“The work of RBI and Chartered Accountants orbits around the financial decisions and occurrences of our country. Both these professionals are erudite financial experts who have worked together on numerous accounts. It is wonderful to see that aspiring Chartered Accountants to learn it all at such a tender age. Congratulations to team WICASA Nagpur for this wonderful project” said Dr. P.S. Venkateswaran, GM, Human Resource Management Department while delivering his introductory remarks in an educational visit to the Reserve Bank of India, Nagpur Office organised by Nagpur Branch of WICASA.
The event commenced with the officials of RBI giving the students a tour of the RBI, Nagpur Office while explaining to them about the objectives and functions of the various departments that constitute this branch of the supreme regulatory body of the banking institutions of our nation. The aim of the visit was to familiarise the students with this apex institution of the banking sector and its importance in the economy.
The session took off with the AGM, Banking Dept. & PDO, Devendra Bonde, conducting an interactive session with the 40 CA students who actively participated in the educational tour. He explained how the financial statements of the currency issuer of our country are prepared. The students listened enraptured when he explained that, ‘The peculiarity of the financial statements of RBI is that it prepares two balance sheets- one by the “Issue Department” and the other by the “Banking Department”. The students keenly listened to the process of ‘Note Issue’ explained to them by the session speaker and asked questions to gain a better understanding.
Students also visited Wockhardt Hospital, a multi-speciality hospital, to understand the functioning and accounting of the medicine industry. The Admin Head, Karthikeyan explained the students about the different types of hospitals and their respective functioning. The Accounts & Finance Dept. head, Sacchit Bakhle explained the process of accounting undertaken in this multi-city chain of hospitals. The students’ curiosity was piqued to know more about the financial accounting of this unique industry. P. Santosh, HR Executive at Wockhardt Hospitals generously entertained the students’ questions and provided them with appropriate answers.
‘Extending a different experience to the students in every educational trip to expose them to as many industries as possible has been the aim of WICASA Nagpur. It has been our prerogative to help the students learn about the accounting system of a very well-known hospital of Nagpur-Wockhardt Hospital and also understand the working of the apex monetary institution of our country-RBI.’, exclaimed CA Sanjay M. Agrawal, WICASA Chairman. He expressed gratitude to the officials of both-Wockhardt Hospitals and RBI for their kind cooperation and concluded with a promise to continue to present such singular experiences to the CA students of Nagpur.
The event also witnessed the presence of CA Harish Rangwani, Executive Member of Nagpur Branch of ICAI and members of WICASA Committee comprising of Vice Chairman- Ayush Gupta, Secretary- Aditi Pacheriwala, Joint Secretary- Riddhi Kothari and Executive Member-R. Aishwarya.