My friends, colleagues and well-wishers, in banks, industries and academia, and the top and senior executives of banks and industries, participating in my Management Development Programmes (MDPs), and the PGP students at the Indian Institute of Management, Lucknow, have been persuading me, to venture into writing a comprehensive book on ‘Financial Management’, in the Indian context and conditions, citing suitable illustrative live cases and examples, drawn from Indian experiences. They were, perhaps, thinking that, with my vast and varied experience as a professional banker with the State Bank of India for around three decades, in several senior positions, I may be able to do full justice to the subject.
In fact, their such a high opinion of, and expectation from me, had been more a deterrent, rather than a facilitating factor, in my daring to take up such a demanding endeavour on my part. Besides, my varied experience and widespread knowledge in the area had made me feel that the task was rather too stupendous, difficult and demanding, even to make a humble beginning in this direction. But then, it took me long precious time to realise that howsoever long and difficult a journey may be, it can be completed only after taking the first step; that is, when a small beginning is made. Thus, the hard and hefty, concerted and concentrated efforts, made in the right direction, and in right earnest, have made it possible for me to place the book, my humble work, before you. A book, like one’s own baby, is invariably the most beloved and beautiful one to its author. But then, the real judges are, definitely and decidedly, the readers themselves. And, if they would think that the book has presented the difficult and dull subject like ‘Financial Management’ in a quite easy-to-understand, interesting and entertaining manner, I would think that my sincere endeavour was worth the effort. And, if the readers,
the students (of B.Com. and M.Com., MBA and PGP, degrees and diplomas), the Chartered Accountants, the professional and practising bankers and industrialists, experience that, while reading the book, they tend to feel as if the author had personally been talking to them, instead, on a one-to-one basis, I would sincerely thank them all, and think that my sincere and strenuous efforts have been amply rewarded. I sincerely feel that even the practising professionals of commercial banks and industries may find the book quite relevant for reference and refreshing purposes.
A summary, containing the essence of each Chapter at its end, may be found very useful and handy for the students at the time of their examination. Even the Professors, teaching the subject, may find the synopsis immensely useful for preparing the required transparencies or slides on Power-Point Software, for use in their lecture sessions. I earnestly solicit valuable suggestions from my worthy readers, for bringing in further improvements in the next edition of the book.