BS BFSI Summit: From Shaktikanta Das to K V Kamath, here're key speakers

Shaktikanta Das, Debasish Panda, K Rajaraman, and K V Kamath: Meet the key speakers of BS BFSI Summit 2023

Business Standard BFSI Summit: The two-day summit will be held in Mumbai’s Jio World Centre, Bandra-Kurla Complex, on October 30 and 31

SPEAKER PROFILES

Shaktikanta Das
Governor, RBI

When he completes his second term in office next year, Shaktikanta Das — who took charge as the 25th governor of the Reserve Bank of India on December 12, 2018 — will have become the longest-serving governor since Sir Benegal Rama Rau.

Before his RBI appointment, Das served as the economic affairs secretary and India’s Sherpa to the G20 from November 27, 2017, to December 11, 2018.

In the past 5 years, Das has navigated several challenges emanating from various external sources like the Covid-19 pandemic, the war in Europe and a sharp hike in interest rates by central banks of advanced economies, particularly the US Federal Reserve. Under Das, the RBI has also managed to keep the rupee stable amid global economic and geopolitical uncertainties in recent years.

Awarding him the Governor of the Year, financial publisher Central Banking recently lauded Das for critical reforms and overseeing payments innovation. Starting with the collapse of IL&FS in 2018, Das’ tenure at the RBI was marked by a series of challenges, Central Banking noted. These challenges include the Covid-19 crisis, Russia’s invasion of Ukraine, and concerns over risk exposures and potential contagion linked to public-sector banks’ loans to business houses.

Born in 1957 in Odisha, Das has an impressive educational background. He completed his bachelor's and master's degrees in History from the Delhi University’s St Stephen's College. He also holds a postgraduate degree in public administration from the University of Birmingham, UK.

Das joined the Indian Administrative Service (IAS) in 1980 and was assigned to the Tamil Nadu cadre. He held various positions in the state government, including as the commissioner of commercial taxes, and principal secretary of industries, before moving to the central government and serving as the joint secretary in the Ministry of Finance.

Debasish Panda
Chairman, Irdai

It has been a rollercoaster ride for the insurance sector since Debasish Panda took charge as the chairman of the Insurance Regulatory and Development Authority of India (Irdai) in March 2022.

The many changes introduced by him have been aimed at improving the existing players’ ease of doing business, and attracting fresh capital into the sector so that insurance penetration in the country could be increased significantly from the present low levels.

Panda has committed to increasing insurance penetration and the aim is that every citizen should have appropriate life, health and property insurance cover — and every enterprise should to be supported by appropriate insurance solutions — by 2047. Irdai has assigned insurance companies aspirational targets for a period of five years to double the country’s insurance penetration. In order to help them move towards this target, the regulator has taken a series of steps aimed at reducing regulatory and compliance burdens.

Before joining Irdai, Panda served as secretary in the finance ministry’s Department of Financial Services.

He holds a postgraduate degree in Physics, besides a master’s in developmental management.

K Rajaraman
Chairperson, Ifsca

K Rajaraman took charge as the chairperson of the International Financial Services Centres Authority (Ifsca) in August this year. An Indian Administrative Services (IAS) Officer of the 1989 batch, Tamil Nadu Cadre, Rajaraman was a secretary in the Department of Telecommunications before assuming his present role. In over two decades of his service with the Government of India, he has held key positions in the Ministry of Finance — as additional secretary in the Department of Economic Affairs and joint secretary in the Department of Expenditure. In his previous roles, he held the position of managing director of Chennai Metro Railway and Commissioner of Commercial Taxes in Tamil Nadu. Rajaraman holds a bachelors degree in electronics and communications engineering, a masters degree in business administration and a masters degree in economics.

As a unified regulator, Ifsca is tasked with the development and regulation of financial products, financial services and financial institutions at the GIFT City, the country’s maiden International Financial Services Centre (IFSC). Institutions operating in aircraft financing, banking, fintech, and fund management have set up shop at GIFT City. Under Rajaraman’s leadership, Ifsca is already in discussions with stakeholders to facilitate direct listing of domestic companies at the IFSC, is drafting institutional arbitration rules, and is involved in the development of a voluntary carbon market in India.

K V Kamath

Chairman, Nabfid & Jio Financial Services

Kundapur Vaman Kamath (K V Kamath), who currently serves as the chairman of National Bank for Financing Infrastructure and Development (Nabfid), was recently appointed an independent director at Reliance Industries for a five-year term. He is also an independent director and non-executive chairman of Jio Financial Services.

Kamath started his career at ICICI in 1971 and later joined the Asian Development Bank in 1988. In 1996, he returned to ICICI as its managing director and chief executive officer. After its merger into private-sector lender ICICI Bank, he took charge as its MD & CEO and remained it that position till 2009. He then served as chairman of ICICI Bank till 2015. Under his leadership, the bank transformed itself into a diversified technology-driven financial services group across banking, insurance, and asset management in India with a global presence. 

In 2015, he assumed charge as the first president of the New Development Bank set up by BRICS countries, from where he retired in 2020. He has also served as the chairman of Infosys. In 2008, Kamath was awarded the Padma Bhushan, one of India’s highest civilian honours. Kamath is a mechanical engineer with a postgraduation in business administration from IIM Ahmedabad.