SJIM conducted the Finance Conclave on 17th August 2017. The main theme of the Conclave this year was the Cashless Economy in India. There were 4 industry experts who shared insights with the students.
Mr. M Srinivasan, Assistant Advisor, Department of Economics and Policy Research, RBI.
Mr. Srinivasan spoke about the world economy. He shared data on India’s share in the world economy being just around 3%. However, he emphasized that India could potentially be the second largest driver of the world economy by 2050. Mr. Srinivasan spoke about the pros and cons of a cashless economy and the various initiatives taken by the Government to make it a cashless society.
Mr. SatishAnand, Chief Investment Officer, Mitraz Financial Services.
Mr. Satish spoke about the mobile penetration in India. He spoke about the ambitious ‘Kissan JAM’ project of the Government, where J stands for “Jan Dhan”, A stands for “Aadhaar” and M stands for “mobile”. He also shared his thoughts on the positive changes that came post demonetization and how the rural population is slowly catching up with digitalization.
Mr. AshishKothiyal, General Manager Compliance, Fincare.
Mr. Ashish spoke about the 5C’s vision of the RBI. The 5C’s consist of coverage, confidence, convenience, convergence, and cost. He enlightened the audience about the advantages and disadvantages of a cashless economy.
Mr. Harish Raghu, MD&CEO Saggraha Management Services.
Mr. Harish shared insights about the need for financial inclusion of rural India. He spoke of the three objectives of financial inclusion namely, to help people open bank accounts, educate them on banking procedures and make them credit worthy.