‘Credit Clash’ an event under International Service Avenue started under the leadership of Rtr. Jeevan Joshi, International Service Director. The core committee was declared on 29th Nov and afterward, different activities were planned and designed within 4-5 months.
The current pandemic has caused many to reflect on their financial situation and look closely at their financial habits. Financial literacy is imperative to manage money effectively. It’s one thing that will impact almost every aspect of our life. These current obstacles create an opportunity for all of us to improve our financial literacy. With this, the event ‘Credit Clash- Others’ Risk, Your Opportunity!’ was conducted on 8th & 9th May 2021.
At the start of the day, the Inauguration ceremony was done by the Chief Guest Mr. Indrajit Patil, a Senior Enterprise architect in a top global fortune 100 Banking organization, and Dean Students’ Welfare, Prof. Anil Surve. Chief Guest intimated participates with the upshot of financial literacy extance in real life. Further Prof. Anil Surve sir appreciated the efforts of the core committee for deciding to conduct such a grand event in an online manner and gave their insights on the finance. Shortly alumni joined us and graced the event with their presence.
In financial literacy, the banking sector is one of the important factors. To indicate this point, the first 3 sessions were organized. Here participants were divided into 16 teams. Participants were top billionaires of the country and decided to open the bank. Finally, together they formed their bank by sending an application letter to the central bank and buying equipment and building through auction after getting a license. Subsequently, they prepared a balance sheet for the bank. Further participants analyzed different companies by checking various parameters and then negotiated for the loan amount where they played the role of Bank manager and company representative. In this way, day 1 had ended.
With the same exiguity, day 2 had started, where participants divided into the four breakout rooms, and then, they discussed NPAs and their recovery in the Bank Association Panel because of defaults made by the companies on the previous day and had put forth their views on it. Thereafter assumption that, as banks are properly formed, they establish a fund house. This fund house does investment in the stock market to gain profit for their customers. Here participants played the role of a fund manager who takes decisions related to the fund house. As stock investment is a key driver for economic trade and prosperity, to impart this, the next three sessions were conducted where participants had played a normal trading round. In that, they had decided how many stocks they are going to buy of each company by analyzing fundamentals and considering the current market situation. Afterward, they had subscribed the IPO by going through RHP and at the last, an intraday trading round was there. In that participants learned about which stocks are trade-in and negotiated for squaring off their position. At the last of the event, all banks started earning profits and contributing towards the growth in the Indian Economy. Then feedbacks were taken from the participants and at the last, International Service Director Rtr. Jeevan Joshi imparts the overall glimpse of the event and announced the winner and awards for the best performer. The event concluded by Secretary Rtr. Manjiri Choudhri with the votes of thanks. Then President Rtr. Riya Pardeshi showed gratuity towards alumni Rtr. Uday Suryawanshi, Rtr. Sachinam Upadhyay, Rtr. Likhit Unadkat, Rtr. Shivani Kondewar, Rtr. Pravan Patil, Rtr. Akshay Shelke, Rtr. Sameer Bolshette, Rtr. Supriya Dhavalshankh, Rtr. Shraddha Unhale, Rtr. Mrunal Bhole, Rtr. Saurabh Kulkarni, Rtr. Akshay Satpaise, Rtr. Priydarshani Patil, Rtr. Aniket Baad, Rtr. Vatsala Singh, Rtr. Abhishek Patil, Rtr. Shubham Jagtap, Rtr. Susmit Raut, Rtr. Saurabh Firke, Rtr. Akshay Gaikwad, Rtr. Anurag Ganjiwale, Rtr. Vishal Narkhede, Rtr. Vaibhav Sabane, and Rtr. Aditya Pusadkar for their appearance in the event.