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THE FINANCIAL QUOTIENT
TABLE OF CONTENTS 1
Intro
2
Editors say
3
Article 1: Food Bill
4
Article 2: Regulatory policies for the participation of Banks in Commodity Future Trading
5
Article 3: GDP
6
Article 4: CSR
7
Article 5: FDI
8
Events page
9
Findrome Newsletter
INTRODUCTION FINDROME – the finance cell of NMIMS University’s Mukesh Patel School of Technology Management and Engineering (MPSTME) is a students’ body which organizes events and activities such as workshops, guest lecturers from industry experts, business quiz, virtual stock market, management simulation games, case study competition, panel discussions etc in financial domain round the year. Such events and activities keep students abreast with latest happenings in corporate and financial world. FINDROME was launched in the academic session of 2008 -09 by two students of the Class of 2010 MBA (Tech.), Shahid Hussain and Anushree Goyal under guidance of Mr. P K Garg, the then Dean – Technology Management and Prof. Supriyo Ghatak with the aim of conducting activities and events that promote a culture to understand finance, equip students with the requisite financial expertise and help them make effective contribution to the growth of the corporate world from now. Prof R.C Agarwal, the prevailing Dean of MBA-Tech has been looking after the reins of FINDROME for over 3 years now. Under his austere guidance, we have flourished as a financial body. Following our penultimate objective of bringing all the updates from the financial domain at your disposal, thus armoring our people in building the quintessential financial intellect; we’ve only been growing stronger and shall strive to achieve par excellence. The current skeletal structure of FINDROME is as follows: Chairperson
- Prof. R.C Aggrawal
Faculty guide
- Prof. Abhay Kumar
President
- Mrudul Neralla
Vice-President
- Shivam Gupta
Editorial and Creative Head
- Kankana Dutta
Marketing Head
-Akshit Jain
Finance Head
-Suraj Mehta
Corporate Communication Head
-Kritika Suri
EDITOR’S CHOICE: “THE GREAT INDIAN POLITICS”
Greetings, There has been a lot of talk on the imminent political elections and the aftermath of which caught my attention. As everyone would know the two prospective prime ministerial candidates for our democracy are: Rahul Gandhi and Narendra Modi, the two representatives of UPA-led Congress and BJP respectively. Not indulging myself in the great debate of who among them is the prime candidate for taking over the reins of our country, a discussion best left to the two eminent economists, the Nobel laureate Amartya Sen (who has a new found affection for Rahul Gandhi) and his colleague and critique Jagdish Bhagwati (who is said to have been an intellectual mentor to Modi); what I really want to bring to your attention is the microscopic view of the upheaval of some of these politically-led decisions and the impact that it has had on the lives of the common people, something not great enough to be fought about.
One of the many, the Mid-day meal tragedy in Bihar, in which serving of adulterated food claimed the lives of 23 children on July 16, 2013, is now being considered the work of opposition says Bihar Chief Minister Nitish Kumar. The contamination in the cooking oil for the food appeared to be deliberate, as quoted by Kumar. If the reports are to be believed, The Mid-day meal programme meant for the poorest of the poor children for whom one meal a day is incentive for attending school, becoming a subject for political rivalry to quench the incessant power hunger, is a sorry state of affairs. To fathom this act is inconceivable. It’s a sincere hope our Indian Leaders shall rise beyond their petty political issues and stop making us their targets to realise the realm of the developing Indian Society which thrives on the betterment of people.
NATIO NAL FOOD S ECURITY BILL, 2013: A BO O N O R A BANE
The whole Parliament has remained on its toes on the issue of the Food Security Bill with the Congress especially leaving no stone unturned to see it through. Surely, the most important national effort to address the stigmas of society, comes at a time when ministerial elections are round the corner.
