Bhubaneswar: The Indian religious values are behind shaping up of financial regulations in India that resulted in immunity from global financial shock way back in 2008, said Rabi Mishra , Executive Director of the Reserve Bank of India speaking at the concluding day of three-day long Kalinga Literary Festival here.
Referring to the analogy of God Shiva’s family and their Vahans who have hunter-prey relationship among each other, the RBI executive director said , “Like all these vahanas stay together despite sharing an uneasy relationship because of their devotion towards God Shiva, the Indian financial regulations are robust because they have one single motto which is protection of general public.”
Discussing his recently published book ‘Systemic Risk and Macroprudential Regulations’, Mishra opined that coordinated approach of decision making is the key feature of a robust economy.
Discussing global economies and their interdependence, Mishra said the global financial institutions such as IMF, World Bank etc should consider the feedback of all the economies before taking a decision rather than imposing their decision on all member-states.
“What we see today in global financial institutions is top-down approach which hardly produces a result since countries such as China do not even attend meetings of IMF. If they adopt a bottoms up approach, such as listening to the necessity of other countries than just conveying desires of the US and UK, then the decisions of these institutions would become all conclusive,” he said while discussing with columnist Tamal Bandopadhyay here.
The sixth edition of Kalinga Literary concluded on Sunday with 15 engaging sessions ranging from literature to cinema, food, city life, economy and literature. In the three-day long event, a total of 45 sessions were held where subjects such as Gandhina ideas, feminism, contemporary literature, arts and paintings, cinema, politics and government , journalism , cultural heritage, book publication business, religion and trade got featured by more than 200 eminent speakers from across the India along with poetry recitations every day.
Gandhi and Modern Marketing
In a session dedicated to Gandhian approach to marketing and media, Santurpt Mishra, a senior executive with the Aditya Biral Group said Gandhi’s successful mobilization of masses towards freedom struggle can be replicated in a marketing strategy having far reaching effect.
“For example, Gandhi’s people centric approach can be replaced consumer-focused sentiments while taking marketing decisions,” said the Group HR head of Adity Birla Group.
He said Gandhian approach is still relevant in communicating to the masses provided consumer-benefit should be the core value of marketing.
During a session on reimagining cities, historian and cultural expert Pushpesh Pant said the rapid immigration of a particular cultural group towards an expanding old cities, is replacing older cuisine and thus, traditional culture also gets diluted.
“As a result, even cities which were created in order to be different from villages are having striking similarities with villages now in the form ghettoisation,” he said.
About KLF 2019
The 6th Odisha Tourism Kalinga Literary Festival, the largest summer festival of India, concluded on 21 July 2019 . For the first time Odisha Tourism has tied up with the event to promote tourism in the state. This is first such engagement of Odisha Tourism in any literary festival.
KLF Founder and Director Mr. Rashmi Ranjan Parida believes that KLF 2019 is unique in many ways as it bridges the gap between the local, national and global literary dialogues.
In the inaugural session. Pavan K. Verma, Rajendra Kishore Panda, Paro Anand received the prestigious Kalinga Literary Awards of 2019 for their world standard inspiring work in the literary and professional world. Young and dynamic writer Kedar Mishra of Odisha was conferred with Prestigious Kalinga Literary Youth Award of 2019 .
The Kalinga Art Festival
The art festival, which runs simultaneously with the main KLF event, has attracted more than 60 artists from many states of India this time. There are dedicated sessions on understanding and appreciating art. The artists and expert art critics discussed important concerns in their profession, the connection between art and literature and moreover, prepare a roadmap for future engagement on the second day of the literary event.