IIM Ranchi inaugurated a two-day Management Development Programme (MDP) on Finance for Non-Finance Executives for the Executives of Central Mine Planning and Design Institute (CMPDI). The programme is designed to strengthen financial awareness among technical and operational professionals and to enable informed, value-driven decision-making.

The inauguration ceremony was graced by Prof. Amit Sachan, Dean - Executive Education & Consulting (EEC); Prof. Manish Bansal, Programme Director and Chairperson - EEC; and Dr. Shishir Dutta, General Manager (HRD & CSR), Coal India Limited.

Welcoming the participants, Prof. Manish Bansal highlighted that the programme has been specially curated for CMPDI executives working across mining, geology, drilling, survey, laboratories, CSR, environment, and RI units. He emphasised the need to connect day-to-day technical and operational activities with financial outcomes reflected in profit and loss statements, balance sheets, and cash flows. Over the two days, the programme will cover fundamentals of financial statements and ratios, cost drivers in field operations, budgeting in a PSU environment, capital investment decisions using tools such as NPV, IRR, and payback, project feasibility and risk analysis, ESG and sustainability considerations, and working capital management. Prof. Bansal also contextualised the discussions within recent developments in the coal sector, underscoring how operational excellence and financial discipline together influence organisational value, transparency, and investor confidence.

Following this, the traditional lamp lighting ceremony and Saraswati Vandana marked the formal commencement of the programme.

Addressing the gathering, Prof. Amit Sachan extended a warm welcome to the CMPDI executives and appreciated their commitment to continuous learning. He noted that while organisations like CMPDI are driven by technical expertise and project execution, every operational decision carries significant financial implications. The objective of the programme, he stated, is to make participants financially informed decision-makers by linking finance concepts directly to CMPDI-specific operational contexts. He encouraged active participation, experience sharing, and collaborative learning to maximise the programme’s impact, while reiterating IIM Ranchi’s commitment to strengthening its association with CMPDI.

In his address, Dr. Shishir Dutta underscored that operational activities and financial outcomes are deeply interconnected, both at organisational and individual levels. He highlighted CMPDI’s strategic importance as the backbone of India’s coal sector and emphasised the need to continuously enhance capabilities in an increasingly competitive and dynamic environment. Referring to evolving industry dynamics, technological advancements, and the growing importance of project reports and financial prudence, he urged participants to actively engage with the sessions and apply financial perspectives to technical decision-making. He expressed confidence that the programme would contribute meaningfully to strengthening CMPDI’s long-term competitiveness and value creation.

The inauguration concluded with a group photograph, marking the beginning of an intensive and practical learning engagement aimed at building financially aware technical leaders in the mining and consultancy sector.