Centre for Banking and Insurance Laws(CBIL)
Oh East is East & West is West
And never the twain shall meet
Till Earth and Sky meet presently
At God’s great Judgment seat
How wrong is Kipling! Technology has shrunk the World and the World has turned into one big global village. Economic and trade barriers have melted and each country is dependent upon the other for economic reasons. Regulatory laxities in Europe, USA, Japan & Korea etc. are affecting the Indian Banking System and Indian Economy.
Post economic liberalization, India has shaded her socialist aspirations and has accepted market-economy, which has definitely propelled India into economic prosperity. Government has become a facilitator of employment and wealth creation instead of being the major employer. However it comes with its own perils. Large scale corporate frauds have been detected and Government has to step in to bailout Banks/Industries in private sectors. The Global Trust Bank saga is still fresh in one’s memory.
Against the above backdrop, Banking & Insurance Laws play a pivotal role by striking a balance between free entrepreneurship and regulatory control, thereby acting as a catalyst for socio-economic growth in a society.
Accordingly, the UNIVERSITY has proposed to establish a specialized Centre entitled NATIONAL LAW UNIVERSITY ODISSA; CENTRE FOR BANKING AND INSURANCE LAWS [NLUO-CBIL] dedicated for facilitating higher learning, research and allied activities in the said domain of law.
The primary objective of [NLUO-CBIL] is to promote research in the domain of banking and insurance laws in India. Further it will act as a facilitator for intellectual debates on the said domain of law by regularly arranging for Symposiums, Seminars and Workshops on banking and financial laws. The Centre further proposes to publish a quarterly Journal entitled “NATIONAL LAW UNIVERSITY ODISSA; BANKING LAW.”
As stated earlier research in the field of banking and Insurance laws should be the primary objective of the [NLUO-CBIL]. The target group should not be restricted to students alone. Bankers, Professionals in the field of Finance, Law teachers and Advocates should also be encouraged to undertake research in the field of Banking & Financial Laws.
Regular Seminars, Symposiums and Workshops involving Students, Bankers, Advocates, Members of Judiciary and Other related Professionals should be organized to facilitate discussion on contemporary issues relating to the said domain of law.
NLUO will provide physical infrastructure including Library and subscription to peer Journals in the subject matter. Intellectual infrastructure should comprise of existing Faculties of NLUO, Acknowledged Authorities on the subject, Eminent Authors, Advocates, Members of Judiciary and Career Bankers.
At the start, it should be financially supported by NLUO. At future date, a Sponsor may be found to support the endeavour.
The success of every endeavour is dependent upon host of factors like infrastructure viz; physical, intellectual and financial. However in this case, the most important factor is the relevancy of the topics needs to be taken up for research, as any form of intellectual meandering will definitely will ensure the demise of the endeavour. In a competitive market economy, a research should ultimately benefit the end user otherwise it would be difficult to justify the economics involved in the endeavour over a period of time.