Dr Raghuram Rajan and Dr Rohit Lamba Launch Breaking the Mould: Reimagining India’s Economic Future

Dr Raghuram Rajan and Dr Rohit Lamba Launch Breaking the Mould: Reimagining India’s Economic Future

6 January, 2024, Chennai: Krea University hosted the book launch of Breaking the Mould: Reimagining India’s Economic Future by Dr Raghuram Rajan, Member, Governing Council, Krea University and Katherine Dusak Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business and Dr Rohit Lamba, Assistant Professor of Economics, Pennsylvania State University. The event was held at Taj Club House in Chennai.

Eminent thought leaders from diverse fields were in attendance, including Lakshmi Narayanan, Chancellor, Krea University, Dr Palanivel Thiaga Rajan, Minister for Information Technology & Digital Services, Tamil Nadu and N Ram, Director, The Hindu Group Publishing Private Limited. 

In the welcome speech, Lakshmi Narayanan, emphasised how over the years, Dr Rajan has gifted ideas, experience, and time to build the foundation of Krea. How in the context of a world that no longer works in silos, Dr Rajan has been a firm believer in creating a space where wholesome education enables young open minds to embark on the journey of becoming thinkers, do-ers and changemakers. The closing remarks were delivered by N Ram and the event included a discussion between the authors and Jude Sannith, Assistant Editor, CNBC-TV18.

Breaking the Mould: Reimagining India’s Economic Future sheds light on India’s economic future, the nation’s own distinct space in the global economy, the future of employment, and innovative ways forward.

Here is a glimpse into the event, that was :

View the complete event here

Eminent Thought Leaders Unravel Critical Narratives at the IFMR GSB Research Symposium on Finance and Economics (RSFE) 2022

Eminent Thought Leaders Unravel Critical Narratives at the IFMR GSB Research Symposium on Finance and Economics (RSFE) 2022

On 16–17 June 2022,  IFMR Graduate School of Business at Krea University played host to  the  third edition of the Research Symposium on Finance and Economics (RSFE) 2022. Eminent keynote speakers and more than 50 academics came together to present, discuss and deliberate on critical narratives in the field of Finance and Economics

The Research Symposium on Finance and Economics (RSFE) 2022 that was held on June 16 and 17, this year, received 83 papers from academicians and scholars from Oxford Said Business School, University of Cambridge, Yale School of Management, Cornell University, The University of Queensland, Chukyo University, Hong Kong University of Science and Technology, Kellogg School of Management, Northwestern University, Indian Institute of Management Ahmedabad among many other prestigious global institutions.

The inaugural day of RSFE 2022 witnessed three keynote lectures, three technical sessions and 28  paper presentations from academics spanning eight countries and over 28 universities across the globe.

In his welcome address, Professor Praveen Bhagawan, Chair, RSFE 2022 and Assistant Professor of Finance and Area Chair (Finance) at IFMR GSB said, “RSFE is an important event in the academic calendar of IFMR GSB. More than 50 researchers from India and abroad will present their highly esteemed research in the areas of finance and economics this edition. The aim of the Symposium is to create a forum for discussion and deliberation on emerging issues in finance and economics.”

In her opening remarks, Prof Lakshmi Kumar Dean, IFMR GSB, Krea University said, “Historically, IFMR has always been a research institution around finance and economics. In both areas IFMR has made significant contributions as we have introduced models to understand what moves markets and made significant contributions towards economic policy. With the introduction of the Research Symposium, the quality of research has moved up exponentially. It was tough to select papers for the Symposium as the quality was very high.”

Addressing the attendees, Ramkumar Ramamoorthy, Pro Vice-Chancellor, Professional Learning, Krea University, said, “There has been a structural alteration of the business landscape – technology has become the language of business and sustainability its underlying grammar. IFMR has focused on finance and economics for more than five decades. This institution has the distinction of having a very strong association with the government of India with several distinguished academicians having served the government in very high posts. Given this context, I am thrilled that IFMR GSB has taken the lead to organise this Symposium and also invited so many illustrious speakers.”

The inaugural and Keynote Address presentation by Prof Itay Goldstein, Joel SEhrenkranz, Family Professor of Finance and Professor of Economics, Wharton School, University of Pennsylvania, United States, touched upon the results of a study on how environmental, social and governance (ESG) investing re-shapes information aggregation by prices. “Investors are increasingly showing interest in other aspects of a firm’s operation namely ESG – Environmental, Social and Governance. This is a revolution for the way asset markets work since now there are investors who are potentially interested in different things – cash flow vs ESG”, he added.

