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Mumbai, August 24, 2005: CNBC-TV18, the country’s premier
business channel and ING Vysya Mutual Fund, the world’s fourth
largest integrated Financial Services provider jointly presented
the CFO Brainstorm on ‘Treasury Management in India: Scope
for Aggression’ today in Mumbai.
The discussion brought together financial experts, top influencers
and luminaries, as well as renowned experts from the banking and
related fields like Deepak Sogani, CFO, Patni Computers, Ajay Mahajan,
CFO, YES Bank, Seshagiri Rao, Director Finance- Jindal Iron &
Steel Co, B Jaju, CFO of Crompton Greaves, Kaushik Chatterjee, VP
– Finance, Tata Steel , R. Venkatachalam, Director of Finance
& CFO, Leela Hotels, Mike Ferrer, Regional General Manager,
ING Asia Pacific who discussed whether monetary reserves of banks
and other financial institutions are being put to effective use.
Indian banks and companies have between them, a considerable amount
of monetary reserves accumulated owing to the rising levels of personal
wealth and increased profitability of corporate entities. A surplus
of investment opportunities still exists in the market for investors.
This is despite the fact that new mutual fund offerings like floaters,
dividend yield funds or even real estate funds are flooding the
market.
The CFO Brainstorm on ‘Treasury Management in India: Scope
for Aggression’ attempted to understand whether CFOs and treasury
heads have been truly successful in making the most of the funds
accumulated by the financial institutions. This highly interactive
discussion delved into whether corporate India and the nation’s
300+ banks are doing justice to their shareholders and the Indian
economy by exploring newer investment alternatives, the opportunities
that this environment presents and the challenges faced by treasury
managers and CFOs at these times.
Speaking at the forum, Kaushik Chatterjee, VP – Finance, Tata
Steel said “In the challenging global scenario, the timing
for raising funds for a company is as important a challenge for
a CFO as managing the surplus funds and protecting the capital.”
Seshgiri Rao, Director Finance- Jindal Iron & Steel Co added
that the role of a CFO has changed from just minimizing risk to
maximizing opportunities.
Summing up the entire scenario, Ajay Mahajan, CFO – YES BANK
said, “The accent has been increasingly on risk management
and awareness on the same has improved over the years among several
company boards. In an increasingly growing economy, with global
influences Indian companies need to improve their understanding
about risk management in addition to being aware of the international
financial markets that they would be exposed to.”
About CNBC-TV18:
CNBC-TVI8 is India's No.1 business medium. CNBC Asia Pacific holds
a strategic equity stake in the Indian registered broadcaster; Television
18. CNBC-TV18 is the undisputed leader in the business. The channel's
benchmark coverage extends from corporate news, financial markets
coverage, expert perspective on investing and management to industry
verticals and beyond. CNBC-TV18 has been constantly innovating with
new genres of programming that helps make business more relevant
to different constituencies across India. CNBC-TV18 is currently
available in over 26 million households in India.
For further information contact:
Glen D’Souza/Janice Goveas/ Lorraine Correa Hanmer & Partners
98214 14845/ 98193 16878/ 98198 900935
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