IFMR is established at a pivotal moment in India’s journey, with a focus on advancing financial research, management and executive education, following an initiative led by the Industrial Credit and Investment Corporation of India (ICICI). ICICI provides seed capital, with the C. M. Kothari Charitable Trust joining as a co-sponsor and institutions across banking, industry and the public sector contributing to its establishment.
Madras, now Chennai, is a deliberate choice. IFMR is conceived as an all-India institution serving both public and private sectors, connecting research with practice and India with the wider world. Its first training programme is inaugurated in 1971, and the University of Madras subsequently recognises IFMR for doctoral research in finance.