Anjuman 2012

Anjuman – The Annual Leader’s Corporate Luncheon stands unique in its aim to bring together students and industry leaders for an informal interaction over a sumptuous Nawabi Lunch. Anjuman 2012, structured along the same lines as its predecessors, brought together renowned industry leaders as keynote speakers and provided an ideal platform for corporate heads, IIM Lucknow faculty and a select set of students to learn from each other.

Organized around the theme ‘ Innovate, Implement and Inspire: Build a Legacy’, Anjuman sought to celebrate the business houses, leaders and institutions who have through their continuous and consistent show of brilliance shaped the county.

 The Keynote Speakers for this year’s event were:

·        

·         Mr. S D Latkar  (CFO, Computational Research Laboratories)

·         Mr. Jayant Krishna (CSI Lucknow Chairman & Principal Consultant, TCS)

·         Mr. Chaitanya Kalbag (Editor, Business Today)

·         Mr. Sheshadri Rajaram (CEO,  Erhardt + Leimer India Pvt. Ltd)

·         Mr. Santosh Nair (Editor, moneycontrol.com)

The event was flagged off by a keynote address by Dr. Devi Singh (Director, IIM Lucknow) who set the theme of the discussion by expressing how legacy stemmed from the fact that some were brave enough to think beyond the obvious, employ successfully ideas which no one else would dare to employ and then persistently work on those ideas to make a substantial difference to the lives of all those it touched. He pointed out that most of us Indians believe that we are creative but it is our failure to take those ideas to conclusion that threatens our quest to establish India as a global power in the next two decades.

Mr. S D Latkar (CFO, Computational Research Laboratories) shared his long experience with the Tata Group, narrating to the audience not only various innovations he had seen but also the work done in developing Computational Research Laboratories

Mr. Jayant Krishna (CSI Lucknow Chairman & Principal Consultant, TCS) sought, through examples to explain how an enterprise builds its legacy. Narrating anecdotes highlighting the rise of the Tata Group, he illustrated how at times through innovation, how at times choosing to focus on strengths and how sometimes through the sheer desire to change the way you want the world to see you can inspire a company to rise from humble beginnings to become one of the most respected names of the world.

 Mr. Chaitanya Kalbag (Editor, Business Today), the first Asian to rise to one of the most senior positions at Reuters, shared with the audience his views on how Indian culture and work ethics are different with in relation to innovation, from that of its western counterparts. He put before the house that perhaps we as Indians should detach ourselves from our culture in order to innovate and build India as an economic powerhouse. He did concede however that countries such as Japan and Korea have managed to embrace innovation as a part of their culture and grow economically while holding steadfast to their traditional values.

Mr. Sheshadri Rajaram (CEO,  Erhardt + Leimer India Pvt. Ltd) stated that perhaps it is easier to innovate when you are in charge of a smaller organization than when you are involved in a large company and hindered by countless processes. He used his own experience as an example of how being hindered in a big company before his business education, he chose to work for a smaller firm post MBA and how the satisfaction of being able to innovate as he chooses stops him from even thinking of swapping organizations

Mr. Santosh Nair  (Editor, moneycontrol.com) bought to the table his technical insights from moneycontrol.com, impressing upon the audience the need for innovation for a nascent idea to grow and eventually establish itself in the wider scheme of things.  

Following the keynote addresses and an insightful Q&A session with the audience, the event concluded with a sumptuous lunch which presented the lighter side of the leaders, as they opened up to informal discussion with the attendees. Speaking about the event, Rishikesh Tripathy, a second year student of IIM Lucknow remarked, “Events such as Anjuman help the students in viewing the regular course work at IIM through the lens of Industry people. These interactions truly are an invaluable part of an IIM experience.”

IIM Lucknow hosts leading bankers at Samvit 2010

Samvit, IIM Lucknow's Leadership Summit, ended today on a high note. The two day event drew to close today with some of the biggest names in the corporate world and economists coming down to the campus for a panel discussion. The theme for this year's event and the topic for the panel discussion, "Financial Regulation & Development in India: Challenges & Prospects" saw the very best of the corporate world and policymakers thrash out ideas that could lay down the growth platform for the country in the years to come. The Master of Ceremonies for this year's panel discussion was Mr. Bhupesh Bhandari, a senior editor with Business Standard.

