Mr N Vaghul, chairman emeritus of ICICI Bank, recently delivered the Talwar Memorial Lecture on the topic “The Future of Finance in India”. Stressing the importance of multiple approaches when it comes to financial systems development, Mr Vaghul said that our country is too large and diverse to be wedded to one approach. He also stressed the importance of branch-based penetration into local areas, developing deep local insight, and said that a wealth management approach would have a greater chance of success when it comes to financial inclusion. He emphasized that while developing large-sized financial institutions and markets, ensuring systemic stability is an important concern at all times.
The paper explores what RTAI means in the context of digital lending. The first section compiles principles of RTAI along with its essential components. The next section maps relevant tools for each principle. These tool recommendations can help lenders implement RTAI practices in their operations.
One Response
A good commentary on the Indian Financial system. It is primitive at the same time not reached a point of breaking as it happened in the case of American Banking System. The speaker attributes it to values, espoused by Mr.Talwar, who made SBI, possible and workable despite competition.