The National Food Security Bill which was passed on July 4, 2013 as an ordinance and aims to provide adequate quantity and quality of food at affordable prices. It proposes a provision of 5kg of foodgrains per person per month at subsidised prices from state Government under the targeted Public Distribution System.1 The salient features of this bill are: The priority households (46% in rural areas and 28% in urban areas) are to have a monthly entitlement of 35kgs (equivalent to 7kgs per person) at a subsidized price of Rs. 1 per kg for millets, Rs. 2 per Kg for wheat and Rs. 3 per Kg for rice and The general households (39% rural and 12% urban in phase 1 and 44% rural and 22% urban in final phase) to have a monthly entitlement of 20kgs (equivalent to 4 Kgs per person) at a price not exceeding 50% of the current Minimum Support price for millets, wheat and rice. (Report of the Expert Committee on Food Security Bill, 2013) This large historic move undertaken for the first time ever, is a valiant effort to tackle the incessant hunger of the poor, women and children across the nation. According to the Government, the bill covers two-thirds of our 1.2 billion2, population which is a near universal coverage. However, State-wise
1 The National food security bill,2013: The Hindu 2 According to Global Hunger Index - IFPRI
coverage will be determined by the Central government.
A commendable feature is a special focus on the nutritional support to women and children. Pregnant women and lactating mothers, besides being entitled to nutritious meals as per the prescribed nutritional norms will also receive maternity benefit of at least of Rs 6,000. Children in the age group of 6 months to 14 years will be entitled to take home ration or hot cooked food as per prescribed nutritional norms. (Report of the Expert Committee on Food Security Bill, 2013) Identifying the beneficiaries also becomes critical as the richer households will not be entitled to this scheme. In spite of the pervasive optimism, there are still a few grey areas that need to be cleared. One of them is the widening fiscal deficit that shall come into picture. The broadening gap with respect to the Government’s procurement prices for these articles with the subsidized sales for this massive a population comes out to be a massive 1.3 lakh crores3 per year which shall increase the subsidy burden and add to our woes. The procurement by the government of such huge quantities of the articles namely: rice, wheat, and other grains would impact its availability in the open market, thereby rising food prices. A year of low product shall inflate the aggravation and would necessitate procurement through imports, which in turn will again push prices up.
3 Source: What Food Security Bill means for India's
subsidy burden by Dhanraj Bhagat
The scheme’s current system of distribution shall be through “fair price shops”4 spread across the country. The involvement of logistic issues such as picking up the food from the source, storage and onward transportation, add to the complexities. Leakages on account of pilferage, rotting of grains and logistics inefficiencies account for nearly 40% to 50% of the total food stock. If this trend is to continue the resulting incremental losses on account of additional procurement under the Bill would be something we as a nation wouldn’t be able to afford. To overcome the inefficiencies in the distribution of grains, substantial investment would be required in creating infrastructure like warehousing and storage facilities, roads, improving rail connectivity etc. Though this could create a huge opportunity for the private sector which could turn out to be one of the catalysts for a renewed economy, the pace of the development would come under scrutiny. Though a herculean effort, it has widely been condemned as a political gimmick and also been targeted as an aid for inflation. It remains to be seen if this economically salient act to address the hunger of millions of people falls short of our expectations or not.
4 “Fair price shops”: means shops which have been
licensed to distribute essential commodities by an order issued under Section 3 of the Essential Commodities Act, 1955 to the Ration card holders under the Targeted Public Distribution System
According to the National Family Health Survey 2005-06, 40.4% of children under the age of three are underweight, 33% of women in the age group of 15-49 have a body mass index below normal and 78.9% of children in the age group of 6-35 months are anaemic.
