#S Ravi BSE Chairman

[businessnewsupdates]

A CFO Is Tested When The Company Is Going Through Trying Times - S Ravi BSE

The 4th edition of the BW CFO Awards 2020 started with the keynote address by Mr. S Ravi - Founder & Managing Partner, Ravi Rajan & Co.LLP / Chairman & Director, UTI Trustee Company Pvt. Ltd. & Former Chairman, BSE Limited

The Chief Financial Officer (CFO) is a key stakeholder in steering the growth of India Inc. and has indeed taken “center stage” within the organization’s strategic decision-making & execution. The CFO’s role has transitioned from the traditional functions of controlling the finance & accounts of the organization, to being core to the execution of corporate strategy – both organic & inorganic. The CFO over the years has increasingly become the chief flag bearer of Corporate Transparency, Governance, and Financial Leadership.

The 4th edition of the BW CFO Awards 2020 started with the keynote address by Mr. S Ravi - Founder & Managing Partner, Ravi Rajan & Co.LLP / Chairman & Director, UTI Trustee Company Pvt. Ltd. & Former Chairman, BSE Limited

“The whole compliance gamut has changed from 2007 to 2020, the amount of accounting standards, regulatory aspects a lot has changed,” said Mr. S Ravi the CFO’s role is absolutely difficult and important because of the number of rules and regulations that have come in – RERA, GST, compliances, and standards, etc. “There is always an oversight in CFOs work because CFO is the person who certifies the balance sheet,” said Mr. Ravi  

Mr. S Ravi former BSE chairman stressed on there big a huge change in the compliance setup with new acts, regulations and notifications “it’s the CFO who will be responsible to be on top of the whole compliance ecosystem” While the banks today are reluctant to lend today “The CFO is under a lot of pressure” added Mr. Ravi.

Speaking about the rapid changes happening in the technology front Mr. Ravi said “from an ordinary signature to digital signature, checkbooks to RTGS, to the online filing of all returns makes the job of the CFO very important” While everyone thinks a CFO handles the accounts and the finance of a company “A good CFO is the one who also contributes to the other aspects of the group/company” added Mr. Ravi

Talking about the challenges, Mr. S Ravi BSE Former Chairman said “If you look at Satyam, ILFS and other instances, apart from the promoter the most liable person has been the CFO and hence the CFOs risk is the highest in the company” The CFO is expected to on top of the game when it comes to governance and compliance and there are multiple regulators. “A CFO is tested when the company is going through trying times” added Mr. Ravi

Coming to the COVID pandemic Mr. Ravi said “The pandemic has been a difficult situation, the CFOs are dealing with auditors remotely and they have done a commendable job” integrating technology with compliance has been the key during this pandemic but at the same time Cyber Frauds are taking place as well “Ransomeware, malware types of cyber frauds are happening across and therefore data protection is imperative, this is going to the next big challenge for the CFOs”

[news-venue]

Bank Merger - Sethurathnam Ravi (S Ravi) Former BSE Chairman enunciate about it

When recently 27 public sector banks merged including the Punjab National Bank, nearly every individual was worried about his savings and even fixed deposits with the public sector banks. As per the announcement made by S Ravi BSE Ex-Chairman, the amalgamation scheme listed the merger of various popular banks like Indian Bank merged with Allahabad Bank, Canara Bank merged with Syndicate Bank, Oriental Bank of Commerce and the United Bank of India merged with Punjab National Bank, and lastly, Andhra Bank and Corporation Bank merged with Union Bank. The announcement of the merger came with a huge impact on the 308732 employees of the banks, 37492 domestic branches, 45448 ATM centers, and Rs. 3179304 crore deposits.

However, the impact of the merger is not only limited to all these. It is much more than the figures and facts that are mentioned in the papers. As per the BSE Chairman, these mergers come with a huge impact on the fixed deposit holders, savings account holders, employees, shareholders, borrowers, and the public. The primary aim of these mergers was to create large banks that are more capable of solving financial issues. Also, the merger was introduced to eradicate any kind of disparity between the small banks and large banks, cost savings from compliances and network overlaps, creating large middle management for selecting eligible candidates for the post of CGM, GMs, and DGMs for HR Department, IT department, and Risk management and much more. Overall, the mergers would improve the efficiency of restructuring and decision-making on high-leading banks.

