Himalaya Harbinger, Rudrapur Bureau.
The Indian Institute of Management (IIM) Kashipur successfully hosted the third edition of annual finance conclave, Vriddhi 2024, under the thought-provoking theme, “Bridging Innovation and Tradition: The New Frontier in Finance.” The event, moderated by Prof. Vaibhav Bhamoriya, Assistant Professor at IIM Kashipur, brought together some of the brightest minds in the finance industry to engage in enriching discussions about the intersection of technological innovation and time-honored financial practices.
The esteemed panel featured:
● Mr. Vinay Agrawal, MD & Head of Finance GCC, BNP Paribas
● Mr. Sanjeev Agrawal, Head of Tax & Customs, BMW India
● Ms. Rakhi Aswal, Chief Financial Officer, SAXO Group
● Ms. Archana Agarwal, Chief Financial Officer, SUN Group
The conclave opened with a critical discussion on financial stability during geopolitical tensions. Mr. Vinay Agrawal, MD & Head of Finance GCC, BNP Paribas highlighted that “there is no one-size-fits-all solution” when navigating such uncertainties. He urged organizations to diversify risks across different products and industries, advising them to innovate continuously to respond to evolving market conditions.
Mr. Sanjeev Agrawal, Head of Tax & Customs, BMW India addressed the growing unpredictability of global markets. He emphasized the need for organizations to streamline financial operations and maintain transparency, essential for building trust and resilience. Looking ahead, he predicted that data privacy would become a top priority in India, with strict implementation in the near future.
Ms. Rakhi Aswal, CFO of SAXO Group, spoke on the transformative role of technology in finance. She pointed out that “finance has become more real-time,” with traditional data entry tasks being replaced by analytical work. As she underscored the rising importance of technology, Ms. Aswal also noted the accompanying risks, such as cybersecurity threats, but acknowledged the numerous opportunities that have opened up as a result. She also discussed how the demand for new skill sets has shifted beyond accounting knowledge.
Ms. Archana Agarwal, CFO of SUN Group, focused on the delicate balance between innovation and tradition. She stressed the importance of upholding ethics and values in finance, stating that these are timeless principles. “While things have changed over the past three decades, ethics and values remain fundamental,” she said. Ms. Agarwal further highlighted the need for a human touch in financial services, emphasizing that innovation and tradition must coexist harmoniously.
In her predictions for the finance sector, Ms. Agarwal pointed to information processing and global data sharing as critical future dimensions. She suggested that collaboration in data sharing could lead to enhanced solutions, tailored to the needs of the people.
Prof. Utkarsh, Chairperson of Placement and Corporate Relations, expressed his enthusiasm for the conclave’s success: “I am thrilled to share that the Finance Conclave was a tremendous success. Stalwarts from the finance industry enlightened our students on emerging trends, offering invaluable insights into the innovative practices shaping the future of finance. Their expertise and perspectives have not only broadened our students’ understanding but also inspired them to embrace the dynamic changes in the industry with confidence and curiosity.”
Prof. Deepak Verma, Chairperson of Placement and Corporate Relations, reflected on the relevance of the conclave’s theme: “I am pleased to reflect on the success of this year’s Finance Conclave, which focused on bridging the gap between innovation and tradition in the finance industry. The discussions on regulatory and compliance aspects, especially in relation to emerging technologies and new-age fintech, were particularly enlightening for our students. These insights provided a comprehensive understanding of how innovation can coexist with established financial practices, equipping our students with the knowledge to navigate the evolving landscape of finance.”
The conclave concluded with an interactive Q&A session between students and the esteemed guests. This session allowed students to engage directly with industry leaders, gaining personalized insights and exploring the future of finance from multiple perspectives.
Vriddhi 2024 has undoubtedly enriched the minds of IIM Kashipur’s students, providing them with valuable knowledge and motivation to embrace both innovation and tradition as they prepare to enter the evolving world of finance.
