Reserve Bank of India (RBI), Ranchi organised an inter-college debate competition on the topic, ‘Factoring climate risk in institutional finance will impede growth in developing country like India’, in the city on 23 March 2022.

The debate competition saw participation of two students each from premier educational institutions across the state including Xavier Institute of Social Service (XISS), Ranchi; Xavier School of Management (XLRI), Jamshedpur; Indian Institute of Management (IIM), Ranchi; Birla Institute of Technology (BIT), Mesra and St. Xavier’s College, Ranchi; wherein 5 students spoke in favour of the motion while the other 5 spoke against the motion. The team speaking against the motion, won the debate competition. 

Ms Riya Verma, a second-year student of Financial Management Programme at XISS spoke ‘against’ the motion and stated that the Earth’s surface temperature has risen at a record pace in recent decades, creating risks to life, ecosystems, and economies. She mentioned that several researches have pointed out that further warming is unavoidable over the next decade, and probably after that as well and that Global emissions are increasing fast, making climate change a far bigger reality than one could ever imagine.

To read more on her statements, click on the PDF.

While, Mr Robin Sethi, a second-year student of Financial Management Programme at XISS spoke 'for' the motion and highlighted that factoring climate risk is inevitable but not at the cost of opportunities, affordability, and growth of our country and its citizen. He mentioned that factoring in climate risk would definitely impede the growth of India and create huge hurdles in its way to prosperity.

To read more on his statements, click on the PDF.

RBI General Manager (In-charge Officer), Mr Sanjeev Sinha shared the importance of the debate competition, while the event was judged by a panel consisting of Mr HS Gupta, Retd. IFS and Dr Harishwar Dayal, Director-in-chief, Centre for Fiscal Studies.