3rd Financial Conference on Systemic Risk at Great Lakes Campus, Chennai

Updated on: Tuesday, August 28, 2012

Great Lakes Institute of Managements Union Bank Centre for banking excellence organized the 3rd Financial Conference on Systemic Risk at Great Lakes Campus here in Chennai.

The conference was aimed at bringing out thoughts on various issues around financial inclusion with top bankers,educationists and economists on the panel to discuss Systemic Risk. This years theme, which was also the topic for panel discussion was ‘Is India Hedged against Systemic Risk?

Distinguished speakers at the conference comprised of Dr. K. C. Chakrabarty, Deputy Governor, RBI and Shri. S. K. Jain, Executive Director, Union Bank of India and the panelists were Dr. Gurbachan Singh, Prof. ISI Delhi, Dr. Manoranjan Sharma, Chief Economist & DGM, Canara Bank and Dr. Rupa Rege Nitsure, Chief Economist & GM, Bank of Baroda and Prof. Sanjoy Sircar, Professor of Finance and Director, PGPM, Great Lakes Institute of Management, Chennai.

Speaking at the conference Dr. Bala V Balachandran, Founder and Dean, Great Lakes Institute of Management said “The global financial scenario has made it imperative to ensure ample procedures for monitoring and correcting systemic risk. Systemic Risk can have serious negative consequences on the economy by impairing the financial system. There is a need for assessing and containing this system wide risk. With this conference, Great Lakes Institute of Management aims at getting various minds from the economy together and brainstorm on ways and means to curb the systemic risks”

Dr. S.K. Shanthi, Chair-Professor, Union Bank Centre for Banking Excellence, said, “This conference brought together leading bankers, academicians, economists, and regulators to initiate the process of creating a common framework for quantifying risk. The discussion explored measurement challenges, virtues and potential pitfalls of existing measures to assess risks and also the challenges going forward.”

The conference explored various components of systemic risk and hopes policy makers will take note of the concerns and recommendations. The panelists focused on specifics of risk assessment and implementation, current research on risk analytics and examined these tools from the perspectives of hedge funds. Each panelist gave brief remarks on some aspect of systemic risk measurement, and then moderators opened the discussion to questions, comments, and debate among panelists and the audience.

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