Anjuman - The Corporate Luncheon

“There must be a better way to make the things we want, a way that doesn't spoil the sky, or the rain or the land” - Sir Paul McCartney

Our way of life is placing an increasing burden on the planet. As the world's population continues to increase, we see a world where over a billion people live on less than a dollar a day. From the loss of biodiversity to apocalyptic climactic changes, our consumption patterns are having a negative effect on the environment. To put it bluntly, we are living beyond our means.

The answer lies in a development which meets the needs of the present without compromising the ability of future generations to meet their own needs. In short, we need ‘Sustainable Development’. Aptly thus, Indian Institute of Management Lucknow has decided to base this year’s edition of its annual management conclave ‘Manfest’ on the theme of ‘Sustainable Development- Fuelling the Future’.

Sustainable development is an eclectic concept, as a wide array of views fall under its umbrella. It encompasses a number of areas and highlights sustainability as the ideal mix of environmental concern, economic equity, social progress and a heavy dose of political commitment. Thus, a healthy discussion on the theme requires representation from all stakeholders of the society.

IIM Lucknow, entering into its Silver Jubilee year, proudly presents Anjuman - the corporate luncheon, as part of ManFest. Anjuman endeavors to provide this platform for stalwarts of various domains to share their expert opinions on the topic. It aims to foster a decisive resolve to deal with the issue among the people who can create the maximum impact. The esteemed guest list will include revered policy makers, top industry captains, representatives from the social sector, faculty, senior alumni from the institute, and current students.

                                                                

Format of the Luncheon:

Aadaab

Welcome Note and Introduction

Alfaaz

Speeches by the key-note speakers followed by discussion facilitated by the Anchor

Aalaap

Conversation over Lunch

Asaas

A glimpse into IIM Lucknow

Alvida

Closing Note

         Date: 17^th January, 2009                   Venue: IIM Lucknow

A talk on 'Demand & Funding of Mortgages and the latest trends in consumer finance' by Mr.Sujan Sinha (Sr VP and Head of retail assets, Axis Bank)

Mr. Sujan Sinha, Senior Vice President and Head of retail assets at Axis Bank, delivered a guest lecture at IIM lucknow on ‘Latest trends in consumer finance and mechanics of demand and funding in mortgages’. Sharing his assessment of the current crisis in India, he opined that the current crisis is not a home grown crisis and is difficult to project what problems are still to come in the American economy. But, showing the faith in Indian consumer, he felt that this crisis will first see the revival of consumer spending and then the revival of corporate India. He believed it was fortunate that the policy norms kept the exposure of Indian banks limited. Thus, the current crisis is more of a result of lack of faith in the financial system than any underlying losses.

Due to this crisis realty sector is badly hit. Due to crunch of liquidity, the small builders are forced to sell properties at a lower prices, this is pushing prices in the real estate market southwards. Now this unexpected drop in prices is influencing buyer to get into a wait and watch mode expecting a further price drop. Thus, the sales of real estate are dropping further trapping the industry into the vicious demand cycle. This is also affecting the supply side of real estate and builders are stuck with semi finished projects for which they are not able to arrange finances. But, the aggressive moves by RBI to help liquidity in the market would bring back the sanity in the market. Also cut in crucial rates by RBI will also ensure a correction in time deposits that are at an all time high to come down to single digit interest rates.

He concluded the discussion on a positive note praising past IIM Lucknow recruits for being aware of ground realities and long term thinking. The session was very well received by the students and was punctuated with regular questions.