Business Standard Best B-School Project Awards Welingkar Institute of Management Development and Research, Mumbai, January 12, 2015 - ربی - Reserve Bank of India
Business Standard Best B-School Project Awards Welingkar Institute of Management Development and Research, Mumbai, January 12, 2015
Dr. Urjit R. Patel, Deputy Governor, Reserve Bank of India
delivered-on يناير 13, 2015
I am honoured to be part of the Business Standard Best B-School Project Awards to be presented today for recognising the bright young talent of business schools in India. I understand that this is the 7th edition of the Award, and 158 colleges have participated from across the country with a wide range of projects. This conveys the high esteem that the award is held in, its popularity among B-School graduates, and the impact it has made over the years in recognising and honouring young professional talent. The teams are evaluated on the basis of the rigour of their work, innovative approaches, structure of the content and the meaningful solutions they provide for diverse business, social and organisational challenges. The function symbolises “out of box” thinking and the entailed enterprising skills of the “Young India”. It epitomises a tribe of budding professionals who are not risk-averse and have “fire in the belly” to take a leapfrog into the future. Frankly, I am deeply envious of the young students that I see in front of me. They have the dreams, desire and the capability to create new business models and modern enterprises, which India critically needs at this juncture. There are several notable inter-locking drivers that have been recently initiated or reinforced with vigour, which will complement our budding graduates’ innate talent.
In other words, bankable labour-intensive enterprises should benefit as we go forward in this direction. There are 3 potential corollaries: (i) First, a much larger number of small business loans will be encouraged rather than an overriding emphasis on very large loans per se. (ii) Second, in the context of discussions on priority sector policy/guidelines, finance for small entrepreneurs, SMEs and employment creation may be reinforced. (RBI’s licensing policy for small finance banks has stipulated higher exposure to priority sectors.) (iii) Third, banks may have to revisit at an opportune time (not now) in due course (that is, in the future) the individual company/group credit exposure limits, as well as sector exposures as part of their learning for the future for better risk management practices over the business cycle.
Let me conclude by quoting a participant at the inaugural session of this year’s Vibrant Gujarat Global Summit: “India will be a bright spot in an otherwise mediocre global economic outlook”. Thank you, once again, for giving me the opportunity to speak at the 7th Business Standard Best B-School Project Awards function. |