The stock market sentiment improved in 2012, but making money was not easy. Every aspect of the country’s finances, be it fiscal deficit, interest rates, inflation, credit off-take or currency value, involved challenges. Despite these, numerous institutions and individuals did exceptional work to ensure the financial well-being of investors.
　　The Money Today FPCIL Awards 2012 honoured those who for years have been extending their expertise in the personal finance space to investors and acted as torch-bearers through the turbulence of 2012. The awards have been instituted by Money Today and the Financial Planning Corporation (India) Pvt Ltd(FPCIL), established by the Financial Planning Standards Board India. The awards have been powered by Certified Financial Planner Certification, a global mark of excellence in financial planning. BDO India, the Indian member-firm of the world’s fifthlargest accountancy network, BDO International, is the knowledge partner for the awards.
　　“This is a very proud moment for us at it is the first time these awards have been instituted with the aim of awarding organisations and individuals across sectors who have excelled in their respective fields,” said Chaitanya Kalbag, Editor, MONEY TODAY, in his welcome speech.
　　Ranjeet Mudholkar, managing director of FPCIL, said organisations and individuals who worked relentlessly to provide the right products and services to consumers, enabling them to actualise their financial goals, deserved to be recognised.
　　The awards recognise the importance of ethical practices and cover the entire spectrum of financial services, including asset management companies, banks, capital and financial market service providers, insurance companies and financial planners (both institutional and individual).
　　“We hope the awards set a new benchmark in the years going forward that will encourage healthy competition along with enhanced innovation and imagination to get better understanding of what makes our money work for us,” said Kalbag.
　　 DISTINGUISHED JURY PANEL
　　The awards follow the highest standards of examination, investigation and probity. The awards were ratified by a jury of seven eminent members after rigorous examination.“The jury is the most distinguished panel that you can assemble in the country,” said Kalbag.
　　The jury chairman, Dhirendra Swarup, is the mem- ber-convenor of the Financial Sector Legislative Reforms Commission. He was earlier chairman of the Pension Fund Regulatory and Development Authority. GN Bajpai, a member, is a distinguished business leader and former chairman of the Securities and Exchange Board of India and Life Insurance Corporation of India. BD Narang, former chairman and managing director of Oriental Bank of Commerce, is widely known in the banking circles. The panel also included MV Nair, chairman of the Credit Information Bureau (India) Ltd, known as CIBIL. Prior to this, he was chairman and managing director of Union Bank of India and Dena Bank and chairman of the Indian Banks’ Association. Another jury panelist was Naresh Takkar, the managing director and CEO of ICRA, who led ICRA’s teams to develop analytical criteria for various sectors, including bank- ing, project finance and structured finance. Ranjeet S Mudholkar, another jury member, is vice chairman and CEO of the Financial Planning Standards Board India(FPSB India). Shailesh Haribhakti is a fellow chartered accountant and chairman of BDO Consulting.

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