Setting up of the C.T. Venugopal Chair on ‘Strategic Finance, Research and Policy Development’ was part of the Budget Announcement for 2016-17. The chair will be set up at NAIR and subsequently shift it to the Finance Faculty of National Rail University coming up at Vadodara.
The Chair is being named after Shri C T Venugopal, who was the first officer to be recruited to the Indian Railways Accounts Service. He was also responsible for division of railway assets between India and Pakistan.
This Chair would focus and promote research on issues of emerging financial challenges and opportunities for Railways in India in particular and transport sector in general.
The Chair Professor would collaborate with Indian Railways, and all its stakeholders for joint research activities and policy issues like financial planning & forecasting ,strategic financing, strategic planning & capital management.
It will also be the think-tank in the area of Alternative Finance, drawing expertise and inputs from various financial experts from other sectors like Government and other National / International organizations.
The Chair will be filled up through open advertisement and due selection process. The duration of Chair will be initially for three years extendable by another two years.
Since Indian Railways is providing the corpus for the Chair, for Indian Railways shall hold first rights for IPR in respect of any design concepts, new financial product or processed design produced as an outcome of this MOU.