Business Standard’s BFSI Insight summit kicks off today

After a two-year break caused by the pandemic Standard business The BFSI Insight Summit is back in physical form, featuring some of the leading voices in the country’s financial sector. The summit will begin on Wednesday with Reserve Bank of India (RBI) Governor Shaktikanta Das and former Sebi Chairman M Damodaran inaugurating the exhibition.

On December 21 and 22, the summit will feature 11 panel discussions on issues affecting various sectors of the Indian financial system.

The RBI governor will share his views at a time when inflation has dipped below 6 per cent for the first time this calendar year, thus within the RBI’s tolerance limit of 2-6 per cent. But the governor has repeatedly reiterated that the fight against inflation is far from over. So the central bank has been waiting to see a sustained decline in inflation. The six-member monetary policy committee (MPC) headed by the governor has raised the benchmark policy rate by 225 basis points since May to tame inflation and bring it into the tolerance band, resulting in higher interest rates on consumer loans. On the other hand, savers breathe a sigh of relief as their bank deposits attract higher interest rates after a long period.

The governor’s comments matter as borrowers and pundits are worried about a future rate hike by the RBI before a break. The repo rate currently stands at 6.25 percent.

Other prominent speakers at the summit include RBI Deputy Governors T Rabi Sankar and M Rajeshwar Rao, Irdai Member Rakesh Joshi, Sebi Member Ashwani Bhatia, One97 Communications Chairman and CEO Vijay Shekhar Sharma and GQuant Founder Shankar Sharma among others.

In the panel discussions, leading figures from the banking, insurance and NBFC sectors will share their views on the major issues of the current era.

The movers and shakers of the banking industry including heads of leading lenders such as Dinesh Kumar Khara of State Bank of India, Sanjiv Chadha of Bank of Baroda, Atul Kumar Goel of Punjab National Bank, Axis Bank Amitabh Chaudhry and Ashu Khullar Citi India among others. others would share their views on the growth of the Indian economy and how the banking sector can play a key role in it.

At a time when the non-banking financial space is going through a period of consolidation, many large entities following the IL&FS crisis, and the merger of HDFC with HDFC Bank, the brass of some of the largest NBFCs will be voicing their opinions. whether they intend to become banks, considering that RBI has virtually eliminated the existing regulatory arbitrage between banks and NBFCs.

The two-day event will also see discussions on how players operating in the payments space can monetize or build a viable business model, with Dilip Asbe, MD and CEO, NPCI, which operates and manages the Unified Payments Interface (UPI), sharing his insights. opinions on the subject.

The discussion will be about new banks on the block, small finance banks and whether they can make it big. Some top economists will debate whether India is decoupled from developed economies, and how likely it is to experience a recession.

Senior insurance executives will share their views on how insurance penetration can be further improved, especially at a time when the insurance regulator is looking to bring ease of doing business to the sector so that companies can realize their full potential and utilisation. their resources better to insure a large part of the country.

CEOs of mutual fund houses will be looking at how to navigate the journey from India to Bharat, while their CIOs give feedback on where to invest in this market.

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