Prof Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance, Judge Business School, University of Cambridge, United Kingdom, delivered his Keynote Lecture titled “Information Processing in IPOs: The Case of Board Gender Diversity”, examining the impact of board gender diversity on the underpricing of initial public offerings (IPOs).

Prof Rau said, “IPOs with at least one woman on the board are significantly more underpriced than IPOs with all-male boards. The underpricing effect is not attributable to performance, growth opportunities, CSR profiles, or other firm characteristics. Instead, the underpricing effect appears to be driven by increased institutional investor demand for board gender diversity. Over the past decade, institutional investors and firms have placed increased emphasis on stakeholder value maximisation, diversity, and other CSR related topics.”

Prof Uday Rajan, David B Hermelin Professor of Business Administration and Professor of Finance, Stephen M Ross School of Business, University of Michigan, United States delivered his Keynote Lecture titled “FinTech and the Boundaries of the Bank”. Prof Rajan focused on FinTech competition in payment, observed in recent years. He discussed some innovations in payments, such as those which use existing bank and credit card infrastructure (Paypal, Paytm, Square, Venmo) and those based on new technology by-passing the banking system (Alipay, WeChat Pay and M-Pesa).

The second and concluding day of the Symposium witnessed three Keynote Lectures, three technical sessions and 26 paper presentations from academics spanning 41 universities across 11 countries.

Prof Campbell R Harvey, J Paul Sticht Professor of International Business and Professor of Finance, Fuqua School of Business, Duke University, United States, delivered his Keynote Lecture titled “DeFi: Opportunities and Risks”. In DeFi or Decentralised Finance, users interact as peers with algorithms or smart contracts rather than through traditional intermediaries such as banks, brokerages, or insurance companies. “DeFi is the future of financial transactions”, said Prof Harvey.

During her Keynote Address at RSFE 2022, Prof Ashima Goyal, Member of Monetary Policy Committee, Reserve Bank of India and Emeritus Professor at IGIDR, India, said that India has been going through a very tough time and there were all kinds of preconceptions and predictions that the Indian financial sector is fragile, cannot recover without major reforms, there exists a trust deficit, PSBs are the problem and privatisation is the only answer; but the financial sector has really surprised everyone by outperforming during this period.

Prof Ashima said, “India has the largest share of youth and combined with technology, innovation and inherent resilience there is great opportunity to kick-off a virtuous growth cycle, with inclusion largely from empowerment” she added. Ending with a word of caution, she said though the sector performed beyond expectations there were still lots of risks and uncertainties that one should be careful of. Excessive stimulus or tightening can prove countercyclical for the Indian financial sector.

Prof Nishith Prakash, Associate Professor of Economics, University of Connecticut, United States, delivered the last Keynote Address titled  “Improving Girls’ Education: Evidence from Two Countries”. He shed light on how despite considerable progress in closing the gender gap in education, there still exist several barriers to human capital accumulation for girls in developing countries, such as distance to school, safety and violence, lack of agency and socio-cultural barriers. In this talk, Prof Prakash provided both experimental and non-experimental evidence from India and Zambia.

Research papers were called for various topics in the field of Finance and Economics, including Corporate Finance, Capital Structure and Dividend Policy, Corporate Governance, Mergers and Acquisitions, Financial Reporting and Regulations, Behavioural Finance, Computational Finance and Financial Econometrics, Asset Pricing, Financial Markets, Derivatives Trading and Pricing, Market Microstructure and Algorithmic Trading, Banking and Risk Management, Digital Finance, Financial Tech, AI, and Machine Learning.

RSFE 2022 concluded with the presentation of the ‘Best Paper Awards’ in the areas of finance and economics. The awards were sponsored by CFA Institute and IFMR GSB.

Research Symposium on Finance and Economics by IFMR Graduate School of Business at Krea University

Research Symposium on Finance and Economics by IFMR Graduate School of Business at Krea University

Chennai, 13 June 2022:

IFMR Graduate School of Business at Krea University will be conducting the third edition  of their research symposium on Finance and Economics virtually on June 16 and 17, 2022. The Research Symposium aims to bring researchers, academicians, and practitioners in finance and economics from across the globe to present, discuss and deliberate upon emerging issues in finance and economics in the contemporary world. Over two days of talks and presentations, the Symposium seeks to unravel critical narratives in the field of Finance and Economics while presenting key leadership insights. 

