Mr C S Setty, Chairman, SBI: Investments in digital transformation technology should be geared towards ensuring that an end-to-end experience or process is being created which will result in operational efficiencies
FinTech BizNews Service
Mumbai, September 5, 2024: Addressing the flagship event of FICCI and IBA - ‘FIBAC 2024’, Dr Anish Shah, President, FICCI today said, “To achieve a Viksit Bharat and reach a $30 trillion economy by 2047, the manufacturing sector needs to grow 16 times in the next 23 years. The digital tools that India has set up are essential to get there.”
Mr MV Rao, Chairman, IBA and MD & CEO, Central Bank of India said, “Our priority should be to build an environment where financial services are efficiently accessible to the 1.4 billion people, from mobile banking to payments.”
Mr Ruchin Goyal, MD & Senior Partner, BCG said, “There are five important structural themes for continued success of the Indian banking sector which include Deposits, Asset Quality, Productivity, Digital Maturity & Future Capabilities.”
Other Quotable quotes:
Investments in digital transformation technology should be geared towards ensuring that an end-to-end experience or process is being created which will result in operational efficiencies: Mr C S Setty, Chairman, SBI at FIBAC2024
Multiple things can be done to supplement rupee resources. Relooking at withholding tax incidence, permitting INVITS & REITS to borrow in dollars, shortening the duration of refinancing could be some options: Ms Zarin Daruwala, Cluster CEO, Standard Chartered Bank at #FIBAC2024
Most important thing is to have a good technology stack which is the real powerhouse. This is important to ensure that the experience layer is exceptional: Mr V Vaidyanathan, MD & CEO, IDFC FIRST Bank at FIBAC2024.
Resiliency in technology, human resources, and regulatory compliance will be three important areas for banks to improve their strength in financial ecosystem: Mr Hitendra Dave, CEO, HSBC, at FIBAC2024.
Banks can no longer take deposits for granted. They need to put more effort in product design, sales and outreach; Mr Ashwini Kumar Tewari, MD (Corporate Banking and Subsidiaries), SBI at FIBAC2024.
The way households are saving their money is witnessing a change. However, this trend is transient in nature and not structural: Mr Debadatta Chand, MD & CEO, Bank of Baroda, at FIBAC2024.
There are cultural shifts that are underway - the earlier culture of security is slowly moving to a culture of securitization: Mr M V Rao, Chairman, IBA, & MD & CEO, Central Bank of India at #FIBAC2024
To achieve the goal of Viksit Bharat will require adequate financing and with banking being the dominating player in the financial eco-system, it has significant role to play in realizing the goal: Ms Jyoti Vij, Director General, FICCI at #FIBAC2024
RBI is more than just a regulator—it is an innovator. From NPCI in past to the latest Unified Lending Interface, RBI's visionary initiatives are enhancing customer delivery service and transforming India's financial landscape: Mr Sunil Mehta, Chief Executive, IBA at #FIBAC2024
