IIMB celebrates its 49th Foundation Day

Indian Institute of Management Bangalore celebrated its 49th Foundation Day on 28th October 2022. The Foundation Day Lecture was delivered by Ms. Madhabi Puri-Buch, Chairperson, Securities and Exchange Board of India (SEBI). Ms. Puri-Buch spoke on ‘Data and Technology in the Capital Market’.

Members of the Board of Governors, Director of IIMB Professor Rishikesha T Krishnan, deans, faculty, alumni, students and staff celebrated the institute’s Foundation Day and ushered in the Golden Jubilee year of IIMB.

The institute wore a festive look, and applause and cheers reverberated as sports competitions and cultural events were conducted to ring in the celebrations. Additionally, scholarships were announced by the alumni, and the Staff Recreation Committee (SRC) planned an afternoon of cultural programs.

The Foundation Day began with the Director’s address, followed by the Foundation Day Lecture by Ms. Puri-Buch, and the announcement of Long Service Awards for faculty and staff.

Foundation Day Lecture

SEBI is at the forefront of regulators globally in using data to enhance investor safety and confidence

“SEBI is at the forefront of regulators globally in using data to enhance investor safety and confidence,” said Ms. Madhabi Puri Buch, Chairperson of the Securities & Exchange Board of India (SEBI), while delivering the Foundation Day lecture on ‘Data and Technology in the Capital Market’, during IIMB’s 49th Foundation Day celebrations, this morning. The IIMB community of faculty, former faculty, alumni, students and staff were part of the event.

Observing that regulated organizations generate a lot of data, she said: “If the regulator collects the right data from the regulated entities, it is possible, even with simple algorithms and the adoption of appropriate technology, to identify and track market malpractices.”

Technology, she explained, has contributed immensely to protection of market security in terms of risk management for investors. “It also helps facilitate cost reduction, financial inclusion and ease of doing business.” 

Her engaging address was followed by an interactive session during which, in response to questions from the audience, she spoke about ‘finfluencers’, co-location, wrongdoings like insider trading, fraudulent transactions, front running, and information asymmetry in the context of the capital market.

Director’s Address

Professor Rishikesha T. Krishnan, Director, IIM Bangalore, lauded the immense efforts of all the stakeholders of the institute who continue to ensure that IIMB sustains its excellent academic standards. 

He shared that IIMB went through an external review recently as required by the IIM Act. “In their report, which is available on our website, the external reviewers have stated that IIMB has established itself as one of the leading institutes for management education, not only in India but also internationally, with academic programmes comprising content which is broad, current, and leading the frontiers of management education.”

He went on to highlight some of the top accomplishments of IIMB during the past year, including achievements of faculty, students and alumni. He spoke, at length, about the institute’s collaborations with government, business and society. “IIMB features in the top category (Level 5) in the Positive Impact Rating 2022, winning global recognition as a ‘Pioneering School’,” he said.

Mr MD Ranganath, Member of the Board of Governors, IIMB, spoke about his association with the institute and set the tone for the Golden Jubilee celebrations by wishing the IIMB community exciting years ahead. “The journey of IIMB makes for a fascinating case study,” he added.

Long Service Awards to staff and faculty of the institute were presented by Ms Kalpana Saroj, Member of the Board of Governors, IIMB and Mr Ranganath.