REGULATO RY POL ICIES FOR THE PARTICIPA TIO N OF BANKS IN COMMO DITY FUTURES TRA DING . The Section 8 of Banking Regulation Act clearly states that no bank shall “directly or indirectly deal in the buying or selling or bartering of goods, except in connection with the realisation of security given to or held by it.” However, banks are allowed to finance commodity business and provide fund and non-fund-based facilities to commodity traders to meet their working capital requirements. Banks also provide clearing and settlement services for commodities derivatives transactions. In India, banks can also own a stake in the commodity exchanges. For instance, several banks (e.g., State Bank of India and HDFC Bank) own a stake in the Multi Commodity Exchange (MCX). But banks cannot trade in commodities themselves. In the aftermath of the global financial crisis, the push for amending the Banking Regulation Act has gained new impetus. In a post-crisis world, big international banks are shifting their focus to Asian markets (such as India and China) which are considered to be the “new engines” of economic growth. For these banks, a largely untapped Indian commodity futures market offer enormous profit-making potential. In 2009, Bank of Nova Scotia sought permission to set up a whollyowned subsidiary to trade agricultural goods and metals on the MCX and National Commodities and Derivative Exchange (NCDEX). But the proposal was rejected by the Reserve Bank of India (country’s central bank) as per the provisions of the Banking Regulation Act.
Banks’ entry into commodity futures trading could turn out to be a risky proposition for several valid reasons. To begin with, the commodity futures market in India is still in its nascent stage of development and therefore the existing regulatory environment cannot handle the sudden entry of big financial players such as banks. Unlike equity markets regulator, the commodity trade regulator (Forward Markets Commission- FMC) is toothless and has weak regulatory powers to ensure fair trading in commodity exchanges. The FMC does not have any statutory power for compulsory registration of traders and brokers which makes it difficult to monitor and supervise traders. There are plenty of instances where the FMC failed to curb malpractices (such as parallel illegal trading) and prevent excessive speculative activities which distorted the price discovery and hedging function of commodity future markets. In addition, the existing penalty provisions are grossly inadequate and not in tune with current trading volume in the Indian commodity derivatives markets. It may sound astonishing that FMC — regulating billions of dollars worth of commodity trade — has no powers to directly impose a financial penalty on the traders. At present, only a maximum penalty of Rs.1000 ($18) can be imposed on traders by FMC, and that too through court orders on conviction. A financial penalty of mere Rs.1000 (enforced through lengthy court process) does not act as a deterrent for
potential offenders in the commodity markets. Under the Forward Contracts Regulation Amendment Bill (2010), the government has allowed FMC to impose financial penalties to a minimum of Rs.25000 ($450) and in some offences (such as insider trading) up to Rs.2500000 ($45000). The proposed Bill is still under discussion. Given the fact that FMC is unable to effectively monitor and supervise the existing non-financial players, it would require considerable time, resources and technical expertise to deal with the high trading volumes which the entry of banks into commodity trading would bring about. Furthermore, this policy change is contrary to the positions India has taken at various international forums. Not long ago, India’s former Finance Minister, Pranab Mukherjee, voiced concern at G20 over the growing influence of “financialisation� behind the increase in the level and volatility of global oil prices. At a time when the Indian banks are struggling to raise fresh capital of Rs.4750 bn ($88 bn) before March 2018 to meet the Basel III requirements besides fulfilling mandatory financial inclusion and priority lending targets, such a move could divert resources from developmental banking to speculative trading activities which may weaken the otherwise stable banking system in the long run. For New Delhi, the first priority should be to remove structural bottlenecks in the agrarian economy and improve efficiency of the underlying spot markets in cooperation with state governments.
Source: assetgold.com
GROSS DOMESTIC PRODUCT
Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. GDP per capita is often considered an indicator of a country's standard of living; GDP per capita is not a measure of personal income per capita .GDP is related to national accounts, a subject in macroeconomics. GDP is not to be confused with gross national product (GNP) which allocates production based on ownership. GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare . After the Bretton Woods conference in 1944, GDP became the main tool for measuring a country's economy. GDP is commonly used as an indicator of the economic health of a country, as well as to gauge a country's standard of living. Critics of using GDP as an economic measure say the statistic does not take into account the underground economy - transactions that, for whatever reason, are not reported to the government. Others say that GDP is not intended to gauge material well-being, but serves as a measure of a nation's productivity, which is unrelated. India's economy began a feeble recovery in the first quarter of 2013, but weak private consumption, capital investment and slowing public spending offered little hope for a fast rebound in coming quarters. Asia's third largest economy grew an expected 4.8 percent from a year earlier in the JanuaryMarch quarter, slightly faster than an upwardly revised 4.7 percent growth in the previous three months, which was the lowest in fifteen quarters.
