Vijay Singh
Mumbai (Maharashtra) [India], November 29: The BFSI India Leadership Conclave-2024, held at the ITC Grand Central in Mumbai, brought together key figures from the banking, finance, and technology sectors to discuss the future of India’s financial services industry. Organised by Eternal Corporate Media Pvt. Ltd., the event focused on innovation, technology, and strategic growth, positioning the BFSI sector at the heart of India’s digital transformation.
The conclave began with a welcome address from Alok Ranjan Tiwari, Managing Director & CEO of Eternal Corporate Media Pvt. Ltd., who underscored the importance of collaboration among industry stakeholders to drive growth and innovation in India’s BFSI sector. Tiwari highlighted the sector’s pivotal role in shaping the nation’s digital future and emphasised the collective responsibility of leaders to foster sustainable growth.
The Chief Guest, Sandip Patel, Managing Director of IBM India & South Asia, delivered a compelling keynote, emphasising the critical role of Artificial Intelligence (AI) in driving India’s Digital Renaissance. He highlighted how AI will be instrumental in realising Prime Minister Modi’s vision of a Viksit Bharat by 2047. Patel referred to this as a “Naya Daur” or New Era for Digital Bharat, where AI’s true impact lies not only in innovation but in transforming industries, increasing productivity, and enhancing lives. He stressed that AI in the BFSI sector must be trustworthy, explainable, non-biased, affordable, and responsible to ensure its benefits are fully realised.
Following his keynote, Patel joined Shailesh Haribhakti, Non-Executive Chairman and Independent Director on multiple boards, for a dynamic conversation on the topic “AI Shaping the Digital India Dream.” They explored the convergence of AI, blockchain, and cloud technologies, which are revolutionising the BFSI landscape and driving India’s digital future. Patel discussed how AI is reshaping banking operations, improving security, and enhancing customer experiences. Haribhakti, in turn, emphasised the growth potential of India’s rural economy and the need for sustainable, community-driven projects to empower rural communities. He highlighted green financing and ESG principles as key areas where the BFSI sector can make a lasting impact.
In his own keynote, Haribhakti emphasised the immense potential of rural India, declaring, “Rural India is not just promising – it’s delivering high consumption and robust growth. It’s clear that rural India is an engine of growth, and it is imperative that we, as leaders in the BFSI space, think about the innovations we can bring to bear in this sector. Financing sustainable, community-driven projects with local ownership is key.” He further highlighted the growing significance of green financing and Environmental, Social, and Governance (ESG) principles, urging the BFSI sector to align with global sustainability goals while empowering rural communities through cooperative models and sustainable agricultural financing.
Several other industry stalwarts took the stage to share their perspectives on leadership and the future of the financial landscape. Karan Bhagat, Founder, MD & CEO of 360 ONE; Shailesh Haribhakti, Non-Executive Chairman and Independent Director on multiple boards; Umesh Revankar, Executive Vice Chairman of Shriram Finance Limited, and Shachindra Nath, Vice Chairman & MD of UGRO Capital Limited, all delivered compelling keynote speeches. They addressed a range of topics, from navigating economic challenges to unlocking growth opportunities in the BFSI sector.
The conclave also featured two engaging panel discussions addressing the next wave of growth in the BFSI sector. The first panel, “Navigating the Next Wave: The Future of the Indian BFSI Sector,” moderated by Jyoti Prakash Gadia, Managing Director of Resurgent India Limited, included Sundararaman Ramamurthy, MD & CEO of BSE Limited, Shachindra Nath, Vice Chairman & MD of UGRO Capital Limited, Alok Rungta, MD & CEO of Future Generali India Life Insurance Co. Ltd., and Shobhit Mathur, Co-Founder of Angel One Wealth Ltd. The panellists discussed strategies for future-proofing the sector amid global uncertainties, with a focus on leadership, innovation, and emerging opportunities.
The second panel, “Mutual Fund Industry: Fuelling the ₹100 Trillion AUM Dream,” examined the growth potential of India’s mutual fund industry. Moderated by Avanne Dubash, Consultant Anchor at ET Now, the discussion featured Navneet Munot, MD & CEO of HDFC Mutual Fund, D.P. Singh, Deputy MD & Joint CEO of SBI Mutual Fund, Saurabh Nanavati, CEO of Invesco Asset Management Co. Ltd., and Swarup Mohanty, Vice Chairman & CEO of Mirae Asset Mutual Fund. The panellists explored how customer-centric strategies, digital innovation, and regulatory reforms can help the mutual fund industry achieve its ambitious goal of reaching ₹100 trillion in assets under management (AUM).
In addition to the insightful discussions, the conclave witnessed the launch of the much-anticipated coffee table book, The Indian BFSI Story. The book was unveiled by the Chief Guest, Sandip Patel, Managing Director of IBM India & South Asia, along with other distinguished Guests of Honour and speakers. This beautifully crafted publication celebrates the achievements, milestones, and visionary leadership within India’s BFSI industry, highlighting the sector’s crucial role in the nation’s economic growth and digital evolution.
The BFSI India Leadership Conclave-2024 concluded with a renewed commitment from industry leaders to embrace technological advancements and innovation while navigating the path ahead for India’s financial services sector. The event was a powerful testament to the convergence of technology, finance, and leadership in building a future-ready BFSI industry for India.
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