Regional Seminar on Investor Education – Focus: Capital Market and Pension System

Abhyutthana Financial Learning Centre ( AFLC), a Civil Society Organisation  ( CSO) accredited to World Bank, organized “Regional Seminar on Investor Education: Focus – Capital Market & Pension System ”  in Geeta Govind Sadan, Bhubaneswar on  July 20, 2019, with great success. 

The Seminar was inaugurated by Shri G Mahalingam, Whole Time Member, SEBI and presided over by Shri K R Das , former Regional Director, RBI, Hyderabad,  Shri M K Mall , Regional Director, RBI, Bhubaneswar and Shri Hemant Contractor, former Chairman, Pension Fund Regulatory and Development Authority ( PFRDA)  ( 2014-2019)  were guests of honour.  At the out set Shri Siladitya Choudhury, Advisor, AFLC  welcomed the guests. Shri Dasarathi Mishra, Founder and Managing Partner of AFLC introduced the guests.

 Shri Mahalingam,  Shri Hemant Contractor, and  Shri Moloy Biswas, Regional Manager, CDSL, Kolkata – an expert on  capital market addressed and interacted with the participants.  It heartening to note that   for  the first time in Odisha, Pension Literacy has been discussed in a large forum by the experts.

On this occasion, a special Issue ” FIN LIT LIGHT” containing articles on financial inclusion by experts was released.  Around 150 people comprising  officials from banking, insurance , MFI sector , senior citizens, academicians and students of select business schools were participants. 

Shri Pravat Mohanty senior member,  Odisha Investor Education Forum proposed a vote of thanks.


On 20 April 2019, AFLC organized a Workshop on Financial Literacy in the PG Department of Commerce and PG Department of Business Management of Fakir Mohan University, Balasore.

The workshop was conducted by D Mishra, Managing Partner, S Choudhury, former General Manager, RBI and M M Dash, Manager, Office of Banking Ombudsman, RBI Bhubaneswar. 

It is worth mentioning that :Fakir Mohan Senapati (Odia: ଫକୀର ମୋହନ ସେନାପତି; 13 January 1843 – 14 June 1918), referred to as Utkala Vyasa Kabi was an eminent writer, poet, philosopher and social reformer. He played a leading role in establishing the distinct identity of Odia, Fakir Mohan Senapati is regarded as the father of Odia nationalism and modern Odia literature.

There was a thunderous applause when the participants were informed that the speaker Shri Siladitya Choudhury , is the great grandson of Vyasa Kabi Fakir Mohan Senapati.

The speakers explained the significance of saving , investment , basics of banking, overview of banking structure, functions of RBI , Monetary policy , complaint redressal system in banks and role of Banking Ombudsman in the grievance redressal system.

A financial Quiz was conducted. 10 students were awarded story books by world famous authors like Anton Chekhov, Oscar Wilde, Leo Tolstoy.

The program was co-ordinated by Professor (Dr ) A B Jena of the University.

A financial Quiz was conducted. 10 students were awarded story books by world famous authors like Anton Chekhov, Oscar Wilde, Leo Tolstoy.

The program was co-ordinated by Professor (Dr ) A B Jena of the University.


The World Bank Group and IMF hosted a  Civil Society Organisation Policy Forum (CSPF) as part of the 2019 Spring Meetings during April 9 -13 , 2019.

We are pleased to inform that  D Mishra, Managing Partner, AFLC was invited to  attend the CSPF  Meetings on individual accreditation.  This accreditation  provided access to all open events of the 2019 Spring Meetings.

On the 9 the April,  Kristalina Georgieva, Interim President and CEO of World Bank, inaugurated and gave the WBG Orientation Opening Remarks.  Mr Mishra participated in CSO Roundtable Conference with Executive Directors of WB and CSO Innovation Fair.

