New Age Banking - An idea whose time has come
The Indian Banking Sector is weathering the storm of several forces - a VUCA global environment, a slowing real economy and emerging competition from non-traditional players. The spectrum of challenges is pushing the extremes ranging from stalled big-ticket projects in the infrastructure segment to an increasingly sophisticated and demanding retail customer of the digital age. As they battle these challenges, Indian Banks must also find ways to comply with increasingly stringent capital requirements and pursue financial inclusion as an opportunity rather than an obligation.
The stock markets reflect the gradual onset of optimism in the public space. However, the much-awaited Indian resurgence cannot materialise without a revitalised banking sector. How will Indian Banks step up to the challenge? The global meltdown has demonstrated that there are no infallible models available for replication. Can Indian Banks come up with inclusive, indigenous solutions to keep pace with the new demands?
