Chief minister Prithviraj Chavan and higher and technical education minister Rajesh Tope inaugurated the Pravinchandra V Gandhi Chair on Banking and Finance at the University of Mumbai, Convocation Hall, Fort Campus.

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This is the first time that such a Chair has been instituted. Indian Merchants Chamber (IMC) instituted the chair by with the help of an endowment of Rs2 crore.

The Chamber took the initiative to set up the Chair, following a suggestion made by Chavan, which was  welcomed by Dr. Welukar. This Chair would be established at the Jamnalal Bajaj Institute of Management Studies. With this, Mumbai University will now 19 Chairs dedicated to different faculties.

“If special centres like this are started with the philanthropic support; the state will certainly come up with provisions to match the cause and the endowment”, said Chavan.  Tope said, “I urge the Mumbai University to focus on undertaking studies for expanding the banking services to the neglected section of society.”