Attended important sessions  : Bretton Woods at 75 -Rethinking International Co-operation, Money and Payment in the Digital Age,  One-on-One with Christine Lagarde, featuring Sir David Attenborough: Balancing Nature and the Global Economy, Managing Capital Flows :What is the Right Policy Mix.

In the discussion on Managing Capital Flows, which was moderated by  the  Fund Senior Managing Director, Lipton, featured Stanly Fisher, Dr Raghuram Rajan and Bank of England Governor. In the Chief Economists Roundtable, Christine Lagarde made the opening remarks. The session  was moderated by Gita Gopinath, Chief Economist, IMF. In the Governor Talks , Shaktikanta Das, Governor , RBI spoke about “ Global Risks and Policy Challenges” moderated by Chang Yong Rhee, Director of the IMF Asia and Pacific Department.



We have the pleasure in informing you that AFLC organized Workshop on Financial Literacy at DAV School of Business Management, Bhubaneswar on 13 March 2019. The program was conducted by D Mishra, Managing Partner, AFLC, Shri SR Das former CGM, RBI and Shri S Choudhury former General Manager, RBI. Dr D N Mishra, Principal of the business school welcomed the gathering. The student representatives of DSBM made a formal introduction of the guests.

Shri Shreedhar Behera, Banking Ombudsman, RBI Bhubaneswar addressed the budding talents on various functions of Banking Ombudsman and in particular the Grievance Redressal System available for bank customers.

Shri D Mishra, former CGM threw light on the need of financial literacy in the society and discussed financial awareness messages, financial structure, financial sector reforms, role of banks, NBFCs in financial inclusion.

Shri SR Das, former CGM, RBI explained the central banking function of RBI and gave an overview of the currency management and forex reserve management.

Shri S Choudhury, former GM, RBI gave an outline of the Monetary Policy methodology, liquidity management undertaken by RBI.

A financial quiz was conducted by Shri Choudhury. Books on popular writers/ scientists viz. Leo Tolstoy, Oscar Wilde, Maupassant, O Henry, Edgar Alan Poe, APJ Kalam were given to 10 select students.

AFLC is thankful to Prof (Dr) Anshuman Mohanty, DSBM for coordination of the programme.

AFLC also thanks Shri Nihar Nayak, Office Manager for his logistic support.

In all ,123 students and faculty members participated.



AFLC in collaboration with Indian Chamber of Commerce (ICC), Bhubaneswar organized a day -long Conference on Financial Inclusion and Emerging Challenges – Focusing MSMEs” on 8 February 2019 (Friday) at The New Marrion , Bhubaneswar.

Smt Shyamala Gopinath, former Deputy Governor, Reserve Bank of India and present Chairperson, HDFC Bank inaugurated and delivered as the Key Note address. The inaugural session was graced by Shri Gangadharan , Chairman , South Indian Bank, and Shri P Krishnamurthy, former CGM, RBI, Shri M K Mall, Regional Director, RBI, Bhubaneswar. Shri JB Pany, Co-Chairman, Odisha State Council of ICV welcomed the guests and audience.

Shri D Mishra, Founder & Managing Partner, AFLC introduced the dignitaries and briefly mentioned the objective of the Conference. Shri A K Sabat , eminent Chartered Accountant proposed vote of thanks.

A special Issue: “FIN LIT LIGHT “ was released by the guests.

A Panel discussion on “Dynamics of evolving financial landscape- policy Ecosystem Banking and NBFCs” with Smt Gopinath as Chairperson and Shri Salim Gangadharan, Shri P Krishnamurthy addressed on banking and NBFC sector.

A Technical Session on “Emerging Challenges and Opportunities for MSME sector-FINANCE” was addressed by experts : Smt Bhama Krishnamurthy, former CGM, SIDBI, Shri N C Das, former GM, Indian Overseas Bank, and Shri Divyajyoti Pattanaik., Director, Annapurna Finance.

