Dr. Aditya Puri, MD, HDFC Bank speaks about inclusive growth and the ground realities of the Indian Banking Industry in the 3rd National Finance Conclave at KSOM

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Dr. Aditya Puri, MD, HDFC Bank speaks about inclusive growth and the ground realities of the Indian Banking Industry in the 3rd National Finance Conclave at KSOM

There are inherent dangers in populist policies and deficit financing for a growing economy like India, said Dr. Aditya Puri, Managing Director, HDFC Bank at KIIT School of Management (KSOM) of KIIT University in Bhubaneswar on 29th September, 2012. Delivering keynote address at the 3rd National Finance Conclave organized by KSOM, he made it clear that the country needs inclusive growth and cited Kalinga Institute Social Science (KISS) as a glowing example of an enduring model for inclusive growth. He also delved into the root causes of financial crises worldwide and directions for financial policy and intermediation in India.


The conclave, which had ‘Meeting the New Challenges in India’s Financial Markets’ as its theme, was graced by corporate leaders like Mr. Gautam Chakravarti, Director, PE Group, Blackstone Fund Services, Mr. Vipul Jhaveri, Partner & Head M&A Tax, Deloitte Haskins & Sells, Mr. Naresh Makhijani, Executive Director, KPMG and Mr. Biswajit Mohanty, Managing Director & CEO, SBI Pension Funds.


India’s financial markets face a two-fold set of challenges. On the one hand, there is the challenge of broadening their base by improving domestic and foreign participation. On the other hand, they have to weather the storm emanating from the developed world, post the US subprime crisis and the ongoing Euro zone crisis. The one-day conclave hosted two technical sessions with these challenges in the background.

The first technical Session dealt with ‘Managing Uncertainty’. Mr. Chakravarti spoke on ‘Managing risk during the Euro crisis and the sliding Indian Rupee’. Mr. Jhaveri spoke on ‘Tax havens as investment routes: Is GAAR a calibrated regulatory response?’. The second technical session dealt with ‘Enhancing participation’. Mr. Makhijani spoke on ‘SEBI’s new Alternate Investment Funds regulations: Paving the way for new Investment Vehicles’. Mr. Mohanty spoke on ‘Developing India’s corporate and government debt markets.’

Earlier, Dr. A. Samanta, Founder of KIIT & KISS welcomed Dr. Puri and other dignitaries and participants to the conclave. KIIT School of Management has a long history of academic excellence, providing industry-focused management education, he said. As part of its industry-academia interface, KSOM conducts National level conclaves in all major functional areas such as Finance, Marketing and HR, he informed. In the introduction to the conclave, Dean, Prof. Ashok Sar outlined the role of capital markets, the banking sector and infrastructure financing in the Indian economy.

The conclave was well attended by representatives from the industry, academia, professional bodies, students and society-at-large making it a grand success.