Kozhikode, 25 June, 2016: Indian Institute of Management Kozhikode (IIMK), in association with
Reserve Bank of India Thiruvananthapuram, conducted a Seminar on the 'Role of private remittances in the socioeconomic
scenario of Kerala’ in its Kozhikode campus on June 25, 2016 from
9:00 am to 4:00 pm which was attended by more than 250 delegates comprising
faculty and students of colleges and universities, researchers, bankers,
traders, businesspersons, consultants and other interested members of the
public.
The delegates were welcomed by Prof. Rudra
Sensarma, Chairperson of Research at IIMK. The guest of honour, Prof. Keyoor
Purani, Chairperson of Technology Business Incubator of IIMK, stressed on the
importance of channelizing remittances into entrepreneurial ventures so that
Kerala can transform itself from a consumption economy to a production economy.
In this connection he referred to IIM Kozhikode LIVE – the business incubator
to be launched by the Institute in August would play a significant role.
In his inaugural address, Shri S M N Swamy,
Regional Director, Reserve Bank of India, Thiruvananthapuram, spoke on the
importance of remittances in reducing India’s reliance on foreign aid and in
helping the country’s forex reserves as well as in meeting the current account
deficit. He mentioned that India’s forex reserves of more than $360 billion and
import cover of more than a year would be adequate in managing the temporary
effects of the recent Brexit if at all there is an impact.
The technical sessions featured a number of
distinguished experts such as Prof Irudaya Rajan of CDS Thiruvananthapuram,
Shri R.S. Kannan, CEO of NORKA Roots, Dr V K Vijayakumar, Investment
Strategist, Geojit Securites, Shri S. Adikesavan, CGM of State Bank of Travancore,
Dr Ajit, D., former Director of RBI, Prof Sthanu Nair of IIMK, Shri K. I.
Varghese, CGM of Federal Bank, Shri A. Sony, DGM of South Indian Bank, Smt
Dhanya, V., Assistant Adviser of RBI and Prof Shubhasis Dey of IIMK. The
speakers gave their views on the high dependence of Kerala’s economy on private
remittances and the consequent concerns. The speakers felt that remittances
help in poverty alleviation, economic and political empowerment of recipients
but the reintegration of returning migrants poses a challenge. While there are
long term adverse implications of over reliance on remittances for
psychological and social problems faced by the people, remittances provide a
stable source of external income and need to be channelized properly. This would
be possible with an improvement in the ease of doing business in Kerala which
can help entrepreneurship and job creation. The audience was able to
participate in the discussions by sharing their perspectives and getting their
questions answered.
About Indian Institute of Management, Kozhikode
Started in 1997 with its Postgraduate Programme (PGP), the Indian
Institute of Management Kozhikode (IIMK) is on a high growth trajectory today,
offering widest range of academic programmes in the field of management
education. These include Fellow Program in Management, Executive PG Programs,
Management Development Programs and Faculty Development Programs. IIMK set up a
Satellite campus at Infopark, Kochi, in 2013 dedicated to Executive Education.
For further information, please contact:
Dr. M.G. Sreekumar | Ms. Meghana Bangalore
Head, Media Relations, IIMK |
Adfactors PR, Kochi
+91- 9447654066 | +91- 9819120245
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