A New Journey...A New Life! 

Priyamvada Jha

MFC Part I

There comes a point in life when you have to leave everything behind and start something new. I am going through this very situation at the moment. A new chapter in my life has begun: my post-graduation in finance at South Campus. The old book has closed and a new page is open before me. I embark on this journey with full vigour and enthusiasm, with determination in my heart to make my life glorious in the coming two years.

Having graduated from University Of Delhi (Miranda House) itself, I had thought I would feel at ease and adjusting to this new place would not be an issue for me, but my perception has changed as I stepped into South Campus. The first thing that struck me was the stark contrast between North and South Campus. In North Campus, because of the fact that all the colleges are located close to one another, you could always feel the vivacity of college life- a flock of students roaming around the campus, buzzing the campus with their exciting activities. However, this is not the case in South Campus of DU, one reason being that this is a campus for Post-Graduation courses, which is why you would see focussed and seeming to be studious people roaming around in here (Pun Intended). But this place has a charm of its own. Surrounded with lush green trees, this is one of the peaceful places you can find in Delhi. The campus looks even more alluring during the monsoons, when you can see peacocks dancing around and colourful birds chirping on the trees. I fell in love with this place on the day when it rained heavily, I felt like sitting for hours on a bench near the campus library, enjoying the calm and serene beauty of nature. Although I miss North Campus a lot, this beautiful South Campus has won my heart because of its tranquillity.

My decision to choose this course (MFC) was based on the fact that the field of finance fascinated me since the final year of my Graduation in economics. I chose this course as my Post-Graduation Major to get acquainted with the depths of finance. I am overjoyed to see that the Professors here are very interactive in the classes. They don’t just make us understand the concepts, but also relate those concepts with real life situations. Most of the institutions in India focus on giving theoretical knowledge to the students and not delve into the practicality of the theories/models which is a major flaw of our education system. The teaching methods of our Professors are in tandem with the current requirements of the corporate world. Along with the Professors’ erudite, I was surprised by the profile of my batch. As seen in the past, the engineers have outnumbered the students from Commerce/Humanities background. Although the course is very much related to Commerce, but still history has repeated itself. However, I am really happy to see how enthusiastic the engineers are to learn Finance and they have a fair idea as to what finance is all about. My seniors complete the MFC family, who are very supportive and amiable. From conducting fair processes for selecting members for the Committees to providing us with any information related to the course, they do it all. This MFC family has all the elements you want in a complete happy family. The best thing so far is that I have met so many new people with diverse backgrounds and meeting new people is always a blessing in itself.

“Today is a conjunction of my life. Today is where my whole life is pinned together off to one side. All the corners of my life are gathered together the way the hem of a fancy ball gown might be pinned with flowers. The past is gathered, pulled to one side, and now there is a whole new start to today, me, and my life.”

With this note, I start my new journey with a positive approach and passion in my heart. As said by one of my Professors, to become a successful Manager, one has to have a set of well-defined goals. My ultimate goal is to learn as much as I can from this course and accept every challenge I face and give my best shot. I hope I stand by my words. Amen!

-

Sanidhya Yadav

MFC Part I

It’s a dream-like state, isn’t it? The feeling of self-realization that takes time to get absorbed, initially it’s just excitement. After changing 3 means of transport I reached the campus, but believe me, once you step out of the auto rickshaw into the cool green surroundings of the campus, you realize that it was all worth it, all the fatigue vanishes. A walk inside your classroom, while the last song you heard is still ringing in your ears, you come into a group of similar chirpy faces, faces that you’d get used to for the next 2 years of your life.

The seniors, for one, were a surprise package. I didn’t expect them to be so friendly, understanding and helpful as they turned out to be. At least after the rigorous pre-joining assignment, no one would’ve expected that. On a very personal note, I would say that the bunch of batchmates that I’ve come across are very committed to their future, and the prestigious course demands nothing less.

From the informal interactions with seniors I have deduced that I can always find a new place to hang out in this side of Delhi. Another conclusion I have derived, as a former student of north campus, is that here the canteen food is the most homelike at the very nominal rates.

The classes are full of interactive learning experiences, and to be very frank, what this department provides at the price it does is phenomenal. The professors are acclaimed scholars in their subjects and have unmatchable accreditations and accolades. The classes are a great fun, especially with some of our professors who have a knack for making classes a full entertainment package combined with learning. One doesn't realize when the lively sessions are over and we’re often left wanting for more.

