In a remarkable step towards strengthening the fight against financial crimes and economic threats, Rashtriya Raksha University (RRU) and the Institute of Chartered Accountants of India (ICAI) formalized their partnership through the signing of a Memorandum of Understanding (MoU) on 17th April 2025 at RRU’s Lavad, Gandhinagar campus. This landmark agreement marks a significant stride in bringing academicians, practitioners, and policymakers with the national interest.

The ceremony commenced with each of the institute’s special videos- that showcased the culture, aim, and national initiatives of both, RRU and ICAI. These set the tone for a meaningful dialogue on the evolving nexus of finance, security, and governance. Thereafter, RRU Vice Chancellor Prof. (Dr.) Bimal N. Patel, in his address, recalled the words of Smt. Nirmala Sitharaman, Hon’ble Union Finance Minister and Minister of Corporate Affairs, GoI, during her visit to RRU in the fourth convocation held on January 13, 2025, wherein she emphasized the growing need for a tech-savvy force of experts who can prevent and investigate economic and financial crimes to protect India’s digital infrastructure. Supporting the agenda, he elaborated the RRU’s two landmark master programs in Forensic Accounting and Financial Investigations & Master in Financial and Economic Crimes Program, crafted for graduates and working professionals, respectively, to investigate and curb the various financial and economic crimes. He proposed an extended invitation for the ICAI to run Intelligence Tracking Projects as an initiative to curb Money Laundering and Terrorist Financing Crimes in RRU’s partnered countries. A collaborative effort with the ICAI to increase financial literacy and awareness among the soldiers of the defence forces. Prof. Patel also sensitized the audience about the opportunities and engagements under the Memorandum through RRU’s close professional relationship with the national security and intelligence bodies- CBI, ED, R&AW, and FIU (IND), which will prove instrumental in fighting financial crimes and enhancing national security. He added that RRU’s landmark AI, OSINT, and Forensic state-of-the-art Laboratories are of global standard. RRU’s global collaboration with law enforcement agencies from over 80+ countries.

During the address of CA. Charanjot Singh Nanda, President of ICAI echoed the spirit of collaboration. He underscored that ICAI is the pioneer and only Accounting Body across the globe to issue Forensic Accounting and Investigation Standards. Sharing ICAI’s vision, he emphasized its global collaboration with over 85+ countries and 11 Indian universities; institutes efforts towards Artificial Intelligence (AI), financial and investor literacy program under FTL and IEPF that has benefitted over 30k members of the ICAI, etc. CA. Nanda also highlighted that the globe is looking towards India in the rising impact of Artificial Intelligence to address the challenges of financial investigations and commended RRU’s forward-looking contribution in this emerging domain.

The ceremony was held in the gracious presence of CA. Dayaniwas Sharma, Chairman of the Digital Accounting and Assurance Board, ICAI, and Dr. Mahesh A. Tripathi, Director (I/c), School of Behavioural Sciences and Forensic Investigations (SBSFI), both reiterated the potential of this MoU to produce transformative outcomes in the areas of training, capacity building, and policy research. Followed by the signing of the Memorandum, the ceremony concluded on a positive and hopeful note with several national-scale collaborations between the ICAI and RRU- in line with their shared objective of National Financial Integrity and National Security, above all.

 

AP/IJ/GP/JT

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