Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

Elets Exclusive: Fintech will emerge as gamechanger during COVID-19 outbreak, says Shiju Rawther A, Infoline Group

Shiju Rawther

The COVID-19 outbreak will change the office-based model and people will no longer rely on geographical planning. Digital will come forward. Fintech, in particular, will play a major role during this crisis. Earlier, Fintech was only considered from the BFSI point of view but now they will be at the forefront. It will be a gamechanger for the Indian Economy, said Shiju Rawther A, EVP – Technology, India, Infoline Group (IIFL Group) during a Live Webinar hosted by Elets Technomedia.

Excerpts of the address:

Advertisementgreylabs

Challenges will definitely hinder the growth of the BFSI sector but this phase of the crisis is temporary. If you see the economy, who will that not just the BFSI sector but all the sectors are badly hit but I believe the blockage is for the time being and not a permanent entity. It is not a recession from an economy point of view rather a halt in the operations due to the virus outbreak. But the phase will definitely report stress and a significant rise in the Non-Performing Assets.

As a positive measure, the Government is pushing a lot of packages for the growth and stability of the economy. And I am sure there will be more packages that will be announced in the coming weeks. This is the phase when we have to be patient and prepare ourselves for the future and gear-up for the next move because after every pause there is a chance of upward growth. In my view, we are going to witness a boom of opportunities and demand when the outbreak will suppress. It is important to use this time at home in re-skilling yourself and start planning future ideas.

Advertisement24th Elets NBFC100 Tech Summit & Awards, Mumbai

It is the time when organisations need to level-up their infrastructure so that they are capable enough in meeting the lending demands when the market opens. Earlier, despite several discussions actual outcome on Business continuity planning (BCP) remained pending but now within hours BCP is working efficiently and organisations are working day-in and day-out from their homes.

AdvertisementInfoComm India 2026

The COVID-19 outbreak will change the office-based model and people will no longer rely on geographical planning. There will be less touch-points. Digital will come forward.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

Fintech, in particular, will play a major role during this crisis. Earlier, Fintech was only considered from the BFSI point of view but now they will be at the forefront. It will be a gamechanger for the Indian Economy.

I believe, the economy will revive within 12-24 months and we all will get back in shape.

Please watch the full Video here:

 

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.

Our Coverage of Article

Beyond Automation: Building the AI-First Financial Institution of 2030

Artificial Intelligence is rapidly becoming one of the most significant forces shaping financial services. What began with the… Read more →

Loan Write-Offs Aren’t Loan Waivers: How Banks Manage Bad Loans While Still Continuing Recovery

Indian banks have written off nearly ₹9.95 lakh crore* in loans extended to large industries and services over… Read more →

The Hidden Personal Finance Bill: Sending Your Child Abroad for College

Every year, thousands of Indian parents make one of the biggest financial commitments of their lives: sending their… Read more →

Cross-Border Payments: The Next Fintech Battleground

India's digital payments revolution has become a global benchmark. UPI has fundamentally transformed how individuals and businesses transact.… Read more →

Banks Might Need to Arm Themselves with a Kill Switch for AI. What Do RBI's Regulatory Principles Mean for Organisations?

Many banks have started delegating an increasing number of operational functions to AI. From assessing credit scores and… Read more →

Fund your business needs during the Loan Utsav and get rewards worth up to Rs. 3,000*

Plan your business funding with a Bajaj Finance Business Loan. Apply online during Loan Utsav and enjoy rewards… Read more →