After a few sessions of interactions and a really cool ice breaking session, we got the gist of what we had bought into, a very rewarding course that trains you for a future in finance and management given that you’re ready for the hard work required. From the professors to the seniors to the support staff, the whole department seems like a very close knit group of dedicated people, who have an equal, if not more, appetite for fun and enjoyment. Never did I imagine that post-graduation in management would be as entertaining and absorbing as this.

HOD Prof C.P.Gupta Interviewed by Times Of India

The Master in Finance and Control programme offered by the Department of Financial Studies, University of Delhi, is popular with finance enthusiasts. CP GUPTA, dean, DFS, shares the essential components of the course in an interview with Garima Upadhyay Rawat.

What is the focus of the Master of finance and control programme?
The focus of the programme is primarily on finance and accounting. Hence, the whole curriculum is developed around that. Some courses, especially from economics and mathematics and statistics, are supporting courses. Quantitative finance is the forte of the programme.

How is the programme different from an MBA in finance course?
There are certain similarities like both are two-year regular programmes. Also, in both the programmes, students are exposed to papers on accounting and finance. However, there are sharp differences as well. MFC starts with all finance courses from the first semester and in the first year itself, students have to study seven courses exclusively related to accounting and finance while in MBA (finance) students study three to four courses related to accounting and finance. Our students are not studying courses related to HRM, OB, marketing and operations while in the first year of MBA (finance) they have to study all such courses. The first year of any MBA programme is the same for all specialisations. To specialise in finance in MBA, one has to study four-six finance related courses in the second year of the programme, while in our programme, all papers in the second year are only finance papers. MBA (finance) students may earn dual specialisation; in fact, it is observed that most students in MBA programmes go for dual specialisation.

What is the teaching pedagogy that is adopted at the department of financial studies?
The teaching methodology consists of lectures, case discussions, seminars, business games, role-plays, presentations, field visits, etc. Our students are trained specially in EXCEL, Eviews, and SPSS and financial modelling. The department maintains close contact with the industry by inviting professionals to hold seminars for students.

What kind of research is taking place in the department?
Most of our research students are working in areas of assets pricing and investment strategies. However, some research scholars are working in the areas of balanced score card, mutual funds,corporate governance, CSR, and investment decisions.
How does the programme equip one with the right professional skills?
The Master in finance and control programme aims at equipping students with the requisite knowledge, skills and capabilities in areas of financial planning, decision-making and control.
At the department, through course work and practical exposure, students are prepared to take on the challenges of an emerging and complex financial world. They are trained in necessary knowledge and skills for applying the same to handle issues of finances in the corporate world. The department of financial studies tries its best to produce students who are sincere and have integrity.
The department maintains close contact with the industry by inviting professionals to hold seminars for students.

Talk on Risk Management

Renowned banker Mr. Avinder Bindra, CEO, Arx Analytics visited the Department of Finance, Delhi University to hold a talk on Risk Management. With his vast experience over varied landscapes Mr. Bindra spoke of how banking has evolved over the years with the advent of derivatives and other financial instruments today. Speaking on The Asian Financial crises in 1997 Mr. Bindra talked of how a huge liquidity risk was prevalent and economies were ignorant of the magnanimity of the situation until the crisis hit them. There is a difference in approach in lending between the west and the east. While the American model is based  on cash flows the Asian model is asset based.

Mr. Bindra went on to talk about the typical problems with lending in Asian markets.  The Zaibatsu’s in Japan made huge defaults by rooting lending to their unproductive conglomerates through their only productive entity. Why didn’t the Lehmann Brothers with their resource and expertise anticipate their fall? How are banks expected to manage their risks so as to safeguard them from elements even outside their control such as interest rate? The answer lies in the details. These were some among a host of other questions discussed during the session.
While there was a time when banking was less complex but new recruits were made to train more the situation now is exactly the opposite. So what is wrong with banking today? As Mr. Bindra quoted Micheal Lewis from “The Big Short”

““In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000.”

MFC Victorious

The Football team all geared up

MFC were crowned champions at the recent Sports meet at South campus Delhi University. Beating the Department of History by 4 goals to 1 MFC won the final in a 4 day long football tournament. Manjeet Singh Negi came out with flying colors to score 2 goals in the final with Siva and Anmol netting one goal each.

