Mumbai, Oct. 16 -- Maharashtra Governor Jishnu Dev Varma on Friday called for expanding financial inclusion beyond bank accounts and digital payments to ensure affordable credit, insurance and pension coverage for rural households, women and small entrepreneurs.
Addressing the 21st Annual Summit & Awards of the ASSOCHAM National Council for Banking and Financial Sector Lending Companies in Mumbai, he stressed the need for a stable, innovative and inclusive financial system.
Atul Kumar Goel, Chief Executive of the Indian Banks Association, said the banking sector could help achieve India's ambition of becoming a $30 trillion economy by 2047 through digital maturity, resilience and financing for renewable energy, semiconductors and
MSMEs.
Nirmal K Minda, President of ASSOCHAM, emphasised strong governance, cybersecurity, transparency and responsible lending amid the growing use of fintech and artificial intelligence.
Manish Jain, Co-Chairman of ASSOCHAM's National Council for Banking and Executive Director of YES Bank, called for specialised lending to emerging sectors, including green hydrogen, semiconductors, space technology and electric mobility. He highlighted the Rs 30 trillion MSME credit gap and the need for digital underwriting and ecosystem-driven financing.
The summit, themed "Resilience, Reinvention and India's Rise", also featured the release of the ASSOCHAM-EY Knowledge Report and awards recognising contributions to banking and financial services.
ASSOCHAM Secretary General Saurabh Sanyal called for greater collaboration among the government, regulators and industry to strengthen financial inclusion and build a resilient financial ecosystem.
Published by HT Digital Content Services with permission from Millennium Post.