Understanding the world of finance, financial institutions, their obligations and accountability
What: A 3 day workshop on finance and financial institutions – national and International.
- Who: For young activists (below 35) struggling against / monitoring rural or urban projects – working in people’s movements or urban based organisations.
- Why: To enhance the capacity to monitor and bring in accountability to the ones financing projects.
- When: August 23-25 2013
- Where: Sambhaavnaa, Village Kandbari, Tehsil Palampur, District Kangra, Himachal Pradesh – 176061 http://www.sambhaavnaa.org/
In the era of proliferation of power projects, dams, roads, urban projects and industrial zones/corridors, and other mega projects, people across the country continue to struggle to protect their livelihood, natural resources and their lives and against the attempts of the State-corporate nexus in usurping their resources, driving them to destitution. Their strategies included direct action, confronting the state and corporations and their brutality, legal actions and legislative advocacy which in many cases have resulted in delaying or modifying the project, or in some cases scrapping them.
As we all know one the key components of any project is the project finance. However our monitoring of the institutions /banks which finance these projects is weak and attempts to make them transparent and accountable almost negligible. Consider this: World Bank, Asian Development Bank and OECD countries alone have invested over Rs. 2.5 lakh crore in India in the last 5 years. While some part of this would be on policy work (which will also have huge impacts on projects) majority of them are direct project lending.
While the lending of international financial institutions have far fetching impacts on our economy, the quantum of money invested in the market each year by Indian banks and financial institutions are many folds more. Life Insurance Corporation is planning to invest Rs 2.25 lakh crore in 2013. In 2012 it was Rs. 1.90 lakh crore. State Bank of India invested Rs. 3.1 lakh crores in 2012 while in 2011 it was Rs. 2.9 lakh crore. Investments of Punjab National Banks has been Rs. 1.20 lakh crores in 2012 and Rs. 95,000 crores in 2011.
All these money are invested in projects small and big, state run or privately owned. National banks having no safeguard policies are not bound to carry any independent due diligence process while investing in any project, however destructive that could be. Nor are they made accountable in financing any project which has caused immense miseries to people.
Struggles against Sardar Sarovar (Narmada) and Maheshwar dams are examples of two successful examples of targeting financiers.
The workshop will help activists – both rural and urban based – to monitor the financial institutions and make them accountable. Apart from an introduction to the world of finance, the workshop will help the participants with tools to monitor them, introduce existing policies and accountability mechanisms, and help each participants to strategize work on finances for projects against which she/her organisation is struggling against/monitoring. The medium of instruction would be in both English and Hindi.
The workshop is open for 20 people. Half of them would be from people’s movements and half from support organisations. Each participant should pay a fee of Rs. 3000 for boarding and lodging and resources materials. The fees should be paid in advance through a Demand Draft drawn in favour of Bank Information Center Trust by August 10. Address to send the DD: Bank Information Center Trust, c/o 33 D, Third Floor, Vijay Mandal Enclave, DDA SFS Flats, Kalu Sarai, New Delhi – 110016. Participants should bear the travel expenses themselves. Financial assistance is available for a few deserving candidates.
Those interested may send application in the following format to BICTrustIndia@gmail.com before August 10:
Workshop on Finance: Application Form
Tel: home…………………………….. Mobile………………..
Age / Date of Birth:
Comfort level of English: (proficient / can understand / not comfortable):
Details about Organisation
Name of organisation:
Head of the organisation / Key activist of struggle:
Applicant’s designation / nature of work:
What does the organisation do? (50-60 words)
Do you monitor / struggle against any particular project? If yes, give name and brief details (50-60 words)
Why do you want to attend this workshop? (100 words)
Do you require financial assistance? If so, please explain.
Do you prefer resource materials in English or Hindi?
Further details of the workshop will be communicated to the applicants later.
In case of any more information, please contact:
Sambhaavnaa | Programme for Social Action | Delhi Forum | Bank Information Center Trust
South Asia Coordinator | Bank Information Center
Post Box No 4659, New Delhi – 110016
+91.9871153775 | jathialy [@] bicusa.org | http://www.bicusa.org
Skype: joeathialy | Twitter: joeathialy