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Dr. Anantha Nageswaran, Dean, IFMR GSB, KREA University at CII event.
by DebriN Synergy Business Simulation Services ‘Regulators should have the capacity to
intervene when any market crisis happens’
Speaking at the inaugural session,
‘Creating a robust financial architecture’, of the 9th edition of The India Finance Forum 2018 - Driving performance, business value in a
digital world, organised by
Confederation of Indian Industry, Dr. Anantha Nageswaran, Dean, IFMR Graduate School of Business, KREA
University, said, “Regulators should have the capacity to intervene when any
market crisis happens and this can be possible only if a rational economic
behaviour exists at all levels of financial system. RBI Governor has to
maintain status quo amid talk about the government resorting to populist
measures in the run-up to the general elections”.
Referring to the Usha Thorat panel,
Dr. Nageswaran mentioned that RBI’s capital has far exceeded the recommendation
of the panel which was set up in 2004. “A robust financial architecture cannot
be accomplished without a robust financial regulation. We should also think
whether it is right to adopt an inflation-targeting regime for a developing
economy like India. There is a case for distributing it back to the
shareholder, which is the government, but it should be transferred to a
specific mean, instead of transferring to the Consolidated Fund of India,” he
added.
The conference organised by CII
focussed on the financial landscape, the changes and its impact on the
financial architecture and touched upon policy regulations post the collapse of
the Lehmann brothers and how the past decade has seen the global financial
system transform drastically which have strengthened the financial system while
Banks have bolstered their balance sheets and how technology also revamped the
financial landscape with alternative lending models and fintech companies.
The session was opened by Mr
S Mahalingam, Chairman, CII SR Economic Policy Sub-committee 2018-19 &
Past Chairman, CII-SR and key note address was given by Mr R Seshasayee Past President, CII & Chairman, IndusInd Bank,
who said, “There is a need to create the right kind of ecosystem as internet
explosion, block chain and other technologies are at an inflection point now
India has to leapfrog in terms of technology adaptation in various fields,
including agriculture”.
Among other dignitaries also present were - Mr Sumit Dutt Majumder, Former Chairman CBEC; Mr G Mahalingam, Whole Time Director - Securities Exchange Board of
India; Mr R Raghavan, Partner,
Lakshmikumaran & Sridharan Attorneys. Closing remarks were made by Mr Gopal Mahadevan Co -
Chairman, CII SR Economic Policy Sub-committee & President – Customer Solutions
Business & CFO Ashok Leyland Ltd.
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