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Tax planning is an activity that requires detailed analysis and careful selection of instruments. This is an annual activity but still neglected by large number of individuals. This negligence leads to inappropriate and hasty selection of instrument for tax planning and people make haphazard decision related to tax planning investments.

To take a better perspective of the options available for investment and how one can optimize the benefits, Dr. Prashant Dev Yadav, Faculty of Finance at SCMS-NOIDA, invited Mr. Balwant Jain, a tax expert, finance consultant, and regular panellist on various channels like CNBC Awaz, Zee business etc. to address the issue and enlighten the budding investors with insights. 

The event started with Sumit Chawla, Deputy Head Finance Club, welcoming the Guest Speaker and all the listeners and inviting the backbone of the event, Dr. Prashant to say few words, followed by our esteemed Director Dr. K.P. Venugopala Rao, who addressed the students regarding the importance of Personal Finance in everyone’s life. 

Then our guest speaker, Mr. Balwant Jain was invited to takeover the event. He started with explaining about various important aspects of Taxation in India and how we as individuals can plan our investments accordingly so that we can save as much tax as possible. He explained about various sections under Income Tax Act, 1961, under which we can claim various deductions, including section 80 CCC, 80CCD, 80C, 80D, 80DD. He explained thoroughly how we can plan the investments in various instruments like PPF, NPS, insurance products and how the Interests on loans such as home loans be used to claim deductions from income tax.

He also told how there are numerous investments instruments available, but the maximum deduction is up to a threshold limit of Rs. 1.5 Lakhs only. Following his presentation, there were various doubts and questions in the listeners which the speaker cleared through his apt explanations. This webinar had a great outcome for the students. They got a clear idea about importance of tax planning for investors, various instruments, and their benefits, 80 (C) and the opportunities available with this and visualize the benefit of tax planning for individuals to maximize the benefits. The session ended with Sumit Chawla giving vote of thanks to the speaker for sparing his time to enlighten our students.

The photographs of the event are:

Finance Webinar SCMS NOIDA
Finance Webinar - SCMS NOIDA
SCMS NOIDA Finance Webinar

The Finance Club of SCMS NOIDA organized a webinar on the subject of Corporate Governance, titled “Corporate Governance – the Indian Scenario” by Mr Amitava Banerjee, a Corporate Governance professional, on 5th of December 2020 at 10:40 AM which was attended by the students of 3rd year.

Mr Amitava Banerjee, the guest speaker for the event, is a Corporate Governance consultant with years of experience in this field. Mr Banerjee has a tremendous amount of knowledge in this subject. He holds post-graduation qualification and has research as well as literary acumen in this field. 

Mr Banerjee began his discussion by explaining how corporates and business entities function. He described how business houses, organizations, individuals etc. works to fulfil self-interest, and with a motive to earn a profit. The speaker asked the students what they understand by the term Corporate Governance to which students very enthusiastically replied and gave their idea of what they understand by the term. Mr Banerjee then gave the students his definition of Corporate Governance which was “processes and procedures that direct the governance of a corporate entity” and explained how he understands Corporate Governance to be. He then took the students through the requirements to become the board of director of a company. The speaker also mentioned about Ethical Reporting Framework, Clause 49, LODR (Listing Operations and Disclosure Requirements) , Regulations 2015 while discussing the topic of the board of directors. Further, the discussion about different committees on Corporate Governance, Uday Kotak committee, Narayan Murthy committee was also held. He also explained the structure of Corporate Governance of different countries, such as the USA, UK etc and how the Indian model is a combination of both UK and US model. The discussion also threw light on the whistle-blowers and how they play an important role in keeping the authority honest, efficient and accountable by reporting alleged corruption or wrongdoing incorporates. He also explained how Indian laws lack in extending proper protection to whistle-blowers and how we can learn from the west in this particular area.

The event concluded with a very brief Question and Answer round with the guest speaker in which students clarified some of their doubts.

The photographs of the events are:

SCMS NOIDA - Finance Webinar
Symbiosis NOIDA Finance Webinar
Symbiosis NOIDA - Finance Webinar

The Finance Club of SCMS NOIDA organized a webinar titled “Corporate Governance - The composition of the Board of Directors" by Dr Arunima Haldar, Assistant Professor, SP Jain Institute of Management and Research, Mumbai, India on 3rd of November, 2020, from 10:40 am onwards.

Dr Arunima began the discussion on Corporate Governance by familiarizing audience with the definition of corporate governance and how strong and effective corporate governance can help cultivate a culture of integrity in a company, leading to better performance and sustainability in business overall. Dr Haldar accentuated on the importance of solid corporate governance and explained why it’s imperative for companies to strengthen their corporate governance in order to signal growth and progress to the market which it operates in. She explained how companies with strong corporate governance have a competitive edge in the market. Further, the discussion was also extended to the topics like Corporate Governance around the globe, Human Capital Index Composition, and Social Capital Index Composition. She explained in great detail the powers the board of directors hold in a company. Dr Haldar also explained the mechanism of corporate governance and how things are done in Indian Firms, as far as Corporate Governance is concerned. The speaker also discussed about the role independent females play in modern firms and the need for diversity in human social capital among the board of directors. Dr Prashant Dev Yadav, faculty, at SCMS NOIDA, put forth some of his opinions related to the subject as well following which students were invited to ask questions they might have had and voice their thoughts and opinions on the subject with the guest. 

After summarising the information, she intended to provide and discussing facts, realistic ideas and insights with the students about Corporate financing, the session came to an end. 

Overall, the event was a great success for The Finance Club of SCMS-NOIDA and the students participated with enthusiasm and were enlighten with the knowledge and experience the guest shared with them. 

Director at SCMS NOIDA, Dr. K.P. Venugopala Rao conducted a Webinar on “Road Ahead for Education in Finance” on 9th June at 11.00 AM for the benefits of students. The purpose of the webinar was to make students aware about the scope and prospects of finance specialization offered by the top business schools. Dr. Rao emphasized that all fields of specializations including finance, marketing, human resource, international business, business analytics are important pillars to run any business organization. 

Referring to education in finance, he said that Financial management in the corporate world majorly deals with treasury and control functions. Decisions like financing, investment and risk management are driven by treasury functions whereas financial accounting, cost accounting and tax management are covered under control functions. All major decisions under finance functions are based on the concept of time value of money.  Differentiating the role of chartered accountants with a management graduate, he is of the opinion that the experts like CAs mainly contribute in the compliance or control functions whereas the management graduates are involved in treasury and analysis functions.

When it comes to choice of specialization, a student should have an aptitude towards quantitative methods, logical reasoning, a lot of patience and interest in money management. The student is expected to have inclination towards numbers and should be able to apply basic arithmetic to the principles of finance.

Regarding prospects, the infusion of massive amounts of capital by the Foreign Institutional Investors recently and development of India as an emerging economy, the country offers immense prospects to finance experts who are going to act as a catalyst in determining the bottom line of the corporations. There are enormous opportunities for the finance graduates in all sectors of an economy but not limited to the area of banking, financial markets and insurance. Some of the roles offered to a finance graduate are equity analyst, relationship manager, management trainee, hedge fund manager, fundamental analyst, technical analyst and wealth manager. According to Dr. Rao, the field offers tremendous growth potential along with good packages to the students with high competencies in financial discipline.