Powering Viksit Bharat 2047 through Financial Sector Reforms

A two-day conference by
The Centre for Financial Services (CFS) at MDI Gurgaon
In collaboration with the Insolvency and Bankruptcy Board of India
May 13 -14, 2026 at the Auditorium, MDI Gurgaon.

As India marches toward its centenary of independence in 2047, the financial sector stands as the primary engine of this transformation. “Viksit Bharat” demands a financial ecosystem that is resilient, transparent, and digitally inclusive. The last decade has seen some path-breaking initiatives such as the introduction and evolution of the Insolvency and Bankruptcy Code, 2016, the maturation of India’s Unified Payment Interface, making it ubiquitous today, and baby steps towards the introduction of a digital currency, the CBDC, among others. Simultaneously, developments such as the stupendous rise of Artificial Intelligence (AI) have taken people, organizations, industries and entire economies by surprise. This conference, marking ten years of the IBBI, serves as a critical junction for practitioners, academics, and regulators to deliberate on the reforms that will define the next two decades of Indian economic sovereignty. 

Sessions in the conference:

The first day of the conference is dedicated to the 10-year anniversary of the Insolvency and Bankruptcy Board of India (IBBI), the institution established to oversee the implementation of the Insolvency and Bankruptcy Code (IBC), 2016. The day will include a retrospective of the IBC’s first decade, along with three academic panels.

• The first panel “Insolvency and Bankruptcy (Amendment) Bill, 2026” will focus on the recent amendments to the IBC, and their implications for the insolvency ecosystem. This will be preceded by a short presentation on the Creditor-initiated Insolvency Resolution Process (CIIRP).
• The second panel titled “Bankruptcy Across Jurisdictions: Frameworks and Cultural Contexts,” will examine institutional practices across countries and the cultural environments within which these frameworks have evolved and operate.
• The third panel will examine the role and experience of micro, small, and medium enterprises (MSMEs) within the IBC process.

The second day is dedicated to India’s financial sector as a lever for Viksit Bharat, 2047, both the imperatives facing the nation, as well as disruptions that have the power to redefine finance. This day will include two panels and a session where MDI faculty will present their research undertaken under the CFS aegis.

• The first panel on Financial Literacy, Inclusion & Retirement Planning will explore the social safety net, and possible models for dignified ageing for a billion people, which also requires the population to be both financially literate and included.
• The second panel on the Future of Banking & Financial Services in the World of AI will attempt to go beyond the hype to strategically look at how new technologies that can harness and analyse huge amounts of disparate data are redefining credit risk, fraud detection, hyper-personalized banking as well as markets and investment.
• This will be followed by faculty presentations of research sponsored by the CFS:
  1. Use of Earth Observation in Real Estate Finance for Mapping Spatial Heterogeneity in Credit Risk and Business Development: A GeoAI study of Gurugram & Jaipur by Prof. Nakul Gupta
  2. Nudging for Resilience: A Behavioral Science Framework to Strengthen India's Financial Capability by Prof. Sunil Ashra and Prof. Madhushree Nanda Agarwal
  3. Social Comparison and Retail Trading Behavior: An Experimental Investigation by Prof. Puneet Arora and Prof. Divya Aggarwal
  4. Technology and Whistleblowing in Indian Financial Services Firms by Prof. Nidhi S Bisht and Prof. Arun K. Tripathy

Centre for Financial Services:

The Centre for Financial Services (CFS) at MDI Gurgaon was created with the objective of creating a leading platform for interdisciplinary research, policy dialogue, and institutional collaboration in the financial sector. It was formally inaugurated on May 27, 2025 by Shri M. Nagaraju, I.A.S., Secretary, Department of Financial Services, Ministry of Finance, Government of India. The CFS aims to become a national knowledge and policy hub focused on the critical themes of banking, insurance, pensions, financial inclusion, and fintech innovation. Aligning with MDI’s mission for excellence, relevance, and social impact, the Centre is envisioned as a driver of change in India’s financial landscape — supporting the country’s journey toward a financially empowered and inclusive Viksit Bharat @2047.

Established in 1972, Management Development Institute Gurgaon is one of the leading business schools in India. A host of reputed ranking agencies & publications have consistently ranked MDI Gurgaon among the country's top B-schools in India. Ranked 9th among management institutions in India by the NIRF 2025 rankings, MDI Gurgaon also holds the three coveted international accreditations from AACSB, EQUIS, and AMBA, and has partnerships with over 90 business schools worldwide. MDI Gurgaon prides itself on its strong alumni network of more than 10,000 alumni working across 54 countries across all the programmes offered. With more than 700 members joining the group annually, the alumni network is growing stronger year by year.