Event Highlights : National Conference on “Banking the Unbanked: Financial Inclusion in Digital India”

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Jaipuria School of Business (JSB) organized a National Conference at India International Centre, New Delhi on Saturday, 15th April, 2017. The theme of the conference was “Banking the Unbanked: Financial Inclusion in Digital India”.

JSB has taken this initiative in organizing a National Conference on such topic as Financial Inclusion is a much cherished policy objective for us in India and our economic policy has always been driven by an underlying intent of a sustainable and inclusive growth. The policy makers in India i.e. Government of India and the RBI, have been working at it for decades as without complete access of the marginalized sections of Indian Society to institutional finance, poverty could not be eliminated. Access to banking services for remote areas of the country where the poor inhabit mostly can truly eliminate poverty and set the stage for rapid economic growth and all round development of India The current initiatives of the Government especially after launching of the Jan Dhan Yojna has raised tremendous hope for rapid development. Digital technology has created new opportunity for remote access to Banking and Institutional finance. But Government cannot do everything and we the intelligentsia from all sections of the Society, need to partner the Government in this journey for New Developed India.

Dr. S K Mahapatra, Director, Jaipuria School of Business

Dr. S K Shri Shishir Jaipuria, Chairman, Jaipuria Group at Jaipuria School of Business

Inaugural Session of National Conference at Jaipuria School of Business

Sh. Santosh Gangwar, Union Minister of State for Finance, was the Chief Guest for the occasion who inaugurated the conference through his video message. In his message he congratulated JSB for organizing such a well timed conference. He emphatically talked about government’s initiative and policies. The most inspiring message from him was that he wanted a gist of the talks and recommendations to be prepared and presented to the ministry so that the suitable recommendations can be incorporated in the government’s policy towards financial inclusion.

Dr Pami Dua, Director, Delhi School of Economics and Mr A N Nanda, Member (Banking) Postal Services Board joined as the Guests of Honour and addressed the gathering. Dr I M Pandey, Director General, Vivekanand Institute of Professional Studies (former professor at IIM, Ahmedabad) delivered the Keynote address.

The conference started with the traditional lamp lighting ceremony to seek blessings of Goddess Saraswati. Sh. Shishir Jaipuria, Chairman, Board of Governors, Jaipuria School of Business addressed the gathering and welcomed all the dignitaries and guests to the event. He thoroughly emphasized the importance of Financial Inclusion for fulfilling the vision of the Honourable Prime Minister, Sh Narendra Modi for a new wholly developed India by 2022.

Dr Pami dua talked about future schemes on financial inclusion and literacy. She quoted that till 5th April 2017 the number of bank account opened were 28.23 crores. It is really a very motivating figure towards inclusivity of people financially in Indian Economy. Moreover she talked about and emphasized on demand side measures to be taken care of to supplement the supply side measures.

Shri A N Nanda started his speech pointing towards the inclusivity in every field and he very aptly remarked that India can improve in sports by inclusivity of the mass in sports field. About the financial inclusion in India he comprehensively talked about the role of postal department in reaching the unreached for financial inclusion.

Dr I M Pandey spoke on Financial Inclusion and gave varied inputs regarding the awareness of Indian Customers towards banking products. He emphasized on less usage of banking products in urban areas and low consumer penetration of banking products in rural areas as well.

Dr S K Mahapatra spoke about three types of literacy which is essential for every citizen of country namely Financial Literacy, Banking Literacy and Digital Literacy. He shared and put his views emphatically on the contemporary concern of financial inclusion and emphasized the need to work for accelerating banking literacy and digital literacy concurrently for achieving 100 per cent financial inclusion

Over 200 intellectuals from the academia, banking, corporate and the civil society participated in the conference.

During the plenary session, very esteemed speakers from the academia and the corporate like Mr Prasanto K Roy, Head, NASSCOM Internet Mobile and E-Commerce Council; Dr Kaushik Basu, Senior National Advisor, Natural Resource Management; Mr Atul Bhatnagar, Advisor – Youth4Work (Former COO at National Skill Development Corporation and Barclays, Kenya); and Dr N R Bhanumurthy, Professor, National Institute of Public Finance & Policy, New Delhi deliberated on the issue of financial inclusion and put forth their view points.

In the first panel discussion, which was based on the track 1 and 2 of the theme i.e., Importance of Financial Inclusion and Challenges and Issues in Financial Inclusion the distinguished panelists explored the importance and challenges involved in the financial inclusion. Mr Shams Tabrez, Assistant General Manager and Faculty (Credit), State Bank Academy, Gurgaon; Mr N Kumbhat, Director – Finance, Shyam Telecom; Mr Ranjan Talwar, CFO, MMPL; Dr Himanshu Joshi, Associate Professor, Fore School of Management; Ms Rakhee Bakshee, Anchor with Rajya Sabha TV; and Mr A D Srinivas, Deputy GM and Head Corporate Finance, Central Bank of India were the esteemed panelists in this segment. The discussion was moderated by Ms Rakhee Bakshee.
The panelists for the second panel which was based on the track 3 and 4 of the theme i.e., Financial

Inclusion and stability in India and Way forward post Demonetization talked at length about the financial policies of the Government of India and also discussed the impact of demonetization. The panelists Dr Namita Rajput, Associate Professor and Principal (Evening), Sri Aurobindo College, Delhi University; Mr Amit Goel, Vice Chairman, The Pioneer, and Mr Awanish Sinha, Former Vice President, Yes Bank also deliberated on the issues and complexities involved in the process of financial inclusion.
Over twenty eminent intellectuals addressed the gathering at the conference and around eight selected papers were presented at the conference out of which two best presentations were awarded in the valedictory session. The valedictory session began with the summing up of the conference by Mr Partho Kar, Advisor, Jaipuria Group of Educational Institutions. The awards for the best paper presentations were presented to the winners by Mr Vinod Malhotra, Advisor, Jaipuria Group of Educational Institutions and Dr S K Mahapatra, Director, Jaipuria School of Business. The conference closed with a Vote of Thanks by Prof. Surabhi Singh, Associate Professor, Jaipuria School of Business. The conference was convened by Dr Anindita, Associate Professor (Finance).

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