Indian Capital Market experienced rapid progress and reform in the late 1980's. Qualified and knowledgeable professionals in the Indian capital market were in short supply. There was also a felt need to upgrade the knowledge base of the entire market. The erstwhile Unit Trust of India (UTI) sought to fill this gap by establishing an institute that could address these gaps and contribute to the orderly development of the markets.
The UTI Institute of Capital Markets (UTI ICM) came into being as part of UTI in the sprawling, modern, new millennium city, Vashi, Navi Mumbai. It was inaugurated by the then Hon'ble Union Finance Minister Prof. Madhu Dandavate on June 22, 1990. Subsequently, the name of the Institute was changed to Indian Institute of Capital Markets reflecting its changed profile in its quest to become an institute of national importance.
The Institute started its early Professional Development Programme (PDP) known as 'Fund Manager's course in January 1990. With a view to providing academic character and operational independence, the management of UTI decided to hive-off it as an autonomous separate organization. As a result, the UTI ICM became a trust under the Bombay Public Trust Act, 1950 on March 6,1993 and a separate society registered under the Societies Registration Act, 1860 on June 25, 1992. It is governed and managed by distinguished academicians and market professionals, eversince.