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ICICI Bank Beat The Curve National Winner IIM Shillong's Raghav Agarwal's Story

Raghav Agarwal - IIM Shillong
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ICICI Bank Beat The Curve National Winner IIM Shillong's Raghav Agarwal's Story
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It was our dream in the first year to win a Corporate Competition together. 2 years of chasing the dream and to finally have your name called out on the big stage! That too in the second last month of our MBA! It felt like a person lost in the desert finally reaches a lake in the middle of nowhere and can lay in water all day! You get it, right? The feeling was a mix of euphoria and contentment. ICICI Bank Beat The Curve offered us the opportunity to work on real-life challenges on financial inclusion in the rural sector.

The solution required by ICICI focussed on the overall development and growth of villages along with revenue augmentation opportunities for ICICI. It inspired us to work even harder for a very practical solution.

The competition required us to travel to ICICI’s digital villages to understand the current scenario before working on recommendations. Although they didn't provide us the problem statement before the visit but keeping in mind the visit, we tried to anticipate the direction of the problem so that we could prepare ourselves beforehand.

We worked on a detailed primary survey questionnaire and spent considerable time researching various rural financing solutions so that we could study their feasibility on-ground. We started working on secondary research one week before the visit. And we were able to complete the solution 5 days after our visit by clocking 10 hours daily. Our stint with all corporate competitions has taught us one very crucial thing, always define your timelines and stick to them!

The most challenging part of the exercise was to understand how the economy works in a typical village, to what extent the current systems of ICICI were addressing the existing problems and how the concept of a cashless economy can be sold to a consumer who has only recently put his faith in the formal banking system.

Having worked with my teammate Amit in various other competitions, we were well aware of each other’s strengths and weaknesses. We were usually able to avoid any kind of conflicts and in case a conflict arose, we spent a lot of time discussing the contentious issue over dinner or during our free time to better understand each other’s perspective.

My teammate’s ability to approach any problem in a well-planned manner helped us a lot. We had a clear schedule and knew very well how to go about building our solution. Our focus on continuous discussions on our solutions to improve them over and over again was our biggest forte.

The finale of ICICI Bank Beat the Curve saw a total of 6 teams competing with each other. The second Runners Up of the event, the team from NMIMS Mumbai, presented an extremely innovative and feasible solution. Their solution was scalable and practical and in our opinion, was one of the finest.

The event was extremely well planned and coordinated by the organizers. They scored us on 3 parameters which they communicated well in advance. Also, they strictly adhered to the time limit. Besides, they gave participants the time to test and get comfortable with the equipment. We also got the liberty of using a lectern, handheld mike or collar mike.

The judging panel included the CHRO and head of digital village initiatives. The judging panel awarded 50% of the marks and all the managers present in the audience awarded the rest 50%. This ensured the solutions were judged from multiple perspectives.

The overall experience was unique and enriching. Allowing the teams to visit the village before working on the solution was one of the most exciting parts. It gave us on-ground experience. Moreover, ICICI gave the opportunity to the top 3 teams to attend a workshop on Fintech and Innovation by the University of Management, Singapore. It gives us further opportunity to learn.

The competition presented us with a timely opportunity to understand the revolution in the space of financial inclusion, analytics and fintech in India, especially rural areas. We learned how government agencies and private entities are working towards a sustainable rural ecosystem in India.

Each corporate organized competition is unique in its own way. From structure to judging criteria. Read more about ICICI Bank Beat The Curve and the organizers.
Edited by
Raghav Agarwal - IIM Shillong
(Batch of 2017-19)

Raghav Agarwal, an MBA student from IIM Shillong, a Computer Science engineer; a CFA Level 1; who can write great content. A coder who can write codes and beautiful pieces laden with emotion.

Tags:
MBA B-School ICICI Bank ICICI Bank Beat The Curve IIM Shillong

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