CEA emphasizes crucial role of technology in fostering growth & innovation in banking sector

New Delhi: Indian Bank organised an insightful session featuring Dr V Anantha Nageswaran, Chief Economic Advisor to the Government of India, at its advanced classroom "Pragati," located within the Indian Bank Management Academy for Growth & Excellence (IMAGE) in Chennai. The event, held on September Saturday focused on the theme "Indian Economy & Banking: Growth and Trends," and was attended by the bank’s top management, corporate clients, regulators, and prominent academicians.

The Managing Director and CEO of Indian Bank SL Jain welcomed Dr Nageswaran and the distinguished audience, highlighting the significance of the session. "We are delighted to have Dr Nageswaran share his expertise on the Indian economy and its implications for the banking sector. This interaction will undoubtedly benefit all participants and enhance their understanding of the challenges and opportunities within the industry," said Jain.

In his address, Dr Nageswaran provided an overview of the current state of the Indian economy, emphasising the crucial role of technology in fostering growth and innovation within the banking sector. He underscored the need for banks to continuously adapt to shifting customer preferences and evolving market dynamics to remain competitive. Dr Nageswaran also stressed the importance of agriculture in driving economic growth, noting that India's food-feed system could serve as a model for the world.

The interactive session concluded with an engaging Q&A segment, during which corporate clients actively participated in discussions with the Chief Economic Advisor.

Dr Nageswaran commended Indian Bank's commitment to knowledge sharing and excellence, specifically acknowledging its MSME Prerana initiative, which is designed to empower MSME entrepreneurs through training programs. He also lauded the bank’s contribution to the PM Jan Dhan Yojana, which aimed to promote financial inclusion across India.

The event witnessed robust participation from senior executives, branch managers, and employees across Indian Bank's extensive network, offering attendees valuable insights into the future trajectory of the Indian economy and the banking sector.

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