New Delhi, Aug 20: Centre for Economic Policy Research (CEPR) and the government Think Tank NITI Aayog are organising two-day India Banking Conclave in New Delhi between August 23 and August 24, 2018 in which not only best minds of the banking and financial sectors will participate but also some renowned international manes too will figure as the sector is undergoing a major churning at least in India. The focus will be on reform in the banking sector.
Bad debts and non-performing assets (NPAs) have been doing rounds in the country for quite a while and the government is constantly engaged to deal with it. On the other hand CEPR has regularly been engaging with corporates, law and policy makers of the country, academicians and professionals to make all stakeholders to share their view on these issues in unbiased manner by bringing them to one platform.
Amid all this debate and discussion, the present dispensation in India has decided to clean the mess in the banking that earlier was not even being acknowledged but it definitely needs political courage to go for it. The issues included legacy issue of bleeding balance-sheets of various electricity distribution companies in different states, de-bottelnecking the road sector, rejuvenating ports in India, pushing the corporate sectors to clear their dues or face the provisions of insolvency and bankruptcy laws that the government recently introduced.
The ruling National Democratic Alliance (NDA) government at the Centre has made the approach more inclusive and pro-active towards to bottom of Pyramid. Moreover, the government is doing all this without compromising the government responsibility of serving the cause of exploited interestingly their role in exports, manufacturing, services in country's commerce and industry sector. India Banking Conclave will be a platform for banking industry to understand the new Indian paradigm of the banking sector.
This initiative will be an attempt to bring together honchos of public sector and private sector banks on one platform including professionals, corporate captains, academics and other stakeholders. This initiated will help charting a new way forward for the banking industry of the country. Moreover, the government decision to clean up the mess in the banking sectors in India will make the banking industry more efficient. And financial technologies introduced in the banking will not only be accessible to the poor people but will also help reap benefit after these measures, changes and clean up drive is done. Digital economy will help poor people to change their lives in many ways that the banking in the news regime plans to provide with cheaper and easily accessible loans especially in Inida.
The questions like artificial intelligence, block chains, role of internet and robots et al are issues that Indian banks along with their international counterpart are facing, all these issues are likely to addressed in this conclave to make the banking sector more robust in India.