CNBC-TV18, in collaboration with Nucleus Software, successfully hosted the second edition of the ‘Banking Transformation Summit’ on Friday, bringing together key figures from the banking sector, policymakers, and financial experts. The event focused on the theme, ‘Bharat’s Banking Roadmap For The Future,’ highlighting the significant role of financial institutions in driving India’s economic progress.
J. Swaminathan, Deputy Governor of the Reserve Bank of India (RBI), delivered the keynote address on ‘Transforming Financial Landscapes: Building Resilience for Economic Stability.’ He discussed the surge in credit demand driven by digital lending and underscored the challenges posed by the widening credit-deposit gap. Swaminathan urged lenders to address this gap to ensure financial stability.
Dinesh Kumar Khara, Chairperson of the State Bank of India, participated in a fireside chat, followed by a panel discussion titled ‘Filling the Credit Gap to Fuel Economic Growth.’ He was joined by A.K. Tewari, Managing Director of SBI; Prashant Kumar, Managing Director & CEO of Yes Bank; and Ashok Vaswani, Managing Director & CEO of Kotak Mahindra Bank. The discussion focused on strategies to bridge the credit gap, which is vital for sustaining economic growth.
V. Anantha Nageswaran, Chief Economic Advisor to the Indian Government, emphasized the importance of balancing portfolios between financial and real assets, alongside improving financial literacy. He highlighted the need for growth in employment, income, and savings as essential components for expanding the financial sector. Nageswaran also stressed the importance of promoting insurance alongside banking to enhance financial inclusion.
Vishnu R. Dusad, Managing Director & Co-founder of Nucleus Software, addressed the importance of data protection in banking. He stressed that with the implementation of the new Data Protection Act, financial institutions must reassess their data management practices to build trust among customers.
Shereen Bhan, Managing Editor of CNBC-TV18, expressed satisfaction with the summit’s focus on pivotal sectors contributing to India’s economic growth. She noted that the event facilitated meaningful discussions on creating a more resilient and dynamic banking system.
The summit concluded with CNBC-TV18 honoring Dinesh Kumar Khara and Shyam Srinivasan for their enduring contributions to the banking sector, marking a special moment in the event.
Summary:
1. CNBC-TV18 hosted the second ‘Banking Transformation Summit,’ focusing on India’s future banking roadmap.
2. Key discussions included addressing the credit-deposit gap and the importance of financial literacy and inclusion.
3. The event concluded with special recognition for notable contributions to the banking industry.