The key note speakers for this year's event were - Mr. Atul Khosla (Country Head Oliver Wyman), Mr. V Bunty Bohra (CEO Goldman Sachs India), Mr. Vikas Vasal (Executive Director KPMG), Mr Sanjiv Bhasin (CEO DBS Bank) and Mr.Suresh Senapaty (CFO Wipro Ltd.) and Mr. Amitabha Ghosh (Former Governor, RBI).

 Mr. Bhandari set the tone for the event by driving home the importance of financial regulation. He said that the Indian economy has a unique identity of its own and that any resemblance it shares with the US economy in terms of structure or policies is a matter of happenstance. He also remarked upon the key roles which the soon to be instituted Financial Stability and Development Council (FSDC) has to play.

Speaking on the topic, Mr. Amitabha Ghosh (Former Governor, RBI), commended the role of RBI in formulating policies for the economic wellbeing of the economy, but was also critical about the scale and efficacy with which these policies are being implemented. He was of the opinion that instead of government bodies formulating policies, an environment of discipline wherein all the financial players have a set of "Self Regulations", a practice that once incorporated at the top level would percolate to the lower levels and ensure overall economic health.

Mr Sanjiv Bhasin (CEO DBS Bank) quipped that regulations might be something that might not go down too well with a few, but the regulation is of immense importance in the current volatile macroeconomic environment. He said that for regulations to achieve their true purpose they should be relevant to the market and the overall macroeconomic scenario. Elucidating his stance he mentioned that these regulations have a widespread impact on common people, so the regulators have to be very cautious while laying down norms.

Mr. Suresh Senapaty (CFO Wipro Ltd.) delivered a spirited speech in which he talked about the various phases of economic reforms and the importance such reforms hold for the future. He said that with limited or no social safety cover , the policy makers should come up with policies that mitigate any risks that might emerge in the capital or the debt market.Pressing on the importance of a deeper secondary debt market, Mr. Senapaty spoke about an environment of confidence in which all segments of the society can prosper.

Mr. Atul Khosla (Country Head Oliver Wyman), delved into the topic of inclusive growth. He stressed upon the enhancement of risk coverage in public as well as private markets. Mr. Khosla said that overall consumer protection should be at the apex of any policy initiative.

Mr. Vikas Vasal (Executive Director KPMG), pointed out that the focus of economic activities have shifted from the west to the east. In the new light, it is important to device strategies to tap the massive growth potential that India has. Commending the core Indian values of prudency, Mr. Vasal said that it is due to these virtues that we largely went unscathed in the worst economic crisis after the Great Depression.

Mr. V Bunty Bohra (CEO Goldman Sachs India), was of the opinion that higher inclusion and robust capital markets are the need of the hour. He also highlighted the importance of governance stability and oversight.

The discussion was followed by a Q&A session in which the students and faculty of the institute probed the leaders on a variety of topics concerning the financial sector. Samvit - 2010 drew to a close with the event Consilium - The policymaking event, in which two member teams presented their views on fiscal and monetary policy.

The two day extravaganzas saw teams from other institutes such as MDI and IIM Indore come down to the campus and participate in the various events organized as a part of Samvit. The event was cordially accepted by both the faculty and the students. Speaking about the event, Ayush a first student said, "The event has been a revelation of sorts to the students at the campus. Not only have we been treated to a host of competitions, but also we have gained insights into the current and future economic conditions of the country".

IIM Lucknow’s Samvit – 2010, begins on a high note

Samvit - the Annual Leadership Summit of IIM Lucknow began on a propitious note today. The theme for this year’s summit is “Financial Regulation & Development in India: Challenges & Prospects”. The premier institute hosted Dr. Subir Gokarn, Deputy Governor Reserve Bank of India to unveil the theme for Samvit on the 13th of November. The main event for this year’s Samvit is the panel discussion which is scheduled to be held on the morning of Sunday 28th of November.

