In Memoriam

IIM Bangalore Mourns the Loss of Former Director and Professor, Prakash G. Apte

It is with profound sadness that we announce the passing of our esteemed former colleague and Director, Prof. Prakash G. Apte, on the 10th of June 2023 in Mumbai. Prof. Apte, a revered figure in the academic community, played a pivotal role in shaping the Indian Institute of Management Bangalore (IIMB) and leaves behind a legacy that will be cherished forever.

During his tenure as Director from October 2002 to October 2007, Prof. Apte made significant contributions to IIMB’s growth and development. His visionary leadership and dedication to excellence helped steer the institute to new heights. Beyond his role as Director, Prof. Apte also served as a Professor in the Economics & Social Sciences area until his retirement in 2012.

Prof. Apte’s illustrious career spanned several decades, marked by notable achievements and impactful contributions to the field of economics. He joined IIMB in September 1977, following the completion of his Ph.D. in Economics from Columbia University. With a strong academic background from institutions like IIT Bombay and IIM Calcutta, Prof. Apte possessed a deep understanding of economic principles and their practical applications.

Throughout his career, Prof. Apte demonstrated a commitment to advancing knowledge in various domains, including Economics, Econometrics, Macro-economics, International Finance, Financial Derivatives, and Financial Risk Management. His expertise extended beyond the classroom, as he actively engaged in consulting assignments for prominent organizations such as Ernst & Young, Wipro, Commerzbank, Group M, HDFC, and the State Bank of India.

Prof. Apte’s intellectual contributions were widely recognized and celebrated. He authored four books and numerous articles published in professional journals and periodicals. One of his notable works, a textbook on International Finance, became a staple resource for business schools worldwide. Prof. Apte’s influence also extended to advisory roles, where he provided valuable insights as the Chairman of the SEBI Secondary Market Advisory Committee and a member of the Index Committee of the NSE and the DICGIL Advisory Committee. He served as a respected member of the Academic Council of the CFA program offered by ICFAI and the Trustee Board of UTI Mutual Fund.

The loss of Prof. Prakash G. Apte is deeply felt by the IIMB community and the academic fraternity at large. His passion for education, unwavering commitment to excellence, and profound intellect will continue to inspire generations to come. Our thoughts and heartfelt condolences go out to his family and loved ones during this difficult time. May his soul rest in eternal peace.