Changing Contours of the Financial Sector Architecture: Small Tremors or Tectonic Shifts

Recent years have seen the kind of changes in the financial landscape at institutional level which appear to be unprecedented and fundamental in many ways

Given the importance of these changes, the Inclusive Finance India Summit 2017 has dedicated a plenary session lead by key banking sector front-runners towards Indian financial landscape going through a pivotal period and its implied future prospects for the country.

Reserve Bank of India (RBI) approved niche banks paving way for offering small-scale financial services in a more robust framework. We are witnessing an increasing confidence of the mainstream banks in the low-income segment, evident from the rising number of BC partnerships and banks’ acquisition of the Microfinance Institutions (MFIs). Tectonic image

Banking industry is also undergoing consolidation at a scale and pace not seen before. Government is all set to merge several Public-sector banks. SBI’s recent merger with its associate banks has already created a banking behemoth of the size India has not seen before, propelling it to top 50 banks globally. In this changing landscape, once ubiquitous Regional Rural Banks (RRBs) are struggling to find their relevance as they rapidly vanish. Their numbers are reaching a low of 56 and counting, only downwards.

Then of course there is much talked about digital financial services. When a large proportion of Indians had just learned to operate ATMs, mobile payments have begun to threaten their existence.

 

The session is going to discuss this changing landscape and assess if these are just ordinary and regular changes or if there is a fundamental shift happening and what it means for the future?

 

Published by

Inclusive Finance India Summit

Inclusive Finance India is a global policy platform on financial Inclusion setup with the objective of enabling cross-pollination of best practices and breakthroughs,specifically to influence India’s Financial Inclusion strategy and campaign. Recognizing the need and to support this cause, ACCESS has been organizing “The Inclusive Finance Summit” since 2004. This year the Summit is being held on January 18 - 19, 2021 in New Delhi.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s