Thursday, December 07, 2006
he Indian banking sector is yet to mature in terms of its risk management policies and other RBI compliances. This statement reflected the collective mood of the house at the National Banking Symposium in XLRI today, which dwelt at length on the various risk management strategies for banks.
Organised by Finax, the finance association at XLRI, in association with the Institute of Chartered Accountants of India (ICAI), the session provided an insight to management students about different aspects of the banking sector, which, along with other financial institutions, attracts a large number of graduates during placements.
“We need to understand the banking sector as it is one of the fastest growing sectors. So we felt the need to organise such a symposium,” said Gaurabh Vallabh, an XLRI faculty.
Delegates from IDBI Bank, UTI Bank, ICICI Bank, Canara Bank, Bank of Baroda, Tata Steel and accredited chartered accountants from Jamshedpur also attended the symposium. “There is a great demand for risk management professionals now because of business competitiveness and compliance needs,” said Mohan Bhatia, senior principal consultant, i-flex solutions.
This was echoed by B.M. Mittal, chief general manager, Punjab National Bank, who said: “Indian banks need to put together an enormous data to implement Basel II by 2009. Expertise may be hired but data collection is a huge exercise.”
As an incentive, two cash prizes for students were announced for the best session analysis.