Technical session on “Emerging Challenges and Opportunities for MSME Sector-INSURANCE” was handled by Insurance Sector expert Shri Manoj Satapathy, Head, Government and Rural Business, Royal Sundaram GIC Ltd.

A Technical Session on “ Hedging Risk of Forex Exposure for SME Exporters” was handled by Shri Gangadharan and Shri P Krishnamurthy. With their long experience in forex derivative and forex management , they explained the intricacies in forex risk management in a lucid manner for benefit of MSME entrepreneurs.

Shri S Choudhury, Advisory Board, former GM, RBI summarized the proceedings of the Conference. In all 110 bankers, financial professionals, academicians and students participated in the event. AFLC is thankful to Shri S Choudhury, Shri Swapna Sarit Mohanty for the sustained efforts for the success of the Program.



AFLC, in collaboration with Nirmal Bang , HDFC Mutual Fund organized an Investor Awareness and Education Program in Hotel Empire, Sahid Nagar, Bhubaneswar on 8 December 2018. Shri Jagbir Singh, CA, CFP – an expert on capital market made a presentation on “Goal Based Financial Planning through MF”. Dr Anil Swain, Professor, PG Department of Commerce, Utkal University gave an overall assessment of current capital market scenario. The sessions were lively and the participants appreciated. In all, 45 persons- a mix of old and young – participated.
At the outset Shri Pravat Kumar Mohanty, Kotak Securities welcomed the audience and introduced the speakers. Shri D Mishra, Managing Partner, AFLC proposed a vote of thanks.
Shri Swapna Sarit Mohanty, Nirmal Bang, Bhubaneswar unit coordinated the event.


AFLC conducted a Workshop on Financial Literacy in DAV Public School, Pokhariput, Bhubaneswar on 9 November 2018. The students of class XI and XII of the Commerce stream participated.

At the outset, Mr Ved Swaroop -the student representative welcomed the guests and the participants to the workshop. Ms Manaswaini Mohanty, Faculty gave a short introduction of the guests.

Shri D.Mishra, Managing Partner of AFLC briefly explained the objectives and activities of the entity. He explained the financial system, banking structure, including the new breed of banks such as Payment Banks, Small Finance Banks, KYC, credit culture, and going digital, cyber risk, banking regulation and deposit insurance. He then explained significance of real rate of interest, compounding of interest and Magic with 72 and SACHET site of RBI.

Shri Siladitya Choudhury, former General Manager , RBI explained briefly the Financial Awareness Messaging ( FAME) Framework of RBI. He explained important central banking function of RBI, particularly the currency management: printing of notes, distribution, currency verification and Processing System (CVPS), management of foreign exchange . He gave a flair of capital market , particularly use of mutual funds and SIP as an alternative investment channel.

Shri Dharani Dhar Mishra, former General Manager, NABARD and present National Resource Person , National Livelihood Mission of Government of India, spoke briefly the developmental and regulatory role of NABARD. He explained the role of NABARD for furthering financial inclusion in the state. He explained that the SHG movement started by NABARD in 1992,-a concept initially developed in Bangladesh. The recovery rate is as high as 98 per cent.

A Financial Quiz was conducted by Shri  D D Mishra. Students participated very enthusiastically. Financial Education Series books published by RBI were given as prizes to 12 successful students.

Mr Subham Das , Class XII student proposed a vote of thanks.

AFLC is thankful to Ms Farhat Kayamat and Ms Manaswini Mohanty – faculties of the School for the excellent co-ordination work.



On 5 October 2018, AFLC conducted a Workshop on Financial Literacy at Dharani Dhar Autonomous College, Keonjhar for the students of MBA , commerce stream.( Department of Professional Studies).

In all, 100 students , teaching staff participated.
At the outset, Shri N C Samal, Lecturer welcomed the guests and introduced them to the group. 

