The Indian Institute of Management (IIM) Ranchi today celebrated its seventh Foundation Day at Dr. Ramdayal Munda Kala Bhawan Auditorium at Khelgaon in Ranchi.
The occasion was graced by Former Deputy Governor RBI Usha Thorat as Chief Guest, Director In-charge Professor Anindya Sen, Dignitaries from the Government of Jharkhand, all the faculty, staff members and the students of the institute.
The celebrations was started with the Saraswati Vandana and lighting of the lamp by the Chief Guest. Professor Sen also delivered a welcome speech which was followed by the presentation of Merit Certificate to the Rank Holders.
The Chief Guest, while addressing the audience through her speech, shared how the financial system especially the banking system in India after nationalization of banks in 1969, been used as an instrument of public policy to provide banking facilities and loans to the disadvantaged and the aam aadmi.
The strategies used to achieve this changed from directed and subsidized credit at concessional rates to using intermediaries (such as SHGs and MFIs) and technology to propel banks to increasing outreach without sacrificing their viability. She also encouraged and motivated students through her speech.
The event culminated with a vibrant cultural function featuring dance, drama and a band performance by the students. The celebration ended with the National Anthem.
IIM Ranchi was the 9th IIM to be established with the extensive support of the Indian Institute of Management Calcutta and the Government of Jharkhand, working under the guidance of Ministry of HRD, Government of India.
Since then the Institute has grown from strength to strength and is now counted among the best B- Schools in the eastern zone of India. Former Deputy Governor of Reserve Bank of India Usha Thorat was the Chief Guest for the function.