IIM Jammu hosts landmark 3rd IFAC; concludes with visionary address by Shri Hare Krishna Jena, Managing Director, The Clearing Corporation of India Limited

JAMMU: The Indian Institute of Management Jammu marked the culmination of its 3rd International Finance and Accounting Conference with a grand valedictory ceremony held on February 28, 2026. Organized over two days, February 27 and 28, 2026, the conference was centered around the theme “Financial Strategies to Achieve Viksit Bharat 2047.” The Chief Guest for the valedictory ceremony was Shri Hare Krishna Jena, Managing Director,

The Clearing Corporation of India Limited. Prof. B. S. Sahay, Director, IIM Jammu, presided over the inaugural ceremony. Prof. Jabir Ali, Dean Faculty and Research graced the valedictory ceremony. The valedictory ceremony was graced by Prof. Pranab Ranjan Das and Dr. Ashish Kumar, Conference Chairs, IIM Jammu. The event brought together eminent academicians, policymakers, financial experts, researchers, and scholars from across the country and abroad to deliberate on the evolving landscape of finance and accounting in alignment with India’s long-term development vision.

During the visit, the Chief Guest Shri Hare Krishna Jenaplanted a sapling in the Institute’s courtyard, symbolizing sustainability and growth. He also toured the state-of-the-art infrastructure at IIM Jammu, including the Nalanda Library and smart classrooms, and visited the Director’s Office. The visit concluded with an engaging and thoughtful interaction, reflecting the Institute’s commitment to academic excellence and institutional development.

The Chief Guest, Shri Hare Krishna Jena, Managing Director, The Clearing Corporation of India Limiteddelivered an insightful and forward-looking address during the Valedictory Ceremony of the International Finance and Accounting Conference 2026 (IFAC 2026).In his address, he highlighted the pivotal role of robust financial market infrastructure in India’s journey towards Viksit Bharat @2047. He emphasized that as India aspires to become a developed economy, the strength, resilience, and efficiency of its financial systems will be central to sustaining long-term growth and macroeconomic stability.

He underscored the growing depth, scale, and strategic importance of India’s debt markets in financing government programs, infrastructure development, and corporate expansion. A well-functioning and liquid debt market, he noted, is essential not only for efficient capital allocation but also for enhancing monetary policy transmission and broadening investor participation.

He elaborated on the critical functions of The Clearing Corporation of India Limited, in ensuring seamless clearing and settlement of transactions, robust counterparty risk management, and the maintenance of systemic stability. By acting as a central counterpart, The Clearing Corporation of India Limited significantly reduces settlement risk and strengthens market confidence, particularly during periods of volatility. He stressed that efficient clearing, settlement, and risk management frameworks are foundational pillars for safeguarding investor trust and ensuring the smooth functioning of financial markets.

Highlighting the transformative impact of technology, he spoke about the importance of digital innovation, advanced analytics, and data-driven risk assessment models in addressing emerging financial challenges. He emphasized the need for regulatory prudence, operational resilience, and continuous technological upgrades to effectively manage credit gaps, market volatility, and evolving systemic risks.Encouraging deeper engagement between academia and industry, he called upon scholars and researchers to contribute meaningful research in areas such as debt market development, financial infrastructure, risk modelling, and digital finance.He noted that collaboration among academic institutions, regulators, and financial market participants is essential to building a transparent, resilient, and globally competitive financial ecosystem.His impactful address served as a powerful reminder that institutional strength, technological innovation, and collaborative research will be key enablers in realizing the vision of a developed and financially robust India by 2047.

In a powerful and inspiring address at the International Finance and Accounting Conference (IFAC 2026) valedictory ceremony, Prof. B.S. Sahay, Director, Indian Institute of Management Jammu, underscored India’s remarkable transformation and the pivotal role of academia in shaping the nation’s future. He expressed pride that the conference was inaugurated by the Shri Swaminathan J, Deputy Governor, Reserve Bank of India (RBI) and concluded in the gracious presence of,Shri Harikrishna. Jena,  Managing Director, The Clearing Corporation of India Limited (CCIL). Highlighting Jammu’s strategic rise, increased tourism, rapid infrastructure development, fiscal discipline, and transformative transportation systems, he credited the visionary leadership of Hon'ble Prime Minister, Shri Narendra Modi Ji for driving convergence and decisive governance.

