Interview by Bhawna Rawat
Mr. Biswajit Rout is currently working as the HOD, Finance, at RCM College, Bhubaneswar, Odisha. He has a considerable experience of 20 years in academics and industry. His teaching interests include Financial Derivatives, Security analysis & portfolio management, Financial Management, Business Valuation and Financial Modeling, Strategic cost Management & Financial Reporting. He has worked as a Consultant for various companies for financing and budgeting, Consultant for tax planning. He is the co-author of the books “Financial Management” and “Working Capital Management”.
The importance of Education for an individual and the society
Education is the tool which helps us in removing our all doubts and fears about all the challenges and happiness in our life. It is the tool which keeps us happy and peaceful as well as helps us to better socialize with human beings. Education is not only about gaining knowledge; however, it means, learning the ways to be happy, to keep others happy, to live in the society, to tackle challenges, to help others, to take care of old people and how to behave with others.
My dear friends, education is like a healthy food which nourishes us both internally and externally. It makes us strong internally and gives lots of confidence by building our personality and giving us knowledge. A good education is the only way to remove bad habits, poverty, inequality, gender discrimination and so many social issues.
Since 2000, I am into this industry, where I have seen students who succeeded in their career only through hard work and high ambitions.
The Indian economy growth and the future of Finance
The Indian economy is currently passing through a difficult phase. The growth has slowed down and inflation remains high. The fiscal and current account deficits are also at a high level. We need to address these issues if we have to achieve a sustained high growth rate. However, these developments should not hide the fact that over the seven-year period beginning from 2005-06, the average annual growth rate has been 8.3 per cent.
We should also not underestimate the changes that have occurred in the Indian economy over the last two decades. Nor should we overlook the impact of poor economic performance of the advanced economies after the international financial crisis. While the US has shown some improvement, many countries in Europe are caught in a second recession. These developments are bound to affect the growth prospects of the Indian economy.
The year 1991 is a landmark in the post-independent economic history of India. The country faced a severe economic crisis, triggered in parts by a serious balance of payments’ situation. The crisis was converted into an opportunity to effect some fundamental changes in the content and approach to economic policy.
There is a common thread running through all the measures introduced since July 1991. The objective is simple and that is to improve the efficiency of the system. The regulatory mechanism involving multitudes of controls had the fragmented capacity and reduced competition even in the private sector. The thrust of the new economic policy is towards creating a more competitive environment in the economy as a means to improve the productivity and efficiency of the system. This is to be achieved by removing the barriers to entry and the restrictions on the growth of firms.
While the industrial policy seeks to bring about a greater competitive environment domestically, the trade policy seeks to improve international competitiveness subject to the protection offered by tariffs which are coming down. The private sector is being given a larger space to operate as much as in some of the areas, earlier reserved exclusively for the public sector, are now also allowed to the private sector. In these areas, the public sector will have to compete with the private sector, even though the public sector may continue to play a dominant role.
The thing which is sought to be achieved is an improvement in the functioning of the various entities, whether they are in the private or public sector by injecting an element of competition. There is, however, nothing in the new economic policy which takes away the role of the State or the public sector in the system. The New Economic Policy of India has not necessarily diminished the role of the state; it has only redefined it, expanding it in some areas and reducing in some others. As it has been said, somewhat paradoxically, ‘more market’ does not mean ‘less Government’, but only ‘different Government’.
- Trends in Growth
That our economic reforms are on the right track is indicated by the performance of the economy since the launch of reforms. In the post-reform period beginning 1992-93, the economy has grown at an average rate of 6.9 per cent per annum, a significant improvement over the pre-reform period.
Coming to the more recent period, as mentioned earlier, economic growth in the seven-year period beginning 2005-06 despite the crisis affected the year of 2008-09, was at an average of 8.3 per cent. This clearly represented an acceleration in the pace of growth. Per capita GDP grew at an average of 7.0 per cent in these seven years.
Traits found in a good leader who can lead a group of people efficiently
The true leader is someone who earns respect through his rightful actions and mass following without any dictatorship. He inspires others to follow in his footsteps and become the guiding light for the humanity. The great leader is someone who carries the torch of wisdom and enlightens the society thereby leading people to the path of progress and growth. Besides, the true meaning of leadership is having the requisite ability to enable people to want to follow you while being under no compulsion as such to do so. Leaders are those people who set certain benchmarks and try to achieve those benchmarks by allowing people to judge them according to their actions and endeavours.
A leader must set the goals and all might be put towards achieving those goals, but without compromising the ethics and morals – this is the true mark of a great leader
Leaders who possess great leadership qualities effectively channelize their energy and devote themselves to the growth and progress of humanity. The restrictions or obligations that he/she imposes on himself/herself enable him/her to rise against all odds and never bow down to the circumstances. Always remember that the love of the supreme excellence is found in a great leader. I believe a true leader is someone who is able to establish a connection with the almighty and realizes by faith that he/she is a mere instrument in the hands of it and dedicates his entire life to become an inspirer and guide of the higher sentiments and ambitions of the people.
The significant challenges faced while handling the responsibility of an HoD at RCM, Bhubaneswar
Yeah, there are many challenges but I love to handle anything which is coming in my way while serving the students. You see if you won’t love your exertion you won’t be able to be a perfectionist. If you won’t be able to be a perfectionist in this industry then you can’t be loved by your students because they are always looking for an inspiration in you. Whatever might be the challenge, we need to develop our physical and mental strength in order to face challenges. We also have to make the right decisions in our lives. For example, selecting a stream for the A/L examination is a challenge for most students. So, they let their teachers, parents or friends choose the subjects for them. We should not be weak enough to let others make decisions on our behalf.
