Finanza is the annual conclave conducted every year by the Finance department of Symbiosis Institute of International Business and is the congregation of students and faculty of finance from various Business schools, veterans, professionals and experts from the industry. This year, Finanza held on August 8, 2015 also marked the inauguration of the finance club of SIIB, FinEquity.
The conclave was helmed by the Chief Guest of the day, Mr. Gautam Prasad, Managing Director of Audatex Solutions Pvt. Ltd. During his address, he shared his experience in the Auto industry and how his expertise is brought into the insurance claims industry, especially motor claims at Audatex Solutions.
The panel discussion on “The mounting NPAs: Is Corporate Debt Restructuring the only way?” that followed, was the key highlight of the conclave. The panel included industry pundits of the likes of Mr. Shekar Kapoor, Associate Director in CRISIL, Mr. Rahul Tungatkar, Finance Consultant of Cybage Software and Mr. Kedar Sabne, Vice President at IndusInd Bank. The discussion was steered by Mr. Mark .H .Deane, Head, Centre for Corporate Interface at Symbiosis School of Banking & Finance.
The panellists shared their insights on various facets to the approach on NPAs (Non-Performing Assets) and CDR (Corporate Debt Restructuring) by government, regulator, banks, NBFCs (Non-Banking Financial Corporations) and the corporate. The incremental fresh impaired assets and the restructured advances, which together comprise the NPAs is at a 14 year high. Banks, especially public sector banks are struggling with ever increasing NPAs and eroding capital due to the provisioning. The CDR is a second chance embarked upon the struggling corporate to resuscitate them. The initiation to CDR by banks is the last resort to turnaround the NPAs to performing assets.
The Finanza ‘15 was a fest of sorts held for two weeks with initial rounds of FinQuest (FinCombat and Jack of Trades) and Mocktion and a number of online and offline fun events including Photo Marathon, Photo Bombing, 20 Questions and Treasure Hunt, culminating on the D-Day. The final rounds of FinQuest (Analytica and Strategos) and Mocktion (Mock IPL Auction) also held on Finanza witnessed the best teams from leading Business Schools across India combating to win.