Seminar on 'Global Financial Meltdown – Impact on Banks'
Date: 18th April 09
Speaker – Sushil Kumar Sarawgi
Kor Capital Ltd.
Venue: Indraprastha Marg
The New Delhi CFA Association is organizing an evening Seminar to discuss the Global Financial Meltdown – Impact on Banks. The speaker is Mr. Sushil Kumar Sarawgi, CEO, Kor Capital Ltd.
Mr. Sushil Kumar Sarawgi, of New Delhi completed his PGDBA in Finance and Marketing at IBS, New Delhi. He joined Centrum Direct Ltd, Gurgaon as Branch Manager and then he switched to ICICI Bank Ltd., New Delhi as Regional Manager. Currently, he is working as CEO at Kor Capital Ltd., New Delhi.
The "Global Financial Crisis" of 2008, also called as global financial meltdown, global financial turmoil mainly resulted from the sub prime mortgage crisis of 2007.
Sub prime lending crisis, which began in the United States, has led to a restriction on the availability of credit in world financial markets. Hundreds of thousands of borrowers have been forced to default and several major sub prime lenders have filed for bankruptcy
Mr. Sushil will discuss the problems of global banks, which arose mainly due to exposure to sub-prime mortgage lending and investments in complex collateralised debt obligations whose values have seen sharp erosion. Globally, banks have also been affected by the freeze in the inter-bank lending market due to confidence-related issues. On both counts, Indian banks have limited vulnerability. . While the main causes of global stress are less relevant here, Indian banks do face increased challenges due to domestic factors like higher funding costs, mark-to-market requirements on investment portfolios, and asset quality pressures due to a slowing economy. The impact of Global Financial Meltdown would be indirect on Indian Banking Industry.
For further information, on this seminar please contact