Bank of Baroda Banking Beyond Tomorrow Annual Banking Conference 2022

Mumbai, 23rd July 2022: Bank of Baroda (Bank), one of India’s leading public sector banks,
organized the first edition of its Annual Banking Conference on the theme “Banking
Beyond Tomorrow,” Friday, July 22. Shri Shaktikanta Das, Governor, Reserve Bank of India
was the guest of honor at the conference and gave the keynote address.
With over 20 prominent speakers from the banking and financial services industry and
outdoors, the all-day conference features five thought-provoking and thought-provoking panels
discussions on Banking Beyond Tomorrow; New frontiers of financial inclusion;
Innovative technologies and new business models for digital banking; ESG financing and
Fight against climate change, and ending with a round table of economists.
Shri Sanjiv Chadha MD & CEO, Bank of Baroda said: “As we enter the post-Covid-19
era, we have the opportunity to debate longer-term trends and direct the discussion towards
identifying the contours of Banking Beyond Tomorrow. The other side we learned
in recent years is that the banks cannot do everything themselves. They must work with
partners – partners who are increasingly integrated into core banking areas. The conference is
so all about an outside-in perspective, and how we can define and shape the future of
banks.”
The notable highlight of the event was the RBI Governor’s Inaugural Address. He talked about the
macroeconomic context, noting that India’s growth remains strong. He also mentioned that
RBI will take adequate measures to ensure a “soft landing” for the Indian economy. In particular, he
defended the MPC’s flexible inflation targeting approach, noting that it
stability of the global ecosystem. He also noted that RBI is well positioned to withstand any
external shocks. He mentioned that the fallout from tightening global politics, ongoing geopolitics
tensions, the Covid-19-induced slowdown and the commodity price shock impacted growth across
savings. To reiterate India’s strong external position, the RBI Governor said that the
ECBs are only a small part of total debt, so India is isolated enough
against currency risk.

On the regulatory front, the Governor emphasized that good governance and sound risk management
management framework is essential for an efficient and well-functioning banking system. He
highlighted how social media can increase customer penetration and used a complaints tool
repair. He also highlighted the need to recognize climate-related risks and integrate them into
Business plans.
The theme of the first session was Banking Beyond Tomorrow. Eminent Speaker Ms. Arundhati
Bhattacharya, Salesforce India raised an important point and suggested the need to create
end-to-end digital products. She also mentioned the need for service automation for efficiency
operation of the entire banking system. Mr. Ashish Gupta, Credit Suisse, said the client
activities must be performed by regulated entities to ensure KYC compliance and customer security.
Mr. Deep Gupta, Macquarie Asset Management, noted that technology and green infrastructure
are two of the most important emerging funding areas. Mr. Rashesh Shah, Edelweiss Group
believed that banks will in the future transform themselves into centers providing financial solutions.
Mr. Dilip Asbe of NPCI who joined the conference by videoconference, in a corner of the fire
chatting with Mr. Akhil Handa, Bank of Baroda highlighted the importance of digital infrastructure.
He noted UPI’s success in payment infrastructure. He also pointed out that the rural will
leading the way in the growing digital payment space at a 2x-4x rate.
The next session focused on financial inclusion. Respond to the question of strengthening the
financial inclusion movement, panelist Mr. Amit Arora from the World Bank suggested
collectively invest in 1) customer protection and grievance resolution and 2) the financial health of
households. Mr. Vikramaditya Singh Khichi of Bank of Baroda said that the Bank is striking
well above its weight with a 15% share in PMJDY and the Bank is working on more products
to further penetrate rural and agricultural markets. bob World has already integrated more than 20 million
clients. Ms. Kalpana Ajayan, Women’s World Banking, highlighted the need to focus on
advocacy, gender sensitive policies and making women more comfortable with technology. M/s.
Sucharita Mukherjee and Kaleidofin talked about the importance of account aggregators
offering tailor-made credit solutions. Mr. Anil Gupta, MicroSave Consulting, the moderator, ended
the session by declaring that it is time to move from Jan Dhan to Jan SaMr.idhhi.
A special address was delivered by Mr. Harsh Wardhan Modi of JP Morgan via video
conference. He pointed out that in the current scenario, inflation is sticky and global interest
rates will remain high. Banks with the best total cost to asset ratio will gain share in the long run.
Also, in terms. of digitization, he pointed out that the customer experience becomes a
leading driver of value creation in financial services. On cryptocurrencies, he pointed out that
regulatory buy-in will be necessary for any form of monetary and payment system to gain momentum.
The next session highlighted innovative technologies and new business models for digital
banking. In this session, moderated by the Chief Digital Officer of Bank of Baroda, Mr. Akhil Handa,
the conversation revolved around solution-based services to improve digital reach in the
banking sector. Mr. Ajay Khurana, Bank of Baroda, mentioned that micro-services
the architecture is better for an improved customer experience. Furthermore, he noted that Bank of Baroda’s
The data lake inaugurates new dimensions of analysis. Ms. Lizzie Chapman, ZestMoney spoke
on the complementarity between technology companies and banks where banks will bring
stability and regulatory awareness. Pranav Arora, Accenture said Open Banking is indeed a

massive opportunity for all banks. Mrs. Chetna G Sinha of Mann Deshi Bank agreed and further
said rural people are hungry for digital financial solutions and banks should open
the path.