Giving yet another opportunity for MBA education community to rejoice, students of Indian Institute of Foreign Trade (IIFT) have jointly won the inaugural edition of RBI Policy Challenge 2016 - a national level competition organized by the Reserve Bank of India, to further the spread of knowledge regarding financial, monetary and banking matters among the student community. The team emerged victorious from among 260 participating teams after intense rounds of competition at regional and zonal levels.
The students proved their mettle in front of panel led by RBI Governor Dr. Raghuram Rajan, and comprising Dr Urjit R. Patel, Deputy Governor, Reserve Bank of India, Shri S S Mundra, Deputy Governor, Reserve Bank of India, Professor Errol D’ Souza, Faculty, Indian Institute of Management, Ahmedabad, Professor Ashima Goyal, Faculty, Indira Gandhi Institute for Development Research, Mumbai, Dr. Sajjid Z. Chenoy, Chief India Economist and Executive Director, J P Morgan and Dr. Pranjul Bhandari, Chief India Economist, HSBC. The teams also fielded questions posed by the Panelists and media representatives present at the venue.
Giving away the award to IIFT students, RBI Governor Dr Raghuram Rajan said, “It is crucial for the country to rope in good people to join the policy arena. And if we have convinced a few via this challenge, that’s a real win for the country”.
The winning team from IIFT, mentored by faculty Dr. Jaydeep Mukherjee, comprised four students of IIFT Harshita Solanki, Rajat Malik, Sheryl D’souza, and Ganesh Sukumar.
The win has been a culmination of the combined hard work, diligence, and efforts of IIFT students over 3 rounds; Regional round, Zonal Round, and National Finals, with competition spanning teams from premier B-schools across India. The national round was held in Mumbai on April 05, 2016. The teams were assigned a monetary policy related topic involving hypothetical scenarios and they were required to make a presentation.
Team from IIFT was awarded with a trophy and a cash prize of Rs.1 Lakh. The members of the winning team would also be given the opportunity to intern with the Reserve Bank for a period of 3 months in a department of their choice at Reserve Bank of India.
Reserve Bank of India is the maker and executor of monetary policy in India. Apart from controlling the money supply through large banking network, RBI is the regulator of foreign exchange and international banking business. Internship at RBI would provide ample opportunity to the IIFT students to get correct picture of International Banking Business and will be most relevant for their MBA (IB) programme. Getting internship at RBI is not an easy task and when the money controller of the country has offered the choice, IIFT students have all the reason to celebrate.
IIFT is a leading research-driven management institution of India, established in 1963 on the behest of Shri Jawahar Lal Nehru, under the the Ministry of Commerce & Industry, with a strong international business orientation. IIFT is a deemed University and MBA (International Business) at IIFT is a six trimester management programme with a focus on International Business for developing a competent cadre of business executives to meet the country's growing requirements for trained personnel in the field of International Business Management.
MBA (IB) at IIFT aims at imparting professional education and training in modern management techniques for handling international business operations in a highly dynamic and competitive environment. Special attention is given to developing proficiency in one of the three foreign languages French, Spanish and Mandarin.
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