Share your story and shine at JK Monitor!đ Welcome to JK Monitor, where every story matters and every achievement is celebrated! We invite you to share the remarkable journey of your life and showcase your accomplishments to the world. Join our exclusive interviews that honor exceptional individuals just like you. JAMMU: The Indian Institute of Management (IIM) Jammu concluded the valedictory ceremony of its 2nd International Finance and Accounting Conference (IFAC) 2024 today. The event showcased insightful discussions, recognition of academic excellence, and impactful addresses by prominent leaders in the finance and accounting domain. The valedictory ceremony was presided over by Prof. B.S. Sahay, Director, IIM Jammu.
The Chief Guest, Shri Rajesh Krishnamoorthy, CWM, Independent Director, PGIM Mutual Fund, captivated the audience with his insightful address at the valedictory ceremony of IFAC 2024. He emphasized the need for innovative research, strategic thinking, and robust financial management in todayâs rapidly evolving financial landscape. He lauded IIM Jammu for its exemplary leadership in hosting a global platform that fosters meaningful dialogues on finance and accounting..
Sharing his perspective as a seasoned practitioner, he underscored the importance of convergence between academic insights and real-world applications. He clarified that resilience is often misconstrued as a large-scale project, whereas modern-day resilience is more about the ability to withstand disruptions through practical, scalable measures.Using real-world examples, he illustrated the dynamics of risk management.
He spoke about risk transfer, avoidance, and mitigation, drawing parallels to safety measures like seat belts, which exemplify risk management in action. He provided insights into the role of liquid funds and other financial instruments in de-risking and scenario management, highlighting how companies navigate risks to build financial resilience.He also touched upon emerging themes such as sustainable goals and social investing, encouraging participants to explore innovative strategies to align financial practices with broader societal objectives. His address left the audience with actionable insights on how financial resilience can be integrated into strategic planning, making it a cornerstone of modern finance.
Ms. Nita Menezes, Founder of Financially Smart & MoneyPrastha and National President - Financial Literacy & Management Councildelivered an insightful keynote address emphasizing the importance of financial resilience in todayâs rapidly evolving world. She highlighted how disruptions, such as global pandemics, digital transformations, and the rise of technologies like fintech, AI, and generative AI, are becoming integral to modern life. She stressed the need to harness these technologies to drive India's GDP growth, build unparalleled digital infrastructure, and foster financial inclusion.
She shared that 46 financial literacy papers were submitted during the event, showcasing a global opportunity to engage policymakers and industry leaders in actionable strategies for fintech innovation, decentralized finance, and sustainable finance. She emphasized that financial literacy serves as the foundation of economic stability, and sustainable finance, coupled with green initiatives, offers a promising path for global progress.She expressed concern over the alarming statistic that only 26% of Indians are financially literate, calling for urgent action to bridge the gender gap in financial knowledge.
She pointed out how this gap leaves women with fewer resources and often paying more for essential products, underlining the critical need for financial inclusion. She encouraged the audience to shift their mindset towards resilience, suggesting a reflective approach: "What is the one thing I will start doing, stop doing, and continue to do?" She inspired students by reminding them of their pivotal role as architects of the future, urging them to strive for a financially stable society and become drivers of change.
Prof. B.S. Sahay, Director, IIM Jammu, welcomed everyone to the valedictory ceremony of the 2nd edition of IFAC 2024 and reflected on Indiaâs remarkable progress over the last decade. He highlighted transformative initiatives like the Jan Dhan Yojana and the innovation of UPI, which have revolutionized financial inclusion and digitization. He noted how these advancements played a pivotal role during the COVID-19 pandemic, showcasing Indiaâs resilience and preparedness. He emphasized Indiaâs journey from being a handful of institutions to now having 21 IIMs and 23 IITs, 7 IISERs along with world-class infrastructure such as 16-lane highways.
He remarked that India, once the Vishwa guru, is poised to reclaim that status as it continues to grow into the third-largest economy in the world. He highlighted the importance of leveraging research to create societal impact, ensuring that it reaches the last mile and contributes meaningfully to the nation.He also underscored the importance of teaching as a noble profession, urging participants to share their knowledge with schools, nurturing the future of the country. He called for collaborative research, emphasizing that while an MBA provides recognition, research offers credibility.
He announced that IIM Jammu will soon be part of the "One Nation, One Subscription" initiative, which will enhance access to knowledge and research resources across the country. Looking ahead, he encouraged the organizing committee to make next yearâs conference interdisciplinary, fostering rich discussions and debates. He reiterated his vision for IIM Jammu to play a significant role in Indiaâs journey toward excellence and global leadership.
Present on the occasion were Prof. Jabir Ali, Dean Academics, IIM Jammu. The ceremony began with a warm welcome address and conference report delivered by Dr. Vedika Saxena, Conference Co-Chair, IFAC 2024. She highlighted the objectives and achievements of the conference, which aimed to foster innovative research and dialogue in finance and accounting. The ceremony also included the IFAC 2024 Best Paper Awards, presented by Prof. B.S. Sahay, Director, IIM Jammu, Dr. Ashish Kumar, Dr. Praveen Kumar, Dr. Vaseem Akram, faculty, IIM Jammu.
The awards recognized outstanding contributions to research in finance and accounting, encouraging scholars to pursue innovative ideas.The event concluded with a vote of thanks by Dr. Harsha Jariwala, Conference Chair, IFAC 2024, who expressed gratitude to the speakers, organizers, and participants for their invaluable contributions to the conference's success. The event culminated with the National Anthem.
IFAC 2024 reaffirmed IIM Jammuâs commitment to fostering excellence in research and dialogue in the finance and accounting domain. The insights shared during the valedictory ceremony will undoubtedly contribute to shaping the future of finance and accounting education globally.