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The Arun Jaitley National Institute of Financial Management (AJNIFM) was set up in 1993 as a registered society under the Ministry of Finance, Government of India. To begin with, it was mandated to train the officers recruited by the Union Public Service Commission (UPSC) through the Civil Services Examination and allocated to the various services responsible for managing senior and top management posts dealing with accounts and finance in the Government of India. In due course of time AJNIFM has become a premier resource center to meet the training needs of the Central Government for the senior and middle levels of management. AJNIFM also caters to State Governments, Defence establishments, Banks, and other Financial Institutions.

AJNIFM plays a pivotal role in governance and administrative reforms by providing a platform for interaction and exchange of ideas & experiences among officers from different organized services, different state governments, and between personnel of civil and defense establishments.

The Union Finance Minister of Government of India is the President of the AJNIFM Society and Secretary (Expenditure), Government of India is the Chairman of the Board of Governors (BoG). The Director, AJNIFM is responsible for the administration and academic programs of the Institute. AJNIFM has a distinct advantage of an amalgamation of faculty from academics as well as from Government. The Academic Advisory Committee of the AJNIFM assists AJNIFM in all matters related to creating, maintaining, and expanding the academic, training, and research environment. This committee also has eminent members from the acclaimed academic fraternity of India. The Management Committee of AJNIFM handles the day-to-day affairs of the institute. AJNIFM undertakes and promotes research/consultancy studies in the fields of accounting, audit, financial and fiscal management, evaluation, economic development, Indian economy, and related subjects.