Dr. Richard Verma delivers Commencement Lecture at Jindal's School of Banking & Finance (JSBF)
Dr. Richard Verma delivers Commencement Lecture at Jindal's School of Banking & Finance (JSBF)

Dr. Richard Verma delivers Commencement Lecture at Jindal's School of Banking & Finance (JSBF)

ANI | Updated: Aug 05, 2021 13:38 IST

Sonipat (Haryana) [India], August 5 (ANI/OP Jindal University): The Jindal School of Banking & Finance (JSBF) kicked off the new academic year with the 2021 Commencement Lecture by Dr. Richard Verma who serves as the General Counsel & Global Head (Public Policy & Regulatory Affairs) at Mastercard Inc.
He is the former US Ambassador to India, a Senior Fellow at Harvard University, and has over 25 years of international experience in business, law, finance, academia, diplomacy, politics, and the military.
JSBF fosters a strong research culture and brings innovative pedagogy to the field of banking, finance, and entrepreneurship education along with a strong focus on social responsibility. JSBF faculty are thought leaders in diverse areas like finance, banking, law, public policy, anthropology, etc.
Through hands-on training, students are taught skills and knowledge of new products & services, particularly around different aspects of finance and entrepreneurship. These skills are highly sought after in the industry and prepare the students by building capabilities that are transferable across different professional roles.
The event started with the Founding Vice-Chancellor of O. P. Jindal Global University (JGU), Prof. (Dr.) C. Raj Kumar, welcoming the students of JGU's B.Com. (Hons.) and the B.A. (Hons.) Finance & Entrepreneurship programmes to India's No.1 private university according to the QS World University Rankings 2021. Prof. (Dr.) C. Raj Kumar said, "O.P. Jindal Global University is well-positioned with its multidisciplinary institutional framework to provide the kind of world-class education" students aspire to have. "The more coveted status of being an Institution of Eminence declared by the Government of India", he said, gives the University a greater degree of responsibility towards its students and fulfilling its institutional goals. "Students can benefit from the interdisciplinary nature of pedagogy, where students of JSBF can take courses from across the 12 Schools of JGU based on their interests. This will help improve decision making skills that are most relevant for building and nurturing enterprises in this new age and the faculty at JSBF will accelerate your understanding of finance and entrepreneurship that will lay the foundation to make a transformative impact on business and society".

The Dean of the Jindal School of Banking & Finance, Prof. (Dr.) Ashish Bharadwaj, welcomed the distinguished former US Ambassador to India who now represents Mastercard Inc, and the incoming students who represent more than 21 states of India and three countries. "We will have over 3000 students joining us from different parts of India and abroad who will be joining the JGU community", Prof. (Dr.) Ashish Bharadwaj said. Speaking about the pedagogy and research focus of JSBF, Prof. (Dr.) Bharadwaj said, "Our teaching pedagogy and research are underpinned by a strong commitment to push the boundaries of excellence at the interface of finance, technology and social sciences. JSBF students take advantage of the strong culture of inter-disciplinary research and learning, a hallmark of JGU"
Joining from Washington D.C., USA, Dr. Verma spoke about "Driving Shared Prosperity: A 21st Century Priority for U.S. - India Ties". Dr. Verma reflected on how the relationship between U.S. and India has evolved over the last 50 years into what he called the most significant relationship of this century. He recalled the challenges his parents overcame during their childhood and shaped a better life after migrating to the U.S. Dr. Verma attributed personal stories like this as a crucial component of the strong ties between the U.S. and India. He stressed the importance of building on this solid foundation established by the previous generations to take the relationship forward between the U.S., the number 1 economy today, and India, a country that will lead the world in almost every category by 2030. However, he also cautioned that the current developmental trends in both countries might be unsustainable. Several challenges are coming to the forefront - challenges like the widening gap between rich and poor and the increasing digital divide.
Dr. Verma said these challenges could be overcome by increasing cooperation and coordination between the two countries. He also exhorted the students to constantly be on the lookout for better solutions to solving problems and leverage the benefits offered by the Jindal School of Banking & Finance - the biggest of which was the interdisciplinary approach taken to education. This would help the students be proficient technically and visualise problems within their macroeconomic, political, and historical context, thus allowing the solutions to have a more meaningful and lasting impact.
Finally, Dr. Verma called upon the students to live up to one of the founding ideals of the O.P. Jindal Global University by developing solutions to the challenge of economic inclusion and to bring along the multitude of people who are excluded from most innovations happening.
He also highlighted the importance of the Micro, Small, and Medium Enterprises (MSMEs) since most economic activity will be generated in this sector. Solving the difficulties faced by the MSMEs will provide them with numerous opportunities to obtain access to the global markets, increase their share of online retail, and in their digital transformation.
Closing his address, Dr. Verma asked the students to introspect and identify their core values, which will allow them to make a significant impact on the lives, health, and well-being of people and society. As students of the prestigious O.P. Jindal Global University, the students will be provided with the tools to shape their future, the future of our countries and the future of US-India ties which are not pre-ordained.
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