The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with Matrusri Institute of Post Graduate Studies organized a Seminar on “Emerging Trends in Banking and Insurance” on 5th March 2012 at Surana Udyog Auditorium, Red Hills, Hyderabad. Mr. Radhakrishnan Nair, Member, IRDA was the chief guest for this occasion.
Mr. V S Raju, President, FAPCCI, Mr. B. Krishna Reddy, Head, DBM, Osmania University, Prof. M. Basavaraja, Principal-MIPGS, Mr. Srinivas Ayyadevara, Vice President, FAPCCI, Mr. Shiv Kumar Rungta, Chairman, Banking, Finance & Insurance Committee, Mr. Lakshmikanth Inani, Co-Chairman, Banking, Finance & Insurance Committee, Mr. M.V. Rajeshwara rao, Secretary General, FAPCCI are the key speakers at the occasion.
Mr. Radhakrishnan Nair said in his key note address is that the Banks
Mr. V.S Raju said that the need for Financial Literacy is felt in all the countries alike. In developed countries the increasing number and complexity of financial products, the continuing shift in responsibility by governments on providing social security and avenues to provide individual retirement plans makes it imperative to step up financial literacy. In addition, the substantial growth of international transaction during the last decade, resulting from new technologies and growing international mobility of individuals, makes the improvement of Financial Literacy, increasingly an international concern. From a regulatory perspective, this attempt empowers the common person, reduces the burden of protecting the common person from the elements of market failure attributable to information asymmetries. The emphasis of market discipline, as one of the three pillars of banking regulation, especially under Basel II, is best served by participation of Financially Literate Bank Customers in the financial markets. Financial Literacy makes a different in quality of life that an individual can afford, but also regulates integrity and quality of markets. Educated customers, can benefit the economy, encourage genuine competition, forcing service providers to innovate and improve their efficiency levels.