The speakers, at the research symposium include Prof Itay Goldstein, Joel S Ehrenkranz Family Professor of Finance and Professor of Economics, Wharton School, University of Pennsylvania, US; Prof. Raghvendra Rau, Sir Evelyn De Rothschild, Professor of Finance, Judge Business School, University of Cambridge, UK; Prof Uday Rajan, David B. Hermelin Professor of Business Administration, Professor of Finance, Stephen M Ross School of Business, University of Michigan, US; Prof Campbell R Harvey, J Paul Sticht Professor of International Business and Professor of Finance, Fuqua School of Business, Duke University, US; Prof Nishchit Prakash, Associate Professor of Economics University of Connecticut, US; Prof Ashima Goyal, Member of The Money Policy Committee at RBI and Emeritus Professor at IGIDR, India.

Leading up to the Symposium the call for papers saw a great response with 83 papers received from scholars spanning various countries including the United States, United Kingdom, Germany, Australia, Belgium, China, Hong Kong, and many more. Research papers were called for various topics in the field of Finance and Economics, including Corporate Finance, Capital Structure and Dividend Policy, Corporate Governance, Mergers and Acquisitions, Financial Reporting and Regulations, Behavioural Finance, Computational Finance and Financial Econometrics, Asset Pricing, Financial Markets, Derivatives Trading and Pricing, Market Microstructure and Algorithmic Trading, Banking and Risk Management, Digital Finance, Financial Tech, AI, and Machine Learning   

The Research Symposium will witness papers from academicians and scholars from Oxford Said Business School, University of Cambridge, Yale School of Management, Cornell University, The University of Queensland, Chukyo University, Hong Kong University of Science and Technology, Kellogg School of Management, Northwestern University, Indian Institute of Management Ahmedabad among many other prestigious global institutions.

Dr. Lakshmi Kumar, Dean IFMR GSB Krea University said, “The Research Symposium on Finance and Economics (RSFE) 2022 is IFMR GSBs contribution to the culmination of quality research from all over the world. It showcases contemporary pioneering thinkers/speakers, research that is cutting edge and brings together actionable intellectual debates. In its third edition the call for papers has been overwhelming, which just portrays the faith that researchers have in this Symposium.”

A pre-symposium workshop on ’Impact of Covid Pandemic on Firms’ Policies’ will also be conducted by two eminent academicians, Julian Kozlowski from Federal Reserve Bank, St Louis, and Dr Anand Goel from Stevens Institute of Technology on June 15, 2022.

To register for the Research Symposium please click this link

To register for pre symposium workshop please click this link

Announcement: Sustainable Transport

Announcement: Sustainable Transport

Transport is one of the largest global contributors to air pollution and emissions. Petrol and diesel fuels create harmful byproducts like nitrogen dioxide, carbon monoxide, hydrocarbons, and formaldehyde. Furthermore, these fossil fuels contribute to substantial carbon dioxide emissions. These have a detrimental impact on human health, climate, and ecosystem integrity, constraining our collective sustainability efforts. In addition, the rising cost of fuel puts a strain on individuals, organisations, and societies, making sustainable travel not just an eco-friendly decision, but an economic necessity, too. 

We should aim to take small but concrete steps towards this by exploring resources and facilities which are already available for us. A simple, convenient, and cost-effective way of minimising our negative environmental footprint is to consider the use of alternative modes of transportation, such as shared vehicles and public transport (trains and buses). To inspire all members of our Krea Community, gravitate toward sustainable travel options, and facilitate the transition, we have created a pamphlet, ‘Train Travel: Green. Sustainable. Efficient.’ Take a look at the practical information contained in it — in particular, the public transport alternatives, timetables and cost associated with each, to make informed and responsible travel decisions. 

Click to access the pamphlet

The Sustainability Pledge

The Sustainability Pledge

25 Steps Toward Sustainable Lifestyle

The choices we make in our everyday lives have a significant environmental, social and economic impact. Yet we have agency over our behaviour, a capacity to be conscious environmental stewards and socially responsible citizens. The shift to a sustainable lifestyle does not necessarily demand difficult tradeoffs or uncomfortable adjustments. A good way to start would be to make a few simple changes in our daily actions — from reducing our environmental footprint to supporting local communities. We invite you to take the Krea Sustainability Pledge, and incorporate as many as possible of the following 25 sustainability principles into your daily routine.

