Live
- 10 Effective and Gentle Techniques to Discipline Kids
- Six-year-old girl allegedly molested by tuition teacher's son in south Delhi
- Recording co's appeal in Madras HC casts a shadow on Ilaiyaraaja's 4.5K songs
- Turkish police detain 11 suspected IS members
- Vice FMs of South Korea, Canada discuss cooperation in energy, G7 ties
- HUL posts 6 pc fall in Q4 net profit at Rs 2,406 crore, declares dividend of Rs 24 per share
- Zimbabwe name 15-member squad for five-match T20I series against Bangladesh
- ‘I would love to see more players from my state get opportunities,’ I-League Emerging Player Gyamar Nikum
- More women voters in 14 Karnataka LS seats which go to polls on May 7: CEO
- YSRCP Candidate for Vijayawada West, Assures Voters of Inclusive Leadership
Digital inclusion a big challenge for banks: Expert
Over 56 per cent of people in the country do not have access to banking facilities and to reach this larger community with proper banking services is a major challenge to banking sector, said Indian Bank Executive Director M K Bhattacharya at GITAM University on Monday
Visakhapatnam: Over 56 per cent of people in the country do not have access to banking facilities and to reach this larger community with proper banking services is a major challenge to banking sector, said Indian Bank Executive Director M K Bhattacharya at GITAM University on Monday.
Delivering a lecture at GITAM Institute of Management, Bhattacharya mentioned that even in advanced economies, financial inclusion was a big problem, but if the banks succeed in this aspect that would give security to safe guard the banks.
The banking, insurance, capital markets are key players in financial sector and majority part of banking sector was experiencing with credit risk, market risk and operational risk, he said and added the recent issues happened in Indian banking sector are due to the negligence in operation risk areas.
He said digitalisation was only a supplement to the sector, but banks are equally concentrating on FinTech and Crypto currency to face the challenges.
When compared to private sector, opportunities were more in public sector banks, he said and stressed on strengthening cyber security to ensure the customers do not lose confidence in the banking sector.
He advised the students to study the challenges faced by banking sector. GITAM President Dr M V V S Murthi said that Indian financial system was sound, and the banks were playing keyrole in the system. He mentioned that the banks must reach poor with new services for financial inclusion.
GITAM Vice-Chancellor Prof MS Prasada Rao said that the university has introduced new programmes like FinTech and Blockchain Technologies to meet the current banking trends. GITAM Vice-President Prof M Gangadhara Rao, Pro Vice-Chancellor Prof K Sivaramakrishna, Registrar Prof M Potharaju, GITAM Institute of Management Principal Prof P Sheela, Indian Bank Zonal Manager KS Sudhakar, GITAM secretary BV Mohana Rao, Chief Accounts Officer KV Gupta and Treasurer BSSSN Raju were present.
