Jammu | 28 February 2026
The Indian Institute of Management (IIM) Jammu inaugurated the 3rd International Finance and Accounting Conference (IFAC 2026) on the theme “Financial Strategies for Inclusive and Sustainable Economic Growth to achieve Viksit Bharat@2047.” The two-day conference brought together policymakers, financial experts, academicians, industry leaders, and students to deliberate on India’s roadmap towards becoming a developed nation by 2047.
The conference was inaugurated by RBI Deputy Governor Swaminathan J, who delivered the keynote address. The inaugural ceremony was presided over by Professor Jabir Ali, Dean of Faculty and Research, and Professor Nitin Upadhyay, Dean of Academics, IIM Jammu. Professor Pranab Ranjan Das, Conference Chair, and Dr. Ashish Kumar, Joint Conference Chair, were also present.
Financial System Must Rest on Safety, Fairness, and Reliability
In his keynote address, Swaminathan J framed his remarks as a conversation with future leaders. Addressing MBA students and distinguished delegates, he emphasized that the financial system India builds toward Viksit Bharat@2047 must rest on three core pillars — safety, fairness, and reliability.
He stressed that development extends beyond GDP growth and must translate into improved quality of life. Finance, at its core, is a people-centric enterprise built on trust, clarity, and integrity. Without these foundations, sustainable economic progress cannot be achieved.
Encouraging principled leadership, the RBI Deputy Governor outlined key lessons for sound decision-making:
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Respecting customers
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Understanding financial sustainability
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Encouraging constructive challenge
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Discussing risks transparently
He highlighted that in an era of rapid technological advancement, both opportunities and vulnerabilities scale quickly. Responsible system design, ethical innovation, and fair customer outcomes are essential to ensure inclusive and sustainable growth.
He concluded by stating that achieving Viksit Bharat@2047 requires “principled performance” and that platforms like IFAC 2026 help bridge academic insights with real-world financial transformation.
Higher Education’s Role in Viksit Bharat 2047
Professor Jabir Ali emphasized that education must go beyond classroom instruction and promote deeper engagement with public policy and its societal impact. He underlined the vital role of higher education institutions in shaping responsible leaders capable of driving inclusive and sustainable economic growth.
Reaffirming IIM Jammu’s commitment to national development, he noted that the institute contributes through research-driven insights, academia–industry–government collaboration, and ethical leadership rooted in innovation and sustainability.
Professor Nitin Upadhyay acknowledged the RBI’s guiding role in shaping India’s financial architecture and appreciated the relevance of the conference theme. He expressed confidence that IFAC 2026 deliberations would generate meaningful insights for policymakers and practitioners working toward the Viksit Bharat 2047 vision.
Interactive Session on Monetary Policy and Growth
During an engaging Q&A session, Swaminathan J addressed student queries on:
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Monetary policy transmission
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Global spillovers
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Financial sector vulnerabilities
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Balancing growth and inflation
He encouraged young scholars to contribute actively to India’s financial policy ecosystem and adopt evidence-based approaches to economic decision-making.
Expert Panel on India’s Financial Transformation
The inaugural ceremony was attended by leading financial experts including:
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Dr. Saugata Bhattacharya, Member, MPC
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Madan Sabnavis, Chief Economist, Bank of Baroda
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CMA Dr. S. K. Gupta, MD, ICMAI Registered Valuers Organization
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Prasanna Balachander, Executive Director, ICICI Securities
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Dr. Narendra Ahlawat, MD & CEO, MCX Clearing Corporation Ltd.
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Akshay Panth, CIO, SBI Ventures
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Tamal Bandyopadhyay, Consulting Editor, The Business Standard
The discussion highlighted structural shifts in global savings and liquidity amid quantitative tightening. Panelists stressed that India must compete effectively for global capital while strengthening domestic financial markets.
Experts also noted slowing deposit growth and increasing retail investor participation in capital markets. They emphasized the need to strengthen domestic savings alongside sustained credit expansion.
The collective message was clear: India’s journey toward inclusive and sustainable growth demands adaptive institutions, diversified capital markets, stronger domestic savings, and principled financial leadership aligned with long-term national goals.
Strengthening the Road to Viksit Bharat@2047
IFAC 2026 continued with concurrent technical sessions featuring research presentations by scholars and practitioners. The conference reinforced IIM Jammu’s commitment to academic excellence, policy engagement, and nation-building.
As India advances toward 2047, the centenary of independence, the emphasis on principled performance, financial stability, and inclusive growth remains central to achieving the vision of Viksit Bharat.
