Gnosis 2016 – Annual Finance Symposium

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Gnosis 2016 – Annual Finance Symposium

The Finance Association of XLRI hosted GNOSIS 2016, XLRI’s Annual Finance Symposium in Mumbai on the 5th of November at The Westin, Mumbai. The symposium is hosted every year by XLRI to promote a platform for interaction between academia and industry leaders to discuss relevant issues and challenges faced by the industry as well as finding solutions to them.

P S Jayakumar, MD & CEO, Bank of Baroda delivered the Key Note Address at this year’s summit on “Changing Landscape of Banking and Financial Services”. This was followed by a panel discussion on asset quality challenges and capital adequacy issues faced by Indian Banks by 4 eminent panelists including Ananth Venkat who heads the Corporate and Institutional Clients business for South Asia at Standard Chartered; Mr. K P Nair, Deputy Managing Director, IDBI Bank; Mr. Ajay Mahajan, who heads the Corporate Banking function at IDFC Bank Ltd; and Retd Deputy MD of State Bank of India, Mr. M G Vaidyan who looked after the Stressed Assets Portfolio of India’s largest bank. Ms. Ira Dugal, Deputy Editor at Bloomberg Quint moderated the discussion, which saw these top bankers discuss at length various issues they keep facing in addressing these challenges faced by the system.

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Rahul Shukla, Managing Director and Head for Citi Bank’s Corporate Banking Function in India addressed the audience which composed of corporate delegates from more than 10 different banks as well as students from other b-schools in Mumbai participate in huge numbers. Mr. Shukla spoke on the emergence of FinTech and how banks need to adapt and integrate it into their functioning. “This is the best finance conference I’ve ever been to” said Shukla.

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The second half of the day was as exciting and worth looking forward to with Samit Ghosh, Founder & CEO, Ujjivan Financial Services being a Special Guest Speaker on MFIs and Small Finance Banks. He talked about how Ujjivan and other NBFC MFIs are catering to the needs of the underserved and unserved population of the country who do not have access to traditional banking channels.

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A second panel discussion on Financial Technology startups saw founders and senior management from Paytm, Bank Bazaar.com, Heckyl Technologies, Faircent.com and FundsIndia take the dais to talk about what is it that FinTech startups are doing differently from existing services providers and how do they plan to scale up their existing businesses to achieve economies of scale and start generating healthy returns.

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The highlight of the day was the ‘GNOSIS Excellence Awards’ ceremony which saw XLRI Alumni and industry veterans Surojit Shome, CEO DBS India; Sandeep Bakhshi, ICICI Prudential Life Insurance; Ananth Venkat, Standard Chartered; Madhavi Lall, Deutsche Bank; Deodutta Kurane, Yes Bank; Animesh Kumar, IDFC Bank Ltd; and Ernest Louis of India Value Fund Advisors receive the award for their distinguished contributions and professional achievements in the sector.

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Established in 1991, over the last 25 years, The Finance Association at XLRI [FINAX] has striven to contribute to the professional growth of students specialising in the finance domain at XLRI through their events, conferences, competitions and live projects. GNOSIS in its 7th year, got bigger and better this year with a terrific speaker line up of top bankers and entrepreneurs and 150+ delegates attending the event.

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