Over the years, Samvit has signified the homecoming of some of the biggest corporate leaders in India for the panel discussion at IIM Lucknow. Some of the names that have been associated with Samvit in the past are, Ms Kalpana J Moraparia (Chief JP Morgan India), Ms Meera Sanyal (Head ABN Amro), Mr. Pramod Bhasin (Chairman, NASSCOM), Ms Naina Lal Kidwai (India Head HSBC) and Padma Bhushan Dr. J J Irani. In continuation of the tradition, this year the institute is playing host to noted bankers and industry stalwarts – Mr. Atul Khosla (Country Head Oliver Wyman), Mr. V Bunty Bohra (CEO Goldman Sachs India), Mr. Vikas Vasal (Executive Director KPMG), Mr Sanjiv Bhasin (CEO DBS Bank) and Mr. Suresh Senapaty (CFO Wipro Ltd.) – for the panel discussion. Former RBI Governor Mr. Amitabha Ghosh will also be present to express his views on the challenges and prospects of the current regulatory environment.

In the run up to the main event, the first day of Samvit saw some exhilarating events being organised on campus. The students also got a feeler of the finance world through “Stratagem – The national level Mergers & Acquisitions Competition”. The unique event allowed the students to delve deep into financial concepts and exercise their wisdom at real time scenarios. “Finquizitive – The finance quiz” had the participants by their breath till the end. The highlight of the first day was the finance workshop conducted by Mr. Vaidya Nathan, a certified trainer who works in close association with brands such as JP Morgan Chase, Citibank and Deutsche Bank. 

Speaking about the event Hansraj Mishra, a second year student from IIM Lucknow said, “Such events which bring the industry and the academia on a common platform provide a fresh perspective to the holistic learning at B-school. More such initiatives should be taken in future”. In all the first day of the event was fun filled yet insightful. The institute now awaits the panel discussion that shall be held on Sunday morning.

Colloquy: The Leadership series 2009

The Colloquy leadership series organized by IIC invites thought leaders from various spheres to share their valuable knowledge and experiences with the budding managers of tomorrow. Some of the notable industry stalwarts who visited the campus in 2009 were:


Mr. Chetan Bulsari, Head (Finance), Barclays Wealth
This session was aimed at educating students on the real issues that led to the financial crisis in its present shape and what could be the potential strategies that could be employed by companies to better the situation. In a second session he helped the second year students, majoring in Finance, understand the nuances of Risk Management in a Bank & explained in detail the critical role played by the bank’s Treasury.


Mr.Anuratna, Global Marketing Manager, Citi Private Bank
Primarily focused at the first year students, this talk by Mr. Anuratna Chaddha centered around the credit crisis, its origins and the mechanism of its spread to all economies. Further, Mr. Chaddha shared deep insights highlighting the key steps that financial institutions such as Citi were taking to emerge from the crisis and start their progress towards growth. Drawing from his personal experiences, he also shared with the students his perspective on the prime challenges he encountered while working in diverse geographical locations such as South Africa & Sub Saharan Africa, which was a very important take-away for students.

Anirban Malakar, Business Head, Maxus Global
Mr. Malakar held an engaging talk on "Media Strategy and Media Schedules" for students of IIM Lucknow. He highlighted how advertising companies go about promotional strategies for corporates. He also shed light on the importance of 360 degree campaigns by companies involving various technology components to create bigger impact and increase reach to the consumers. Mr. Malakar talked about how one should go about placing advertisements and campaigns in different media like print, TV, magazines etc. The session was a great learning experience for the students who gained useful insights into the media strategy domain.


Mr. Bijoy Daga, Head Invest Banking group
Mr. Bijoy Daga, a CA with over 14 years of experience in Relationship Management, Asset & Structured Finance, Advisory Services and Project Finance and currently heading the Investment Banking group at IL&FS Financial Services Limited, took a session on Project Finance. This highly-engaging session primarily dealt with examples of live deals in tune with the current market trends in the International and Indian arena.

Anjuman: The Corporate luncheon at IIML

The Industry Interaction Committee on the occasion of Manfest 2010 hosted the third edition of Anjuman - The Corporate Luncheon on 23 January 2010. Anjuman has been the platform where stalwarts of various domains to share their expert opinions on a contemporary theme, which this year was “India – Expect, Explore, Experience”. This year IIM Lucknow had the opportunity to invite the following industry leaders:


• Dr. Wilfried Aulbur - CEO, Mercedes–Benz India
• Ashok Swaroop – MD of B.Development and Corp. Affairs Citi South Asia
• S. Ramodarai – VC TCS and former CEO TCS
• Pankaj Saluja – Partner Bain Consultancy
• A. Vaidheesh, CEO J&J Medical India


Each of the speakers presented his views on the theme and shared his opinions on it.


