Industrial Visit

LLIM lays emphasis on imparting practical knowledge and thereby organizes industrial visits every year to various companies in Maharashtra. Students & professors embarked on memorable journeys to Nashik where they were given an opportunity to understand the functions and working of renowned Companies namely:

Year 2015:

  • Crompton Greaves Lucy Switchgear Ltd.
  • Sula Vineyards

Year 2016:

  • Mahindra Pvt. Ltd.
  • Parveen Pvt. Ltd.

Topic: Industrial Visit to RBI and BSE
Venue: Reserve Bank of India, Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai - 400001.
Bombay Stock Exchange,Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001
Date   :  29TH MARCH 2016
Time :  11.00 am to 5.00 pm

“A Field Visit to RBI and BSE

Finance is considered to be the blood of any business and when it comes to understanding finance, we cannot ignore the two main institutions, which are, The Reserve Bank of India (RBI) and The Bombay Stock Exchange (BSE). The students at the Lala Lajpatrai Institute of Management had the privilege of visiting the main Bank along with the World’s Fastest Trading Exchange and gather some practical insights.

The students first reached RBI where they were taken to the convention room on the 25th Floor. The session at RBI started with a short audio visual clipping of the brief history of RBI focussing on how RBI started and then Mrs Aditi Joshi spoke about RBI completing 80 years on 1st April 2016 and how it has brought about innovations and transitions in the total banking scenario in India in these 80 years. Another eminent speaker, MrsAarti Sinha, spoke about RBI’s functions and Monetary Policy formulations. The RBI mainly functions as:

  • Monetary authority
  • Regulator and supervisor of the financial system
  • Manager of foreign exchange
  • Issuer of currency
  • Developmental role
  • Banker to the Government
  • Merchant Banking functions.

Mrs. Sinha spoke about the various direct instruments like CRR, SLR and indirect instruments like Repo and reverse Repo along with open market operations and Bank rate. She concluded her presentation speaking about the projected growth rate for 2016-17 being 7.6%.
MrsGeeta, Manager at Issues Department (RBI) enlightened the students about the interesting journey of paper to currency and reverse journey of bank notes to disposal. She basically addressed three main questions:

  • How currency is bought into circulation?
  • How the currency goes back?
  • How Department of Currency Management functions?

It was an interesting presentation as the students got to know some interesting facts about the bank notes and coins which they were not aware of.

The final presentation was delivered by Mr Bhattacharya, Assistant General Manager, Financial Inclusions (RBI). He spoke extensively about financial inclusions and focussed more on Financial Literacy. He also mentioned how the whole financial inclusion scheme was slowly gaining momentum because of aid of technology.

The whole session at RBI ended with an interactive question and answer round where the eminent speakers addressed the students’ doubts followed by a visit to the monetary museum.

Post lunch, the students gathered at The Bombay Stock Exchange where again they were taken to the convention centre. Mr Aditya Srinivas, Chief Operating Officer and Chief Economist at The Bombay Stock Exchange Brokers Forum, addressed the students and gave interesting  insights on the working of stock exchange, live trading and markets. He concluded by answering each and every question and queries raised by the students.

The whole field visit was surely a value addition to each and every student who was a part of this visit.              

Topic: Industrial Visit to Ceat
Venue: CEAT, Subhash Nagar Rd, Industrial Area, Bhandup East, Mumbai - 400078.
Date   :  29TH JANUARY 2016
Time  :9.00 am to 4.00 pm

MMS Students of 1st year HR and Operations with one Faculty Member - Dr. Arati Kale went for an Industrial Visit to The CEAT Tyres, Bhandup Plant on 29-01-16 in order to receive some much needed industrial exposure. CEAT Members in-Charge of Production and Security received us at The Entrance and showed us the way ahead. The Managers, Production and HR interacted with the students giving them insights not only into the company’s manufacturing and production units but also into the various functional areas that make CEAT one of the most desirable tyre brands in a large part of Asia. The rock-hard HR Department was a clear evidence of high levels of employee satisfaction and smooth work culture. The students were also taken to the shop floor and the main production unit. The following points were the major take-aways from this visit:

  1. A strong HR is a pre requisite for a successful organization. Three of the six pointer Key Performance Indicators (KPIs) of CEAT are directed towards HR, a practice that lifted the plant from a loss making, high employee turnover unit 5 years ago to a prosperous and profit making organization, today.
  2. Permanent labour backed by a strong contractual workforce minimizes possibilities of breakdowns and vouches maximized productivity at lower costs. The contract workers are paid wages as low as one fourth of that paid to permanent labour.
  3. 'People are your biggest asset and play a pivotal role in the growth of any business'. CEAT boasts of an average employee age of an impressive 30 years, resulting in easy acceptability of highly automated plants replacing the earlier manual ones.
  4. Environmental and legal compliance paired with proper CSR initiatives specially directed towards the local residents residing in close vicinity are a must for the long term survival of any business unit; especially the likes of a tyre manufacturing plant that inadvertently releases certain level of pollution into the environment.
  5. Finally, it is important to make sure that every single worker as well as employee is working towards the achievement of the common pre-defined vision of the specific unit (Beautifully defined by CEAT, Bhandup), apart from being assured of personal growth and development.

It was an Informative, Interesting and a Successful Visit. The Officials who explained the functioning of various departments was very elaborate and grasped well by the students.  Lot many questions from the students was well explained and answered by the officials.  The students took back home some interesting tips which would help them whilst working in corporates.