Today, through this piece of information let’s talk about the impact of bank mergers as discussed by Sethurathnam Ravi with some quick points, making it easy to understand.

·         Any kind of consolidation or merger makes dread among the partners, investors, and the representatives associated with the banks. The serious short-term issues can be taken out with the possibilities of long-term advantages given the consolidation process is consistently executed, with firm yet fine adjusting of partner interests. Also, Unions of the bank employees from different affiliations should be ensured that their skills are united for the development of the new element.

·         The advantages of the mergers are just accomplished in the medium term to long term as the more grounded banks require critical time, endeavors, and assets to turn around the more fragile monetary records, execute the guide for adjusting HR and foundation like bank branches, bank products, ATMs, and so forth just as the reconciliation of Information Technology which is one of the greatest tests.

·         Integration is something that seems to be too difficult when such mergers take place. As per the BSE Chairman, coordinating two organizations on various IT stages into a typical one is harder than setting up another bank as each bank has fostered an interesting framework by drawing in with various sellers, henceforth, making a substance that can flawlessly cover all parts of the financial business will consume most of the day.

·         Another essential thought is to evaluate the lack or abundance of land and expand on an all-encompassing premise so they can be ideally utilized or arranged so inefficient resources are uncashed. Lastly, the banks with various principles and progressions to be welcomed in the total agreement are not meant for accomplishment.

So, when everything is considered like the assets and liabilities, culture, technology, etc., what do you think are the chances of success of any merger? To this, Sethurathnam Ravi answers that the success of any merger relies on the capability of managing the repercussion while supporting the changes. When the merger is used in the form of an unconnected initiative due to a lack of reinforcements that would weaken the primary aim of the merger that results in inefficiency.

As per the S Ravi BSE Chairman, the collaboration of the strong bank changes should be completely determined to imbue restored good faith among Public Sector Banks which will rely upon the initiative directing the cycle thinking about the mammoth difficulties of taking care of asset incorporation, data innovation stage reconciliation, administrative compliances, dealing with the requests of the Union, boosting the workers, client maintenance, creating specialty items, rebranding, and repositioning and the progression intending to proceed with the endeavors in the present financial slowdown, challenges in the credit development, and control on Non-performing Assets with the public authority giving the necessary catalyst every once in a while.

Henceforth, it can be concluded that merging the banks is not a small task. It needs massive movement and understanding to make sure that everything is working seamlessly.

[globalaffairs]

Former BSE Chairman S Ravi Views on the Pandemic Impact on the Market

S Ravi who is an ex-BSE chairman affirmatively asserts that the impact that the pandemic has caused on the financial market is certainly unavoidable. The very impacts of the pandemic can be easily visualized by the fact that the banks are generalizing the witnessing request for restructuring which is quite common in the SME/MME sector.

He believes that the sectors that are severely affected by the pandemic are namely aviation, hospitality, manufacturing companies, malls, and such. According to him, the companies that were able to withstand the pandemic are the Fintech companies.

Impact on economy

When it comes to the pandemic impact on the economy, there has been a visible drop in the GDP value of the economy given that the sectors that were adversely affected by the pandemic were however related to the economic value. Specifically, manufacturing has greatly suffered around 30 percent fall by the arrival and somewhat departure of the second wave. Some of the impacts included the loss of several jobs and major salary cuts.

However, stock markets were minimally affected by the pandemic whereas the retail investors almost flocked the overall stock market showing not-so precedent interest. S Ravi has also expressed his views on

Views on the changes caused by the pandemic

The pandemic has led companies and businesses to incorporate work from home in their daily life. In terms of companies, there are a vast number of such companies that have effectively compromised on their establishment costs were the office space was greatly compromised besides the introduction of the secure data protocols. Furthermore, the ex BSE chairman also said that it was approached in a mixed manner where the core objective was to continue the operations of the companies and the businesses and was initiated with strict consideration of the COVID protocols.

