MDI Gurgaon in collaboration with DFS, Ministry of Finance organized a conference on role & future road map of financial services sector for a Viksit Bharat

May 04, 2024

Management Development Institute, Gurgaon in collaboration with Department of Financial Services (DFS, Ministry of Finance) conducted a daylong conference focusing on the role of Financial Services for a Viksit Bharat. The conference was attended by esteemed stakeholders from DFS, government sector financial institutions and private sector financial institutions.
The conference started with a plenary note by Secretary – DFS, Chairman – IBBI, Chairman – IRDAI & Deputy Governor – RBI, where they setup up the stage for discussion by outlining various nuances of the current financial services landscape and comparing it with the benchmarks that we need to aim for a Viksit Bharat.

The plenary session was followed by interactive sessions on the following topics –

•    Responsible Lending by Banks and Financial Institutions towards Viksit Bharat – 
This session was chaired by MD - NaBFID and panelled by MD – SBI, MD – Exim Bank & Executive Director – ICICI Bank. 
The panel focused on the importance of increasing the credit levels to achieve the GDP goals of USD 30 trillion by in next 20-22 years. The panel also outlined the importance of taking learnings from country’s prior phase of aggressive lending and make a shift towards ‘aggressive & responsible lending’.

•    Banking to the Mass Affluent & the Bottom of the Pyramid: Squaring the Circle – 
This session was chaired by CMD – Bajaj Finserv Ltd, and panelled by MD & CEO – Jana SFB, Group Head – Commercial & Rural Banking – HDFC Bank & CEO & Director – Microfinance Industry Network. 
The panel shared their diverse perspectives and experiences on challenges and opportunities in catering to underserved segments of society from leveraging technology for last-mile connectivity to designing tailored financial products. The panellists shared valuable insights that resonate deeply with the ethos of inclusive growth.

•    Social Security for Developed India – 
This session was chaired by Chairperson – LIC, and panelled by Former Chairman cum Managing Director – GIC Limited, Member – PFRDA, Managing Director & CEO – SBI Life Insurance Company Limited.
Panels’ profound insights and expert perspectives delved into the intricacies of designing comprehensive social security systems that cater to the diverse needs of citizens across the nation. From pension reforms to insurance penetration, the panellists offered valuable strategies to bolster financial resilience and mitigate social risks.

Towards the end of the conference, concluding remarks were provided by Chairman – NABARD, vote of thanks by Additional Secretary – DFS & closing remarks by Director – MDI Gurgaon. All the dignitaries celebrated the success of the Viksit Bharat conference and parted ways with the hope of making such conferences a regular affair.