I pledge to become Krea’s sustainability champion by committing to the following: 


  1. I will switch off the lights, fans and air conditioning when I am the last one to leave a room
  2. Whenever possible, I will take the stairs instead of using the elevator
  3. I will unplug phone/computer chargers and other electronic items when not in use
  4. I will report any faulty light fixture or power switch to Campus Operations


  1. I will conserve water by keeping my showers to under five minutes, or restricting my baths to a maximum of 2 buckets
  2. I will turn off the tap while brushing my teeth and washing my hands (scrubbing my hands with soap)
  3. I will mindfully use the two buttons on the dual flush toilet
  4. I will report any leaking faucets to Campus Operations

Food and Waste

  1. I will not waste any food by taking more than I can eat
  2. I will segregate my waste on campus — as per the labelled segregation category on the bin
  3. I will print only when unavoidable. If printing is necessary, I will print double-sided
  4. I will use my own mug/flask for tea and coffee, instead of relying on disposable paper cups
  5. I will try to repair broken items before I throw them away
  6. I will share, donate or sell any items I no longer need, instead of just throwing them away
  7. I will reduce my consumption of processed and/or packaged food and eat more locally sourced, seasonally grown, fresh food
  8. I will avoid single-use plastics, such as plastic bags, PET bottles, straws, styrofoam, etc


  1. I will reduce my carbon footprint by walking, riding a bicycle, using public transport, trains or carpooling , as alternatives to commuting alone by car or traveling by plane 
  2. Whenever possible, I will use video conferencing to reduce the need to travel

Nature Appreciation and Holistic Wellbeing

  1. I will improve my physical health and fitness by regular walking, jogging, cycling, exercising, practicing yoga, participating in sports, etc
  2. I will engage in activities that foster appreciation for nature, such as hiking, camping, bird watching, wildlife photography, sketching outdoors, stargazing, exploring indigenous flora and fauna, etc
  3. I will regularly allow myself a digital detox, by spending enough time outdoors, and away from the screen
  4. I will maintain a healthy circadian rhythm by having a minimum seven hours of sleep every night

Responsible Citizenship

  1. I will volunteer in at least one social outreach initiative in my community
  2. I will be a conscious consumer, by purchasing more fair trade, locally/regionally produced items, thus supporting the livelihoods of local communities
  3. I will encourage friends and family to adopt a similar sustainability pledge

Krea University conducts health awareness programme for women support staff

Krea University conducts health awareness programme for women support staff

Personal hygiene kits distributed to women support staff

Chennai, June 02, 2022…On Menstrual Hygiene Day, Krea University conducted an outreach activity in an attempt to increase awareness of all issues related to menstruation. This was an initiative of the Student Outreach Club, Aikyatha in collaboration with the Office of Student Life at Krea. On the occasion, personal hygiene kits from Gohygiene Foundation Chennai was presented to all women present.

Dr Sulochana Christopher from Kauvery Hospitals led the workshop for more than 45 women support staff at Krea University on all health-related issues including myths surrounding menstrual issues. The talk was conducted in Telugu, with Dr. Sulochana patiently explaining various aspects and addressing all doubts raised by the support staff. Personal hygiene kits from Gohygiene Foundation Chennai were presented to all women present.

The event began with a video outlining various health issues facing young women. It sought to dispel all fears and myths surrounding the onset of menstruation in young girls and touched upon various issues in some detail. The video drew the assembled women’s attention to issues that would occur naturally with the onset of menstruation and alerted them to issues that would require consulting a gynaecologist. Some home-made remedies to alleviate physical discomfort were highlighted and tips on personal hygiene were also shared.

Dr Sulochana Christopher of Kauvery Hospital then addressed the assembled women and explained to them in detail how normal the onset of menstruation in a young girl is, how to keep oneself healthy, the importance of proper nutrition and alerted them to health issues.

Vidhya Munuswamy, Dean of Students said the event was in line with the institution’s commitment towards sustainability. “The health and well-being our staff is of utmost importance to us; the support staff at Krea are recruited from the neighbouring villages in the region. As earning members of their households, we want to ensure they are well looked after.”

Speaking at the event, Dr Christopher said, It is important that many more institutions conduct these kinds of awareness initiatives events to reduce fear and clear misconceptions. It is the best way to keep yourself healthy and happy.

Dr Christopher went on to speak about the proper way to dispose of sanitary pads, and other precautions that need to be taken during the menstrual cycle.

Bolt 2022: Krea’s First-Ever Olympics Festival

In May 2022, a Sports Festival called Bolt took place on the Krea campus. The nine-day mega event, fully organised by the students, saw more than 150 participants across sixteen sport disciplines. Bringing together both experienced athletes and sports enthusiasts, Bolt 2022 excelled in exhibiting wonderful team spirit, fair competition and, above all, a lot of fun.

