Technology-Driven NBFCs Enabling Inclusive Growth

Ravi gupta
Dr Ravi Gupta
Dr Ravi Gupta

The banking and finance sector in India has been experiencing enormous expansion in alignment with the technological advancements. Taking this growth to the next level, several new segments are coming into prominence, promising inclusive growth of the society.

Filling the gaps left by the public sector banks and large private banks in serving the underserved, Non-Banking Financial Companies (NBFCs), Small Finance Banks, Payments Banks, etc, are stepping up their game to meet new demands of customers with diverse credit offerings and transactional feasibilities.

In the light of this changing landscape, our cover story – ‘Non-Banking Financial Companies: Scripting Dawn of New Age Banking’ – analyses the significance, challenges and the way forward for the NBFCs. The story touches upon various aspects concerning the revamping of the banking sector and the significant role to be played by NBFCs in effecting that change.

The latest issue of The Banking & Finance Post also carries an analysis, written jointly by Ashwini Kumar, Additional Economic Adviser, Ministry of Housing & Urban Affairs, Government of India and Reema Jain, Assistant Director, Ministry of Housing & Urban Affairs, Government of India, highlighting the role municipal bonds can play in financing some of the big urban infrastructure projects.

In July this year, Elets Technomedia organised the 2nd BFSI CTO Summit in Mumbai. The summit highlighted the growing interface of technology in the banking sector.

It saw the esteemed presence of eminent personalities like Padma Jaiswal, Secretary, Department of Cooperation, Goa, Kaustubh Dhavse, Joint Secretary, Chief Minister Office and Officer on Special Duty to Chief Minister, Maharashtra and Shiv Kumar Bhasin, Chief Technology Officer, State Bank of India and Chief Technology Officers, Chief Information Officers, Chief Information Security Officers, General Manager-Information Technology of the leading Public and Private banks across India, senior level executives, technology innovators and solution providers. This issue also carries the report of the 2nd BFSI CTO Summit.

In keeping with its vision to help the stakeholders in BFSI sector find innovative solutions to various issues in the ever evolving sector, Elets plans to organise 2nd BFSI Cloud & Security Summit in Mumbai in the month of December to enable exclusive exchange of ideas on cloud computing. We hope to see you there.

Looking forward to our readers’ invaluable feedback.

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