Another point of views

The former BSE Chairman s ravi has also expressed his views on the introduction of crypto to the world where he stated that the cryptocurrency has opened the positive gates of the future but given that there has been an active absence of regulations, it is somewhat labeled as risky. Furthermore, he added that if the present condition of the situation is taken into consideration, then it will be considered non-conductive to the crypto trading world because of the minimal investor awareness and regulations.

Adding to that, S Ravi also established his point by keeping forward the point that when it comes to the crypto market, regulations play a vital role so that the mini-investors are offered maximum protection and there is no conduction of misspelling. He further went on to contradict that framing the regulations regularly is not what the current world can afford to do at the moment.

Thus, the former BSE chairman, S Ravi, has strongly kept his views on both the issues related to the pandemic and the new world of crypto and the potential future that it holds for the upcoming generation

[brazilnews]

Ebixcash Appoints Eminent Accounting, Regulatory & Banking Sector Leader S Ravi To Its Board Of Directors

His rich experience includes having served as the Chairman of Bombay Stock Exchange - BSE Ltd and as the Chairman of UTI Trustee Company Pvt Ltd, one of India’s largest mutual funds.

EbixCash Private Limited, a subsidiary of Ebix Inc, a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced the appointment of Mr. S Ravi, as a new independent director to the EbixCash Board. Ravi brings a vast repertoire of experience across banks, financial institutions, insurance companies, tourism industry, stock exchanges and asset management areas - having held Board positions in eminent organizations across these sectors.

S Ravi Former BSE Chairman is presently serving as the Chairman and Director of Tourism Finance Corporation of India Ltd. – the premier government owned financial Institution, set-up to promote tourism in India. He also presently serves on the boards of Aditya Birla Health Insurance Company Ltd., Star Union Dai-ichi Life Insurance Company Ltd., Aditya Birla ARC Ltd., IIFL Asset Management Ltd. and SBI Payment Services Pvt. Ltd.

His rich experience includes having served as the Chairman of Bombay Stock Exchange - BSE Ltd and as the Chairman of UTI Trustee Company Pvt Ltd, one of India’s largest mutual funds. He has served on the boards of over 40 leading institutions in India, including insurance companies, a number of public sector banks and public sector enterprises such as UCO Bank, Union Bank, Hindustan Aeronautics Ltd., BHEL and SBI - SG Global Securities Services Pvt Ltd. He was also appointed by Government of India and Reserve Bank of India (RBI) as Chairman of the Technical Experts Committee for Punjab & Sind Bank’s strategic turnaround.

S Ravi was nominated as member of the Takeover panel of the Security & Exchange Board of India (SEBI), besides serving on its Mutual Fund Advisory Committee. Ravi has also served on India’s Insurance Regulatory Development Authority (IRDA) as a member of its Insurance Advisory Committee. He is a member of BusinessWorld’s Jury for Festival of FinTech 2021 and served as a jury member on the  Institute of Chartered Accountants of India team, that selected the Award for Excellence in Financial Reporting for the year 2012-13.

S Ravi said, “EbixCash has built a global presence today with clients in 44 countries and a leading presence in India in multiple financial technology segments. EbixCash has also become a bellwether in the remittance, foreign exchange and money transaction space. I am extremely glad to join the board of Ebixcash and to be a part of their journey in India.”

“Ravi has a deep understanding of the sectors in which EbixCash operates, built from his tenures at multiple banks, financial institutions, regulated financial intermidiaries and insurance companies, his broad regulatory experience at IRDA, SEBI and RBI and his experience as a chartered accountant.” Robin Raina, Chairman, President & CEO Ebix Inc, said. “As the Chairman of Tourism Finance Corporation of India, he also has a thorough understanding of the travel industry. All of these attributes are extremely valuable to his role on the EbixCash Board as we chart our next cycle of growth and progress towards the prospective IPO.”

S Ravi is the Founder and Managing Partner of Ravi Rajan & Co. LLP, a chartered accountancy firm specialising in Forensic Audits, Audits & Assurance,  Insolvency Assignments and Turn around Strategies, Valuations and Regulatory Compliance Advisory.

