The India Business Initiative at the Jerome A. Chazen Institute of International Business presents

Financial Inclusion in India – Is It Finally Possible?

A discussion with Nachiket Mor, chair, Reserve Bank of India's Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households and Ray Horton, Frank R. Lautenberg Professor of Ethics and Corporate Governance, Columbia Business School, moderated by Suresh Sundaresan, Chase Manhattan Bank Professor of Economics and Finance, Columbia Business School.

Monday, February 3, 2014
Pre-reception and registration starts at 6:00pm
Discussion starts promptly at 6:30pm

Registration is now closed; walk-ins will be permitted as space allows.

Columbia Club
15 W. 43rd Street
New York, NY

The war on poverty has been fought for half a century in the United States – and far, far longer in India. While India’s economy has grown at an unprecedented pace, millions of its citizens remain in abject poverty. One key to empowering the poor, and small business owners, is access to basic financial services such as banking and credit. Dr. Natchiket Mor, chairman of a committee of the Reserve Bank of India on promoting financial inclusion, will lay out six recommended major policy steps, including:

  • Availability of a secure, full-service electronic bank account for every citizen over age 18
  • Access to regulated lenders 
  • Access to a range of deposit and investment products Don’t miss this opportunity to hear one of India’s most influential policy makers


Natchiket Mor is  Yale World Fellow; has a Ph.D. in Economics from the Graduate School of Arts and Sciences at the University of Pennsylvania, with a specialization in Finance from the Wharton School; an MBA in Finance from the Indian Institute of Management, Ahmedabad; and an undergraduate degree in Physics from Mumbai University. He is Board Chair of CARE India and a member of the boards of Reserve Bank of India (RBI), IKP Centre for Technologies in Public Health, and CRISIL. He recently served as the chair of RBI's Committee on Comprehensive Financial Services for Small Businesses and Low Income Households. He is a member of the RBI's High Level Advisory Committee on New Bank Licenses and the Center Council of Health and Family Welfare of the Ministry of Health and Family Welfare, Government of India. he worked with ICICI from 1987 to 2007 and was a member of its Board of Directors from 2001 to 2007. From 2007-2011, he served as the founding president of ICICI foundation and during this period was also the chair of the Governing Council of IFMR Trust and Board Chair of FINO. During 2011-12 he served as a member of the High Level Expert Group on Universal Health Coverage appointed by the Planning Commission. In the past he has served as a board member of Wipro for five years and board chair of the Fixed Income Money Market and Derivatives Association of India for two years.

Ray Horton, a lawyer and a political scientist, teaches the course Modern Political Economy at Columbia Business School, where he is Frank R. Lautenberg Professor of Ethics and Corporate Governance. A member of the Columbia Business School faculty since 1970, he served two years while on leave from the School as Executive Director of the Temporary Commission on City Finances during the New York City fiscal crisis, and later served 15 years as director of research and president of the Citizens Budget Commission. His publications in the field of public and nonprofit management include 14 books, numerous journal articles and policy studies. In 1983, he founded the Public and Nonprofit Management Program at the School. In 1998, that program morphed into the Social Enterprise Program, which Horton directed until 2009. In 2009, he was named faculty director of Programs in Social Enterprise in the School's Executive Education division, a position that makes him responsive for providing open enrollment programs for nonprofit managers as well as custom programs for select business, government and nonprofit clients.

Suresh M. Sundaresan is the Chase Manhattan Bank Professor of Economics and Finance at Columbia Business School. He has served on Treasury Bond Markets Advisory Committee and on the Financial Markets Round Table at the Federal Reserve Bank of New York. He has served as a Resident Scholar at the Fed and as a visiting scholar at the IMF. He has testified to the U.S. Congress on transparency issues relating to bond markets.  He is a consultant to Capula Investment Management, LLP, and has worked full time with Lehman Brothers and Morgan Stanley in Fixed Income Research and Investment Management. He served as an expert witness in the Enron bankruptcy trial, and testified on rate hearing to the California Public Utilities Commission. His recent publications have appeared in the Annual Review of Financial Economics, the Journal of Portfolio Management and the Journal of Finance.