FMS wins Manfest Yajna; IIM-L finishes third
TNN, Jan 23, 2011, 05.44am IST
LUCKNOW: The second day of Manfest 2011 at Indian Institute of Management, Lucknow ( IIM-L) saw business leaders, students and celebrities converge on the premier institute on Saturday. It was a day packed with talks, panel discussions, competitions and even an international rock concert.
The day started with 'Yajna', the NGO solutions challenge, followed by a corporate luncheon and 'Arthashaastra', a finance leadership summit. This was followed by a business quiz conducted by television presenter Gautam Bhimani.
Yajna, the pan-India NGO solutions challenge reached its finale on Saturday with FMS, Delhi, walking away with the first prize in 'Yajna'. They helped the Association for India's Development (AID) create a viable supply chain for organic food. SP Jain Institute of Management and Research, Mumbai finished a close second and received generous praise from the NGO Saamtol Sevasahyog for their work with rehabilitation and vocational education for migrant children in Mumbai.
The team from IIM Lucknow, which helped Maitrey ERA set up a horticultural unit in Malihabad finished third. The finance leadership summit, Arthashaastra was based on the theme, "Renaissance 2030: Shape the Change". The summit saw hot debate among the panelists, who sought to answer the questions like, "how will banking look in 2030?", "what models of banking would achieve financial inclusion - micro finance, credit?", "will integration with the global markets happen?"
Deputy governor of RBI, KC Chakravarty, who was also one of the panelist spoke about financial inclusion and regulation. He quipped, "If you are an economist and have committed any sin, then in your next life, you would be a central bank governor of a developed country."
Financial market, he said, will have to be subservient to real market in 2030. "Financial market is surviving in this market only because of regulators," he said, stressing that financial regulation will remain vital to the economy. "If there is one country that has the opportunity in the 21st century it is us. We must seize the opportunity," he said.