XLRI's National Annual Conclave "SYNERGY 2014" Day 2
"SYNERGY 2014" - National Annual Conclave organized by XLRI - Xavier School of Management, one of India’s premier B-Schools concludes today.
The Second Day of 'Synergy 2014’ witnessed eminent industry leaders such as Mr. Navneet Munot (ED & CIO - SBI MF), Mr. Saurabh Sarkar (MD and CEO MCX - SX),
Ms. Deepika Mathur (SVP - HDFC Ergo General Insurance Co) amongst others talked on topics like Future of Finance and The Way Forward for the Indian General Insurance Industry.
Identifying the banking sector as the most important for growth, and acknowledging the issues of regulatory compliance, Mr. Saurabh Sarkar (MD and CEO MCX - SX) said, "India is under-banked, but the cities are over-banked. For propelling growth, there is a need to look beyond cities and get money from new areas. This could include the informal sector or even avenues like Islamic Banking, till now uncaptured. Judge the risk appetite and follow the money."
Today, the panel discussion on "Indian Insurance Sector - The way ahead" saw eminent speakers from the insurance sector. Mr. Praveen Gupta (CEO and MD Raheja QBE General Insurance Co. Ltd.) said "For insurance sector to grow, people need to be more perceptive of risks." Looking forward, he said "Insurance is in its nascent stage and it will pick up. There is a need to move from focussing on delivery than on distribution through agents." Mr. Sushant Sarin (Sr. Vice President, Tata AIG General Insurance Co.) was of the opinion that the insurance sector is driven by knowledge about a few key areas including the need to recognise customer need for financial security; the price customers are willing to pay and the products they are willing to adopt. The growth of this sector hence, is dependent on the bridging of this gap.
Talking on the future of finance, Mr. Navneet Munot (ED and CIO, SBI MF) said "we have seen financialization of the economy - financial markets have become inevitable for the growth of the real economy. The financial markets will become digitized in the future as, unlike other industries, the financial sector has not seen the disruptive power of technology, yet".
"The Finance Manager", the magazine by FINAX was also unveiled today.
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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