ROLE OF FINANCE IN INDIAN RAILWAYS

1
ROLE OF FINANCE IN INDIAN RAILWAYS

• Presented
• By
• Mrs. P.Babbar
• Adviser/AR
• Railway Board

2
HISTORICAL PERSPECTIVE

• Evolution
• Separation of Railway Finance.
• Different from others
• Pre-vetting Post Audit
• IRAS
• Pre-vetting.
• Participative in corporate decision making.
• Integrated Finance.

3
Challenges of Integrated Finance.1

• Domain Knowledge

Railway Basics
Changing Dynamics Updation Equipping
Ourselves (Training) Familiarizing ourselves with
available systems e.g. IT, costing methods etc.
Corporate Function, Money market, Risk
management, Valuations etc.
4
Challenges of Integrated Finance.2

• Awareness of latest business models
• PPP, JVs, SPVs etc.
• Understanding enables one to customize to Railway
  needs/Railway specific format.
• Confidence to deal with other organizations e.g.
  Planning Commission, Finance Ministry , Audit,
  Parliament etc.
• Need to see the larger picture
• Corporate objectives vis-à-vis sectional working.
• Aberration of liberalization tools.
• Awareness of limitations.

5
Changes required1

• Attitudinal issues
• Softer options personal needs
• Expectations
• Individual Organisational
• vis-à-vis vis-à-vis
• Individual Individual
• Appraisal- discerning abilities should be
  reflected in appraisal.

6
Changes required2

• Developing Competence
• Rotation in job profiles.
• Training/Deputations.
• Developing conviction and commitment.
• Taking responsibility.
• Developing credibility.
• Communication channels
• Self imposed constraints
• Creating hypothetical situations.

7
Thank You