Finatics is the annual financial conclave of the Industrial & Management Engineering Department at Indian Institute of Technology, Kanpur. Into its third year, this conclave aims at bringing about industry experts, eminent professors and students together to discuss Finance � the science of managing funds.
The event was held over a period of 2 days, and comprised of guest lectures, simulation workshops, and a host of competitions.
Finatics 2010 was organized on the 10th and 11th of April�10. Based on the theme, �Dealing with change � in the aftermath of the global financial turmoil�
We tried to look at organizations which survived the financial crisis, and the processes that were followed to retain profitability and competence.
Dr. B. V. Phani, Faculty coordinator of the event welcoming the guests
The event kicked off on 10th morning with an opening speech by Dr. B. V. Phani. The faculty coordinator for the event, Dr. Phani welcomed the speakers, and exhorted the students to make intelligent use of the wisdom that was going to be shared over the weekend.
The first session was conducted by Mr. Aditya Kaul Dullo, who is an alumnus of the IIT Kanpur MBA programme (2004 batch). Aditya handles sales & marketing for a leading multinational bank's credit cards division. He talked at length about the credit card industry, its workings, and how it obtains its profits.
The session then focussed on the effect of the recession on the credit cards industry, which is based on wafer thin margins. With dwindling profits, it was time for the industry to pull up its socks, and take some drastic measures to regain profitability.
The lecture invited a barrage of questions, from students and faculty alike, due to the very lucid and engaging discourse by the speaker. It was heartening to see a former alumnus inviting queries from students & faculty members alike, some of whom had tutored him half a decade before.