Mrs. Vasumati Kumar, Executive Director, United India Insurance delivered an enlightening talk on the evolution of the insurance sector in India. Having worked with LIC for the past 27 years, Mrs. Vasumati spoke eloquently about the past history of the insurance sector and the role of LIC in reaching out to the masses. Through interesting anecdotes from her past experience, Mrs. Vasumati lucidly explained the paradigm shift that occurred when private players entered the insurance sector. She concluded the talk by listing the challenges that lie ahead and outlining future areas of growth in the insurance sector.

“Competing strongly with Hong Kong, Singapore and Shanghai, Mumbai stands a fair chance to be the next financial hub of Asia” said Dr S. Chattopadhyay – General Manager, Bankers Training College, RBI. Speaking about India’s prospects in the export of financial services, she elaborated on how human capital and geographical advantage can help India compete with China in the Asian scenario. Dr. Chattopadhyay urged the students to “Think global, go global and project the nation globally” to transform India into a global financial hub.

As part of the event, ERudite, an Equity Research game was launched where students from the IIMs and other top B-Schools will compete over the next month for prize money worth Rs.75000. Oil Raiders – an Oil based derivatives game, a Case Study competition and a Panel Discussion on “Infrastructure: Transforming bottlenecks into milestones” were also conducted as part of the seminar.

Arthanomics 2007 was sponsored by Sundaram BNP Paribas. Business Standard was the print media partner and IndiaInfoline was the online media partner for the event. The event was conducted by Financially Yours, the Finance Interest Group of IIMK.

For more information, please visit http://www.iimk-fy.com/