. The Finance Act, 2022 amended the RBI Act to enable banknotes in digital form. RBI began the wholesale digital rupee pilot on 1 November 2022 and the retail pilot on 1 December 2022.
The retail pilot supports payments involving individuals and merchants through participating institutions and supported wallets. The wholesale pilot focuses on selected institutional settlement use cases, including government securities and interbank transactions. Specific technological arrangements and participating institutions may change as the pilots develop.
The digital rupee is a liability of RBI and is distinct from commercial bank deposits, private cryptocurrencies and stablecoins.
How to write MFM 205 answers: comparison tables, regulator facts and figure-led long answers
MFM 205 combines descriptive explanations with selected calculations. The supplied notes recommend comparison tables, accurate statutory references and labelled diagrams for longer answers.
Comparison questions: Begin with the basis of comparison and use consistent headings. Each unit includes a solved comparison table covering a major distinction.
Worked example: money market versus capital market (page 20)
| Basis | Money market | Capital market |
|---|---|---|
| Maturity | Primarily short-term instruments, generally up to one year | Long-term securities and financing, generally exceeding one year |
| Purpose | Short-term liquidity and working capital | Long-term financing and investment |
| Instruments | Treasury bills, commercial paper, certificates of deposit, call money and repo | Shares, debentures, long-term bonds and investment fund units |
| Regulation | RBI plays a central role in money-market regulation | SEBI regulates securities markets, while government securities also fall within RBI's regulatory framework |
Four bases of comparison from the solved answer
- Basis
- Maturity
- Money market
- Primarily short-term instruments, generally up to one year
- Capital market
- Long-term securities and financing, generally exceeding one year
- Basis
- Purpose
- Money market
- Short-term liquidity and working capital
- Capital market
- Long-term financing and investment
- Basis
- Instruments
- Money market
- Treasury bills, commercial paper, certificates of deposit, call money and repo
- Capital market
- Shares, debentures, long-term bonds and investment fund units
- Basis
- Regulation
- Money market
- RBI plays a central role in money-market regulation
- Capital market
- SEBI regulates securities markets, while government securities also fall within RBI's regulatory framework
Regulator questions: Identify the regulator, its statutory foundation, functions and relevant reforms. For SEBI, the notes use its establishment in 1988 and statutory status under the SEBI Act, 1992, followed by protective, regulatory and developmental functions.
Book-building questions: Draw the process flow and explain the price band, bidding, allocation and listing stages. The notes refer to a price-band cap of 120% of the floor price, anchor allocation rules and T+3 listing. These are time-sensitive regulatory details and should be checked against current SEBI rules before an examination or publication update.
Banking questions: Distinguish the recommendations of the Narasimham Committee of 1991 from those of the Narasimham Committee of 1998. For NPAs, explain recognition, causes, consequences and recovery mechanisms, including DRTs, SARFAESI, the Insolvency and Bankruptcy Code and NARCL.
Numericals: State the formula, identify the assumptions, substitute the figures and show the final result with units. For Treasury bill yield, NAV and underwriting liability, the worked examples in Units 1, 3 and 4 provide revision formats.
MFM 205 exam corner: 40 short and 35 long exam questions by unit, plus 4 solved comparisons
The notes classify questions into short-answer practice (labelled 2–5 marks) and long-answer practice (labelled 10–15 marks). These labels describe the practice material and do not independently establish the official university question-paper pattern.
| Unit | Short questions | Long questions | Solved comparison | Numericals |
|---|---|---|---|---|
| Unit 1: Financial Markets | 10 | 7 | Money market vs capital market | 1 |
| Unit 2: Banking Sector | 10 | 9 | Commercial bank vs NBFC | 1 |
| Unit 3: Financial Institutions | 10 | 9 | Life vs general insurance | 1 |
| Unit 4: Financial Services | 10 | 10 | Fund-based vs fee-based services | 3 |
| Total | 40 | 35 | 4 | 6 |
MFM 205 exam-style questions, solved comparisons and numericals
- Unit
- Unit 1: Financial Markets
- Short questions
- 10
- Long questions
- 7
- Solved comparison
- Money market vs capital market
- Numericals
- 1
- Unit
- Unit 2: Banking Sector
- Short questions
- 10
- Long questions
- 9
- Solved comparison
- Commercial bank vs NBFC
- Numericals
- 1
- Unit
- Unit 3: Financial Institutions
- Short questions
- 10
- Long questions
- 9
- Solved comparison
- Life vs general insurance
- Numericals
- 1
- Unit
- Unit 4: Financial Services
- Short questions
- 10
- Long questions
- 10
- Solved comparison
- Fund-based vs fee-based services
- Numericals
- 3
- Unit
- Total
- Short questions
- 40
- Long questions
- 35
- Solved comparison
- 4
- Numericals
- 6
Total: 75 exam-style questions (40 short and 35 long), 4 solved comparison tables and 6 worked numericals across four units.
One question per unit, with answer pointers:
- Unit 1: Explain the book-building process. How does it differ from a fixed-price issue? Pointer: Draw the process flow, explain bidding and price discovery, and compare issue price, investor participation, allocation and disclosure (pages 13–14).
