FE Modern BFSI SUMMIT 2024 LIVE: Sundararaman Ramamurthy address Modern BSFI

Sundararaman Ramamurthy says, “We had no operational glitch arising out of the Microsoft glitch that occurred today. As an Exchange we didn’t have a problem, as a Clearance, we didn’t have a problem and therefore it was a good day for us.”

Sundararaman Ramamurthy says, “The BFSI sector has been growing. The sector is growing very fast, along with that, fraud is also growing. The fraud cases have increased by 166% in the past year.”

Sundararaman Ramamurthy says, “The banking sector is the second largest sector in the Indian markets today. We have 40 banking companies listed with us. Total market capitalization has crossed 5 trillion. Sensex– 38% of the index is represented by the banking sector.”

Sundararaman Ramamurthy mentions, “Middle class is growing, consumer is growing thus the market is growing. The country’s development is growing. With coming age, technology will greatly impact the world “

Sundararaman Ramamurthy says, ” Digitalization has transformed the entire country. A significant portion is coming as digital credit these days. “

Sundararaman Ramamurthy alludes to his time as a probationary officer at a bank to talk about the transformation of the banks that has taken place from 1986 to today.

Coming up next is the valedictory speech by Mr. Sundararaman Ramamurthy, MD & CEO, BSE. Stay tuned for more updates.

Sumit Bohra says, “We don’t have a formal education system where we have been taught about insurance. The day when a child or a student learns about insurance at an early age, will grow up and buy an insurance for themselves. This awareness is very important.”

Ravi Vishwanath on the status of healthcare insurance, “According to a survey, 34% of the people said that they don’t find any reason for buying health insurance. We are a country where 40 out of 100 surgeries get done. There are some fundamental issues in healthcare insurance. One, healthcare is completely fragmented. There is no central data for a doctor to treat you or the insurance company to understand your problem. Two, there is an institutionalized mistrust between the payer and the provider. Unless these issues are solved, you cannot build on healthcare insurance.”

Tapan Singhel on importance of insurance, “Insurance is not something that anyone is excited to buy. Collaboration between the government and the insurance companies is essential. Healthcare, Catastrophic losses, Crop and Term life should be covered uniformly for all the citizens of the country.”

Bijith Bhaskar talks about capital flows of the bank, saying, “Cyber risk, prevention of Digital Fraud, data analytics and upgrading customer experience and user generation are the top priority for the bank investments.”

Nitin Chugh on the next frontier in technology, says, “Generative Ai, Banking and Service, and Innovation of personal experience by use of data science.”

The upcoming panel about the Next frontier in Technology with Nitin Chugh, Deputy Managing Director & head of Digital banking, State Bank of India, Bijith Bhaskar, Partner, Premji Invest and Baskar Babu Ramachandran, Co-Founder & CEO, Suryaday Small Finance Bank.