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SAMIKSHA: The Panel Discussion at NITIE, Mumbai "The future holds tremendous promise," was the sentiment shared by all at Samiksha, the panel discussion at NITIE deliberating on the "Indian Financial System - Reflections on Reforms and Trends". The latest edition of Samiksha held in the NITIE auditorium on Saturday, 23rd July, saw audience from almost all the B-schools across the city coming over to hear what the people who matter had to say. The event was sponsored by ShareKhan, a leading equity investment advisor in the country. The panel comprised of stalwarts such as, Ian McCoo (CFO & Head of Finance, Lehman Brothers), Anand Shanbaug, (Senior Analyst & Head of Research, HSBC Securities), Atin Saha (Director, Private Wealth Management, Duetsche Bank AG), V. Ravi (CFO, MMFSL) and Sourav Majumdar (Deputy Executive Editor, The Financial Express). The most interesting feature of the discussion was the perception that foreign banks and the global market watchers had about the health of the Indian marketplace. The discussion was initiated with a welcome address by Prof. A. K. Pundir, Associate Dean - Placements. Mr. Sourav Majumdar who moderated Samiksha sketched the broad outlines of the issues that would be addressed in the course of presentations and the panel discussion. He expressed his opinion about the development and present state of the Indian Financial System as an observer of the same for the last 15 years. While extremely enthusiastic about the intent and pace of reforms he emphasized the need for a more reliable and 'high-quality' regulator for the Indian markets. He said that the future will see a small number of big banks with tremendous "balance sheet power" as a large number of smaller banks, both in the private and public sector will come together. Mr. Atin Saha brought in the dimension of the ever increasing importance of the developing countries in the global market, especially that of Brazil, Russia, India and China or the BRIC nations. He foresaw Asia as the engine for growth and complemented it with facts and figures. He said, "By 2010, Asia will be home to 25% of all global corporations, will have 40% of all working population and 1/3rd of all international trade." Delving on the role of the private banks, he said that they will need to follow the 'Family Office Model', wherein all matters with financial implications for a client are served by the banker whether custodial or advisory in nature. He also believed that the need for certified financial planners will increase in the future. Contributed by - |
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