Dr Archana Das, Principal of the College inaugurated the workshop. In her remarks she mentioned that financial literacy is essential for all individuals, particularly for students. It will make them understand the intricacies of the modern financial world, help them to deal with money and finance more confidently and above all make them good citizens.

Shri D. Mishra, Managing Partner mentioned that Financial Literacy Rate in Odisha is very low. AFLC through its workshop and programmes at academic institutions aims to improve the position, benefitting youth and women who are financially more excluded. He explained the RBI App and advised the students to follow it to get quick information. He explained real rate of interest, compounding of interest and Rule of 72.

Shri M.M Dash , Manager , Banking Ombudsman, RBI Bhubaneswar elaborately explained the Banking Ombudsman Scheme and grievance redressal system in banks. He explained Customer Liability for unauthorized Electronic banking transactions, cyber frauds, new risks in ATM, good practices on safe digital banking and regulation of payment system
Shri Guru Prasad Khuntia, Resource Person, AFLC explained the payment system infrastructure in India with particular focus on UPI- BHIM. He also demonstrated BHIM transactions. It is heartening to note that a few students successfully installed the BHIM App and did remittance of money. The student who could complete the transaction first was awarded a prize. 
Among others Prof Damodar Sahu, Prof BIjaya Behera, Head , Dept of Physics, Prof Itishree Mohanty, Head , Dept of Social Science , lectures of MBA and Commerce Department participated in the workshop.

AFLC is thankful to Shri Rajeswar Patra, District Coordinator (for Keonjhar and Mayurbhanj districts) who was instrumental for smooth conduct and success of the event.


AFLC conducted a Workshop on Financial Literacy in Indian Institute of Mass Communication, Dhenkanal on 6 September 2018. At the outset, Prof (Dr) Mrinal Chatterjee , Head of the Institute welcomed the guests and emphasised the supreme importance of financial literacy in our society.

Shri D.Mishra, briefly explained the objectives and activities of AFLC and how it is committed to bring transformation in the society . He gave an outline of the financial canvass, banking structure, deposit insurance, regulation of banks in India. Saving should be done in banks and regulated entities.He touched upon credit culture, significance good credit scores and explained the Education Loan.

Shri Siladitya Choudhury, former General Manager , RBI briefly explained the functions of RBI and the monetary policy , instruments of monetary control, (Repo Rate , Reverse Rate Rate, CRR, SLR etc.). He explained Rule of 72 , concept of real rate of interest and applicability.

Shri G.C. Bisoi , Manager, Office of Banking Ombudsman , RBI, Bhubaneswar explained the Digital Banking, net banking NEFT, RTGS and cyber risk. He explained the grievance redressal system with the banks and role of Banking Ombudsman in dealing with Complaints in banking system.

A Financial Quiz was conducted by Siladitya Choudhury. Prizes were given to 10 successful participants.
In all, 60 students and office staff participated in the workshop.



AFLC in collaboration with CDSL, and Motilal Oswal Securities Ltd , Kolkata organise an Investor Awareness and Education Program in Bhubaneswar on 25 August 2018. In all, 40 participants, comprising senior bank, RBI , NABARD officials, senior citizens and young entrepreneurs attended the program.

The topic of discussion was: “ From Bank Deposits to Mutual Funds and Equity”.
At the outset, D.Mishra, Managing Partner welcomed the guests and participants and explained the objective of the program.

Shri Subir Kumar Mitra, former Executive Director, NABARD inaugurated the workshop and said that such programs are need of the hour . Senior citizens and young investors should be empowered to deal with Securities market, with comfort and confidence.

Shri Arnav Dutta, AVP, Motilal Oswal and Shri Somanath Majumdar , CDSL, Kolkata conducted the program and interacted with the participants.

Shri Pravat Mohanty, Nirmal Bang , Bhubaneswar unit proposed a vote of thanks.

AFLC is thankful to Shri Swapna Sarit Mohanty, Nirmal Bang and local representative of Motilal Oswal for organising the event.