- Unit 2: What are non-performing assets? Discuss their causes, impact and remedies. Pointer: Explain the applicable overdue recognition criteria, the effect on bank profitability and capital, and recovery mechanisms including DRTs, SARFAESI, IBC and NARCL (pages 26–28).
- Unit 3: Discuss the role of PFRDA and the features of the National Pension System. Pointer: Explain PFRDA's establishment in 2003, its statutory framework from 2014, NPS Tier I and Tier II accounts, and the institutional structure shown in Figure 3.4 (pages 50–51).
- Unit 4: What is a Special Purpose Vehicle in project finance? Pointer: Define the project-specific entity, explain its role in financing and risk allocation, and distinguish non-recourse from limited-recourse financing (page 65).
MFM 205 and the GGSIPU MBA (FM) Sem 3 papers it connects to
Paired lab: None. MFM 205 is a 3-credit core theory paper.
- MFM 203 Financial Derivatives: Unit 1 places the derivatives market within the financial system.
- MFM 209 Strategic Financial Management: Unit 4's leasing, project finance, debt service coverage ratio and special purpose vehicles connect with financing decisions.
- MFM 219 Venture Capital and Investment Banking: The elective expands on Unit 4's merchant banking, venture capital and underwriting topics.
- MFM 207 Entrepreneurship Development and Start-Up: Unit 3's development financial institutions and Unit 4's venture capital stages relate to entrepreneurial finance.
| Group | Papers |
|---|---|
| Training and project | MFM 201 Summer Training Report |
| Analytics | MFM 211 Business Analytics; MFM 227 Business Analytics Lab |
| Online learning | MFM 213 MOOCs |
Other MBA (Financial Management) Semester 3 papers in the supplied scheme
- Group
- Training and project
- Papers
- MFM 201 Summer Training Report
- Group
- Analytics
- Papers
- MFM 211 Business Analytics; MFM 227 Business Analytics Lab
- Group
- Online learning
- Papers
- MFM 213 MOOCs
Who writes and checks the MFM 205 Financial Markets notes?
- Prateek Talwar, author: Founder, Unnati Educations; Associate Company Secretary (ACS), ICSI, membership no. 58704, since 15 May 2019; B.Com, University of Delhi (School of Open Learning), 2012. Author profile
Prateek Talwar is also identified as the reviewer of these notes. The supplied editorial record states that all four units were checked against the MBA (Financial Management) syllabus on 13 October 2026.
The supplied 2026–27 edition discusses the Unified Pension Scheme, Specialised Investment Funds and RBI's 2025 project finance framework. These are regulatory topics for which current implementation dates and rules should be checked before relying on specific details.
Last updated 14 October 2026. See the editorial policy for review and correction information.
Do the MFM 205 notes cover the full GGSIPU syllabus?
The supplied editorial mapping identifies notes sections for all four official MFM 205 units. The source reports complete coverage, but independent topic-by-topic verification against the entire printed book remains pending.
| Official unit | Official topics | Where in the notes | Status |
|---|---|---|---|
| Unit I: Financial Markets | Financial system, money markets, instruments and regulation, central bank role, capital markets, reforms, primary market, book building, corporate debt market, economic development and SEBI | Sections 1–9, pages 5–19 | Mapped in supplied record |
| Unit II: Banking Sector | RBI, commercial banking, banking committees, bank products and balance sheets, NPAs, shadow banking, FinTech, digital currency, CBDC, e-banking, payment banks, inclusion, risks, stability and monetary policy | Sections 1–19, pages 21–37 | Mapped in supplied record |
| Unit III: Financial Institutions | NBFCs, development financial institutions, mutual funds, insurance, IRDAI, Ministry of Corporate Affairs, PFRDA and housing finance | Sections 1–8, pages 40–53 | Mapped in supplied record |
| Unit IV: Financial Services | Merchant banking, venture capital, private equity, factoring, forfaiting, credit rating, underwriting, portfolio management, project finance, stockbroking, leasing, hire purchase and recent developments | Sections 1–10, pages 55–69 | Mapped in supplied record |
MFM 205 official syllabus topics mapped to the notes
- Official unit
- Unit I: Financial Markets
- Official topics
- Financial system, money markets, instruments and regulation, central bank role, capital markets, reforms, primary market, book building, corporate debt market, economic development and SEBI
- Where in the notes
- Sections 1–9, pages 5–19
- Status
- Mapped in supplied record
- Official unit
- Unit II: Banking Sector
- Official topics
- RBI, commercial banking, banking committees, bank products and balance sheets, NPAs, shadow banking, FinTech, digital currency, CBDC, e-banking, payment banks, inclusion, risks, stability and monetary policy
- Where in the notes
- Sections 1–19, pages 21–37
- Status
- Mapped in supplied record
- Official unit
- Unit III: Financial Institutions
- Official topics
- NBFCs, development financial institutions, mutual funds, insurance, IRDAI, Ministry of Corporate Affairs, PFRDA and housing finance
- Where in the notes
- Sections 1–8, pages 40–53
- Status
- Mapped in supplied record
- Official unit
- Unit IV: Financial Services
- Official topics
- Merchant banking, venture capital, private equity, factoring, forfaiting, credit rating, underwriting, portfolio management, project finance, stockbroking, leasing, hire purchase and recent developments
- Where in the notes
- Sections 1–10, pages 55–69
- Status
- Mapped in supplied record
Official reference: MBA (Financial Management) Scheme and Syllabus, 2021-22 onwards.
