By admin on 8/14/2012 4:26 PM
http://www.youtube.com/watch?v=BUJ1u6rG6pk
By admin on 8/14/2012 2:21 PM
http://youtu.be/IdGOzBTjQd4
By admin on 8/14/2012 1:22 PM
http://youtu.be/awzGAj6PaL8
By admin on 4/23/2010 9:12 PM
http://www.youtube.com/watch?v=TjRESpX5otU
By admin on 11/3/2009 3:35 PM
First and foremost, before we can proceed with the post crash lessons for business, there is the question of the capacity of business to learn lessons. If we are holding a class we may like to make sure that there are some students in it and they are not all gallivanting on their jets or partying in their yachts. The history of western capitalism, replete with its booms and busts, is not very reassuring on the capacity of business to learn lessons. So much the better Schumpeter may have argued that, at the formative core of every business, big or small, lies a process of innovation, a kind of unlearning or de-learning or even anti learning. Business does not do business as a class. Booms and busts are intrinsic to the process of creative destruction in a market economy. Each bust prepares the ground for innovations leading to the next boom. To put it differently, there is a creative part of business, which challenges established learning. Let me hope that, that creative part of business survives, not only the events of 2008-09, but also this session of the summit....
By admin on 8/20/2009 3:19 PM
“Deepening of the Capital Markets and Financial Inclusion” Address delivered by Shri Atul Kumar Rai at a Conference organized by ICRIER on August 20,2009. Dr. Nitish Sengupta, Mr. Shrawan Nigam, Mr. Paul Joseph, Dr. L.C. Gupta, Mr. C.S. Mohapatra and Distinguished Audience It is a unique privilege for me to be here today, though at the same time it is with some trepidation that I approach the task before me with two of my seniors being present here on the dais today whom I know to be very discerning if not demanding not only of others but even of their own selves to let pass lightly what may not come up to their standards. To begin with one may admit that the first issue in exploring the subject of the deepening of the securities markets and financial inclusion that stares one in the face in the immediate context of the economic crisis plaguing at least the developed world is whether the relationship between markets and financial inclusion is not too counterintuitive. After all, there is a very strong opinion today against the markets. Governments have rushed in with unprecedented levels of aid and rescue effort precisely to overcome the vagaries that have resulted from the financial markets being left to their own devices. We are reminded constantly of the greed inherent in the markets, their inefficiencies, their lack of discipline and their herd behaviour to have been the cause of the financial crisis which then led to an all round economic recession. In the context of capital markets themselves, it is not surprising, therefore, that the Committee on Financial Inclusion headed by Dr. C. Rangarajan in its report in 2008, when the crisis had begun to loom large, could not have laid the same emphasis on the markets as a possible solution as the Committee headed by Dr. Raghuram Rajan did which also was focused on the same subject of financial inclusion but had finished its report well before it was possible to smell the crisis in the air. The short point is that the markets in general and financial markets in particular stand somewhat discredited in our immediate context today. Anyone who stands up to argue in favour of securities markets being facilitative or supportive, leave alone causative of financial inclusion can hardly expect to arouse much sympathy unless some effort is made to clear the blot that markets have suffered over the last couple of years....
By admin on 7/7/2009 7:17 PM
IFCI celebrates sixty one years of its nation building endeavour today. On an occasion such as this, it is difficult to proceed without paying a tribute to what we owe to our legacy. From the perspective of ownership, IFCI was a strange entity even when it was born. Although, promoted by the Government through a legislation to step up investment in manufacturing and industrial projects, IFCI was never directly owned by the Government. Even the repeal of IFCI Act only expanded the ownership of IFCI to a wider base covering not only institutions, but also the general public. Today, nearly half of IFCI’s holding is with about a million shareholders. In the present day context, the ownership model of IFCI retains relevance as it combines the values of public welfare with that of private ownership. This is a legacy which we continue to be justifiably proud of. It is this legacy which we at IFCI wish to keep alive and extend further. IFCI is a public financial institution and works in the regulatory environment...