Dr. Wilfried Aulbur felt that sustainable mobility is a key aspect of future growth and meet the needs of the society. He said that the demand for cars was outstripping the infrastructure growth in India. He added by saying that population growth and rapid urbanization were fuelling demands for cars and adding to the problems. He felt that India should develop a road mobility infrastructure plan specific for it and not blindly copy the solution from West.


Ashok Swaroop initiated his talk by contrasting how things have changed from 1970s compared to today. He was referring to the fact that the batch of 2010 at various B-Schools would be facing a demanding consumer, whose tastes have changed and will continue changing. He stressed on the fact that India has become disparate with close to 40% of the population still poor. He believes that both state and civil society have realised this and expects to see major investment in social infrastructure. He left us with an inspiring and optimistic note “There are more things in India that unite than the things that divide”.


Mr. Ramodarai emphasized on the importance of both India and China in shaping the global economy. He felt that a major chunk of labour force of the future will come from these two countries. He lauded the role played by both Indian and Chineese, who have been part of many patents and innovations in the recent years. He stressed that new education methods should be adopted to make 500 million people skillful and ready for the global challenge.


Pankaj Saluja shared his views on how foreign firm should make an effective entry in the Indian market. According to him, the companies should aim higher by targeting the mainstream markets by quoting examples like Lo’real, Nokia and Gillete. Localise the 4Ps and cited how Frito Lays used this strategy to launch Kurkure. Effective cost structure should be maintained. The companies should invest in local talent. His final advice was that the companies should be selective when it comes to partnering, M&A and forming Joint Ventures. He cited the example of Bharti Walmart in the Retail sector.

IPL CEO enthrals prospective managers at IIM Lucknow!

IIM Lucknow woke up to a freezing Saturday morning with Great Expectations! The Prestigious Management school has witnessed some of the best CEO’s from India Inc. deliver Key Note addresses over the past 6 months, but Saturday promised a whole new degree of Entertainment. Mr. Sundar Raman, the CEO of the Indian Premier League was slated to deliver an address on “Sports Management with IPL as a case in point”. The energy thawed the freeze across the IIM campus with students anticipating a highly enriching session.

Sports Management in India is increasingly becoming a highly sought after career for budding managers from India’s premier Business schools. Managing a sport in India demands no less than the most prolific Business minds in the country. Given this, To discuss and interact with the Big Daddy of Entertainment promised to be exhilarating experience for some of the brightest young minds in the country. The address by Mr. Sundar Raman witnessed a full house with passionate Managers and equally intense Cricket fans coming out in full strength. Managing the Indian Premier League is a challenge of monstrous proportions and its CEO showed why. Strategies and Cricket proved to be the hottest ideas exchanged with Bollywood being discussed sotto voce.


Mr. Sundar Raman’s session proved to both Entertaining and Enriching. According to Arvind Charanyan, a student coordinator of the Industry Interaction Committee which organized the event, “Mr. Sundar’s session was phenomenal. We have a lot of students who are very keen on pursuing a career in Sports Management. This session was a dream come true for them.”


If the student enthusiasm at IIM Lucknow was anything to go by, Management Strategies will find their way into net practise in the offing!

Doing business, the Himalayan Way!

The talk by Himalaya’s CEO Mr. Ravi Prasad provided the students of IIM Lucknow the wonderful opportunity to learn about brand building from the man himself who has transformed brand Himalaya globally.


Mr. Ravi Prasad talked about the journey of Himalaya and discussed decisions- right or wrong, which has helped Himalaya to reach the position which it has attained today. With the benefit of hindsight he talked about what Himalaya could have done better in terms of decision making.


He talked about health care trend shift in India and as well as shift of consumer to Ayurveda. He talked about success of Liv 52 which has defied all concepts of product life cycles and shared insights on what made the product huge success during all these years since its inception in 1955.


He talked about the most important milestone of creating a brand from the company – Himalaya Health care and then extending it to other products like body care, body oil, chawanyaprash etc. He also discussed ways about how to lend credibility to brands and how to keep consumers hooked and provided live examples. He also discussed about Himalaya‘s international market strategy.