Johanna Zaheer Hashmi and Priyanka Prasanna Acharya, first-year students at SIAS, have been instrumental in spearheading and organising the event. Both are passionate athletes. Johanna has been playing football for ten years and competes in various track and field events including (but not limited to) vaulting, shot put, long jump, high jump, and cross-country running. She has studied taekwondo, karate and judo, and is currently learning boxing. She is incredibly passionate about sharing football with her peers and making sports fun for everyone, regardless of their skill or background. Priyanka has been a competitive rhythmic gymnast for the past 10 years and has represented India at Asian championships. She also enjoys kickboxing, running, and cycling. She has been an exercise enthusiast since her childhood and is interested in exploring and learning new sporting activities and sharing her experiences & skills with everyone.

What is Bolt 2022? When did this event take place?
Johanna: Bolt 2022 is the brainchild of the SIAS Sports Club and it is the first-ever Olympics festival held at Krea. It was a nine-day sporting event that was conducted from the 6th of May to the 15th of May 2022.

Could you tell us a bit about the Sports Club at Krea, its purpose, membership and organisational structure?

Priyanka: The Sports Club consists of 2 sports representatives, 13 sports heads, and approximately 130 club members. The sports club is divided into sports and non-sports wings, where all sports club members contribute toward building a sports culture at Krea. The sports heads propose events and ideas, which are discussed with the core committee and then the representatives to help make those events a reality. The sports club meets thrice a month to discuss the events, agendas, and goals for the trimester.

How was the idea of organising a week-long sports event at Krea conceived?

Johanna: Since we began our term, we’ve had in mind a sports event that would include all the sports students at Krea want to play. From discus throw to a marathon, we wanted to do everything under the sun. It started with the idea of a university-wide Olympics, that later got chiseled down to sports that we have the equipment for and sports we want to start playing at Krea. We had lots of conversations and meetings with the core committee and the sports heads, and together came up with Bolt. We also had meetings with the Office of Student Life (OSL), Vidhya Munuswamy, Dean of Student Affairs, and Bhavani Theagarajan, Manager, VC Office. We also spoke to the Operations Team about the required manpower that we would require before and during the sporting event. Bolt 2022 was conducted in collaboration with the Recreation Club, which handled the indoor sporting activities. Overall, it was an amazing experience that all the three batches were eagerly waiting for, and it was a hectic but engaging event to manage.

Which sports disciplines were included, and what made Bolt 2022 a success?

Priyanka: The Bolt 2022 sports events were divided into two categories: indoor and outdoor sports. The outdoor sports played were badminton, basketball, cricket, dodgeball, throw ball, volleyball, discus throw & shot put, tug of war, kabaddi, kho-kho, and half marathon (2.5 km). The indoor sports included were table tennis, carrom, chess, pool, foosball.

We estimate that over 150 students participated in Bolt 2022. We owe great debts of gratitude to the Dean of Student Affairs, CAO, OSL, Operations, and Bhavani for all the support throughout the Festival. We would also like to recognise the efforts of Anten Jesu, our trusty cameraman who documented our events. A big thank you to all the volunteers & referees who have selflessly contributed and helped us run the entire event smoothly and efficiently. We would also like to appreciate the efforts of the Sports Club Core Committee, without whom Bolt would not have happened. Last but definitely not least, a big thank you to the student body for bringing your talents and potential to the field and inspiring us to keep organising events like this.

Finally, we wish to acknowledge the great contribution of the thirteen Sports Heads who created Bolt 2022 from scratch, made it such a success, and now continue to shape all future sports initiatives at Krea:

Football Heads: Arjun Anand & Pria Jacob
Basketball Heads:
Chirag Singhal & Smriti Venkatraman
Badminton Heads:
Jeswin John & Adnan Qureshi
Cricket Heads:
Hariom Khemka & Pranav Balakrishnan
Volleyball Heads:
Aparajith Kaushik & Shruti Dalal
Miscellaneous Sports Heads:
Rohit Behera & Smriti Mishra
Indoor & Gym Head:
Arya Dutta

What future events is the Krea Sports Club planning?

Johanna: A few prospective events which we plan on conducting are faculty-student matches, track & field events, powerlifting, and a proper marathon in Sri City. We are also planning on starting self-defence classes and basic MMA training on campus, as many students are interested and would like to explore those disciplines. We are also planning on conducting more yoga workshops and staff-student matches to help inculcate a stronger sports culture at Krea.

