Objective
The objective of the seminar was to demystify the aura surrounding the term
"Derivatives" as also to highlight key aspects of Risk Management related to the Derivatives Market. Clearly, the broader objective here was to facilitate decision making at a senior level and in that context, promote a free and healthy discussion on basic issues.
The Welcome Address was delivered by Shri Subhash Malhotra, General Manager, Syndicate Bank.
The Seminar started with Opening Remarks by Shri H.N. Sinor, Chief Executive, Indian Banks' Association.
Shri G Padmanabhan,Chief General Manager, Reserve Bank of India inaugurated the seminar and delivered a Key Note Address.
Shri G Padmanabhan,Chief General Manager, Reserve Bank of India giving the keynote address. Also seen in the picture are : Shri Sinor, CE, IBA and Shri M S Annigeri, Chief Executive Officer, FIMMDA
Shri Vijayan Subramani, Country Treasurer, Citibank took the first session on
Basics of Derivatives
Shri Neeraj Gambhir, Deputy General Manager & Head, Trading Group, Treasury Dept., ICICI Bank Ltd. addressed the participants on Exchange Traded Products and OTC Products
Shri Ajay Mahajan, Country Treasurer, Bank of America elaborated upon Fixed Income Derivatives
Shri Rakesh Joshi, Assistant General Manager, Treasury Dept. State Bank of India explained the Setting up the Derivatives Desk in State Bank of India
Shri Srinivasan Varadarajan, Director, J. P. Morgan Securities (I) P. Ltd presented indepth account on Risk Management using Derivatives.
Shri Nageswara Rao, Managing Director, IDBI Capital Market Services Ltd. explained the risks involved in derivative transactions
Shri Ravi Savur, Vice President, Treasury Unit, Citibank made a Presentation on Credit Risk in Derivatives
Shri Jasbir Singh, General Manager, Internal Debt Management Department, Reserve Bank of India summed up of day's proceedings.
Shri M S Annigeri, Chief Executive Officer, Fixed Income Money Market and Derivatives Association of India proposed a Vote of Thanks
The Program was attended by Senior Executives of the rank of DGMs/ GMs, who are involved in the decision making process with regards to Risk Management Operations including use of derivative products or treasury operations, but might not have been directly exposed to treasury operations. Executives working in Treasury departments nominated at this seminar also found the interactions in the program useful.
IBA has constituted
a negotiating team headed by Shri Harbhajan
Singh, Deputy Chairman of IBA and Chairman & Managing Director, Allahabad Bank.
The process of negotiations of the Seventh
Bipartite Settlement which was initiated
in May 1998, culminated as a Memorandum
of Understanding on 11th March, 1999 at
Mumbai. In the MOU, IBA has agreed to an
overall wage increase of 12.25% including
the cost of superannuation benefits, of
the wage bill for the financial year 1996-97
for both workmen and officers of all participating
banks. While the settlement would be effective
from 1.11.1997, the benefits will be phased
over a period. Negotiations for working
out the details are in progress, in case
of award staff. In case of officers, a joint
note was signed on 14.12.1999.
