Page 124 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
th
nd
Shri B.Rajkumar, Advisor, BFSIB and Former when retail was hardly any percentage of it
Deputy Chief Executive Indian Banks but the shift has taken place today retail is
Association, discussed about the evolution becoming a prominent component of balance
of the banking system over the past 40 years sheet composition of most of the banks. Now
and said that the fundamentals of banking a days risk management framework which is
have not changed in all these years but what driven by the powerful algorithm behind the
has changed is the banking operations as well system, a whole lot of technology has happened
as how do we do banking and technology has in the recent years. He expressed his concern
brought the changes. Tomorrow technology saying that the important point for the bank is
will continue to be a game changer and holds to think over whether they should try to do all
the key to tomorrow's banking. the technology innovation in-house and end up
creating multiple channels which confuses both
Shri Mohan Tanksale, Former Chief Executive, the consumer as well as their own people who
Indian Banks Association expressed that have to run this psychology or they should try
the banking industry has withstood various to look at a meaningful collaboration with these
crises and transformed itself into a real great
kind of entities. Talking about the future road
institution to meet the challenges and contribute of banking he said we must have meaningful
to the economic growth of the country. He collaboration and cooperation while also doing
discussed the pre and post nationalization the competition wherever needed that will be
scenario in the banking industry and how one very important area the another challenge
banking has evolved in all these years. Shri
will be the talent retention and already all the
Tanksale mentioned financial inclusion which entities are facing that problem because the
started in 2006 and the importance of Pradhan way technology is growing in multiple sector of
Mantri Jan Dhan Yojna in it. the technology the economy there is always there is a race for
in the banking industry has really helped out acquiring the best talent and so banks would be
despite the shutdowns, the industry has been
relying heavily on the technology. So it will be
alive and has been contributing substantially very important that the talent retention is done
to the customer needs and today the financial and the other thing would be the learning from
sector is predicting the financial needs of the infrastructure financing which we have seen
customer and proactively reaching to the will continue to remain an important growth
customer with their needs.
sector. He said the technology like blockchain
Shri S.S Mundra said when nationalization and specialized institutions have come so now
happened we could not bring this separation banks have to find that what could be their
of ownership and management, that had its meaningful niche in the payment and settlement
own impact and as a result when the private system. Banks would need to prepare for that
banks came into the market then this non- another important area i.e. green finance or
separation of ownership and management ESG. Another important aspect for tomorrow
became to some extent a handicap for the banking he mentioned is customer protection.
banks. The Indian bank's balance sheet over a Moreover, he also said that banks also have to
period of last few years or couple of decades think of the ageing population after 20 years
the balance sheet used to be predominantly and the then Zen generation. Their technology
heavy corporate lending. There was a time requirement would be different and so for

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