BT Banking Summit and BT-KPMG Best Bank Awards The much-awaited BT Banking & Economy Summit and the BT-KPMG Best Bank Awards will start-off at 11:30 am at St Regis, Mumbai. The who’s who of the banking industry and experts on everything finance and economy will be in attendance. Union Minister Nitin Gadkari, RBI Governor Shaktikanta Das, economy and finance doyen KV Kamath will be in attendance along with some of the biggest names in the space.
The event will have a combination of panel discussions and fireside chats with industry leaders on the shape of the economy and how banking, digitisation, and sustainable finances can help the country achieve its targets.
At the end of the summit, the BT-KPMG Best Bank Awards will be handed out, including five quantitative and eight jury awards. The awards will be given away by Nitin Gadkari, Bhagwat Kishanrao Karad, and KV Kamath.
Follow the live updates on the BT Banking Summit here:
NBFCs have clearly identified the customer segments they want to work with, and have come up with products to suit their needs. Each of the NBFCs there are different players doing different things and specialised in whatever they do: Ramesh Iyer
Ramesh Iyer, Vice-Chairman & Managing Director, Mahindra Finance, Avinash Gupta, MD, Dun & Bradstreet, Manish Shah, MD & CEO, Godrej Capital are in conversation with Sourav Majumdar.
The way automation and innovation is taking place, in 5-10 years we will be seeing a very different kind of financial services, says Purwar
The fintechs are coming with really different type of propositions. There are B2B and B2C kinds of fintechs. Fintech is really bringing the added advantage to bring in special kinds of customers, says Sanjay Doshi. Their business model is something they must work on, he said.
Banking is not just payments, it is much more. Omnichannel is something that is creating a lot of changes in the global space. Customers demand everything. But millennials are moving into their 30s and eventually they will become the core customers: Pralay Mondal
After Jamtara, many mini Jamtaras have taken place, says AP Hota
All steps are taken but people are people, they share passwords. Which bank has not put measures to protect passwords? There are many fraud management tools in place, says AP Hota. We have lot of measures in place but the percentage is less than in other countries, he said.
Service is important but trust is key when it comes to fintech, says Sanjay Doshi.
UPI is not just a payment system. It has triggered all adjacent payments systems, said AP Hota. UPI has made life easier. Without fintechs it would not have happened, he added.
India has the best retail payments system. Everyone agrees, some with a little reluctance: AP Hota
Now we can't think of banking without technology, says A.K. Purwar. He said that it has not eaten up jobs but led to different jobs.
Pralay Mondal, MD & CEO, CSB Bank, S Krishnan, MD & CEO, TamilNad Mercantile Bank, A.K. Purwar, Chairman, IIFL Finance and Former Chairman, SBI, A.P. Hota, Independent Director, Federal Bank and Former MD & CEO, NPCI, Anirban Mukherjee, CEO, PayU, Sanjay Doshi, Partner, Head – Financial Services Advisory, KPMG in India are in conversation with Aayush Ailawadi.
Wanted to attract the younger generation. The perception was that SBI was not tech savvy and the millennials do not bank with SBI, said Rajnish Kumar on how the YONO app was designed to bring in younger people.
Rajnish Kumar says the frontend of the banking mobile apps are being looked at first in order to make it convenient for customers, unlike earlier when the core was formed first.
Besides penetration of technology, there is the need to make customers aware of cyber security and protection.Governance policies need to be created around it, says Sunil Mehta.
With technology we can bridge the gap between a large and small bank today, says Murali Ramakrishnan. If you are clued in, you can pretty much leverage any of the capabilities, he adds.
Whatever you want to do, mobile is the solution. Banks, fintechs and NBFCs are doing a lot of similar things but not everything is common between them. There was a time when regulatory arbitrage between NBFCs, fintechs and banks. No one can beat the banks when it comes to trust. NBFCs have done a wonderful job in providing loans that legacy lenders don't do. Fintechs can't gather liabilities, but play a very critical role in last mile connectivity through digital. They will also do something for 25 per cent less than what banks would do for. India is a big country and these three can co-exist: Rajnish Kumar
Rajnish Kumar, Chairman, BharatPe and Former Chairman, SBI, R. Subramaniakumar, MD & CEO, RBL Bank, Murali Ramakrishnan, MD & CEO, South Indian Bank, Sunil Mehta, Chief Executive, IBA in conversation with Sourav Majumdar.
We are in a sweet spot now due to the fiscal prudence the government displayed during the period of COVID pandemic: Bhattacharya
This Budget will test the dexterity of the policy maker, because we are entering a slow growth phase, says Joshi.
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