Xavier School of Management played host to RBI’s electronic Banking Awareness and Training (eBAAT) program which is reaching out to the masses and educating them about the recent changes in the banking space.
Contingent of dignitaries from Reserve Bank of India including RBI’s regional director Mr. MK Verma presented eBAAT which was facilitated by FINAX – the finance club of XLRI which focusses on promoting Finance related activities within the campus.
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 and the 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 event began at 4PM on October 26, 2015 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.
Furthermore there were multiple questions about the new licenses especially to India Post. 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.
The Finance Association at XLRI caters to the students having wide variety of finance related interests. FINAX aims to be a successful liaison between students and industry. They facilitate student activities like guest lectures, workshops, speaker forums, research and live consultancy projects, etc. which will help students become competent professionals
XLRI Jamshedpur is a premier, private management school in the country founded in 1949 by Fr Quinn Enright, S.J. in the Steel city of Jamshedpur, Jharkhand. Over the last few decades, XLRI has striven to contribute to the professional growth and management of innumerable institutions that serve the public, especially organized industry, labour, service agencies engaged in rural development, education, health and other public systems.
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