The students were not only at a high in the football field but they managed to make it to the final of the Volleyball competition as well losing a close game while missing out in the semifinals in the cricket ground. Bearing witness to tense matches and close calls the students are getting a taste of what lies ahead.

Students are now set to assemble for the last month before Semester exams.

The Ratings Game by Mr. Rohit Chugh

Mr. Rohit Chugh, associate director at CRISIL recently held a talk in campus on Rating Agencies and their relevance.
Clearing a lot of myths about rating agencies, he outlined that the basic premise a rating agency works on should not be sidelined which is "the problem of default". "We basically try to present the ability and willingness of an entity to meet its debt obligations in a way that is easy to understand". Mr. Chugh contested the concept of a 'rating watch' pointing out that the idea signifies a lack of opinion and that is not what one expects from a rating agency.

The Standard and Poor's rating of India is at BBB- with a negative outlook which is a worrying sign for the economy as it faces the chance of a downgrade amidst several warnings.  This puts us in line with countries like Italy and Spain which are spiraled in the Euro crisis.

Mr. Chugh addressing students

Mr. Chugh spoke of his experiences at CRISIL and said one test he often faces is to evaluate the willingness of an enterprise to pay back its debt. As easy as it sounds a lot of factors go into analyzing this and it is a real challenge. So what would be the major indicators you base your opinion on, asked a student? "Well, its majorly about Cash and Debt, says Mr. Chugh, they can often tell you what the story is".

"It was an enlightening session, managing debt is one of the primary objects of a finance professional and mismanaging debt the spark that lights up a crisis" said Mridul Singh, a Part 1 student at MFC.

Panel Discussion on Analytics

The panelist during the discussion on business analytics chaired by Prof. Muneesh Kumar (centre)

The Department of Finance hosted a panel discussion on the emerging trend of Financial Analytics and Business Analytics. The speakers with their vast knowledge and experience in the industry briefed the students about the need of analytics in the business and financial world and how analytics has fuelled growth in varied sectors.

The speakers for the discussion included:
Mr. Atrideb Basu -Senior Director, Predictive Analytics Group, Cognilytics Inc.
Mrs. Sumana De Majumdar- Analysis Director, Dunnhumby
Mrs. Nidhi Pratapneni- Director, Dell Inc.
Mr. Abhishek Bansal- Associate Director, Customer Analytics, Absolutdata
Dr. Manish Gupta- Vice President- Analytics, Info Edge (India) Ltd
Mr. Krishna Agarwal- Director , Affine Analytics
Mr. Kapil Jawa- Vice President, Financial Services Analytics, Genpact

It follows the basic principle of narrowing down market and quantifying results to guide decision making. Analytics is not only being adopted by the major players with huge financial resources but smaller businesses have begun to understand its value and are increasingly adopting it. However the speakers pointed out the need for the right approach to avoid any mishaps as this can often be the case.

The students took great interest and poured in with questions about technicalities in programming, the nature of the analytics industry and its role in the path of a finance professional.

All in all, analytics has been in the limelight for all the right reasons and its journey ahead only seems to be getting better.

Hello There!!

Hello to one and all.
I informally welcome you to the formal group of Masters in Finance and Control, Delhi University.
A round up of the on and off campus news is on your way.

The students of the 27th batch of MFC have selected their new Afcon. The students are excited and ready to steer the ship carrying the legacy of a highly prized line of financial and business experts. The placement season is on and the batch of 2013 is all suited up and ready to take on the bull and signal their arrival in the industry.With signs of great optimism, recruiters are turning up and it seems to be a busy road ahead at the Department.

Besides this, we have a huge round of eminent professionals turning up to address the students in the
next few weeks. You better bookmark this URL for we’re going to cover some highly valuable sessions over the coming period. Almost a year into the course it has been an experience of the most potent combinations of brainstorming and recreation, of deadlines and business suits, of guest lectures and industry visits. As a new lot of aspirants gear up for their group discussions and personal interviews, the MFC family expects a promising and ambitious lot. With thousands of students yearning for the forty odd seats or so the fight has begun from the 4th of March, 2013.
Good wishes from here at MFC to all and sundry. We look forward to seeing and interacting with you.

As the Chinese put it:
“May you all live in interesting times”.