By making proper decisions, working according to a plan, taking responsibility and speaking up for oneself, one can overcome challenges and win over the world. Let us face challenges and make ourselves successful individuals.
Shoot for the moon. Even if you fail, you’ll land among the stars.”
RCM’s curriculum ensuring the best practice of industry
We have different best aspects. That is why we can call our curriculum as the best one. It includes Large air-conditioned lecture theatres, adequate to accommodate 150 students in each, scientifically designed, and offering ultimate sitting comfort. Audio-visual teaching with 35 mm slide projectors and LCD projectors offer an advanced learning experience. I can say RCM’s Auditorium is an impressive mix of contemporary design and traditional structure. Situated on the beautiful RCM campus, the auditorium is surrounded by trees and plenty of green space. The centre can be used to host meetings, conferences, classroom seminars, pre-placement interaction and other special events. Also, we have a world-class centre for development of communication, soft skills & leadership qualities which has been built in consultation with CACM, STEP-IIT, Kharagpur to provide individual and group instructions to the students. The centre is designed to prepare the students to excel in various fields by improving their communication skills in presentation, group discussions, mock interviews and more.
With a collection of over 25,169 books, Gyan Sagar is your hub for business information at RCM. We source the highest quality resources -- academic and professional, books and journals - for conducting requisite research. A reference librarian is available to help you find the data you need. The RCM’s 135,000 square area of campus in Bhubaneshwar, Odisha is known for its impressive green credentials. Established in 1982, the college infrastructure’s beauty hasn’t diminished over the years or with the construction of some of its newest and eco-friendly buildings. Prior emphasis is on recreation with a wide range of facilities. RCM benefits the students by emphasizing the key aspects that improve the quality of education & campus life, like; student-oriented education, small class sizes, outstanding faculty & rich communication flows. Apart from this facility if we can talk about academics then we are more focused on practicals like ppt skills, mock interview skills, Extempore, Personality development, Communication improvement, international visits, industry visits etc.
The placement opportunities available at RCM, Bhubaneswar
At RCM, we are providing the best industry’s placements because we have a strong alumni network of last 32 years of excellence. Final placements happen during the last term. A formidable array of the best companies in India and the world visit the campus year after year searching for the best talent. Having reached key positions in the top corporate worldwide and contributing at all levels in various global conglomerates, the Institute's alumni form a sustainable competitive advantage for the organizations that recruit them.
Over the years, the market for the Institute's graduates has remained bullish, as freshly placed recruits continue to deliver on their promises. As a part of Life Skills Development, the students are trained in various fields of personality development and communicational skills. The students are given training in a spell of four / six semester’s right from the first year onwards. The training is given in Quantitative Aptitude, Verbal Ability, Personality Development and HR interviews. All students are encouraged to attend the training programs for an enhanced performance in the campus interviews. We hand-hold our students through career guidance, motivational activities and counselling, knowledge sharing activities and various capacity building measures. The objective of our institution is to empower the students with pre-placement training to get employed.
As a Finance HOD, I used to guide my students that don’t run behind employers for employment, make yourself so knowledgeable so that employers will run behind you to offer employment.
Read more about placements opportunities available at RCM
The amenities making RCM as an ideal environment for students
We believe in an ideal school environment. We have started this trend by facilitating an attractive campus that is highly upgraded with the world-class amenities, air-conditioned rooms, LCD projectors, Bank ATM counters, cafeteria, a divine temple of Lord Jagannath, gymnasium, hostels and more. Fully organized library, consisting over 25,169 books/reports, 873 volumes, 2500 leading online journals with rich references in all subjects like accounting, marketing, etc.
Gyan Sagar is peaceful and spacious with over 10,000 different titles. Clean, perfectly organized programming lab powered by an IBM Server and a well-maintained laptop park for the students who use laptops. Institute’s academic mission is to upgrade to hi-tech computing labs with the latest technologies. A fully integrated centre with world-class structured communication lab that imparts software, leadership and communication skills.
The C-Lot has been built in consultation with CACM, STEP-IIT, Kharagpur and is designed to prepare the students to improve their skills in presentation, group discussion & mock interview. The 1st academic council meeting of BPUT was held in RCM’s large, air-conditioned, spacious and convenient auditorium. This superior comfort level of the auditorium is used by the faculty and students for classroom seminar project presentations, pre-placement interaction and more.
Large air-conditioned lecture theatres, adequate to accommodate 150 students in each, scientifically designed with ultimate sitting comfort. High-quality Audio-visual teaching with 35 mm Slide projectors and LCD projectors offer an advanced learning experience. Separate boys and girl’s hostels accommodating more than 200 students in the vicinity of the campus. Well furnished rooms with attached toilet facilities, housekeeping facilities, telephone, television and other amenities for that added convenience in hostel accommodation. Prior emphasis on recreation with a wide range of facilities.
RCM benefits the students by emphasizing on key aspects that improve quality of education & campus life, like; student-oriented education, small class sizes, outstanding faculty & rich communication flows. The Institute provides an on-campus canteen and a food corner which offers hygienic and healthy food at a reasonable price throughout the day. The RCM’s guest house provides fully furnished and air-conditioned rooms with on-campus amenities ensuring a comforting experience for the guests. The Hi-tech campus security modules installed throughout the campus offer an unparalleled safety to the guests of RCM. RCM boasts of one of a kind ethics and Spiritual Training Center that imparts knowledge on Spiritual beliefs, Management Ethics and its association with advanced technology.