Wednesday, October 10, 2012

Taking Stock of The Situation

ASSOCHAM organised the National Banking Conclave in New Delhi on June 17. The one-day event focussed on the ‘Challenges and Opportunities in a Trillion Dollar Economy’. Top executives of leading public sector banks and high-ranking officials of government departments and other financial institutions were present. It was held at Shangri-La’s Eros Hotel, and Finance Minister Pranab Mukherjee was the Chief Guest.

The event aimed at taking stock of India’s position in the wake of becoming a trillion-dollar economy, and evaluating the measures it needs to take in order to consolidate its position. It also took stock of threats that India could face.

Mr. Dilip Modi, President of ASSOCHAM and MD, Spice Group, delivered the welcome address, and said that there has been a change in global financial dynamics. Unfortunately, there is a very low penetration of financial services in India, wherein lies a huge opportunity for banks and financial institutions.

The Finance Minister expressed confidence that India is in a position where it can sustain high economic growth and development in the coming years despite the problems it is up against. He informed that economies around the world are still coming up with policies to better manage globalisation and serve the collective well-being of people. He said that these measures need to be sustained and pursued to their logical end so that they bear the desired fruit.Read More

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