But the better headline GDP number was largely down to a statistical base effect rather than any substantial improvement in economy. This is disappointing for an economy that recorded 9 percent annual expansion until two years back and was widely expected to be one of the main drivers of the global economic recovery. It also poses a challenge for the octogenarian Singh to generate enough employment opportunities for a young, growing workforce. In a sign of underlying weakness in the economy, April infrastructure output growth slowed down to 2.3 percent year-on-year from 3.2 percent expansion in March. Infrastructure output measures items such as coal, oil, steel and electricity and accounts for 37.9 percent of India's industrial production, which grew just 1 percent in 2012/13 and was largely responsible for the overall growth slowdown. The Reserve Bank of India's (RBI) has cut its policy rate by a total of 75 basis points since January to spur economic recovery. But the GDP data dampened market hopes for another interest rate cut at the central bank's policy review on June 17, sending the federal bond yield to a two-week-high of 7.49 percent. The 10-year bond ended the day flat at 7.44 percent. Indian shares fell more than 2 percent and the Indian rupee hit its lowest level in 11 months as hopes for another rate cut faded next month. The RBI has warned that upside risks to inflation and a high current account deficit have limited room for more monetary easing even
though inflation is on a downward trajectory and economic growth remains weak. "The central bank has been hawkish on inflation, and only if there is a sharper-thanexpected decline in inflation can we see a little bit more aggression on part of the Reserve Bank of India," said D.K. Joshi, chief economist at CRISIL. Singh's minority, coalition government has been weakened by a series of scandals linked to allocation of resources, including coal and telecoms. Opposition parties' attacks on the government have paralyzed parliament, delaying legislation aimed at attracting funds to lift capital investment growth from an eightyear low. The Gross Domestic Product (GDP) in India was worth 1847.98 billion US dollars in 2011. The GDP value of India represents 2.98 percent of the world economy. GDP in India is reported by the The World Bank Group. Historically, from 1960 until 2011, India GDP averaged 368.8 USD Billion reaching an all-time high of 1848.0 USD Billion in December of 2011 and a record low of 36.6 USD Billion in December of 1960. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. On expected lines for the government, though disappointing for India Inc., the country’s GDP (gross domestic product) growth rate slid to 4.8 per cent in the fourth quarter (January-March) on account of dismal shows by the three major sectors — agriculture, manufacturing and mining — to end the entire 2012-13 fiscal year at the decade’s lowest expansion at 5 per cent. Having notched up growth rates of 5.4 per cent in the first and 5.2 per cent in the second quarter of 2012-13, the 4.8 per cent increase in the fourth quarter, which though a tad higher than the 4.7 per cent growth in the third quarter, was significantly lower than the 5.1 per cent expansion achieved in the January-March quarter of 2011-12 when GDP growth for the entire financial year was 6.2 per cent.
Source: Economic Times
M A N D A T O R Y C S R S P E N D I N G : T H E C O M P A N I E S B I L L
The Companies Bill re-introduced in Parliament has specified that 2 per cent of net profit of every company must be spent on CSR. In my view, philanthropic CSR activities should not be mandatory. If so, CSR becomes an add-on to ‘business as usual’ and does not imply a different way of doing business. What needs to be done is to develop a culture to promote voluntary CSR. Similar views are shared by WIPRO chairman, Azim Premji: "I don't think you generate CSR by putting statutory requirements. I think there is enough social consciousness among the larger companies to drive it on the basis of what they consider their responsibility," he says (Vijayaraghavan, 2011).1
“We met 703 people and we see a lot of enthusiasm in Indian corporates about philanthropy. I am quite optimistic that these families will do extraordinary things with the good fortune they have received," Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, said at a press meet held after consultations with Indian corporates on the need to donate liberally for social causes. "It's clear there's some great thinking going on about philanthropy. India has historically produced some of the most important philanthropists the world has known. I'm certain it will continue to do so again," said Bill Gates, co-chair of the Bill & Melinda Gates Foundation, and chairman of Microsoft Corp.
