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Union Bank Centre for Banking Excellence Presents 2nd Great Lakes-Union Bank Financial Inclusion Conference at Great Lakes Campus


August 12, 2011 - Chennai, Tamil Nadu, India

The Union Bank Centre for Banking Excellence at Great Lakes Institute of Management, a leading management institute, founded by Prof. Bala V Balachandran, hosted the second conference on financial inclusion at their sprawling green campus at Manamai, here today. Dr. Y.V. Reddy, inaugurated the conference and delivered the key note address. Mr. S. C. Kalia, Executive Director, Union Bank of India delivered the presidential address.



The second Financial Inclusion Conference’s theme for the panel discussion this year was – “Microfinance: Panacea for Financial Inclusion? If so, how to get there?”. The speakers Dr. D.S.K. Rao from Micro Credit Summit; Dr. Mudit Kapoor from ISB, Hyderabad; Mr. Vivek Kulkarni from Brickwork India Pvt. Ltd. and Dr. Bappaditya Mukhopadhyay from IDF discussed the various issues around financial Inclusion, and in particular focused on Microfinance. The discussion was moderated by Dr. Subhashis Gangopadhyay from IDF and University of Gothenburg.

Speaking on the occasion Prof. Bala V. Balachandran, Founder & Dean, Great Lakes Institute of Management defined Financial Inclusion as "the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.” An index of financial inclusion places India, at the 50th rank with more than 60% of the population not having bank accounts. The committee under the chairmanship of Dr. C. Rangarajan made a number of recommendations and they are under various stages of implementation.



Prof. S. K. Shanthi, Chair Professor – UBCBE & Professor of Economics, Great Lakes Institute of Management, who is spearheading this initiative, said on the occasion, “Micro finance has the potential to provide access to credit and other financial services to the poor on a regular basis and contribute towards reducing poverty and make the growth process a more inclusive one.”

About Union Bank GreatLakes Centre for Banking Excellence:

GreatLakes Institute of Management, Chennai and Union Bank of India have come together to create a centre of excellence in banking, Union Bank GreatLakes Centre for Banking Excellence (UBCBE). UBCBE focuses on research and knowledge management in the domain of banking in India. The centre aims to understand and map the inherent nature and the dynamics of banking businesses, their drivers and critical success factors. The UBCBE will also act as a data bank in banking for academic researchers. The intellectual capital of GreatLakes and its collaboration with Yale and Stuart School of Business and the operating experience of Union Bank of India will be leveraged towards the above said objectives and bridge the current research gap in the Indian banking sector.

About Great Lakes Institute of Management:

Great Lakes Institute of Management is a leading B-school in India founded in 2004 by Prof. Bala V. Balachandran, J.L. Kellogg Distinguished Professor of Accounting and Information Management Northwestern University, USA, The institute has academic alliances with Stuart Graduate School of Business USA, Yale University USA., and Nanyang Technical University, Singapore. The institute offers a one year Post Graduate Program in Management. The B-school is a not-for-profit organization; Section 25 registered company with the mission of "A Global Mindset and Indian Roots".

To view the photographs, please click on the links given below:

Prof. Bala V. Balachandran, Founder & Dean, Great Lakes, Dr. Y.V. Reddy, Former Governor, RBI, Prof. S. K. Shanthi, Chair Professor – UBCBE & Professor of Economics, Great Lakes, Mr. S. C. Kalia, Executive Director, Union Bank of India & Prof. S. Sriram, Executive Director, Great Lakes

Mr. S. C. Kalia, Executive Director, Union Bank of India lighting the lamp, Prof. Bala V. Balachandran, Founder & Dean, Great Lakes, Dr. Y.V. Reddy, Former Governor, RBI & & Prof. S. Sriram, Executive Director, Great Lakes

Source: Business Wire India

BusinessWireIndia

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