Bengaluru, Nov 19 (UNI) From providing 1.3 billion people with a digital identity through Aadhaar to enabling secure transactions in the remotest villages, India has set a global benchmark in financial inclusion, said CEO of RBI Innovation Hub, Rajesh Bansal.
Delivering his keynote address on Monday at the second edition of the International Symposium on Financial Inclusion, Digital Innovation, and Sustainability hosted by IIM Bengaluru, Bansal emphasised the transformative impact of initiatives such as Aadhaar, AEPS, and UPI, crediting the JAM trinity (Jan Dhan-Aadhaar-Mobile) and Unified Logistics Interface (ULI) for revolutionising access to banking and empowering underserved populations.
The two-day event at the IIMB campus gathered industry leaders, policymakers, and academics to explore the intersection of digitalisation, inclusivity, and sustainability in financial innovation.
In his inaugural address, IIMB Director Dr Rishikesh T Krishnan underscored the vast potential of digital technology in transforming the financial sector. “India has made strides in creating digital public infrastructure, but challenges like market concentration and evolving skill demands remain,” he noted.
Panel discussions delved into topics such as financial inclusion and sustainable business models, featuring speakers like Prof Alnoor Bhimani (LSE) and Gaurav Malhotra (British International Investment).
The panels addressed India’s digital infrastructure and sustainable innovations, with insights from leaders such as Debajyoti Ray Chaudhuri (NESL) and Prateep Basu (Satsure).
The second day began with a session on “Enabling Sustainable Development,” where experts like Prof NS Vishwanathan (Axis Bank) and Dr Prabhas Rath (SEBI) advocated for frameworks to enhance green financing and promote CSR-driven investments through social stock exchanges.
Another panel on leveraging digital technologies featured insights from Prof R Srinivasan (IIMB) and Harishankar Krishnan (ONDC), addressing cybercrime, data privacy, and responsible financial education amid India’s digital expansion.
The symposium concluded with discussions on collaborative sustainability research. Eminent academics highlighted the role of interdisciplinary efforts in shaping policies and societal impact. Amit Nanda, Director of Amazon, capped off the event with a keynote on e-commerce driving inclusive growth. “India’s transition to a digital economy is empowering millions of businesses to scale rapidly,” he said.
With robust dialogues and engaging sessions, the symposium reinforced India’s global leadership in leveraging digital and sustainable innovations to tackle financial challenges.