For more pictures and information regarding Bolt and other sporting activities at Krea, please check out Krea’s Sports Club Instagram page: https://www.instagram.com/krea_sports/

CFOs Need to be Co-pilots to the CEO, Sustainability Champions, M&A Wizards and Storytellers says Krea University and D&B Study

CFOs Need to be Co-pilots to the CEO, Sustainability Champions, M&A Wizards and Storytellers says Krea University and D&B Study

Krea University and Dun & Bradstreet’s Quantitative and Qualitative Study of CFOs in the Nifty 250 Presents the “The Future CFO: Changing Roles, Changing Goals”

  • The biggest challenges for CFOs are availability of skilled person-power, broader stakeholder management and managing new-age roles driven largely by digitization and sustainability
  • Finance executives with an MBA degree experienced faster career growth

Mumbai and Chennai, May 30, 2022: The IFMR Graduate School of Business at Krea University and Dun & Bradstreet (D&B) today announced the findings of a study that captures the shifting priorities, new focus areas and diverse skill sets of new-age CFOs. Titled “The Future CFO: Changing Roles, Changing Goals”, the study is based on quantitative and qualitative insights from dozens of Indian CFOs and outlines the changing role of CFOs, key capabilities and competencies needed for CFOs of today and tomorrow, and the shifting priorities and newer responsibilities for CFOs. The study also presents interesting changes in the demographics of Indian CFOs over the last five years.

Mr. Ramkumar Ramamoorthy, Pro Vice-Chancellor for Professional Learning at Krea University,said,“Technology is fast becoming the language of business, and sustainability its underlying grammar. Rapid digitalization and a sharper focus on ESG have triggered a renaissance in the CFO office. Today’s CFOs play multiple roles—they are trusted partners to CEOs on not just financial but also strategic matters, conscience-keepers of Boards in enhancing stakeholder trust, storytellers deriving hindsights, insights and foresights from financial data, and PE-minded investors strengthening core businesses with investments in next-gen start-ups. This study delves into the skills, attributes and actions required of new-age CFOs to transform their organizations into purpose-led brands, drive profitable growth, enhance stakeholder satisfaction, and increase competitive differentiation.”

Ms. Preeta Misra, Senior Director, Dun & Bradstreet India said, “The relationship between a CEO and a CFO is critical for any business. Our study foundthat the ability to envision the business growth is the most important trait for a CFO. To be a trusted partner to the CEO, CFOs need newer skills to address newer demands of the market. The finance team now needs to become a multi-disciplinary team to champion organizational transformation, to manage existing challenges and capitalize on newer opportunities.”

Key takeaways:

  1. Availability of skilled person-power remains one of the biggest worries for CFOs.
  2. MBA is a career accelerator. In Nifty 250 companies, 47% of CFOs with an MBA are under 50 years, as compared to 35% of CFOs with non-MBA qualification for FY 2022.
  3. From traditional CFO-led activities—accounting and auditing, financial analysis and planning, investor relations, financial risk management, product pricing and regulatory compliance—CFOs now find themselves more involved in corporate strategy, organizational transformation, digitization, enterprise risk management and ESG implementation, and they feel these would be focus areas for next five years as well.
  4. Leaders need to walk the talk. The avowed commitments made by boards to increase diversity at executive levels do not reflect in the actual appointments. In FY 2022, there was no woman CFO in Nifty 50 companies, and the number was less than 5% in Nifty 250 companies.
  5. 86% CFOs gave high importance to digital technologies such as analytics, artificial intelligence, blockchain, and cloud-based systems that are increasingly deployed to help CFOs transition from “systems of record” to “systems of engagement and intelligence”. This calls for new-age competencies largely driven by new-age technologies.
  6. CFOs need to build relationship capital through greater people-oriented skills including communication and collaboration with teams across the organization.
  7. CFOs need to be storytellers to present the larger corporate purpose as well as business, operational and financial strategy to multiple stakeholders.
  8. In addition to allocating capital to minimize unsustainability, CFOs need to create newer financial models to shape business sustainability and achieve publicly disclosed sustainability goals.
  9. Educational institutions and professional bodies need to curate new-age programs across these focus areas and new-age skills to enrich the capabilities and competencies of finance professions in the country.


About the report

The report highlights the shifting priorities, challenges faced, and key focus areas of CFOs based on primary surveys. The survey interviews of CFOs were conducted between January and March 2022.  To capture the demographic changes, D&B analysed the Nifty 250 companies—Nifty 50, Nifty Next 50 and Nifty Midcap 150 index companies for FY 2016 and FY 2022 to see how the needle has moved over this period across different facets and mine insights. D&B chose the Nifty 250 as they represent over 70% of sales for FY 2022 of India Inc. and constitute about 86% of market capitalization of the listed NSE universe.

