NLDIMSR organizes a seminar on ‘Factoring Services’ by Mr. Tushar Buch, MD and CEO, SBI Global Factors Limited.
The Finance Forum of N. L. Dalmia Institute of Management Studies and Research organized a knowledge enriching seminar on ‘Factoring Services – Issues, challenges and appraisal’ on 24th August 2016 delivered by keynote speaker Mr. Tushar Buch, MD & CEO and assisted by Mr. Ananthnarayanan Iyer, Vice President of SBI Global Factors Limited.
The seminar started with the speaker explaining the importance of trade finance and later ventured into the concept and need of factoring services. He explained the evolution of factoring services in India. He also educated the students about the existing legal framework around factoring in India i.e. the Factoring Regulation Act 2011. The various types of factoring were explained using examples and illustration of domestic and international trade transactions. He highlighted that the scope of factoring is not limited to financing the trade but encompasses a complete receivables management of the client, thereby enabling him to focus on his core business areas.
He emphasized on significance and use of factoring services in global trade and also mentioned that the Indian scenario is different due to various challenges faced by the factors in India, one of them being the lack of penetration of credit insurance services. He mentioned various other challenges faced by the industry and then explained the future expectations and growth path of this industry in India.
He actively questioned and interacted with the students thus ensuring maximum participation from them. The seminar ended with Prof. Dr. Anil Gor felicitating the guests.