The advent of digital currency in India is causing a drastic change in the banking & financial sphere. As the nation is getting closer to transforming into a cashless economy, technology is starting to play a major role in shaping the future of banking & finance. With this ongoing change, Engineers are starting to acclimatize to this change, as the work in this space is more dependent on technology than it was a few years back. The InsideIIM team visited Goa Institute of Management and had an in-depth conversation regarding the above with Prof. Kaushik Desarkar & Prof. Umesh S Mahtani.
Prof. Kaushik Desarkar is the Assistant Professor in Finance, with years of experience in financial risk management. He discusses how computer coding for data through programs like Python, SQL, Visual Basic, and so on, will soon be mandatory in most B-schools curriculum due to the shift of the current landscape of finance and dependence of technology can also replace the need for employees in certain areas of work. Prof. Umesh S Mahtani is the Associate Professor in Finance, his area of expertise being Accounting. He talks about the structure of the course that he curated in order to make Accounting easier for students of different backgrounds and also what the BFSI sector has in store for any individual who plans on pursuing a career in Banking and finance in the coming years.
Watch this video to learn more about the future of finance & accounting, along with the ongoing technological advancements in this space.
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Ansuman Mishra
All said and accepted. But is the opinion doing justice, by extrapolation on the basis of past and present figures? There will be a time when competition will be so high that the e-commerce companies will look for more than just the retail segments where they could differentiate themselves. There are sectors like agriculture, consumer awareness , education and medical facilities,to name a few, especially in rural India where the e-commerce companies can either make their own segment or outsource their services so as to reduce the distribution bottlenecks and provide better services. With mobile services penetrating rural areas now, it is a very large and untapped market. Done in the right way, it could give large returns and hence justify the valuations, if not now, then in the long term.
26 Aug 2014, 01.32 PM
venkat iyer
When we talk about valuations being inflated, we are talking about a context extending to a maximum, of say, 10 years. No valuation, for that matter, no projection is carried our beyond 10-12 years. Rural India has still a long, long way to go. When even electricity and roads are not implemented well in those areas, talking about e-services is a tenacious (in a frivolous sort of way) claim to make. We agree that there is growth, but not as fast as these valuations show us. In a matter of three months, the valuations rose in billions. Why did they not factor in this rural potential an year back? Was India so different? We say this is all because of the hype. It might not be a genuine valuation (calculated and rational).
26 Aug 2014, 06.59 PM
venkat iyer
"There will be a time when competition will be so high that the e-commerce companies will look for more than just the retail segments where they could differentiate themselves" Then why are just the valuations of e-tailing firms increasing? Why not other firms?
26 Aug 2014, 07.01 PM