Click here for the report

About IFMR GSB at Krea University

Propelled by the 50 years strong legacy of IFMR and in line with Krea University’s ethos of re-imagining education empowered by the unique Interwoven Learning, IFMR Graduate School of Business is preparing impactful and effective business leaders who can solve the problems of the future. Having evolved from a research-based institution to a full-fledged business school IFMR GSB’s curriculum blends a mix of theory with simulated real-life exposure and endeavours to shape business practices through inventive, sharp thinking and cutting-edge research. Porous boundaries bring the real world to the classroom and enable students to gain an an immersive learning environment, aided by programmes, internships, workshops and sessions in collaboration with diverse global institutes and eminent speakers from varied fields. IFMR GSB offers a full-time MBA programme, executive and management development programmes for experienced professionals and PhD program in affiliation with University of Madras.

Over 20 years, IFMR GSB has built a robust network of 5000+ eminent alumni across the spectrum of industries who bring in valuable insights and expertise to the students while the illustrious Academic Council provides deep insights and direction to IFMR GSB’s teaching, design curriculum, research and related activities. The Governing Council, Executive Committee, and Board of Management at Krea University include eminent leaders from the world of finance and economics such as N Vaghul (former Chairman of ICICI Bank Ltd), Raghuram Rajan (the 23rd RBI Governor), R Seshasayee (former Chairman of IndusInd Bank), Raghu Sundaram (Dean of NYU Stern School of Business), S Mahalingam (Former Chief Finance Officer. & Executive Director. Tata Consultancy Services), and Esther Duflo (Nobel Laureate and Co-Founder and Co-Director at the Abdul Latif Jameel Poverty Action Lab (J-PAL), among others.

IFMR GSB at Krea University Contact:

Name: Akhila Krishnamurthy
Email: [email protected]

About Dun & Bradstreet

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.

Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions in domains of finance, risk, compliance, information technology and marketing. Working towards Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity. Visit www.dnb.co.in for more information.

Dun & Bradstreet Contact:

Name: Kaustav Bhattacharya
Email: [email protected]
Mobile: 9650306645

Unravelling a Narrative on Education, Economy and the Vision Forward with Dr Raghuram Rajan

Unravelling a Narrative on Education, Economy and the Vision Forward with Dr Raghuram Rajan

“Our development has to build on our unique aspects, more specifically on our liberal democracy and institutions, and that will be our strength. The future is limitless.”  

These inspiring words pitched the gateway to a deeply insightful session anchored by Dr Raghuram Rajan, as he shared narratives on the need-of-the-hour remedies for India’s economic recovery, on creating better education and healthcare systems, and working on using hard infrastructure to facilitate access to markets.

In a wide-ranging discussion, with the students at Krea, Dr Rajan also responded to a room brimming with questions and shared his perspectives on various aspects, from making a choice to move away from the rat race, better ways of financial inclusion, entrepreneurship and its merits, lessons from history and the need for young students such as the audience to fight for preserving and advancing the India that we have created, with resilience and optimism.

Dr Raghuram Rajan kicked off the interaction shedding light on the K-shaped economic recovery in India and how poor employment numbers are the key indicators of economic underperformance.

“One of the numbers that really struck me is the female participation in the workforce in India and it was the lowest in G 20 along with Saudi Arabia in 2019.  Even Saudi Arabia has reformed, opening up jobs for women, their labor force participation for women is 33% today, we are still at 20%. We have a long way to go.”

He expressed the need for a reality check, on what could be rectified and done differently. On why a country with definite successes such as the largest two-wheeler industry in the world, ability of ISRO to send missions to Mars for a fraction of the cost as NASA and whose UPI is being emulated in many countries as a case study of fast payments, is still underperforming.

He laid emphasis on creating hard infrastructure that allows connections and access to markets and soft infrastructure such as creating more education and healthcare. He suggested that withing the economy, India focus on services more than goods. He conveyed the importance of investing in people and how the biggest concern today is not economic recovery but schooling, especially of young children in government schools who have been set back by two years and are in the danger of dropping out.

Reminiscing his time at RBI, he spoke of days when they would step out to have a meal at the home of a Class 4 employee, the lowest tier of employment in the organisation. “It was a fascinating sight to see the children of these employees work with Infosys and some as bank managers. In one generation they had moved out of the low level of employment to this, that’s what education can do.”

