“Performance of the BFSI sector is the barometer of the economy”- Deputy Governor, RBI, SS Mundra at ET BFSI Leadership Exchange Summit 2017

Mumbai, june 28, 2017: The Economic Times BFSI Leadership Exchange Summit 2017 held at The Leela, Mumbai, saw luminaries from the banking, financial services and insurance sector from India, UAE and Middle East discussing various aspects to bring in a paradigm shift in the way the BFSI sector will function in the future. The summit came into being to create a platform for global leaders to increase opportunities within the banking, financial services and insurance sector.

The summit commenced with a panel discussion on the talent continuum; integrating HR with business strategies, which helped in understanding some recruitment and talent retention needs. Next session on decoding the omnichannel world and empowering the digital transformation discussed the specific needs of the BFSI sector in terms of omnichannel marketing and digital routes for practical solutions that can be made possible in this industry.

The BFSI legends threw light on the trends in BFSI for the year 2017. The trendsetting leaders shared their views on the future of traditional banks and fintech, reinventing leadership norms to stay relevant and trends for the BFSI marketplace. There was a rich knowledge exchange between the BFSI leaders of today and tomorrow.

Setting the tone for the evening, Mr. Deepak Lamba, President – Times Strategic Solutions, said, “The BFSI summit is a precious initiative to all of us at The Economic Times. It’s a platform where global leaders can converge on common grounds of multiplying opportunities in the BFSI sector globally. The advisory board that comprises of top notch and seasoned leaders from the BFSI sector helped us creating a compelling platform for BFSI experts to debate on what is that one common binding factor which influences the entire gamut of activities is the financial sector. Planning and passing the mandate of BFSI institutions emerged as the most relevant theme. We are grateful to the BFSI legends who have gathered here today for the larger good of the financial community.”

The summit also discussed threats and challenges related to the BFSI sector- both digitally and physically, the modern technologies involved in securing networks and ensuring physical and digital safety to financial institutions and data, thus leaving behind the scope for further developments in this sector. Apart from digitization, the forum also focussed on other crucial elements, such as job creation, financial inclusion and green finance that would provide necessary thrust to the economy and consequently to the Indian BFSI sector.

Advising lenders to be mindful on green finance, SS Mundra, Deputy Governor said,“Banks would need to be increasingly sensitive in their lending to industries that might create a bigger carbon footprint, to the extent of bearing further exposure and reducing current exposure to these companies.”

“The World Bank has said in a report that the proportion of jobs threatened in the country due to automation over the next few years at 69 percent,” he warned.

Corporate Comm India(CCI Newswire)