Centre for Economic Policy Research, CEPR has conducted stakeholder meeting on banks at The Claridges, New Delhi on 8th December, 2018.
It was a closed door meeting witnessed the presence of prominent speakers Sanjeev Sanyal (Principal Economic Adviser in the Ministry of Finance, Government of India); Dr. Ashwani Mahajan (National Co-convenor, Swadeshi Jagaran Manch); Gopal Krishna Agarwal (National Spokesperson Economic Affairs, BJP Independent Director, Bank of Baroda); Dr. Subhash Sharma (Director, Centre for Economic Policy Research) and many other dignitaries who focused on the challenges faced by the banks in India. Largely, how to make the Indian banks stronger and bigger.
This meeting was conducted to deliberate upon the challenges like country’s growth is facing a serious challenge of squeeze in the liquidity. This means slowing down of funds for MSMEs, infrastructure, manufacturing projects. This includes slowing down of the reforms and growing interests of the international players in our financial markets. This makes the role of the regulator and financial institutions more relevant, not only to improve the efficiency, credibility and explore newer areas of growth. The gathering took the conversation further from the discussion happened around India Banking Conclave, 2018 (August 23-24) and subsequent stakeholder round table on Indian Bank, Indian Problem & Indian Solution (November 17).
In this, discussion was laid regarding the growing need of the funds at NBFCs, structure of Indian banks (PSB), need of the development finance institutions and the implementation of the two reform agendas suggested by Sh BN Srikrishna led Financial Sector Legislative Reform Commission, or FSLRC and the Sh PJ Naik led committee on governance of boards of banks in India.