'PSB confluence' to foster collaborative dialogue, exchange best practices: Govt
New Delhi, Aug 11
With an aim to foster collaborative dialogue and exchange best practices, the government is set to organise the 'PSB Confluence' ideation conclave on August 17-18 here.
The two-day event, in the presence of Finance Minister Nirmala Sitharaman and Minister of State for Finance, Pankaj Chaudhary, will bring together the leadership of Public Sector Banks (PSBs) and Public Financial Institutions (PFIs).
Nearly 125 participants, including Chairmen, Managing Directors and Executive Directors of PSBs and PFIs, such as NABARD, EXIM Bank, SIDBI, NHB, IIFCL, IFCI, and NaBFID, will attend the event.
The confluence aims to chart out actionable, time-bound strategies with a strong focus on people-centric outcomes, according to Finance Ministry.
It will also serve as a platform for participating institutions to brainstorm on identified themes , share proven practices, and discuss practical initiatives that can be adopted across the banking ecosystem.
"The themes have been selected for their direct bearing on citizen welfare and inclusive economic development," the statement added.
The discussions are expected to cover strengthening the resource base available for affordable credit, facilitation of the investment cycle for timely execution of infrastructure projects, development of capability centre ecosystems, strengthening rural value-chain infrastructure to address post-harvest requirements and market linkages, priority sector lending to extend formal credit to underserved segments, and designing banking products to meet the needs of the youth.
The statement further said that these themes have been identified for their potential to translate institutional and policy interventions into measurable, people-centric outcomes.
Deliberations at the conclave will be organised around different thematic tracks, each coordinated by a designated group of institutions.
The thematic tracks will focus on Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle, supporting Global Capability Centres, Agriculture & Horticulture Value Chain Infrastructure, Re-imagining the Credit Card Business, and Priority Sector Lending, said the statement.
— IANS
Reader Comments
The 'Re-imagining the Credit Card Business' track is much needed. For a country of our size, credit card penetration remains low. If they can make credit accessible to the middle class with better interest rates, it would be a game-changer for consumer spending.
Good initiative, but I hope the discussions go beyond theories. We need clear action plans, especially for priority sector lending. Farmers and small businesses are still struggling to get credit despite all the schemes. Let's see some real execution this time.
Impressive to see such comprehensive themes being discussed. The focus on global capability centres and rural value-chain infrastructure shows a forward-looking approach. This is how we build a robust financial ecosystem for the future.
Deposit mobilisation is a tricky one. With people moving to mutual funds and other investment options, banks must innovate. Maybe they could learn from private banks that offer better digital services. After all, customer experience matters, doesn't it? 🤔
The 'Agriculture & Horticulture Value Chain Infrastructure' track is critical. Post-harvest losses are a huge issue for our farmers. If PSBs can help develop cold storage and market linkages, it will truly be a people-centric outcome. Let's hope the implementation is as good as the intention.
N Nikhil C