Centre for Financial Services & Research

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The “Centre for Financial Services & Research ” @ IMI-Kolkata will be a centre of excellence that will act as an agency for creation and dissemination of knowledge related to financial markets, financial products and services , financial regulation, in India and globally as well. This centre of excellence aims to work in collaboration with various stakeholders in the financial services industry to promote high quality research, skill upgradation and capacity development of finance professionals.

Relevance of the Centre:
The financial services sector is one of the most important sectors in the Indian economy. The financial services sector comprises several segments: commercial banks, insurance companies’, new-
age fintech start-ups, non-banking financial companies (NBFCs), co-operatives, pension funds, mutual funds, small and medium financial entities and recently established payment banks. The financial services sector accounted for 5.7% of GDP in fiscal year 2019/20 (April-March), according to the country's Ministry of Statistics. Bank deposits currently make up the bulk of households' outstanding financial assets (about 56%), followed by life insurance (23%), currency funds (13%) and mutual funds (7%). However, favourable tax treatment and modernisation of the economy will spur more people to increase their exposure to securities markets, thus giving a fillip to mutual funds, pension funds and brokerage firms.
Also, an increase in consumerism, the rising penetration of e-commerce and the formalisation of the economy will propel the use of cards and digital wallets helping the growth of fintech companies.
India is the 11th largest insurance market in the world, recording US$108bn in total premiums in 2020/21, according to a global reinsurer, Swiss Re. However, most Indians do not have access to insurance products, with the country holding an insurance penetration ratio (insurance premiums/GDP) of 4.1%. This is lower than many of its emerging peers, including Malaysia (5.4%)
and Thailand (5.3%). This opens up immense opportunities for both public and private insurers in India.
The anticipated growth in the financial services sectors opens up a plethora of opportunities for different stakeholders. However, along with growth, the sector also has to meet many challenges along this path. The “Centre for Financial Services & Research” would try to highlight and address these challenges by providing a platform for academicians and practitioners to discuss, deliberate and identify solutions to the problems faced by the financial services sector. The centre would also play a pivotal role in fulfilling the need for trained and skilled manpower by organising various training programmes, skill upgradation programmes and workshops on new and emerging technologies in the financial services domain.

Vision & Mission:

Centre for Financial Services & Research @ IMI-Kolkata aims to be known as a centre for excellence in professional education, research and consulting in the domain of financial markets and services. The centre will operate through following three fold agenda:

  • Creation and dissemination of knowledge through research related to financial markets and services.
  • Capacity development of public and private financial organizations.
  • Collaboration with industry and other academic institutions.

Objectives and Scope of work::

  • Collaborate with financial services organizations and academic institutions of national and international repute for global dissemination of knowledge related to financial markets and services.
  • Conduct training programs/workshops for professionals engaged in financial markets and services.
  • Conduct national/international symposium/conference/panel discussions/round table discussions on contemporary issues in financial markets and services.
  • Conduct high quality research related to various facets of financial markets and services.
  • Deliver short/long-term certificate programs in the area of financial markets and services.
  • Collaborate with financial market players for bridging the industry-academia gap and explore potential consulting opportunity.

Benefits to IMI Kolkata:

The proposed Centre will help IMI Kolkata in the following ways :-

  • Increase the brand perception of IMI Kolkata among the financial market participants ( banks , stock exchanges , depository , brokerage houses , asset management companies , insurance companies , NBFC’s , RBI etc.) by organising seminars , conferences , research colloquiums , guest lectures and training programs .
  • Assist in internship program and final placement of students of IMI Kolkata in financial services and allied sectors by leveraging on the relationships built with financial market participants.
  • Increase the revenue of the institute by organising short term, long term and certificate programs in financial markets and services.
  • Building the competency of the faculty by organising and participating in various initiatives of the centre.
  • Improve the ranking of IMI Kolkata in various accreditation scores by increasing industry interaction, diversity of programmes offered, and increasing outreach.

Member:

  • Prof. Surendra Poddar , Assistant Professor- Finance

The following are the events and activities conducted by the Centre for Financial Services & Research

  1. Training :   IMI Kolkata’s Centre for Financial Services & Research in association with NSE Academy has successfully launched the Post Graduate Certificate in Financial Markets (PGCFM). This is an 11 months executive weekend program, highly specialized in Financial Markets which aims to impart cutting edge training in financial markets for working professionals.


  2. Research Seminars :
  • Amit Jain Chauradia from Doane University

On July 25, 2023, IMI Kolkata was honored to host a discussion on the topic “Women’s Involvement and Social Enterprise Performance: Evidence from a Natural Experiment of Women Microentrepreneurs”. Dr. Amit Jain (AJ) Chauradia, MBA Program Director and Assistant Professor of Business at Doane University, USA was the esteemed speaker of the occasion. The speaker elaborated on the impact of the natural experiment on inclusion of more women in various social enterprises. He drew insights from his detailed research to cater to the researchers and our esteemed faculties who took an active part in the discussion. The seminar was attended by the faculty members and FPM research Scholars of the institute.

  • Munim Kumar Barai, Director, Ristumeikan Center for Asia Pacific Studies

On September 22, 2023, IMI Kolkata had the honor of hosting Dr. Munim K Barai, Director,Ritsumeikan Center for Asia Pacific Studies, Japan, to deliver a research seminar. The seminarcentered on the intriguing topic of “De-Dollarization: The Global Currency Order”. His discussion primarily focused on the concept of De-Dollarization and the emergence of a Multipolar World, setting the stage fr a potential new world order and the future shape of the global economy.

  • Swagato Chatterjee from Queen Mary University, London

On August 22, 2023, IMI Kolkata had the honor of hosting Dr. Swagato Chatterjee, a Senior Lecturer in Marketing Analytics at Queen Mary University, London, for a research seminar on the role of cultural values in green purchase intentions in India and Japan. The seminar provided insights into cultural connections, global perspectives, and real-world impact, enhancing business acumen and preparing participants for a global career.

  • Tapan Sarker from University of Southern Queensland, Australia

IMI Kolkata hosted a seminar on the 26th of July 2023, graced by our esteemed guest Professor Tapan Sarker, Professor of Finance, School of Business, University of Southern Queensland, Australia. He spoke about his research on “Expanding Electricity Access and Affordability in Remote and Rural Households in Uttar Pradesh in India: Issues and Fiscal Challenges”. He elaborated on the premises of his research and the various dimensions that contribute to the cause. The FPM students’ researchers and the faculties who took an active part in the discussion were inquisitive as he elaborated on various topics like Sustainable Finance, Disaster risk Financing and Blue Finance.


  1. Financial literacy – IMI Kolkata’s Centre for Financial Services & Research in association with Finastra, the Finance society of IMI Kolkata, organized various events to promote financial literacy and knowledge about financial markets