BFSI highlights: Quality should get rewarded, says IFSCA chairperson

India's highest decision-makers brainstorm on the country's future growth trajectory and maintaining financial stability amid global headwinds at BS BFSI Insight Summit today

7:24 PM

IFSC being developed as a hub for reinsurance and NRI insurance business: K Rajaraman, Chairperson, IFSCA

 

7:13 PM

More people are entering financial market, indicating improving investors' trust: Chairperson, IFSCA

"More and more people are entering the financial market, which shows that investors' trust is going up. IFSCA is a unified regulator. GIFT IIFC is a full fledged financial ecosystem with global connect," says K Rajaraman, Chairperson, IFSCA.

7:07 PM

Very important that quality, cost effectiveness gets rewarded: K Rajaraman, Chairperson, IFSCA

"Very important that quality, cost effectiveness gets rewarded. Regulation should be up to standard for these goals to be met," says K Rajaraman, Chairperson, IFSCA.

6:15 PM

We need the AIF ecosystem to grow in India: Ananth Narayan, Whole Time Member, Sebi

"There is ongoing work happening in AIF to reduce type-I and type-II errors," said Ananth Narayan, Whole Time Member, Sebi.

6:13 PM

There is a need to have an ongoing dialogue on regulations: Ananth Narayan, Whole Time Member, Sebi

"There is a need to have an ongoing dialogue on regulations so that corrections can be done," says Ananth Narayan, Whole Time Member, Sebi

5:59 PM

Generative AI is the smartphone moment for artificial intelligence: Rajesh Mirjankar, CEO & MD, Kiya.AI

"Generative AI is the smartphone moment for artificial intelligence," says Rajesh Mirjankar, CEO & MD, Kiya.AI.

5:41 PM

Security cannot be an afterthought: Raghavendra Singh, Head of Cloud Security Practice, TCS

Raghavendra Singh, Head of Cloud Security Practice, TCS said, "There is a moment when you move data to the cloud, make sure guard rails are built. Security cannot be an afterthought."

5:24 PM

Well established big tech has always resisted regulation, we on the other hand welcome it: PhonePe CEO

"We did two things right and third we got lucky to bet on UPI before the others. Payments are not the same as running a WhatsApp chat or an insta post. You have to put people on the ground. Well established big tech has always resisted regulation, we on the other hand welcome it," says Sameer Nigam, Founder & CEO, PhonePe.

5:21 PM

We are in cloud 2.0 which we call at TCS: Raghavendra Singh, Head of Cloud Security Practice, TCS

"We are in cloud 2.0 which we call at TCS. More personalisation is done. Cloud is offering you power", says Raghavendra Singh, Head of Cloud Security Practice, TCS.

5:14 PM

Post Covid we have seen a jump in outsourcing to a cloud or data centres: Sujeeth Willliams

"Post Covid we have seen a jump in outsourcing to a cloud or data centres," Sujeeth Willliams, Director-BFSI, India, NTT Global Data Centers & Cloud Infrastructure India.

4:56 PM

World is struggling with the creation of blue collar jobs: Sajjid Chinoy, chief India economist at JP Morgan

Sajjid Chinoy, chief India economist at JP Morgan, added that the world is struggling with the creation of blue collar jobs. In India, it is particularly important for next 10-15 years. 
 

"India's challenge is to make blue collar jobs which is at the heart of compressing the inequality on how do you get exports and manufacturing exports. Creating white collar jobs is our revealed comparative advantage. Next 5-7 years are crucial," he said.

4:49 PM

Managing demographic dividend difficult: Samiran Chakraborty, MD & Chief Economist, Citibank

"Managing demographic dividend difficult for India," says Samiran Chakraborty, MD & Chief Economist, Citibank.

4:25 PM

Entire supply chain needs to be digitalised: Sharath Bulusu, Director - Product Management, Google Pay

"Quality of the connectivity and the resilience of the payment system to deal with connectivity drops are the main aspects. The entire supply chain needs to be digitalised so the small shopkeeper is able to pay it forward," says Sharath Bulusu, Director - Product Management, Google Pay.

 

 

4:22 PM

Mobile ownership with women is still low: Jatinder Handoo, CEO, DLAI

"Mobile ownership with women is still low, frauds are another hindrance," says Jatinder Handoo, CEO, DLAI on on challenges with digital payment acceptance.

4:21 PM

Cash is still king in some place: Kalyan Kumar, Executive Director, Punjab National Bank

"In some places, cash is still king for multiple reasons - limited infrastructure, cultural preferences and the cash is tangible," says Kalyan Kumar, Executive Director, Punjab National Bank.