The session was highly interactive and lots of question related to Himalaya ‘s position as compared to leading FMCG giants like P&G and HUL were asked. Audience were impressed and heavily applauded Mr. Ravi Prasad when he shared Himalaya’s stand towards environment and its conscious decision of not introducing sachets until they come up with bio degradable packets. Session was aptly summed up by one of the audience who said that perhaps he has learned more about building brands in these 90 minutes than in the complete course in a semester.

Samvit’09 - The Leaders’ Conclave: Who's who of India Inc. at IIM Lucknow

The Industry Interaction Committee’s cardinal endeavour is to build a conduit from the Knowledge centres of the corporate world to the classrooms of IIM Lucknow. In that pursuit, Samvit (Knowledge potency) was conceptualized to bring the best from the Industry to IIM Lucknow. The flagship event of IIC, Samvit has become an indispensable thread in IIM Lucknow’s brand positioning.


Samvit’09 saw the presence of stalwarts such as Pramod Bhasin (Chairman of NASSCOM & CEO of Genpact), Ajit Balakrishnan (Chairman Rediff.com), Kalpana Morparia (Country Head JP Morgan), Meera Sanyal (Country Head ABN AMRO) and Dr.Biswadip Mitra (MD Texas Instruments). These Industry Leaders were joined by Dr. Sandeep Pandey, a 2002 Magsaysay award winner who chose to throw away a lucrative career to become a social activist. The event was thus rightly titled “The Leaders’ Conclave” given this panel of elite visionaries.


The event was anchored by the affable Mr. Sanjeev Srivastava (BBC India Editor) who ensured that the conclave was as entertaining as informative. The theme of Samvit’09 was “Emerging pillars of the Indian Economy”. The theme was in line with the Indian growth story amidst the wreck of the financial slump where new sectors and a diversified labour force were emerging from the rubble.




The event opened with key note speeches from the each of the leaders. Mr. Ajit Balakrishnan and Dr. Biswadip Mitra shared their insights on technology’s indispensable contribution hitherto and its potential for India. To a question on corruption remaining unchanged, Mr. Ajit Balakrishnan intrigued the audience by focussing on the different facts of corruption and how India emerging from a licence raj era to a fairly liberal environment is per se, progress and an abatement of one type of corruption.


Dr. Sandeep Pandey, renowned for his work for the underprivileged, reminded the audience about the plight of more than a million people who truly constitute the “Unorganized” sector/section and thereby forced to accept punitive measures. His comparison of the price of mineral water to the price of milk drew widespread applause amidst a guffaw. Ms. Meera Sanyal shared her thoughts on the elections she contested. The student community was awed by her rationale and sense of conviction in contesting the elections while managing ABN AMRO in addition to contributing to social welfare activities. A second year student at IIM Lucknow opined that “Ms. Sanyal is the true paradigm of being strong and decisive”.


Mr. Pramod Bhasin delivered a flawless key note address followed by multiple interjections in the panel discussion, and made it clear that India’s progress can be supplemented only by the simultaneous existence of liberalization and social transformation.


Ms. Kalpana Morparia disabused some of the most popular misconceptions about China and drew the panel into an interesting discussion on China’s progress viz-a-viz India. The panel of leaders collectively threw light on how China’s administration is governed by some of the smartest people in the country which facilitates sustained development.


Ms. Meera Sanyal’s parting words to the panel of leaders and to the audience became the cynosure of the talk, when she quipped, “I hope this entire panel joins politics” in the context of Indian Administration needing leaders and visionaries such as those pre-independence.


The panel discussion drew a flurry of questions from the audience including the most appreciated one from a serving captain of the army who said “We have heard of Jai Jawan Jai Keesan. We only talk about the ‘Keesan’, what about the 'Jawan’? Do banks also have models for our needs?”


The 25th of October,2009 saw IIM Lucknow culminate its 25th year by opening a new chapter in its inimitable record. Samvit’10 is expected to be bigger and grander with IIC25 setting the plans in place in advance to add another feather to the School’s cap.

