GUEST LECTURE ON INTRICACIES OF THE CENTRAL BANK

On 19^th February 2010, Cashonova - the Finance Club of IIFT, organized a lecture at IIFT Kolkata with Samirananda Roy, retired General Manager, Reserve Bank of India. Mr. Roy has also served the Government of India in various other capacities. Presently, he is working with Disha Consultancy, a trust set up under the aegis of ICICI Bank and engaged in imparting financial education among poor people.

The lecture took us on a historical tour of the country’s Central Bank. Mr. Roy, having served the organization for quite a long period of time, presented an insider’s view of the organization. Beginning with the evolution under the colonial masters, the talk encompassed the post reform era of the Indian economy. The brief history of the organization was peppered with several anecdotes involving Mr. Roy and his counterparts, which added a personal touch to the discussion.

The lecture gave the students an insight into the various roles and responsibilities of India’s Central Bank. He reiterated the role of the RBI in the socio-economic affairs of the country. The students were made aware of the numerous obligations of RBI and the importance of an overarching mandate being handed over to it. The role of RBI during different periods of time and the implication of the policies as enunciated by it was made amply clear. “If the central bank of the country earns profit then country’s health is not good.” Such profound observations clearly led the students into appreciating the larger picture and understanding the interrelationship between business of the Central Bank and its impact on our country’s economy.

The lecture was interspersed with thought provoking questions by the students, making it seem more like a dialogue. The talk was drawn to a close with a vote of thanks and the presentation of a token of appreciation by the club coordinators.

Written By: Mritunjay Kumar, Batch of 2009-11, IIFT Kolkata