In March 2011, India witnessed the arrival of two of the biggest business and and philanthropic leaders, for the noble cause of promoting CSR. Both Bill Gates and Warren Buffet were in Delhi to urge Indian industrialists to join their philanthropic efforts. Over their breakfast and lunch meetings, Buffett and Gates interacted with Adi Godrej of Godrej Industries and Max Group chairman Analjit Singh regarding the scope of philanthropy.
According to me, the several concerns with mandatory CSR are: One of the biggest is the anticipated rise in green washing. The second is the creation of a monitoring body to oversee the implementation of mandatory CSR. The third is that the bill covers a very small section of the private sector. The additional cost of 2% could further cut into their margins which are already slim. There are arguments therefore; that the imposition of mandatory CSR might see the decline in private industries and the small, medium scale sector could be severely affected. Many corporate have raised the issue of tax benefits for the amount they spend on CSR.
The campaign entitled "The Giving Pledge" is an effort by the duo to invest in philanthropic causes aimed at social development. Started last year in USA has been successful in attracting 592 wealthy US citizens to take the pledge. According to Buffett, people in the US are opening up to the idea that once their needs are satisfied, any surplus could be put to use for the betterment of others.
1 VIJAYGHARVAN A. (2011, MARCH MONDAY), JUSTMEANS WEEKLY, PG.1 2 VIJAYGHARVAN A. (2011, MARCH MONDAY), JUSTMEANS WEEKLY, PG.1
Legitimizing controlled CSR activities should be the focus of the government. Creating a culture of CSR and ensuring that firms include
3 VIJAYGHARVAN A. (2011, MARCH MONDAY), JUSTMEANS WEEKLY, PG.1
Non financial risk assessment in their annual reports is the best way to propagate an awareness of corporate responsibility. There are simpler ways to incentivize Companies to contribute to CSR than to add bureaucratic mechanisms like CSR Committees and mandatory CSR. A simple tax based incentive scheme might have worked much better. Responding to a question on the government's plan to make it mandatory for corporates to spend 2 per cent, Mr. Premji was quoted as saying, "My concern is that you get legislation...and a lot of abuse takes place from that legislation in terms of what you define as CSR and what you define as branding. I would be against it," (Azim Premji against law on mandatory CSR spending by corporates, 2011)4 He, however, said that the government is welcome to issue such a proposal "as a guideline rather than as a mandate or rather than as legislation." India Inc has been opposing the proposed move to fix a threshold for CSR spending in the legislation. Minister for Corporate Affairs Murli Deora had earlier said the government is willing to have a discussion on the matter with industry. "I think the government is also weighing that seriously in terms of how they can encourage it rather than how can they compel it," Premji said. The Chairman of the Piramal Group also opined that CSR need not mandatory. "Most people today are living better lives than what their forefathers did. So, I think we should encourage philanthropy but I don't think it should be mandatory," he said.
4 Azim Premji against law on mandatory CSR
spending by corporate, 2011, Economic times.