Reflecting on global dialogues and his recent participation at the AI Impact Summit, he emphasized that Artificial Intelligence is the defining force of our era, transforming finance, governance, research, filmmaking, education, healthcare, and public service delivery at unprecedented speed.He stressed that AI is not just a technological shift but a structural transformation reshaping how nations govern, economies compete, and societies innovate. From predictive public policy tools to generative cinema and personalized learning, AI is fast becoming foundational to the 21st century.

He also highlighted India’s leadership in digital public infrastructure , particularly the success of the Unified Payments Interface (UPI). By enabling seamless, low-cost, real-time transactions at scale, UPI has become a global model for inclusive fintech innovation and financial empowerment.Together, AI and UPI demonstrate how technology guided by responsible governance and global cooperation can drive equitable growth and reshape the global order.With over 60 crore bank accounts enabled through digital inclusion and the successful use of technology during the pandemic, COVID-19, India has demonstrated the power of innovation at scale. His message was unequivocal: researchers must produce impactful, society-centric work, publish in top journals, build applications that solve real problems, and embrace AI as a core skill. “Stop consuming, start creating and innovating,” he urged, reminding Gen Z that they hold the power to shape not just India’s future, but the world’s.

Prof. Jabir Al, Dean Faculty and Research, IIM Jammu appreciated the depth and quality of the research presented and highlighted the intellectual rigor demonstrated by the participants. He emphasized that the discussions extended beyond theory and carried significant implications for real-world financial decision-making and policy development. He expressed satisfaction at witnessing strong scholarly engagement and remarked that the research contributions showcased during the conference would play a crucial role in shaping future discourse in the finance and accounting domain.

The valedictory ceremony commenced with an address by Prof. Pranab Ranjan Das, Conference Chair, IFAC 2026who formally welcomed the Chief Guest, Director, Dean,  faculty members, delegates, and students. He reflected on the conference objectives and underscored the importance of academic platforms that foster meaningful dialogue between research and practice, particularly in areas vital to national growth and economic stability.

Presenting the conference overview, Dr. Ashish Kumar, Conference Co-Chair, IFAC 2026 highlighted key takeaways from the panel discussions and technical sessions. He noted deliberations on asset-liability management, MSME credit challenges, financial market infrastructure, and emerging themes such as FinTech, financial inclusion, digital finance, and sustainable financial systems. Over 58 high-quality research papers were presented, reflecting rigorous, policy-relevant, and industry-aligned scholarship.

The ceremony also featured the distribution of Best Paper Awards, recognizing outstanding research contributions presented during the conference. The awards celebrated scholarly excellence and innovative thinking in finance and accounting. Certificates were also distributed to participants.A total of 58 high-quality research papers were presented during the conference, reflecting rigorous scholarship and addressing contemporary themes critical to financial stability, inclusion, innovation, and sustainable economic growth

The ceremony concluded with a formal Vote of Thanks delivered by Dr. Praveen Kumar, faculty, IIM Jammu who expressed heartfelt gratitude to the Chief GuestShri Hare Krishna Jena, Managing Director, The Clearing Corporation of India Limited for his valuable insights on the money market and financial infrastructure. He also conveyed sincere appreciation to B. S. Sahay, Director, IIM Jammu, for his visionary leadership including Prof. Jabir Ali, Dean Faculty and Research for his guidance and for enabling the institute to host such an impactful academic gathering.Acknowledging the contributions of faculty members, organizing committees, researchers, and participants, he noted that the rich deliberations on FinTech, money markets, financial inclusion, and financial infrastructure would leave a lasting academic as well as practical impact.

The 3rd International Finance and Accounting Conference concluded on a note of renewed commitment and intellectual optimism, reaffirming IIM Jammu’s dedication to academic excellence, policy-relevant research, and meaningful contributions toward achieving the national vision of a developed and self-reliant India by 2047.