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Mudrank – The Annual Finance Summit

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siescomsMudrank 2012, the annual summit of financial experts at SIESCOMS, revolved around the theme ‘Re-Engineering Business India towards 2020’. The panel discussion was moderated by the mentor of SIESCOMS, Dr. A.K. Sengupta and the panel comprised of some elite names from the industry, which are as follows:

  • Mr. Ashok Gautam, Senior Vice President and Head Global Markets, Axis Bank
  • Mr. J. Dinakar, GM (Corporate Treasury), BPCL
  • Mr. K.V. Srinivasan, CEO, Reliance Commercial Finance
  • Mr. Manish Bansal, CEO, Value Advisers
  • Mr. S.K.V. Srinivasan, Executive Director, IDBI Bank
  • Mr. Somendra Mattagajasingh, Joint General Manager HRM, ICICI

The panel discussion saw the finance experts sharing their valuable insights and perspectives about the future of particular sections of business industry, and how the scenario would probably be transformed by 2020. Mr. S.K.V. Srinivasan commenced the discussion by talking about the emergence of retail banking and the scope of its growth. He was of the opinion that banks are predicted to make money from the retail and Small and medium enterprises (SME) sector and that a career in retail sector is good as opposed to the traditional approach of career in corporate banking. He also accentuated on the incremental business from rural banking, wherein, he stated that if agriculture is supported by raising credit through SMEs, the economy would grow tremendously.

The next panelist Mr. K.V. Srinivasan, brought to light the demographic advantage of Indiasiescoms over China and also emphasized on the need to empower the youth. He stated that by 2030-35, 25% of the world’s population will be employed by India. In order to sustain such a tremendous growth, primary education needs to be designed in many parts of the country along with secondary and higher secondary education. He subsequently drove home the need to spur entrepreneurship to engender employment opportunities for the youth.

Mr. J Dinakar, expounded on the need to re-engineer Business in India to enable it to emerge as a developed economy by 2020. He attributed the need to re-engineer Business India to various factors such as increasing competition, globalization, greater professionalism, stakeholders influence and necessity to expand the business. He emphasized that, in this task of re-engineering India, it is equally pivotal to maintain and control financial risks and to drive internal efficiency. He also added that in order to increase internal efficiency, the different functions of Marketing, HR, Finance, Operations and others should be treated in an integrated fashion and not independently.

Mr. Somendra Mattagajasingh gave an entirely fresh perspective to the discussion. He said that in order to re-engineer India, we primarily need to re-engineer our mind-set and develop our country by influencing leadership. He added that, as Indians, we need to hone our skills on the varied fronts of boldness, imagination, risk-taking propensity and the likes. He went on to say that once these skills are honed to the right extent and in the right way, India would be able to take on the challenges of the world very effectively. As he siescomsended his speech, he made us ponder on the speed gap between the rate at which the world is changing and the rate at which we change as individuals, and that it is very important to bridge this gaping gap.

 Mr. Ashok Gautam made us realize the importance of cash flow by bringing to our notice that if the cash flow ceases, the banks would probably have to file for bankruptcy soon. He emphasized on the aspects of liquidity risk management, robust treasury governance along with counter-party risk with respect to the performance and functioning of banks. He mentioned that treasury is the first line of defense and also stated some measures on effectiveness of treasury.

Mr. Manish Bansal focused on the problem of the quick depletion of  natural resources and added that, in order to survive we must produce more than what we consume and give more than what we receive. He also stated that sustainability-to-drive-innovation should be taken up in order to continue to exist.

The event culminated in a question and answer session wherein the ambiguities and doubts of the young minds were very skilfully cleared by the experts. Overall the session was very informative, not only about the financial world, but also about the overall global scenario, and how it would possibly transform by 2020. It indeed turned out to be a true learning experience for the future mangers.

With inputs from

Revathi, Ruchika Shrivastava and Sneha Sheth

 


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