Warren Buffet, Melinda Gates and her husband Bill Gates in India to promote their campaign “The Giving Pledge� Source: www.causebecause.com
FOREIGN DIRECT INVESTMENT
Foreign direct investment (FDI) is a direct investment into production or business in a country by a company in another country, either by buying a company in the target country or by expanding operations of an existing business in that country. Foreign direct investment is in contrast to portfolio investment which is a passive investment in the securities of another country such as stocks and bond. Foreign direct investment has many forms. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations and intracompany loans. In a narrow sense, foreign direct investment refers just to building new facilities. The numerical FDI figures based on varied definitions are not easily comparable FDI inflows to India remained sluggish, when global FDI flows to EMEs had recovered in 2010-11, despite sound domestic economic performance ahead of global recovery. The paper gathers evidence through a panel exercise that actual FDI to India during the year 201011 fell short of its potential level (reflecting underlying macroeconomic parameters) partly on account of amplification of policy uncertainty as measured through Kauffmann’s Index. FDI inflows to India witnessed significant moderation in 2010-11 while other EMEs in Asia and Latin America received large inflows. This had raised concerns in the wake of widening current account deficit in India beyond the perceived sustainable level of 3.0 per cent of GDP during April-December 2010. This also assumes significance as FDI is generally known to be the most stable component of capital flows needed to finance the current account deficit. Moreover, it adds to investible resources, provides access to
advanced technologies, assists in gaining production know-how and promotes exports. A perusal of India’s FDI policy vis-à-vis other major emerging market economies (EMEs) reveals that though India’s approach towards foreign investment has been relatively conservative to begin with, it progressively started catching up with the more liberalized policy stance of other EMEs from the early 1990s onwards, inter alia in terms of wider access to different sectors of the economy, ease of starting business, repatriation of dividend and profits and relaxations regarding norms for owning equity. This progressive liberalization, coupled with considerable improvement in terms of macroeconomic fundamentals, reflected in growing size of FDI flows to the country that increased nearly 5 fold during first decade of the present millennium. Though the liberal policy stance and strong economic fundamentals appear to have driven the steep rise in FDI flows in India over past one decade and sustained their momentum even during the period of global economic crisis (2008-09 and 2009-10),the subsequent moderation in investment flows despite faster recovery from the crisis period appears somewhat inexplicable. Survey of empirical literature and analysis presented in the paper seems to suggest that these divergent trends in FDI flows could be the result of certain institutional factors that dampened the investors’sentiments despite continued strength of economic fundamentals. Findings of the panel exercise, examining FDI trends in 10 select EMEs over the last 7 year period, suggest that apart from macro fundamentals, institutional factors such as time taken to meet various procedural requirements make significant impact on FDI inflows.
SINGLE BRAND Single brand implies that foreign companies would be allowed to sell goods sold internationally under a ‘single brand’, viz., Reebok, Nokia and Adidas. FDI in ‘Single brand’ retail implies that a retail store with foreign investment can only sell one brand. For example, if Adidas were to obtain permission to retail its flagship brand in India, those retail outlets could only sell products under the Adidas brand and not the Reebok brand, for which separatepermission is required. If granted permission, Adidas could sell products under the Reebok brand in separate outlets.
to Indian consumers. The new policy will allow multi-brand foreign retailers to set up shop only in cities with a population of more than 10 lakhs as per the 2011 census. There are 53 such cities. This means that big retailers can move beyond the metropolises to smaller cities. The Foreign retailers will be required to put up 50% of total FDI in back-end infra-structure excluding that on front-end expenditures. Expenditure on land cost and rentals will not be counted for the purpose of back-end infrastructure. Big retailers will need to source at least 30% of manufactured or processed products from small retailers. The government will go for surprise checks and if found irregularities then the deed will be broken with
MULTI BRAND FDI in Multi Brand retail implies that a retail store with a foreign investment can sell multiple brands under one roof. Opening up FDI in multi-brand retail will mean that global retailers including Wal-Mart, Carrefour and Tesco can open stores offering a range of household items and grocery directly to consumers in the same way as the ubiquitous ’kirana’ store. There has been opening of Indian economy to foreign organization for foreign direct investment through organized retail. The union government has sanctioned 51% foreign direct investment in multi-brand like Wal-Mart, Carrefour, Tesco and upto 100% in single brand retail like Gucci, Nokia and Reebok. This will make foreign goods and items of daily consumption available locally, at a lower price,
a second of time. Home grown retailers have not muscles and the reach to go for the big game like Subiksha and Vishal Retail. They have expanded their retail chain but did not have the resources to manage the backend across several cities. If we look rationally at the FDI in retail sector then it will be a win-win situation for all.
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Source: I analysis.blogspot.com
Findrome , the Financial cell of Mukesh Patel School Of Technology Management & Engineering (NMIMS University) is the brain child of MBA (Tech) students and provides impetus to those aspiring careers in the financial industry since its inception in 2009.It is headed by Prof R.C Aggarwal (Former Director Central Bank, currently Chairperson MPSTME).The veracity of our brand lies in our past success and achievements over the years and we still continue climbing the ladder of ascent through seminars, workshops, debates, Corporate Talk Shows, Panel Discussions, newsletters and many more. The events held are mentioned in a chronological order.
