The push for digitisation in the wake of demonetisation and the proposal for public sector bank (PSB) consolidation are to top the agenda for Gyan Sangam.
This is the retreat for PSBs, government-owned Financial Institutions (FI) and insurance companies, slated for March.
The sessions on digitisation will include presentations on increasing the use of Artificial Intelligence (AI) systems. It will also study big data analytics in the banking & financial services industry in India.
The major slowdown in credit growth – to a more than six-decade low of 5.1% for the fortnight ended December 23 – and ways to revitalise it, as well as measures to effectively tackle bad loans will also be discussed.
The retreat would have discussions on automating many of these functions to ensure productivity improvement.
Strategies for strengthening the ‘banking correspondent’-network and increasing the usage of micro ATMs and Point of Sale machines will also be discussed.
The high-profile meeting will also deliberate upon the need for the autonomous Banks Board Bureau (BBB) to expedite banking reforms including PSB consolidation.
The BBB was set up to help select heads of public sector banks and financial institutions as well as assist banks with strategies and capital-raising plans.
Also on the agenda for discussion is the proposed National Asset Management Company (or a ‘bad bank’).
This is a special category asset reconstruction company with stakeholders including the government and the private sector for takeover and turnaround of bad loans, stressed assets and restructured assets.
