One day International Conference on “Business Opportunities and Challenges in Cashless Society”

Date:16-06-2017

Department of Management studies and Internal Quality Assurance Cell (IQAC) of T.John College conducted a one –day international conference on “Business Opportunities and Challenges in Cashless Society” on 16th June 2017. The objective of the conference was to highlight the benefits as well as challenges of digital transactions and deliberate on the present and future scenarios in moving towards a cashless society.  

Conference received a grand and auspicious opening with prayer to almighty sung by Mr.Babitto and Ms. Martina, MBA students. Dr.NilanjanaBasu, Executive Director, MBA Dept., welcomed all the guests and participants. Dr.Shikha Tiwari, Principal, TJC gave overview of the theme of the conference. Dr.Thomos P John, Chairman, T John group of institutions, gave motivational speech and pointed out how conferences help faculty and students to gain varied perspectives of the problem.  

Chief-Guest Dr.KalpanaGopalan, IAS, Additional Chief Secretary, Department of Personnel (Administrative Reforms & Training) sent her best wishes as she could not come due to official emergencies. Guest-honour Dr. R Vaidyanathan, Retired IIM-B Professor, spoke on the occasion and expressed his opinion that increased usage of digital technology will surely reduce corruption in the country.  However, he also mentioned that ‘digitalisation is for classes but not for masses’, indicatingthe fact that digitalisation is yet to reach lower sections of the society. 

Key note speaker Prof. Kannan, Higher Education Consultant, elaborated both short-term and long-term implications of recent demonetisation in the country. He stressed upon the mammoth role to be played by the Banking sector and Fintech companies in transforming into cashless society. He also pointed out India’s preparedness to go digital, digital infrastructure, and why the process of digitalisation is slower compared other countries like Kenya. At the same time he hinted on building more resilient society before embarking on cashless society. 

Panel discussion was very informative and interactivewhich presented multiple perspectives on challenges and opportunities of cashless society. Mr. Vidyasagar Bedida, VP Technology, Janalakshmi Financial Services spoke on leveraging mobile technology and Smartphones in reachingdigital payments to the nooks and corner of the society. Mr.Rathish R, DGM - Federal bank & Bangalore South Regional Head spoke on the status of financial inclusion and literacy in the recent years. Mr. Ganesh Vaidyanathan, Zonal Head – NYK Line India Pvt. Ltd., strongly opined that organised businesses are less vulnerable and least affected by cashless transactions. And being organised economy is the   key to faster adoption of digitalisation and reaping the benefits of the same.Also he reiterated the role of responsible citizens and cultural and behavioural changes required in taking the country towards digitalisation. Ms. Sarmishtha Paul, Proprietor - Span Retail Stores, Bangalore, shared some of the concerns and hitches in online transactions which actually are the hindrances for adopting online payment methods by small time retailers. Finally, Mr.PavanTripathi, Alumnus& Entrepreneur, Elegance Enterprises clarified how real estate industry is expected to streamline after demonetisation and enactment of Real Estate (Regulation and Development) Act, 2016. 

Conference –call for papers had received excellent response with 35 high quality insightful papers spanning across the various sub-themes of the conference. 30% of the papers received were from international authors coming from prestigious universities such as University of Gaudalajara, Mexico; University college Dublin, Ireland; Mindtree ltd., New Jersey; University of Toronto, Canada; Addis Ababa university, Ethiopia; University of Jaffna, SriLanka; University of Kathmandu, Nepal; Global business school, Singapore; and Docklands college and City Community college, London. 

The paper presentations were divided into 3 tracks. Track 1 on business and social implication sub themes and Track 2 on economic implications sub theme. Track 3 had Skype and Video presentations exclusively for international authors. All the papers presented were insightful, impactful and well-presented followed by interactive session. 

The best paper was awarded to the paper titled “Demonetization To Cashless Economy – Sustaining Growth Of Agriculture Sector In India”, the authors being Prof. Shivaprasad G, Associate Professor & Program Director –BIFAS, Acharya Bangalore B-School, Bangalore and Prof. Santhosh Kumar G, Associate Professor, Acharya Bangalore B-School. The authors were awarded a cash prize of Rs. 5000. 

Valedictory program in the evening, started with the summary of day’s proceedings presented by Dr. Shashikala, Conference Convener. This was followed by Best-paper award announcement and certificates distribution to all the participants.