Indian Banking Sector Embracing Technology for Growth

Ravi Gupta

Keeping in mind the goal of Financial Inclusion, the Indian banking sector is gradually building capacity through technology under the ambitious ‘Digital India’ initiative. The foundation of this capacity building, however, can be strengthened by enhancing the technology scaling and getting more and more people into digital transactions.

Our cover story, ‘Tech-driven Indian Banking Industry — Aiming For Zenith’, analyses the Indian banking sector’s ongoing technology-based journey. The story not only revisits the past, but also delves into the future by trying to capture the perspective on future of leading minds in the industry.

The latest issue of The Banking and Finance Post also carries a case study on India Post, ‘Serving the Common Man’, which analysis this deep-rooted institution’s transformation and emergence as a banking option for the common man.

In May, Elets organised the Digital Banking & Payments Conclave in Mumbai. The conclave served as a unique platform to explore and discuss various practices and initiatives introduced by the Banking, Financial Services and Insurance (BFSI) segment for promoting the usage of digital payments in India. It focussed on the country’s endeavour to transform itself into a cashless economy.

The conclave was a gathering of esteemed experts from institutions like National Payments Corporation of India, Unique Identification Authority of India (UIDAI), National Bank for Agriculture and Rural Development (NABARD), Ministry of Finance, public and private sector banks, payments banks, etc. The magazine carries a report highlighting the insights from the brightest minds in the industry to trace the future trajectory of the BFSI sector in the country.

In the month of October, Elets plans to organise FinServ Tech Summit in Mumbai to provide an exclusive platform for NBFCs, insurance companies and cooperatives to discuss and deliberate on how digitalisation is serving as the game-changer and which best practices would help them to accomplish their targets by improving efficiency.

Looking forward to our readers’ invaluable feedback.

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