Brickwork Finance Academy announces an essay competition for graduate, post graduate students and young professionals. The topic of essay is"Finance for Life - How to retain value of money?"
Most individuals are now going for nuclear families and old couples have to look after themselves with minimum help from their children. It is critical for these couples that value of money from hard earned savings is maintained and finance be made available for Life. High inflation is eroding value of rupee. Rising dollar has made imports expensive and value of Indian rupee has fallen to Rs 55 per dollar. How can the Indian Government and the central bank retain the real value of money?
A jury of eminent economists and finance professionals, headed by Honorable Justice B N Srikrishna, Chairman, Financial Sector Legislative Reforms Commission, and having Mr. K V Kamath, Chairman, ICICI Bank; Dr. Govind Rao, Director, National Institute of Public Finance and Policy & Prof. Samir K Barua, Director, IIM Ahmedabad, as its distinguished members, will select best three essays. The top three essays will win prizes worth Rs. 100,000/-.
The essay competition is open to graduates, post graduate students and young professionals with a zeal for finance.
While no one doubts the long term growth story of India, the present seems precarious. After series of growth rates in 9% range, the country's growth has slowed down to 5% levels. The inflation has been stubbornly high in double digits. The interest rates on bank deposits or long term savings don't offer positive real rates. The real estate prices have been prohibitively expensive for poor and even middle class families. The unemployment scenario is distressing with more than 75% of our graduates not employable. Those who have got jobs in IT majors have to wait over a year after graduation to join the companies. Both the Union and the state governments continue with populist schemes and are not tackling problems of critical infrastructure like power, roads and water. Their budget deficit has resulted in increased government borrowing crowding out private investment. The Indian banks have been able to meet just 1.6% of loans requirement of SMEs, who are forced to seek money in informal sectors. The uncertainties in the Indian political parties and lack of any credible honest political alternative can be disastrous for future growth of the country.
How can Indian Government kick start the economy? How can the government reduce fiscal deficit? How can the banks lend more to the companies and individuals?
While the outline is a suggestive one, it is not mandatory. The author has discretion to choose his own format and adopt innovative assertions based on facts and figures. While the essays have a 3000 word limit, the author is welcome to supplement with relevant Annexures.
All essays would be subject to a screening by a panel of faculty members of BFA. Shortlisted essays would be forwarded to a jury of eminent economists and finance professionals. The members of the Jury are:
-- Honorable Justice B N Srikrishna, Chairman, Financial Sector Legislative Reforms Commission
-- Mr. K V Kamath, Chairman, ICICI Bank
-- Dr. Govind Rao, Director, National Institute of Public Finance and Policy
-- Prof. Samir K Barua, Director, IIM Ahmedabad
-- Mr. Sunil Kunte, President, Fidelity Business Services
-- Mr. N Ganapathy Subramaniam, President Banking & Financial Services,TCS
Three best essays will win prizes worth Rs. 100,000/-. In addition, ten essays will be awarded certificates of appreciation by Brickwork Finance Academy. The winners will be felicitated at a seminar at Brickwork Finance Academy campus on Kalena Agrahara, Bannerghatta Road, Bengaluru, where select participants will be given an opportunity to present their findings before an intellectual audience.