1. Panel discussion on-“Opportunities, threats and Future for Microfinance in India” in association with Times of India Date: 16/10/2010 A panel discussion was held as our flagship event. The panel included various personalities from the field of banking and finance. It was presided over by-
1. Mr. Kishore Kumar (Country Head Investment Banking and previous All India Head Microfinance-HDFC) 2. Mr. Dewang Neralla (Director, Financial Technologies)
It also witnessed the presence of the then AGM of SBI and the GM of SIDBI. The footfall was 500+ with post event coverage by our trimester magazine of the college “Pulse “and the Annual Magazine “Verve”.
The other events included guest lectures and seminars on investment banking, basic treasury management, basics of finance etc. Many competition events like The Big Fight-debate competition, case study competition, Be-Adventurous- a marketing simulation game as part of our all the year round activities were held the year round.
2. Panel discussion on the topic– “Changing Global Economic Scenario and Its Impact on India” in association with Bank o f I n d ia Date: 6/01/2012 In association with “Bank of India” with NMIMS University’s MPSTME FINDROME’s Panel Discussion saw the list of panelists: 1) Mr. Ajay Bagga (Managing Director and Head, Private Wealth management at Deutsche Bank) 2) Mr. Venkatraman (CEO, MCX-SX) 3) Mr. Anil Sharma (Investment Director, Aditya Birla finance) The Expected foot fall for the event was 500+. The invitation were sent to all the major Bschools across Mumbai and the event was attended by the likes of parents of the college student, the entire faculty of NMIMS, working executives, HR personals of various companies, the alumni of NMIMS and the major recruiters from the college.
3. Seminar and Workshop on Analytics Date: 13/9/2012 Footfall: 100-150
FINDORME started its year with 2 very educational sessions on analytics. The topics that were covered in the seminar included: x MS Excel. x Macros x SPSS and SAS The very successful seminar was followed by a workshop on the same topics, so that the students could gain practical knowledge of the same.
4. IDFC Seminar Date: 24/11/2012 Footfall: 100-150
Fun-filled interactive session, kick-started with a short film titled '"One Idiot" . The film motives young minds to begin the journey of investing and saving as early as possible. The message was conveyed in a very subtle manner with an amalgamation of comedy and teen-drama. The keynote speaker Mr KalpenPareikh, All India CEO, IDFC Mutual Funds dazzled the audience with his success mantras. From tips and tricks on investing, mutual funds, stocks to gold he gave an in depth insight to the keen listeners who were stupefied by the gamut of knowledge he imparted.
5. Kotak Seminar: Date: 30/11/2012 Footfall: 100-150 The very knowledgeable and interactive session by Mr.Kamlesh Rao, the Executive Vice President and All India Head of KotakPrivi, gave the listeners a valuableinsight on the following topics: x x x x
Careers in Banking Asset and Income Allocation Financial and Banking Frauds Start-ups
6. BNP Seminar Date: 01/12/2012 Footfall: 100-150
The seminar by Mr.Ramabhadran BK, Cofounder of NCDEX and Head of Operations and Principal Officer of PNB Paribas, spoke on the very educational subject of Economy and Capital Market.
7. Stocks Seminar Date: 06/12/2012 Footfall: 100-150 The seminar was conducted by VikasSinghania, enlightening the audience on the very important concepts of hedging and stock market analysis The last 4 events were in collaboration with Colloquium, the student-industry interface at MPSTME.
Apart from these the other events organized were- Essay writing competition, Knowledge partnership program, Quiz, Debate and Seminar on: -
Finance and CURRENCY TRADING
8. News Brief ‘The Bottom Line’
Findrome has also launched a weekly News Brief ‘The Bottom Line’ covering all the important Corporate and Economic happenings of every week. The copy of the news brief is circulated via emails to all the students and faculty of college every week.