CFA, CA, CMA, FRM, and NISM modules deliver real shortlist value for finance placements at new IIMs while online Coursera certificates add minimal weight. The OP explicitly recommended NISM (credible) and said online Coursera courses work only as "keywords" on CV but do not drive shortlists. A commenter accurately noted "professional certifications (CA, CFA, PMP etc) count.
These online video based ones are not valued much." For finance roles at new IIMs (Kashipur, Ranchi Rs 14L fees Rs 17 LPA avg, Trichy, Udaipur), the hierarchy is: CA Final > CFA L3 > CFA L2 > CFA L1 > FRM > NISM modules > generic online courses. CFA L1 before joining gives you a 2-level edge over peers in SIP shortlists, especially for equity research, asset management, and corporate finance roles.
NISM modules (specifically XV Research Analyst, VIII Equity Derivatives, XA Investment Adviser) are cheap (Rs 1,500-2,000 each), take 15-20 hours, and show genuine finance interest during SIP interviews. Skip: Udemy courses, random LinkedIn Learning certs, one-week bootcamps. These do not fool placement committees.
If you are an engineer with zero finance background targeting finance SIP at a new IIM, clear CFA L1 before joining + do 2 NISM modules in first trimester + grab any equity research live project via Unstop/Internshala. For the OP's own journey, staying in top 25 percentile CGPA + relevant certifications + early SIP placement = 16.5 LPA finance outcome.
Check your eligibility at collvera.