FT -Revolutioniser of the financial world

Technology has dug its claws everywhere. There is no one in this age that doesn’t use modern technology. It's present everywhere in office, in homes, in colleges, schools, etc. Mr. Jignesh Shah supporting this fact gave a public lecture at an event of NUS business school. According to him, technology has revolutionized the way we live and also has empowered the financial community of the world. He himself as a 1st generation pioneer entrepreneur gave a push to financial markets in India and of other international countries, which also includes Singapore. He made use of innovative ways of promotion, cost-effective technologies due to which he became one of India’s self-made billionaire just by the age of 40. More than 140 people attended this event, which also included advisory council members of CAMRI and excited students of NUS business schools and its alumni. After his lecture, he answered one-on-one questions asked by the audience. The discussion included topics like various benefits of technology in financial markets, commodity trading advantage in Asia and how Singapore is an exchange trading hub asked by Joseph Cherian, a finance professor and director of CAMRI.


On which Mr. Jignesh Shah stated that as compared to London and Chicago trade systems, Singapore exchange trading needs a clearer perception and detailed execution. And that would take almost 10 years. More questions on exchanges was raised by industry practitioners and MBA students of the university, which lead to a discussion on how to create a better transparency in commodity exchanges with the help of technology and what are the regulations to follow. The event was given a warm ending by Professor Bernard Yeung, the dean of this business school. He thanked Mr. Jignesh Shah for sharing his experienced knowledge, which surely would inspire and encourage business leaders of the future.

Big Opportunity cost to FTIL

In an interview with few media channels, FTIL CEO & MD Mr. Prashant Desai, highlighted the predicament that FTIL as a group was facing in the light of the recent legal actions against itself. The biggest of the this predicament was not being able to contribute towards the Digital India movement which could have had great momentum considering FTIL’s expertise in the technology domain. The most important loss of all in the losses that FTIL had to go through since the NSEL crisis was the Opportunity Cost which cannot be calculated in sheer numbers.

The statement that the company was going through rough time/ dire straits is probably an understatement because of the kind of action that has meted against FTIL despite there being no money trail established to FTIL or its promoters is unprecedented.

Ministry of Corporate Affairs, in the application for 396 in terms of the merger very clearly specified that there is no money trail established to either FTIL or its promoters. Despite that this is the kind of action that FTIL is meted upon with poses its own challenges for the company.

The biggest cost to FTIL is the opportunity cost considering the way this country is developing and progressing in the technology space and how digital India is moving ahead. FTIL’s ability to contribute from a technology perspective to this entire digitization can be massive considering our expertise in the field. It could well have been the biggest contributor towards the Digital India movement across sectors and business verticals.