RBI Ex-General Manager Delivers a Talk on Workings of the Central Bank

19^th February 2010, Kolkata : Cashonova the Finance Club of Indian Institute of Foreign Trade, Kolkata organized a lecture by 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 as well. The brief history of the organization was peppered with several anecdotes involving Mr. Roy and his seniors 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 central bank in the socio-economic affairs of the country. The students were made aware of the numerous obligations of the central bank and the importance of an overarching mandate being handed over to it. The role of RBI during different period of times 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 in appreciating the larger picture and interrelationship between business of the central bank and its impact on economy.

The lecture was interspersed with thought provoking questions by the students continuously thus 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.

By: Mritunjay Kumar

IIFT, Kolkata MBA(IB) 2009-11

Labels: Cashonova, IIFTK