Great Lakes Union Bank 4th Annual Financial Conference held on 3rd September, 2013

Great Lakes Institute of Management held its fourth Annual Financial Conference on 3rd September, 2013. The conference was graced by Dr. Subir Gokarn, Director, Research at Brookings India (Brookings Institution, U.S.A.), Former Deputy Governor, Reserve Bank of India and Mr. Pankaj Sharma, General Manager, Union Bank, Chennai. The guests were received by Dr. Bala V. Balachandran, Founder & Dean, Great Lakes Institute of Management.

Updates The conference served as a research forum for academic scholars, financial analysts, bankers and financial consultants to present their research work on emerging issues in the areas such as Banking & Economics and Finance & Investment. The theme for the event this year was “Emerging issues in banking and finance sector.” Over 70 papers from all across the globe were submitted, of which 15 papers were selected to be presented on the day of conference. Participants from countries like Mexico, Malaysia, Indonesia and Philippines etc took part in the conference which aimed at promoting new and innovative ideas in the field of finance

Bala V. Balachandran, Dean, Great Lakes Institute of Management said, “It is a challenge to face the crisis and that is where our best performance comes out. Every opportunity is disguised in the form of crisis or challenge, this conference is an opportunity to address the crisis we face today. I want to thank everyone of you for your efforts in coming up with ideas of change. I wish this conference be the step into the right direction.”

The keynote speaker Dr. Subir Gokarn Research Director , Brookings India and former Deputy Governor of RBI, talked about Paradigm shift needed in key areas like Monetary policy, Financial regulation, corporate governance and globalization. In order to fulfil the general aim of informing the audience he added that the process needs substantial intellectual input to reinforce or challenge emerging ideas. He illustrated how the change can be brought about by creation of a definite balance between the short term and long term risks, differentiated capital buffers, integrated macro system instead of segmented micro, increased transparency and disclosure to boards and shareholders, simplification of organizational structures. Dr. Gokarn also said, “Every crisis is a mix of challenge and opportunity, challenge to deal with it and opportunity to grow. As a result what we have today is the powerful ensemble of sharp minds who could overturn any given financial crisis.”

To further his stand, Dr. Bobby Srinivasan, former president IFMR and now a full time faculty at Great Lakes talked about the metamorphosis happening around the globe and in India. To illustrate the difficulty in completely understanding the global products in the globalized economy he quoted an example of failure of the Russian bonds. He expressed great displeasure over RBI‘s inability to stay in touch with reality, he added that there wasn’t much expertise available in India to caution us of the subprime Crisis. He encouraged the students to learn the banking system form every perspective possible because a puny bug in the system can lead to a domino effect.

In his speech Mr. Pankaj Sharma, General Manager, Union Bank of India said, “In a dynamic and more complex market one needs to be more proactive. Great Lakes is doing a fine job by pooling not only country’s finest intellects but individuals from all across the globe to present path breaking ideas. I urge each one of you to continue your quest towards innovation.”

Participants presented research findings on topics such as,
a) Banking and Economics – Internationalization, merger and acquisitions, banking regulations and norms & guidelines
b) Finance and Investments – International trade and finance, asset pricing theory, IPOs, VC & PES and market microstructure

Professor S. Sriram, Executive Director, Great lakes institute of Management, gave the vote of thanks. He cited examples of the work done by the guests and about the relevance of the topics delivered. He also mentioned the key issues like depreciation of Indian Rupee, raised during the talk in order to remind the audience of the value of the presentations made.

Student Achievements

Swati Kaul, PGPM, 2013-14 won the Article writing competition

Swati Kaul, PGPM, 2013-14 won the Article writing competition on the theme “GENDER EQUALITY-Are Mars and Venus treated equally in the corporate universe?” conducted at SWIM 2013, Great Lakes Institute of Management, Chennai

‘The Changing Face of Finance Consultancy: Boutique Investment Banks’ has been published in the May, 2013 edition of IIM- Shillong Conquest Magazine (Consulting Club) as ‘featured article’

Ankur Baj of PGDM (2012 - 2014)

Best silent voice entry for the June, 2013 Edition of Markathon-The Marketing Magazine of IIM-Shillong

Pulkit Kohli and Ankur Baj of PGDM (2012 - 2014)

Winner of Ernst and Young Knowledge Quiz

Lathish Venugopal, Viral Patel. More than 2000 teams across India participated in this

Runners up at TATA Crucible Campus Quiz

Lathish Venugopal and Viral Patel.

Article published in March edition of Markathon – Marketing magazine of IIM- Shillong

Kriti Dua and Sankalp Parihar. The article was on Marketing Trends 2013

Winner at Hyundai Global Youth Marketing Camp

Shouvik Das. The event was held in S.Korea and the team comprising of 4 Korean students, 4 Indians and 1 Chinese student won the award for the Best BTL Strategy

Second Prize for Article writing in NMIMS Banking

Namratha and Mahesh. The article was on “Policy expectations for the Indian Economy” and was published in the BankAge Magazine of NMIMS.

First Place- The Clan,IFMR

Krishnan Chidambaram and Hariharan Subramaniyan. The event was Abhyudhaya, the flagship HR event of IFMR. They competed in the finals against teams from K.J. Somaiya, IIT Madras, BIM, Welinkar and LIBA

I Runner up at Goa Institute of Management

Gajendra Sisodia and Kriti Dua. This was a national level case study competition (Samiksha 2013). Total of 127 teams participated in the event

Article published in NITIE’s In-Fin-NITIE

Manshi Gandhi. The article was on “Quantitative Easing”

First prize in case study competition at SIMC

Harleen Wahi and Abhishek Jain. The case study was a real case of declining sales of next gen publishing magazines a unit of Shapoorji Pallonji & Co Ltd. Great Lakes competed with 11 teams in the final campus round with the likes of SIMS,MICA, NITIE, Narsee Monjee,etc