ICAI discusses the Cost of Demonetization, launches BFSI@2016

The Institute of Cost Accountants of India organised a Discussion on the effect of Demonetization on the cost of doing business on December 21st, 2016 at the JN Bose Auditorium in its headquarters in Kolkata. The Inaugural Session of the evening was flagged off with the Welcome address, given by CMA Amit Anand Apte, the Chairman, Professional Development, Banking & Insurance Committee of the Institute. CMA Manas Kumar Thakur, President of the Institute delivered the keynote address, which was followed by a Special address of Indronil Roychowdhury veteran journalist from the Financial Express. The Inaugural Session concluded with an address by the Chief Guest, KB Vijay Srinivas, General Manager, National Insurance Co Ltd.


BFSI@2016 an Indian Express initiative on the Banking, Finance and Insurance Sectors in eastern India was then launched by the dignitaries. It was a coincidence that was cherished by many in the audience as among the dignitaries launching the special issue was Prof. Dilip Shah Dean of Student Affairs of the Bhawanipur Education Society College (BESC) – an institution, whose students had contributed the lion’s share of the content of the magazine.

The second session witnessed a spirited discussion on the topic by an esteemed panel comprising of KB Vijay Srinivas; Dhiraj Chakraborty, DGM, Calcutta Stock Exchange and Tridibesh Bandopadhyay, Founder, Director & CEO of InQube Innoventures. The discussion was moderated by Prof. Dilip Shah of BESC.

While the discussions sought to analyse the effect of demonetization on the economy primarily from the costing worldview, speakers highlighted various likely scenarios that the step could throw up, explaining their significance. Prof Dilip Shah not only summed up the proceedings with elan but also threw his theory on demonetization to the audience as food for thought.