These days we see a plethora of new laws
that have been introduced into the banking sector. Do these laws and policies
actually serve as an enabler for growth? How should investors behave during a
financial crisis? To build a clearer perspective regarding some of these topics
Vitharth, The Finance Club of DOMS IIT, Roorkee organized Manthan 2013 on the
24th of February. The Event was graced by the presence of some eminent speakers
from the industry, the esteemed faculty of the department and the students.
The event started
with the traditional lighting of the lamp and the welcome note given by the
head of department Dr. Santosh Rangnekar. This was followed by an introduction
regarding the theme of the event by Dr. A.K. Sharma. He stressed on the fact
that during these troubled economic times how the banking sector had to balance
the lending aspect at the precise rates to the common people as well as provide
financial assistance to the industries. He also stated that the three main goals
of this sector were priority lending, rural banking and Financial inclusion.
The next speaker
to take the Dias was Mr. Paresh Seth, CEO at Indus Advantage iBank. Mr. Seth
stated right from the outset that he promoted a free market economy. He felt
that the idea of introducing new players into the sector was not very prudent
as it to incur additional uninvited costs. Whatever changes were to be
implemented could have been done with the existing players in the sector at a
fraction of the cost. He also stated that even though new players would give
cause to rise in employment in the sector that it would be short lived as some
players would end up exiting.