Recent EbixCash Announcements -

Last week, the Company announced the appointment of Former Chief Economist/ Former Director of the Division of Economic and Risk Analysis at the US Securities and Exchange Commission; and MIT Sloan School of Management Economist and Professor SP Kothari to the EbixCash Board.

A fortnight back, the Company announced the appointment of Grant Thornton India’s audit affiliate, along with KG Somani & Co as the joint statutory auditors for EbixCash. KGS is one of India’s highly respected national audit firms while Grant Thornton is one of the six largest audit fIrms internationally.

[brazilnews]

S Ravi ex-BSE chairman views on the pandemic impact on the market

S Ravi who is an ex-BSE chairman affirmatively asserts that the impact that the pandemic has caused on the financial market is certainly unavoidable. The very impacts of the pandemic can be easily visualized by the fact that the banks are generalizing the witnessing request for restructuring which is quite common in the SME/MME sector.

He believes that the sectors that are severely affected by the pandemic are namely aviation, hospitality, manufacturing companies, malls, and such. According to him, the companies that were able to withstand the pandemic are the Fintech companies.

Impact on economy

When it comes to the pandemic impact on the economy, there has been a visible drop in the GDP value of the economy given that the sectors that were adversely affected by the pandemic were however related to the economic value. Specifically, manufacturing has greatly suffered around 30 percent fall by the arrival and somewhat departure of the second wave. Some of the impacts included the loss of several jobs and major salary cuts.

However, stock markets were minimally affected by the pandemic whereas the retail investors almost flocked the overall stock market showing not-so precedent interest. S Ravi has also expressed his views on

Views on the changes caused by the pandemic

The pandemic has led companies and businesses to incorporate work from home in their daily life. In terms of companies, there are a vast number of such companies that have effectively compromised on their establishment costs were the office space was greatly compromised besides the introduction of the secure data protocols. Furthermore, the ex BSE chairman also said that it was approached in a mixed manner where the core objective was to continue the operations of the companies and the businesses and was initiated with strict consideration of the COVID protocols.

Another point of views

The former BSE Chairman has also expressed his views on the introduction of crypto to the world where he stated that the cryptocurrency has opened the positive gates of the future but given that there has been an active absence of regulations, it is somewhat labeled as risky. Furthermore, he added that if the present condition of the situation is taken into consideration, then it will be considered non-conductive to the crypto trading world because of the minimal investor awareness and regulations.

Adding to that, S Ravi also established his point by keeping forward the point that when it comes to the crypto market, regulations play a vital role so that the mini-investors are offered maximum protection and there is no conduction of misspelling. He further went on to contradict that framing the regulations regularly is not what the current world can afford to do at the moment.

Thus, the former BSE chairman, S Ravi, has strongly kept his views on both the issues related to the pandemic and the new world of crypto and the potential future that it holds for the upcoming generation

[brazilnews]

Sethurathnam Ravi (S Ravi) Former Chairman of BSE And His Achievements

Sethurathnam Ravi, famously known as S Ravi is a chartered accountant who is based in India. Additionally, he is also the managing partner as well as a promoter of Ravi Rajan & Co. Besides this, S Ravi is also known as the former chairman of BSE or Bombay Stock Exchange.

In terms of education, S Ravi has achieved both his Bachelor’s and master’s degrees in the field of commerce at Durgavati University that is situated in Madhya Pradesh. Thus, he is a well-qualified man of knowledge with extreme experience in the financial and management fields.

Achievements

When it comes to achievements, S Ravi has been known to serve the Tourism Finance Corporation of India as an Independent Director. By the year 2019, he became one of the board directors of SBI Payments Services Pvt. Ltd. But before joining BSE, he served on numerous boards of companies namely SBI-SG Global Securities, UTI Company Ltd, SMERA Ratings, BOI Merchant Bankers, and STCI Finance. Not only that, he affirmatively serves as a member of SEBI’s takeover panel along with the ICAI or Institute of Chartered Accountants of India.

