Mumbai, November 25, 2016 (GPN) : Dun & Bradstreet, the world’s leading provider of global business information, knowledge and insights, in association with LIC, organized Financial Markets Conclave 2016in Mumbai today. The event was held at St. Regis, Lower Parel, Mumbai.
The Government of India has introduced several reforms to liberalize, regulate and strengthen the financial markets industry. With a combined push, by the government and private sector players, to grow participation in the financial markets from various strata of people, from urban as well as rural areas, the changing landscape of the distribution channels and its role in growing participation in financial markets, comes to focus.
Ms. Preeta Misra, Director – Learning Solutions, Dun & Bradstreet India welcomed the gathering and said, “Change is constant in the VUCA world. In this world of change, making available the financial facilities to the bottom level is still a challenge. The ecosystem is changing rapidly. The new players have entered like Fintech. Customers are now equipped with the knowledge.”
Elaborating on the topic of The Regulatory Landscape, Dr. Mamta Suri, Chief General Manager (Finance), Insurance Regulatory & Development Authority of India said, “ There are 55 insurance companies-9 in public sector and rest in private sector. The share capital of insurance Industry is 40,000 crores. We are broadening the distribution. Various channels as Insurance Sector penetration can grow and it reaches the grass-root level”.
Further on the topic ofLeveraging the new bond platform (BSE BOND) to raise debt Mr. Ashish Kumar Chauhan, MD & CEO, BSE Ltd. said, “ Finance is the only activity which connects present with the future. In the last 15 years, less number of people are coming into the stock markets. We started a new framework. 7000 crores are transferred to mutual funds. It is the largest in the world. On the debt side, India’s debt market is not developing. BSE collected 1 lakh crores in the last four months. Regulation has changed and it has developed in the last month. Mutual Funds is ramping up very rapidly. BSE is the fastest stock exchange. We have the capacity to take 5lakhs in a second.”
Mr. Mrugank Paranjape, Managing Director & Chief Executive Officer, Multi Commodity Exchange of India Limited said on the topic of Innovations in commodity market products, “Product innovation in the commodity markets will be the leading differentiator in the commodity exchange space going forward. From options to indices to exotic derivatives like weather and freight – this market has huge opportunities still lying untapped. And, to be at the forefront of product innovation, human resources and technology will be the leading enablers in providing operational efficiency to the entire ecosystem.”
The event saw a panel discussion on “Distribution of financial products: the way forward” moderated by Mr. G. Gopalakrishna, Director, Centre for Advanced Financial Research and Learning (CAFRAL). Institutions pivotal to promoting financial inclusion in the country such as the Anand Rathi Group, Kotak Securities Limited, HDFC Standard Life Insurance, Deutsche Bank, CAMS Repository Services Limited and ICICI Securities Limited were among those present at the discussion.
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