National Seminar on "Indian Financial System: Tactical Issues, Challenges and Scope"

To keep up with the pace of the industry, Department of Management at IMS Ghaziabad University Courses Campus in association with Ghaziabad Management Association (GMA) organized a National Seminar on "Indian Financial System: Tactical Issues, Challenges and Scope" on 19 October 2019 in the college auditorium. Dr Sapna Rakesh, Director, IMS Ghaziabad, University Courses Campus along with other dignitaries inaugurated the session by invoking the blessings of Goddess Saraswati. The seminar was convened in three phases, where the Inaugural session discussed about 'Emerging Prospectives in Fintech', the second session had a 'Panel Discussion on Banking, Financial Services and Insurance', followed by the third session on 'Paper Presentation on Banking, Financial Services and Insurance, Emerging Prospectives in Fintech and Behavioral Finance'. The seminar was studded with the jewels from the industry viz-a-viz Mr Viney Anand, GM - Solutions Architect (F&A) Accenture; Mr Kapil Saraswat, Assistant Vice President, Royal Bank of Scotland; Panel Member - Mr Naveen Kumar Jain, Deputy Vice President, Axis Bank; Panel Member - Mr Umesh Kumar Daila, Head-Delhi NCR, Mirae Asset Global Investments; Panel Member - Mr Gaurav Jain, Area Manager-Delhi NCR, ICICI Prudential. More than 20 colleges and around 50 outside students participated in the seminar. IMSEC, IMS Ghaziabad Lal Quan, Amity University, IIMT Greater Noida, Symbiosis Noida, IPEM Ghaziabad, ITS Mohan Nagar, ITS Greater Noida to name a few.

The Inaugural session on 'Emerging Prospectives in Fintech' was taken by Mr Viney Anand (Chief Guest), GM - Solutions Architect (F&A) Accenture and Mr Kapil Saraswat (Guest of Honour), Assistant Vice President, Royal Bank of Scotland. They gave insights into Emerging Prospectives of Global Fintech. They shared that Open banking is becoming a major source of innovation that is poised to reshape the banking industry, data localization law is spreading globally, ISO 20022 is becoming the industry standard for payments messaging and the relevance of blockchain. They also suggested the customers should take an informed decision, better product, better loans, keeping passwords confidential for better control. They also updated the audience on Bitcoin and Blockchain.

The second session on 'Panel Discussion' was presided over by Mr Gaurav Jain (Area Manager-Delhi NCR, ICICI Prudential), Mr Umesh Kumar Daila (Head-Delhi NCR, Mirae Asset Global Investments) and Mr Naveen Kumar Jain (Deputy Vice President, Axis Bank) as the panelists. Mr Viney Anand (GM-Solutions Architect, F&A, Accenture) acted as the moderator for the same. The panelists touched upon topics like investments in the banking sector, growth of the insurance industry, merger of banks, investments in mutual funds etc. The main focus was on the slowdown of economy, frauds and scams in the banking sector and how the banks would survive this slowdown. Our panelists beautifully explained how some of the latest changes in the banking sector in the way of merger of banks will save cost. They suggested ignoring unnecessary politics and bringing about capital infusion to revive the banking sector. The discussion extended to the latest norms and amendments in the government laws related to the banking sector which is important to make them competent, to have better international dealings and reporting to assure transparency. Further, the discourse talked about the change in technology positively affecting people, is changing the work culture of banks, insurance companies and the environment around us. After this brainstorming session, there was a Question-Answer session in which students curiously participated and cleared all their doubts.

During the third session, 'Paper Presentation' was witnessed. More than 30 presenters participated and discussed the various areas of the financial environment based on their understanding and research being undertaken. The session was divided into presentations on Banking, Financial Services and Insurance sector, Perspectives in Fintech and Behavioural Finance. The topics that were presented ranged from Indian Banking sector, Mergers and Acquisitions, Non-Performing Assets, Financial Inclusion, Investor's mindset and Financial Decisions, Adoption of Technology in Financial Services and many more. Such areas helped the speakers and audience to broaden their horizon of the financial understanding. The paper presentations were highly stimulating that converted into meaningful and constructive discussion taking place on many crucial aspects of the finance market in the country. The paper presentation was judged by Dr. Indrani Bhattacharjee & Prof. Komal Kapoor (Banking, Financial Services and Insurance), Prof. Abhinav Kataria & Prof. Kapil Mohan Garg (Emerging Prospectives in Fintech) and Prof. Aniruddha Ghosh & Prof Shubhro Sengupta (Behavioral Finance). The inputs provided by the senior faculty who were judging the presentations would help the budding researchers to improve upon their research to make a meaningful contribution to the field of study. Dolly Gaur, Ph.D Scholar from Amity University; Vipul Verma from MIB-IMSUC & Vatsala Bhatnagar BBA-IMSUC emerged as the winners in all three categories of presentation and were bestowed with Cash Prize and Best Paper Award. Untiring efforts of Dr. Geeti Sharma (Chairperson-BBA) & Dr. Pradeep Bhardwaj (Asst. Professor and Head, Banking & Finance-Management) made the event a success.

Faculty Coordinators:
Session 1: Prof. Dhruv Sharma, Prof. Abhinav Kataria, Dr. Shilpi Sarna, Prof. Ashish Srivastava
Session 2: Dr. Nidhi Srivastava, Prof. Abhishek Jain, CA Anu Tyagi
Session 3: Dr. Indrani Bhattacharjee, Prof. Kapil Mohan Garg, Prof. Aniruddha Ghosh

Student Coordinators:
Aman Raj (President-Finance Club) along with Team