Consequently, in a nutshell, S Ravi was the BSE chairman from November 2017 to February 2019 affirmatively. Back then when he became the public interest director at the BSE, he positively replaced Dhirendra Swarup.

He was made the BSE chairman on the statement that he has good knowledge and experience in obtaining numerous positions on several boards of the banks along with the asset management companies and the financial institution in the respective financial sector.  As of now, he is currently working as the founder and the managing partner of Ravi Rajan and Company which is an advisory and accountancy firm whose headquarter is based in Delhi, India.

This BSE chairman proudly holds his DISA or Diploma in Information System Audit. Furthermore, he is a talented and esteemed member of the association of CFE or Certified Fraud Examiners along with being a registered insolvency resolution professional. Likewise, as a BSE chairman, he has his share of contribution in the companies that are associated with financial and asset management in the field of finance. So, in his time as BSE chairman, S Ravi did everything in his power for the overall betterment.

S Ravi’s tenure professionalism has spanned for over three decades which means that he has gained immense experience in the overall area of banking and finance, management and financial consulting, valuations, mergers and acquisitions, auditing of the correspondent companies and the banks among them, rehabilitation and restructuring of the companies following up with the turnaround strategies.

Thus, S Ravi has acted often as a frequent speaker at the correspondence regular bodies namely RBI, SEBI, ICAI. In his opinion, Mr. Ravi firmly believes that the same rights should be given to women that are given to men and help in addressing issues related to this topic. Apart from this, he is very fond of sports and other burning issues such as education and globally climate-changing situations.

[brazilnews]

Sethurathnam Ravi Known as S Ravi and His Corporate Journey

Sethurathnam Ravi, popularly known as S Ravi pursued his Bachelor’s and Master’s degree in Commerce from Madhya Pradesh’s Durgavati University. His academics and talents led him to various job roles in the corporate world where he proved his worth.  He was able to secure a place as a fellow member of the Institute of Chartered Accountancy of India. He was a chartered accountant who was based in India along with being the managing and promoter partner of the Ravi Rajan & Co. He was also the honorable BSE chairman.

S Ravi’s corporate journey

His corporate journey is also inclusive of associating with the SBI Payments Services Pvt. Ltd where he was a member of the Board of directors. Before being a member of BSE, S Ravi also actively served on several companies out of which are SMERA Ratings, UTI Company Pvt. Ltd., STCI Finance Ltd, SBI-SG Global Securities, and finally the BOI Merchant Bankers.

The former BSE chairman’s corporate journey also comprises holding respectable positions on the financial institutions, boards of banks, and a few of the companies that are associated with asset management in the field of finance.

S Ravi’s plan for BSE

When S Ravi was appointed as the BSE chairman, he decided that the core goal of his business will be centered on the commodities because according to him the when the exchange is initiated, it would somehow be centered on the diversification of the business which funds led to a smooth venture into the commodities derivatives. When S Ravi became the BSE chairman, he succeeded Dhirendra Swarup.

As a BSE chairman, his main vision was governance where he stated that various governance has been incorporated in the corporate world of India so when the governance is improved, an efficient business will be lead. His corporate life also includes being a member of the mutual fund’s discovery committee alone g with the SEBI’s takeover panel.

As of the current times, S Ravi is the chairman and an esteemed director of the Tourism Finance Corporation of In the dia which is a government financial institution to promote tourism in the entirety. Some of the other boards where S Ravi serves are known as Aditya Birla Health Insurance Co. Ltd, SBI Payments Services, and others.

During his corporate life, S Ravi has a positive response towards all the dynamics and technology that the world has introduced to the current generation. He has supported neo banking where he established that the introduction of the efficiency, reach and technology of neo banking has created a positive impact on the world.

Thus, the former BSE chairman has his share of contribution to the corporate world where he did his best in doing everything he could do for the overall development of the company and the collateral benefits that people of the company can enjoy. His entire corporate journey includes his unexpendable responsibilities and he carried it out in a very ace manner. Therefore, these are some of the notable deeds and duties that S Ravi has managed to do during his corporate time.