The faculty members and the students of SCMS family were privileged to have, Mr. Sampath Kumar, Deputy General Manager, State Bank of India, Commercial Branch Ernakulam, to speak on the topic “Latest Trends in Banking and Finance” as part of the last session of Industry Institute Interaction 2016.
The talk was a graceful experience. The speaker took the entire audience for a journey, a journey that started from the beginning of banking system, travelling through the evolutionary period of global banking as a whole and Indian banking sector in particular, and introduced the latest phenomena in this sector. He gave elaborate description on different types of commercial banks ranging from, Public Sector Banks, Old Private Sector Banks, New Private Sector Banks and Foreign Banks.
The insights given on the ‘Big Financial Crises’ that happened after 1970s, were highly beneficial. The details provided on Herstatt Bank Settlement Crisis in 1974, Financial Crisis in Nigeria, Brazil, Mexico etc in 1980s, Fall of BCCI in 1991, Barings Bank Failure in 1994, Lehman/Subprime Meltdown in 2008, Greek Debt Crises in 2011 and Wells Fargo Fraud in 2016, were helpful for the young minds to understand the great challenges in the global financial sector.
The information given on the types of Industrial Loans, Project Term Loans, Working Capital Cycle and Funding, helped us to realize few of the steps behind many financial activities that are happening in the industry. He advised the aspiring managers of SCMS Cochin, about the importance of advanced levels of reading, and the need of critical observations on current affairs.
Mr. Sampath Kumar concluded, “Economics will not work according to our wish, so be very conservative. Look every item critically, check for the history and the historical cost, to design the assumed future.”
– A report by Bristo Thomas (PGDM Batch 25)