4:14 PM

Focus today is on pay ability: Vishwas Patel, Joint MD, Infibeam Avenues & Chairman, Payments Council Of India

"Focus today is on the ability to pay. We need to change the purpose to ability to collect," saysVishwas Patel, Joint Managing Director, Infibeam Avenues & Chairman, Payments Council Of India on digital payment modes

3:43 PM

Failure is not about falling down but staying down: Navneet, MD & CEO, HDFC Mutual Fund

"Failure is not about falling down but staying down. We would have countered several such challenges, and every single time we have strengthened the industry," says Navneet, MD & CEO, HDFC Mutual Fund.

3:38 PM

We should give tremendous credit to our industry on where we have reached: Radhika Gupta of Edelweiss MF

"We should give tremendous credit to our industry on where we have reached. The fact that we have this kind of retail SIP book is surprising for many outsiders," says Radhika Gupta, MD & CEO, Edelweiss Mutual Fund.

3:31 PM

India is a long term growth story, says Vice Chairman and CEO, Mirae Asset Investment Managers (India) Pvt Ltd

"Any redemption you do today unless needed is wrong. India is a long term growth story," says Vice Chairman and CEO, Mirae Asset Investment Managers (India) Pvt Ltd.

3:27 PM

We don't want to sacrifice margins for growth: Rakesh Singh, MD & CEO, Aditya Birla Finance

"The consumer is not shying away from giving a bit extra if one can provide convenience of taking a loan. Making the customer journey simple and seamless. We don't want to sacrifice margins for growth," says Rakesh Singh, MD & CEO, Aditya Birla Finance.

3:07 PM

NBFC industry is still dependent on banking system: Aditya Birla Finance MD &CEO

The NBFC industry is still dependent on the banking system from a liabilities point of view, and I think that is what we need to really solve for, said Aditya Birla Finance MD and CEO, Rakesh Singh

3:03 PM

Digitalisation helped us grow way differently: ICICI Prudential MF MD

Digitalisation has helped us grow way differently. Reach has spread across the country to nearly 200 locations. Wherever we see reasonable bank deposits, we would be there. By 2030, we will be one third of the banking industry, said ICICI Prudential Mutual Fund MD, Nimesh Shah

2:58 PM

AUM has grown because of good run in market: SBI MF Dy MD

Assets Under Management (AUM) has grown because of the good run in the market. Net sales is much lower than the total SIPs due to redemptions. We need to do much more. We need to go the level to explain which fund is right for whom, said Dy MD and Joint CEO of SBI Mutual Fund, D P Singh. 

2:55 PM

It will be difficult for large NBFCs to sustain: Aditya Birla Finance MD & CEO

For the large NBFCs, it will be very, very difficult for them to sustain in a longer period of time. The liabilities become very, very important and significant, said Rakesh Singh, MD & CEO, Aditya Birla Finance

2:47 PM

We are happy to remain as NBFCs: Shriram Finance's Revankar

Non-Banking Financial Companies (NBFCs) started with a niche, but as we grew we now have capability to manage different products. So, large NBFCs have diversified portfolio. We are happy to remain as NBFCs, said Umesh Revankar, Shriram Finance Executive Vice Chairman

 

1:19 PM

I like banks, but some NBFCs one have to be cautious about: Rajeev Thakkar

I like banks, but some NBFCs one have to be cautious about, said Rajeev Thakkar, CIO, PPFAS Mutual Fund

1:18 PM

Manufacturing in India getting momentum: Aditya Birla Sun Life MF CIO

Valuations for the bank sector look reasonable. Manufacturing in India getting momentum as a broader theme, said Mahesh Patil, CIO, Aditya Birla Sun Life Mutual Fund.

1:17 PM

MF CIO panel bullish on 'Banks/Financials, Pharma, Utilities' sectors

Sectors the BS BFSI Insight Summit MF CIO Panel is bullish on: 

• Banks/Financials
• Pharma
• Utilities
• Energy
• Telecom

1:15 PM

Market flows are in small and midcap: S Naren

Right now, flows are in small and midcap. But valuations are very high, said S Naren, CIO, ICICI Prudential Mutual Fund 

1:08 PM

Outlook for India remains strong: Mahesh Patil

We are now seeing a lot of capex, not so much in private, come in, said Mahesh Patil, CIO, Aditya Birla Sun Life Mutual Fund, adding that the outlook for India remains strong.