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

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

From the RBI's perspective, several creative yet low-cost models were suggested to these banks. For example, banks could provide financial services like loans, accounts, etc., to Self Help Groups to minimize the risk of default. Partnering with microfinance institutions in order to offload risk is another model the banks can follow. Use of IT to reduce transaction costs

and their increased profit margins was also suggested. However, it was emphasized that banks need to see FI as an opportunity to expand their customer base and not as a liability. The discussion grew interesting further when doubts regarding the viability of these models were raised.

Jagan Mohan subsequently addressed the audience and extolled the importance of FI, "In a nation where economic growth had to be inclusive and with a human face, financial inclusion cannot be neglected." He also informed the students about recent directives of the RBI to reduce the paperwork involved in KYC norms. He emphasized the need to make people aware of the benefits of FI and pointed out measures RBI has taken in this regard like daily live shows on FI being telecast on Doordarshan being one of them. He also urged the student community to help facilitate the spreading of awareness of FI.

Teams Participating in 'Prativaada 2007' at XIMB

The 'Check and Mate' team was judged as winners of the debate. The evening concluded with Mr. Rao giving away prizes to the winning team.

Concluded.

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

MBA Alumni \| MBA Students \| MBA Aspirants \| MBA Forums