Early Times Report
JAMMU, Dec 12: The Indian Institute of Management (IIM) Jammu inaugurated the 2nd International Finance and Accounting Conference (IFAC-2024) today at the Patanjali Classroom, Academic Block, IIM Jammu. The conference, themed "Navigating the Future of Finance, Accounting, and Banking: Building Financial Resilience," brings together leading scholars, practitioners, and industry leaders to discuss strategies for building resilience in the financial and accounting sectors. The inaugural ceremony commenced with the lamp lighting ceremony. Prof. B.S. Sahay, Director, IIM Jammu presided over the inaugural ceremony. The event began with the ceremonial lighting of the lamp, symbolizing knowledge and enlightenment. The total number of registrations was 245, with 180 registrations completed online and 65 through offline registration.
Arati Porwal, Country Head - India, CFA Institute, in her keynote address on the online mode emphasized the critical role of markets in shaping the nation's future. She highlighted that the resilience of organizations is anchored in robust governance. She discussed the significance of financial and behavioural health, stability, and transparency in driving sustainable growth. She spoke about research agendas aimed at addressing key issues through evidence-based insights, fostering academic and professional frameworks. Over the past two years, the CFA Institute has prioritized transparency and accountability, with Part II of their report set to release shortly. She reiterated the institute's commitment to providing access to high-quality financial research grounded in ethics and expertise. As we embark on this two-day journey, she underlined the role of research in building transparent and sustainable markets and preparing the next generation of financial leaders. She thanked IIM Jammu for offering a platform to advance these discussions.
Dr. Manoranjan Sharma, Chief Economist, Infomerics Ratings, delivered the keynote address on the online mode, focusing on the dynamics of the banking sector. He emphasized that the sector cannot operate in isolation, discussing its integration with the broader global and domestic economic landscape. Highlighting the uncertainty brought about by geopolitical events such as the Ukraine conflict, Middle East tensions, and the current U.S. presidential elections, he provided a comprehensive perspective on the global financial scenario. He traced historical challenges, including the stagflation of the late 1970s, and India's journey from a fragile economy to a resilient and steadily growing one. He noted the transformative impact of domestic consumption, digital advancements, and the rising global stature of India's economy. He emphasized India's unique growth trajectory, characterized by significant contributions from agriculture, services, and manufacturing sectors, contrasting with patterns seen in other nations like China. He stressed the importance of regulatory compliance, automation, and quality-focused research in fostering a robust banking ecosystem. Drawing insights from global institutions and technological advancements, he underlined the necessity of evolving from knowledge to wisdom to address disruptive changes effectively. He highlighted key areas such as retail lending, including vehicle loans, home loans, and consumer durable financing, and the critical role of insolvency and bankruptcy reforms in driving economic resilience. He advocated for adopting global best practices and embracing innovation to ensure sustained growth and value delivery to customers.
In his address, Prof. B. S. Sahay, Director, IIM Jammu, extended a warm welcome to all delegates, expressing his wish for more in-person participation. He emphasized that research is central to IIM Jammu's mission, with a focus on societal and national relevance. He highlighted the institute's commitment to impactful research, with the government laying more focus on driving such research. He urged delegates to bridge the gap between academia and industry, advocating for complementary and interdisciplinary approaches. He stressed the importance of adopting diverse perspectives, reminding researchers to remain self-regulated and pragmatic in their endeavours. He urged everyone to ensure their research holds relevance and contributes meaningfully to society and the nation at large. He acknowledged the financial acumen of women, particularly homemakers, as exemplary financial managers, urging everyone to make the most of every moment. He encouraged delegates to ensure the conference's success by prioritizing quality research papers and making the event memorable.
Prof. Jabir Ali, Dean Academics, IIM Jammu, emphasized the critical area of financial resilience, particularly in restructuring research in the post-COVID era. He highlighted the overwhelming response of over research papers, reflecting the promising momentum in research contributions. He underscored IIM Jammu's commitment to maintaining high standards in research through its robust research policy, which prioritizes A+ journals. He encouraged researchers to focus on publishing in top journals, setting clear goals, and building networks to excel as world-class researchers. |
