Page 125 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) .indd

BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
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banks it will be important to visualize to do years. The total branches have increased 1.3
the scenario building and prepare themselves times over the last eight years the total ATMs
to serve both these universes in their own have increased 1.3 times and most important
business interest. point is that the number of PM JDY accounts
having is now 454 million this is the biggest
Shri Soumya Kanti Ghosh, gave a brief
financial inclusion plan in the world to bring
presentation of the Indian banking sector the unbanked under ambitious banking
and said that Indian banking sector remains and social securities and it is this digital
significantly adequately capitalized as of now transformation which also held the Indian
as comparable to developed economies. In 2008 economy and specifically those at the bottom
global financial crisis when the banks actually
strata to relegate to the pandemic in terms of
went into the crisis not adequately capitalized cash transfers and the stroke of a button by
but in this crisis the banks actually were the bank which has been the backbone of this
adequately capitalized and if you remember financial inclusion program. The Indian banks
that uh before the banks had taken an asset are fully prepared for all the opportunity and
quality exercise and in conjunction with the RBI
he said that the next 15 to 20 years could be a
it has introduced a significant improvement in very good growth period of the Indian banks
credit culture across the borders and what it given the way that they have been preparing
did is that of course this lead to a short-term themselves in terms of being digitally and
pain but banking asset book is now sound, it technologically savvy and trying to cater to the
is adequately capitalized. He stressed saying
current generation of people.
the most important thing is, Indian banking
sector is adequately capitalized and compatible CMA Arup Shankar Bagchi, Senior Director,
with developed countries today and it can take HoD, BFSIB, gave the vote of thanks and
the pain of financing the economic activity as expressed his gratitude to the esteemed
growth continues to pick up in the system. This presence for such an insightful webinar.
is the banking infrastructure in the last eight

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