XIMB Students Discuss Finance with Regional Director of RBI in 'Prativaada'

XIMB Students Discuss Finance with Regional Director of RBI in 'Prativaada'

In its endeavor to increase the level of social awareness among the students and propose solutions to issues that are relevant to the larger community, XIMB initiated 'Prativaada', a debate that grappled with issues pertinent to society and the management discipline. The Chief Guest for the evening was Mr. G. Jagan Mohan Rao, the Regional Director of Reserve Bank of India. He was joined on the judging panel by Dr. Amar Kjr Nayak and Dr. C. Shambu Prasad - both professors at XIMB.

G. Jagan Mohan Rao, Director of RBI, Addressing XIMBians

The issue chosen for the evening was "Financial Inclusion: The Why and How in the Indian context". The relevance of the topic cannot be understated in today's context where the banking industry, despite making significant improvements in all the areas relating to financial viability, profitability and competitiveness, has exuded concerns that it has not been able to include vast segments of the population, especially the under-privileged sections of our society, into the fold of basic banking services.

Two student teams participated in the discussion, of which, team 'Check and Mate' represented the RBI while the second team 'Spartacus' put forth the perspectives of the banks that are responsible for implementing Financial Inclusion (FI). The debate brought out concerns of the banks regarding the profitability with 'no frills' accounts and the simplified KYC (Know Your Customer) norms. They also expressed the inadequacy of infrastructure in the country to take significant measures in implementation of FI.

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Contributed by -
Team Illuminatix,
Media & PR Cell,
Xavier Institute of Management, Bhubaneswar.

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