Mumbai 14th June 2019: The IMC Chamber of Commerce and Industry in association with the Institute of Chartered Accountants of India (ICAI) concludes the 10th Banking & Finance conference. The audience and speakers comprising of veteran bankers, professionals from banking & finance sectors engaged in discussions in a daylong conference organized by The IMC Chamber of Commerce and Industry and the Institute of Chartered Accountants of India (ICAI) to chart a roadmap for “India a Ten Trillion Dollar Economy by 2030: Role of Banks” the theme of the conference. The discussions included Project Finance, Corporate governance in banks, transformation in Indian banking sector, and cyber security in banks, inclusive banking and stressed assets.
The chief guest at the event, Mr. Sudhir Mungantiwar, Minister (Finance and Planning, Forests), Government of Maharashtra at the event said “Family values contribute to national welfare. The minister suggested a change in mind-set in banking through inclusive innovation and financial inclusion. He said considering the current global economy, India is in a sweet spot for growth at a higher rate. He said diversification of resources of wealth is the key to the goal of Ten Trillion Dollar Economyby 2030. He further emphasised that Make in India needs to be strengthened decisively, along with upgradation of skills through the Skilling India initiatives.
Towards the end he said that India has to have a three pronged approach
- Zero Import
- Zero Affect
- Zero defect
In his keynote address, Mr. M. Damodaran said “It is no rocket science as far as Corporate Governance is concerned. He said Banks should adopt a 'tripod' model wherein the Banks management should be empowered to take decisions, incentivise performers and are made accountable for their actions"
Earlier welcoming the Cheif guests, speakers and participants, Mr. Ashish vaid, President Elect IMC spoke of the importance of the conference as it was the 50th year of Banks nationalisation and the vision with which banks in their contribution to national economy by taking it to a Ten Trillion economy by 2030.
Mr. Raj Nair, President IMC at the concluding session spoke of the various regulation and development which would help offer digital services at an affordable cost to vast populace. Mr Anand Sinha former DY Governor RBI, delivered the Valedictory address.
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About The IMC Chamber of Commerce and Industry
Set up in 1907, the 110- year old IMC is an apex Chamber of trade, commerce & industry with headquarters in Mumbai. It has about 2800 direct members, comprising a cross section of the business community, including public and private limited companies and over 225 trade and industry associations. With some new associations, IMC now reaches out to almost a million businesses, MSMEs and large ones. IMC is the first Chamber in India to get ISO 9002- 2000 certification which has since been upgraded to ISO 9001: 2008. It has a vibrant Ladies' Wing of around 2000 members, a Young Leaders' Forum, an Economic Research
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