The official syllabus uses the spelling “Forfeiting”, while the notes use the standard export-finance term “forfaiting” for that topic. The unit page ranges also include revision and practice content beyond the principal topic mapping.
MFM 205 Financial Markets notes FAQs
How do I get the full MFM 205 notes?
Use the WhatsApp ordering button below. The full MFM 205 notes are offered as a 71-page printed English book, not as a downloadable full-book PDF. The sample PDF is a separate preview. Ordering and pricing details are shared on WhatsApp.
What is the passing mark for MFM 205?
MFM 205 carries 100 marks: 25 internal and 75 external. The supplied scheme does not state a specific pass percentage. Refer to GGSIPU Ordinance 11 and the applicable university examination notifications for pass requirements.
Which MFM 205 unit is the longest?
Unit 2, Banking Sector, is the longest by page count and teaching hours. It occupies pages 21–39 (19 pages), contains 19 topics and receives 12 teaching hours. Units 1 and 4 each have 16 pages, while Unit 3 has 15 pages.
Do the MFM 205 notes include numericals?
Yes. The notes include six worked numericals: Treasury bill yield in Unit 1, credit multiplier in Unit 2, mutual fund NAV in Unit 3, and underwriting liability, Sharpe ratio and flat-rate hire purchase instalment in Unit 4. Additional formulas cover NPA ratios, liquidity ratios, DSCR, Treynor ratio and Jensen's alpha.
My MBA (FM) batch joined in 2024–25. Do these notes follow my syllabus?
The notes are mapped to the MBA (Financial Management) scheme labelled 2021-22 onwards, which may apply to a 2024–25 admission batch unless a revised scheme governs that batch. Check whether your applicable syllabus lists Financial Markets, Banking Sector, Financial Institutions and Financial Services as the four MFM 205 units.
Do the MFM 205 notes cover recent SEBI and IRDAI reforms?
Yes. The supplied edition discusses Specialised Investment Funds, corporate bond market changes, finfluencer rules, the Social Stock Exchange and insurance initiatives such as Bima Sugam, Bima Vistaar and Bima Vahak. Some initiatives and regulatory provisions may change, so the latest SEBI and IRDAI publications should be consulted for current applicability.
Get the full MFM 205 Financial Markets and Institutions Notes on WhatsApp
The printed English notes book is listed as 71 pages. Pages 1–4 cover preliminary material, and the four units occupy pages 5–70. The specific content of page 71 is not identified in the supplied record.
| Part | Pages | Topics | Figures | Exam questions |
|---|---|---|---|---|
| Cover and index | 1–4 (4) | — | — | — |
| Unit 1: Financial Markets | 5–20 (16) | 9 | 7 | 17 |
| Unit 2: Banking Sector | 21–39 (19) | 19 | 6 | 19 |
| Unit 3: Financial Institutions | 40–54 (15) | 8 | 5 | 19 |
| Unit 4: Financial Services | 55–70 (16) | 10 | 8 | 20 |
| Unidentified final page | 71 (1; content pending confirmation) | — | — | — |
| Listed book total | 71 | 46 | 26 | 75 |
MFM 205 printed notes: documented pages, topics, figures and exam questions
- Part
- Cover and index
- Pages
- 1–4 (4)
- Topics
- —
- Figures
- —
- Exam questions
- —
- Pages
- 5–20 (16)
- Topics
- 9
- Figures
- 7
- Exam questions
- 17
- Pages
- 21–39 (19)
- Topics
- 19
- Figures
- 6
- Exam questions
- 19
- Pages
- 40–54 (15)
- Topics
- 8
- Figures
- 5
- Exam questions
- 19
- Pages
- 55–70 (16)
- Topics
- 10
- Figures
- 8
- Exam questions
- 20
- Part
- Unidentified final page
- Pages
- 71 (1; content pending confirmation)
- Topics
- —
- Figures
- —
- Exam questions
- —
- Part
- Listed book total
- Pages
- 71
- Topics
- 46
- Figures
- 26
- Exam questions
- 75
The notes also include four solved comparison tables, six worked numericals, unit-wise quick revision tables and six exam-writing tips. The full book is supplied in print rather than as a downloadable PDF.
Delivery: within 5 to 7 days at most; the exact time may vary with your location.
Order the MFM 205 notes book on WhatsApp (4 units, 71 pages)
Unnati Educations is an independent education provider based in Vikaspuri, Delhi. We are not affiliated with, authorised by, or endorsed by Guru Gobind Singh Indraprastha University (GGSIPU). 'GGSIPU' and 'IPU' are used only to describe the syllabus our notes follow. For official information, visit ipu.ac.in.
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