Financial Conference

This year, the Union Banking Center for Banking Excellence at Great Lakes organized the 3rd Annual Financial Conference. The theme for the 3rd edition was “Is India hedged against Systemic Risk?”

The recent global financial crises have shown that, the traditional approach of managing the soundness of the banks and other financial institutions needs to be supplemented by a system-wide macro-prudential approach. There is a need for assessing and containing this system wide risk. The global financial crises have also renewed policymakers' interest in improving the policy framework for financial stability. The main objective of this conference was to bring insights on the various issues around financial inclusion from some of the best in the Industry.
Distinguished speakers at the conference:

Dr. K.C. Chakrabarty,
Dy. Governor, Reserve Bank of India
Shri. Suresh Kumar Jain
Executive Director, Union Bank of India

The esteemed panelist comprised of:

  • Dr. Gurbachan Singh, Prof. ISI Delhi
  • Dr. Manoranjan Sharma, Chief Economist and DGM, Canara Bank
  • Dr. Rupa Nege Nitsure, Chief Economist and GM, Bank of Baroda
  • Mr. Brij Raj, Deputy General Manager, Reserve Bank of India

Dr. K.C Chakrabarty in his invigorating keynote address said that any kind of systemic risk was bad and that that the question of hedging does not arise since it would have happened already. Having said that, he also confessed that this is easier said then done and systemic risks can’t be avoided completely. The key, according to Dr. Chakrabarty, was managing it effectively by handling the three challenges faced by our country – high inflation, current account deficit and fiscal deficit.

Further, he spoke about the need for an inclusive economy and said that the banks should reach out to the poor and extend their credit facility to those who needed it. Dr. Chakrabarty was quite optimistic about the future and ended his address on a high note by saying that, India’s young population, lower per capita income, saving economy, less complicated financial system and lower credit penetration will keep it in a good stead in the future.

Shri. S.K. Jain showed confidence in India and said that India is on a solid footing to manage the risks ahead and noted that the Indian banking industry is among the very few who are maintaining a resilience during the ongoing world crisis. He also thanked the RBI’s robust macro-economic policies, due to which our banking system is well placed to take the adversities head on. He felt that the banks can no longer ignore any section of the society and establishing relationships with the customers was of paramount importance. Mr. Jain also said that the banking models have to be rejigged and focus shifted to reaching out to large unbanked people. He finished by saying that India is far away from systemic risk but the youth have to work hard to raise India from its current mediocrity to excellence.

Student Achievements

Akshata Pai and Shashikala Kannan

First place, National Social B plan contest-Kalpavriksha, Ahvan’12, IIM Indore

Anup Pandit, Satish Rajagopalan, Harish Krishnan, Gaurav Bhandari and Sunny Bhambhwani

2nd in the All India Strategy competition, 5 Samurai, the flagship competition at 'Samanvay', DoMS, IIT Madras

Gaurav Bhandari and Jayashree Ramamoorthy

First prize in Battleground-Conquest, strategy competition conducted by IIM-Shillong

Hemant Grover, Jitin Mehndiratta and Namita Joshi

First prize in "HR Cut – Video Making Competition" organized by IIM – Ranchi

Kishore Kumar and Sri Hariharan Subramaniyan

1st prize, Silent Voice ad competition, IIM Shillong

Abhash Nigam, Sathya Udayakumar, Shreya Sharma

3rd position in Circus Maximus event held by the Marketing Association at XLRI (MAXI) during Ensemble 2012 at XLRI, Jamshedpur

Nandita Krishnan, Harish Vijayarangan

Third place, Quest, live case study competition, NMIMS

Kriti Dua & Sankalp Parihar

Regional Winners, 9th National Competition for Management Students, AIMA, Bangalore