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Mumbai can emerge as financial hub of Asia: expert

Kozhikode: S. Chattopadhyay, General Manager, Bankers’ Training College, Reserve Bank of India (RBI), has said that Mumbai stands a fair chance to be the next financial hub of Asia as it competes strongly with Hong Kong, Singapore and Shanghai.

Dr. Chattopadhyay was speaking at “Arthanomics,” the annual finance seminar of the Indian Institute of Management, Kozhikode (IIM-K), held on the institute campus, near here, on Saturday and Sunday.

The theme of this year’s seminar was “India as the financial hub of Asia by 2015: dream or reality?”

Speaking about India’s prospects in the export of financial services, she elaborated on how human capital and geographical advantage could help India compete with China in the Asian scenario. Dr. Chattopadhyay urged the students to “Think global, go global and project the nation globally” to transform India into a global financial hub.

Vasumati Kumar, Executive Director, United India Insurance, delivered a talk on the evolution of the insurance sector in India. Having worked with the Life Insurance Corporation for 27 years, Ms. Vasumati spoke about the past history of the insurance sector and the role of the LIC in reaching out to the masses.

She explained the paradigm shift that occurred when private players entered the insurance sector.

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