Communicating effectively - A new paradigm

The Industry Interaction Committee (IIC) organized a Communication workshop to enhance the presentation skills of aspiring managers at IIM Lucknow. Although students at an IIM come in with a sharp skill set in communicating and presenting, they are continually learning the art of persuasion. The workshop was organized for precisely that -honing the persuasion skills of these budding managers.


The workshop was conducted by Mr. Chendil Kumar, a program manager at the NSRCEL, IIMB and a member of the Guest Faculty, IIMB. Mr. Chendil Kumar is also an ace public speaker who has achieved numerous accolades in the Toastmasters Organization, which hones public speaking and leadership skills). Known to be incredibly droll, Mr. Chendil Kumar began with a flurry of anecdotes that emphasized the importance of persuasion skills in the corporate world. He went to explicate the fundamental structures in analyzing the audience and shared with the audience a set of concrete steps to sell themselves effectively when delivering pitches and presentations.


To keep the audience actively engaged, he invited two members from the audience to prepare and deliver a pitch and solicited evaluations of these speakers from the audience. This session perhaps proved to be the most enriching as the students were lucidly shown where the pitfalls lay and how they need to avoid them in the course of making a pitch.


The workshop ended with Mr. Kumar summing up the oft-used models in communication with amusing snippets from his teaching career. The feedback for the workshop was overwhelming, with over 80 students keen on knowing more and requesting Mr. Kumar to host another session. IIC will continue to host communication workshops in 2010 and 2011 catering to different facets in managerial communication.

Anjuman - A Grand Success

Distinguished guests from Industry and the Government, students from prestigious B-Schools of India, Alumni and Faculty members of IIM Lucknow along with the media, attended Anjuman – The Corporate Luncheon of IIM Lucknow on the sunny morning of 17th of January.The second edition of Anjuman provided a platform for stalwarts of various domains to share their expert opinions with the students, facilitating an exchange of ideas and perspectives on fast-emerging trends in the modern world of business. The theme for the discussion was, “Sustainable Development-Fuelling the Future”.

The discussions revolved around the conflict between economic development and environmental concern. To throw some light upon the issue, key speakers Mr.Harsh Manglik, Mr. Vikram Akula and Dr.J.J.Irani were specially invited. 

Mr. Harsh Manglik, the chairman and geography managing director for Accenture in India, stressed upon the fact that sustainability is not an option. It is the way corporate entities will have to rework their business model. Rural employability forms a very important part of the whole process which has no definite answers or pathway and should form the basis of finding new concepts of working. The three key ideas presented by him were access to knowledge and to capability building opportunities, presence of market opportunities and inclusion of the bottom of the pyramid. Mr. Manglik explained the concepts with the help of fundamental principles of inclusion and scalable opportunities. 

This key note address by Mr. Manglik was supported by Mr. Vikram Akula, the founder and chairperson of SKS microfinance. The organization has a mission to eradicate poverty through the provision of financial services to the poor. Mr. Akula emphasized the need of sustainable development in the field of micro financing by addressing the issues of access to capital scalability, increased capacity and very high cost of capital. He also highlighted the concept of creative Capitalism and how the budding mangers can use it to create a sustainable model for giving everyone a chance to have access to finance. In his own words, “…Creative Capitalism should act as a promise of economic freedom to all who have been left behind.”

Dr.J.J.Irani, director on the boards of several corporate firms said in clear words that we can no longer rely on our past and should look forward to the youthful opportunity presented to us to make a difference to the future. 

Table discussions were other highlights of Anjuman. Different mixes of guests, students, alumni and faculties were seated at tables which provided each of the participants a unique opportunity to interact one on one. Different panels discussed topics related to the theme and shared their thoughts and ideas. The topics touched upon Green Marketing, Rural development, Sustainable organizational structure, Environmental stability, Energy management and Role of Academia in sustainable development for the future. The common thought that cropped up during the discussion was the integration of efforts by private and public sector. The representatives of different sectors across various domains came to the common conclusion that sustained efforts through policies and implementation, are required to give our future generations a deserving chance to flourish in a more aware environment. 

The rich interaction of students, faculties, corporate representatives and media persons helped in spreading the message of sustainable development in an effective way. The theme sustainability was reflected by the impression it created in the minds of one and all and the thoughts they have carried and will pass on to many more people they will meet in the due course of their work and social life.

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.