CNBC-TV18, in partnership with Nucleus Software, hosted the second edition of the ‘Banking Transformation Summit’ on Friday, gathering banking professionals, policymakers, and finance experts to discuss the future of India’s banking sector.

This year’s theme, ‘Bharat’s Banking Roadmap For The Future,’ emphasized India’s economic growth and the critical role of financial institutions in driving progress, according to a press release from the news channel.

J. Swaminathan, Deputy Governor, Reserve Bank of India (RBI) delivered the keynote address, focusing on ‘Transforming Financial Landscapes: Building Resilience for Economic Stability’.

He noted the growing demand for credit driven by digital lending and highlighted the challenges of the widening credit-deposit gap. Swaminathan emphasized the need for lenders to address this gap to maintain financial stability.

Dinesh Kumar Khara, Chairperson, State Bank of India engaged in a fireside chat, followed by a panel discussion on ‘Filling the Credit Gap to Fuel Economic Growth’, alongside A.K. Tewari, MD, SBI; Prashant Kumar, MD & CEO, Yes Bank and Ashok Vaswani, MD & CEO, Kotak Mahindra Bank.

V. Anantha Nageswaran, Chief Economic Advisor, Indian Government, discussed the importance of achieving a balanced portfolio between financial and real assets and enhancing financial literacy. He stressed the need for growth in employment, income, and savings to expand the financial sector, alongside promoting insurance alongside banking for greater financial inclusion.

Vishnu R. Dusad, MD & Co-founder, Nucleus Software, highlighted the importance of data protection in banking, emphasizing that with the new Data Protection Act, financial institutions must reassess their data handling practices to build trust and confidence among customers.

Shereen Bhan, Managing Editor, CNBC-TV18, expressed pride in the summit’s focus on critical sectors for India’s economic growth, stating that the event fostered robust dialogue on building a more resilient and dynamic banking system.

The event concluded with a special felicitation by CNBC-TV18 for Dinesh Kumar Khara and Shyam Srinivasan, recognizing their long-standing contributions to the banking sector.