Published : Friday, 30 October, 2015 4:11 PM

Xavier School of Management recently played host to a contingent of dignitaries from RBI including RBI’s regional director Mr. M K Verma. RBI as a part of its electronic Banking Awareness and Training (eBAAT) program has been reaching out to the masses and educating them about the recent changes in the banking space. Conducted for the first time in Jamshedpur, the eBAAT event was hosted in XLRI campus and saw overwhelming attendance of over 150 from the student community andthe bankers of city.
RBI is an organization that is seen as a powerful body by the general public but its exact role and responsibilities are not very clear to the general public. As a part of this eBAAT event RBI educates the public as to the purpose served by the central bank in our country. The organizing of the event was facilitated by FINAX – the finance club of XLRI which focusses on promoting Finance related activities within the campus.

The event began at 4 with a brief introduction about the key speaker of the day RBI’s regional director Mr. M K Verma. Since the audience being addressed predominantly consisted of students who are pursuing MBA, Mr. Verma began by explaining the various aspects of RBI and how it serves the different goals set for it including controlling inflation, providing a platform for economic development and improving the financial stability in the country. Next he addressed the changes happening in the country and specifically in the banking space. He covered the emergence of payment banks and the issue of new banking licenses in detail.

The second speaker for the day was Mr. Brij Raj Deputy General Manager of RBI. His speech covered the startup boom happening in the country. He pointed out the opportunities provided by the startups and how their scale of growth has been unprecedented. In the later part of the speech, he highlighted the importance of banks in ensuring that the environment was conducive for fostering of the entrepreneurial spirit focusing on the startup funding being carried out by commercial banks in India.

This was followed by a Q&A session where the panelists fielded the questions thrown at them by both the student diaspora as well as the local bankers about the policy changes being undertaken by the RBI.

Further more there were multiple questions about the new licenses especially to India Post. With time running out the event ended at 6 with the RBI presenting a plaque as a memento Roshan, Secretary FINAX commemorating the tree which had been planted by the RBI on XLRI’s behalf. The session was very informative to the audience present and they hoped such events will continue to happen in the college.

About XLRI:
XLRI-Xavier School of Management, Jamshedpur is a premier, private management institute in India founded in 1949 by Fr Quinn Enright, S.J. in the ‘steel city’ of Jamshedpur (www.xlri.ac.in). Over the last six decades, the institute has grown into a top-ranking business management school of international repute with a wide portfolio of management programs and research publications. Its alumni are spread around the globe and have demonstrated responsible business leadership in their organizations. XLRI continually strives to contribute its mite to the professional growth and management of numerous organisations and institutions across industry sectors.

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