As the session moved on to the Q&A segment, the questions rolled in succession. Answering one of the queries on disparity, he retorted “We have to work on ensuring quality of education spreads from stronger universities to weaker ones. Universities like Krea should become research universities, so they can train teachers and students at Krea could do a PhD, come back and populate the other universities. Create an ecosystem and spread the benefits. This won’t happen overnight and will take 20-30 years to realise but any vision has to start now.

In answer to a query on colonialism and India and its dire effects on India’s progress, Dr Rajan recommended that we look forward and use history in matters such as dialogues on climate change. “Use it to insist on the right to more emissions than Western countries as they have been destroying the atmosphere for a much longer time”.

Speaking in response to a question on financial inclusion, Dr Rajan emphasised how entities in microfinance do bridge the gap through easy facilitation of credit, but the bigger problem lay in the management of finance by the poor. There is an urgent need of imparting skills and education before providing credit to them. In many such cases, Fintech could step in at places where banks are reluctant and even hand hold them, exploring new possibilities and ways to access.

On being asked to comment on the ‘rat race’ and a way out of it, he advised, “You can refuse to be part of the rat race. There are so many possibilities today. As we grow richer as a country, we can afford basic living in what we do and wherever we are. Then you can look at fulfilment in what you do instead of from the salary you are getting.”

Sharing anecdotes laced with humor from his own life experience, Dr Rajan explained how during his younger days, the choices were limited to either the IIT, the stream of medical science and to some extent the Economics at St Stephens and becoming an entrepreneur was often associated with youngsters who couldn’t land employment opportunities. On how he succumbed to the rat race, studied at IIT and later circled back to Economics. He shed light on how there were innumerable opportunities for the young graduates today.

As a parting note, Dr Rajan left these powerful words with the young audience to mull and act on. “As young people you need to fight for a better India, the future of the country is in your hands. Fight for a country which embodies the best of the past. We have a constant battle on what is best and it’s you who has to decide that. The experiment of India that our founding fathers thought of is a bold one, let’s not lose the best of what we created, let’s preserve that. Do whatever you do with all the energy you have. It’s not necessary to be a social worker or work in an NGO, you can produce the best widget in the world and still add value. Just go out and be the best in whatever you do.”

Lekshmi Gopinathan reports, from the Communications Desk.

Consulting, Finance and Technology Majors Hire Over 95 percent of IFMR GSB students

Consulting, Finance and Technology Majors Hire Over 95 percent of IFMR GSB students

Students Make it Big with New-age Roles in Risk and Financial Advisory, Digital Consulting, Financial Planning and Analysis, Risk Consulting and Modelling, Business Analysis, Management Consulting and Valuation Consulting

Sri City, March 24, 2022—IFMR Graduate School of Business (IFMR GSB) at Krea University today announced that 165 of the 175 students who sat for placements have been hired by leading global and Indian consulting, finance and technology companies, while others have been hired for roles in strategy, marketing and operations. Notably, students got new-age roles in valuation consulting, risk and financial advisory, digital consulting, financial planning and analysis, risk consulting and modelling, business analysis and management consulting.

This year saw a total of 78 recruiters, of which 34 were new recruiters. Some of the prominent recruiters included Barclays, EY, Deloitte, KPMG, PwC, JP Morgan, Wells Fargo, Credit Suisse, Accenture, Société Générale, CRISIL, Temenos, Tiger Analytics, ZS Associates, Cognizant, Infosys, Wipro, Oracle, HCL Technologies, Genpact, Philips, Tata International and Northern Arc, to name a few.

With next-generation finance, technology and manufacturing operations projected to be a more than a trillion-dollar opportunity for India between now and 2030 by consulting major McKinsey*, IFMR GSB’s focus in recent years has been to marry management with operations and technology that results in exciting careers and entrepreneurial opportunities for students. This year the average salaries were up by over 10 percent across the top 25%, 50% and overall, with the highest salary offered being Rs18 lakhs per annum.

“With the pandemic accelerating the shift to digital transformation, IFMR GSB’s focus on embedding data-science across all subjects attracted a large canvas of new recruiters to the campus,” said Prof Lakshmi Kumar, Dean of IFMR GSB at Krea University “While the average salaries have grown across bands, it’s heartening to note that students are pivoting more to exciting roles that provide them long-term career growth than merely be fixated on compensation and benefits.”

* https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/India/Indias%20turning%20point%20An%20economic%20agenda%20to%20spur%20growth%20and%20jobs/MGI-Indias-turning-point-Executive-summary-August-2020-vFinal.pdf