Continuum
, the rolling seminar series, is the flagship event of the industry interaction
sessions at Shailesh J. Mehta School of Management, IIT Bombay. The Continuums
are held across the various domains of management like Finance, Marketing,
Human Resources, Consulting, Operations and Systems. The Finance Continuum aims
to provide a forum for the exchange of ideas on the latest developments in the
field of Finance by inviting eminent speakers from industry and academia. The
Finance Continuum explores myriad aspects across sectors, by initiating
discussions on issues at the forefront of the industry. Each Continuum consists
of a series of events centered on a particular theme. Eminent
speakers from industry and students of management and engineering institutes
converge for a daylong event consisting of a lecture series followed by a panel
discussion.
Finance Continuum 2012 Finance Continuum 2012 will be organized on 28th July 2012 with a theme reflecting the current trends and challenges faced by finance professionals. The Finance Continuum 2012 will see a series of lectures based on the theme: “Financial innovations for sustainable growth” To innovate, or not to innovate, that is the most burning question being asked in the financial sector, both here in India and in the mature markets abroad. The word financial innovation has become disreputable after the global financial crisis of 2007-09. For India, while innovation has helped in some areas like core sector financing through instruments like infrastructure debt funds, it will not help for overall growth unless backed by proper business model(s). India’s financial sector has seen some major financial innovations in the past decade which have improved payments, savings, investments and risk-bearing activities across the board, and in ways that are convenient and economically beneficial but there is still a long way to go to achieve the target of growth and sustainability through these innovations. As one progresses from innovations meant for consumers–payments, saving and consumer-lending products–on to those serving financial institutions, institutional investors and corporates, to better finance investment and allocate risk, it can mean much complex structuring. With complex instruments, there arises the need for better regulation so as to avoid such crisis we have seen recently. India having one of the best regulatory bodies, SEBI and RBI, has significant opportunities for productive and prudent financial innovation which is needed in order to promote growth along with sustainability in this decade. Indicated below are the suggestive and non-restrictive subthemes for the seminar. · Sustaining Growth through Banking Reforms · NBFCs-Growing Importance as an alternative to Banks · Private Equity and Innovative financing for operating in Emerging Markets · Corporate Bond Market in India: Seeking reforms for revival · Implementing Basel III norms on Indian banks- A necessary evil? · Retroactive taxation proposal- Implications for India’s growth · Financing Infrastructure Development: Recent trends and requisite reforms · Corporate Debt Restructuring In India
Panel Discussion A discussion is the best way to explore all the dimensions of an issue. This panel discussion is aimed at sharing the views and gaining the insights from the eminent business leaders and academia on: Financial Innovation: A Double-Edged Sword?
India's banking system has seen some major financial innovations in the past decade as well as steps to promote financial inclusion, schemes that aim to take banking services to yet-to-be-banked areas.These include mobile and Internet banking, introduction to no-frills bank accounts and business correspondents-individuals or institutions acting as agents of banks in far-flung areas.
But on the flip side, we have also seen that financial innovations- from derivatives to sub-prime mortgages - can cut both ways, as the recent economic downturn led by the mortgage markets has demonstrated. Exotic financial derivatives that masked credit risk contributed to the 2008 meltdown and underlined that financial innovation is a double-edged sword.
However, Innovation is needed both for products and channels, but strictly under regulatory frameworks that can ensure no excessive and individualistic behavior prevails in the markets. Used wisely and honestly, it can promote sustainable market growth, but unscrupulous market participants are capable of wreaking financial and economic havoc in the name of innovation.
While effective regulation is paramount for financial innovation, too much of it can also become a challenge. Is innovation really a double edged sword?
Format of the Panel
Discussion:
The moderator will set the tone for the discussion. This will be followed by views from the individual panelists leading into the discussion. There will be a Q&A session with the audience for the last 15-20 minutes. For Details contact: Archish Gupta T.E Srivatsan Anoop Sherlekar archish.gupta@sjmsom.in srivats.te@sjmsom.in
anoop.sherlekar@sjmsom.in
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