In the fast paced and dynamic world of today, if something has not changed – it is Finance! Money still rules the World! The World is divided between haves and have-nots; i.e., those who have money and those who have not! After the recession of 2008, how we manage our Finances became quite important. The 2008 sub-prime crisis occurred due to the special financial instruments which few could understand! In the year 2015, with the crash in commodity prices, especially oil, countries like Saudi Arabia, Kuwait, Venezuela, etc. stared at declining oil revenues. In order to maintain their living standards, they started planning how to conserve their dwindling foreign exchange reserves and looking out for newer avenues for raising Finances! Again, in 2015, the World saw negative interest rates for the first time in Asia, starting from Japan! This unconventional monetary policy tool was used by Sweden’s Central Bank in July, 2009 for the first time. It means that for keeping money with the bank, don’t expect to receive any interest; in-fact, in reverse, one needs to pay bank for the same. And the borrowers receive interest for taking loans! All this calls for an understanding of Finance as an enabler, creator and conserver of money and fortune! The top class Finance Faculty at Institute of Management, JK Lakshmipat University, the best MBA University in Jaipur make the same understanding – a child’s play!
According to Investopedia, “Finance is the science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance consists of financial systems, which include the public finance, corporate finance and personal finance, and the study of finance and financial instruments, which can relate to countless assets and liabilities.” In older times, barter system was used which took care of the payments – but, it had limitations. In modern times, currency in form of notes and coins took the place of barter system. Of late, the use of digital cash is on rise. Similarly, the simple notions of money, banking, investments, assets and liabilities have undergone a dramatic change in the last decade or so.
At JK Lakshmipat University, amongst the best universities in Jaipur, the final year students of the Institute of Management, a top B-School in Rajasthan, take up Elective subjects in the area of Finance as a part of dual specialization in MBA. International Finance, Security Analysis and Investment Management, Portfolio Management, Management of Financial Institutions, Financial Services, Banking, Insurance, Taxation, Financial Reporting, Financial Derivatives, Risk Management, etc. are some of the electives on offer at the Institute of Management which can be described as the best institute for management studies in Jaipur and North India. An MBA Degree from this prestigious and top-notch Institute with maximum placements is surely a value for money preposition!
About the Author:
Dr. Kapil Arora
Associate Professor (Finance) ,IM, JKLU
Ph.D , MBA, PGDCA, B.E. FDPM – IIM Ahmedabad
Dr. Kapil Arora is an alumnus of NIT-Surat & IIM – Ahmedabad with over 18 years in education field. He has attended over 80 Seminars/Workshops/Conferences and has published and presented nearly 150 cases, research papers, chapters in books and abstracts in National International Conferences, Books and Research Journals. In 2014, he presented research papers at AUE – Dubai and NTU – Singapore. He has edited a Book “Information and Communication Technologies: Enhancing Business Competencies through Innovative Practices” published by Excel India Publishers. He has extended his training and consultancy services to L&T, Micro-Inks, UPL, JK Tyre and JK Lakshmi Cement and been a Resource Person for EDPs/FDPs/MDPs. He has contributed towards the development of the curriculum at various Universities and has been associated with PIJMR, IJTD, TMH and VVJ-XIMJ as reviewer and board member. His current research interest is in Behavioral Finance, Financial Engineering and Foreign Exchange Risk Management