Justice Ranade was a scholar, historian, economist, social reformer and a thorough patriot who devoted his life for the national cause. His ideas on economy, history, society and national development continue to be relevant even today. Unlike many, he was not only a scholar par excellence, but was equally a man devoted to social and national cause who attempted to use his scholarship and expertise for the betterment of society and nation. We at MFIS draw a lot of inspiration from his works and ideas and the purpose of constituting the memorial lecture is to keep the same zeal and dedication alive. Each year, the Justice Ranade Memorial Lecture is organized on 16th of January – which is the death anniversary of Justice Ranade -as a tribute to exemplary, scholarly and visionary work of Justice Mahadev Govind Ranade.