Beginning with 2005 — the United Nations’ ‘International Year of Microcredit’, academics, think-tanks, commentators and others in large numbers started thinking and talking aloud on the need for financial inclusion programmes to be included as one of the goals in the Millennium Development Targets. Many further pointed to financial inclusion as a gap impeding the target of inclusive growth. In India, the Government has started experimenting with its Business Correspondent and Facilitator model (“BC”), in combination with the agency banking. The initial years’ policy flip-flop and the resultant lackluster impact have generally rendered the stake holders disillusioned. But taking a cue from the failures certain corrective steps have been taken, but still been tentative.
Although the no-frill accounts & the BC operated agency banking framework has undergone many changes it is still not a reasonable business proposition for the agents. This failure is especially grave because peer experience shows that a strong agent’s network is one of the strongest indicators for success.
If the agents are to be successful there has to be a robust payments infrastructure and settlement mechanism. The Department of Banking and Financial Services, and the finance ministry are both now urging the Reserve Bank of India to include financial inclusion in its plans as India’s central bank moves forward with modernization plans for the Indian payment system. India has miles to go before catching up with Brazil and BRICS partner countries.
While India continues to be a power house in its own right, the sheer size of its sub-continental neighbours are also extremely important. Pakistan and Bangladesh are not falling behind and each nation, despite their own challenges are improving their own Financial Inclusion drive significantly. Bangladesh’s record in financial inclusion is remarkable; the advent of mobile banking for the unbanked by as many as 16 Bangladeshi banks is a welcome news. Same is the recent spurt in Pakistan. And in the near future as the relations amongst the nations in the sub-continent improves in general line, more cross border trade, tourism, financial services need to stay atuned to more modern trends
In this back ground ,therefore, the Financial Inclusion and Payment Systems 2013, Delhi Conference (“FIPS 2013 Delhi) will deliberate, debate and finally set forth a strong message for the right direction & the required steps to be taken in view of the experience gathered during the past decade in detail and seek to provide a roadmap for a better and inclusive society.
The takeaway from the conference will give everyone an opportunity to showcase worldwide efforts towards greater financial inclusion at a time in which the financial inclusion programme mandated through the G20 takes on new importance. For example, the Alliance for Financial Inclusion.is devoting significant new resources and is gaining momentum as it has already enrolled more than 100 member countries throughout the world today, from a meagre 6 when it started .
FIPS 2013 Delhi will be aiming at improving the lives, destinies and opportunities of the almost one and one-half billion people living on the Indian subcontinent. Moreover, by working to improve their lives, this conference will also seek to draw from and improve global best practices, through reflective and frank discussions of the achievements, the shortcomings and the challenges on our path to achieving the financial inclusion of humanity. It thereby aims to learn from the peers and translate it in an unique way to fit the each country’s own legacy, its state of readiness and adapt it for the benefit of all the stake holders, and foremost amongst them the people who deserves it.
Date: 24-25 October, 2013Financial Inclusion & Development of Payment Systems & Infrastructure - The Payment system Vision Document: 2012-15 of RBI envisages to proactively encourage electronic payment systems for ushering in a less-cash society in India. The conference will highlight on the role of Payment Systems as a catalyst on the supply side of financial inclusion. |
Financial Inclusion & G2P Payments Infrastructure & Direct Benefit Transfer (DBT) - DBT has been called a game-changer. The conference will debate on the intent and implementation of DBT and other G2P Payments. |
Technology in Banking: Changing Paradigm - The FIPS 2013 conference will focus on the role of technology in bringing a complete paradigm shift in the functioning of banks and delivery of banking services. |
Agency Banking Framework - The agency banking model involves a process where retail outlets are contracted by a financial institution or mobile network operator to process clients’ transactions. |
Payment Systems Framework - The conference will discuss on different approaches towards delivery of payment services to the unbanked and under-banked customers using innovative methods. |
How to manage with less Cash - This theme addresses the issue of Indian payments industry to scale up and become more vibrant to manage with less cash. |
Remittances: Mobile Financial Services - The conference will carry out the essential debate in laying the groundwork for the development of remittance services. |
Payment Channels - The conference will disucss on innovations payment services, such as, special bank accounts or pre-paid accounts. |
Cash Management - The conference will address the challenge for any commercial enterprise, that its core competency is not managing cash but running business. |
Prepaid cards - There will be a discussion over the prepaid payment instruments (PPIs). PPI while being a new product was also thought of as a substitute for paper/ cash. |
Political Dialogue - This theme will try to bring a Political Consensus for financial inclusion and the way it could be expanded in India. |
Banking without Boundaries - The session on this particular issue will discuss the era of banking without boundaries.The recent financial crisis has redefined the broad contours of regulation of the banking sector globally. |
Financial Inclusion leading to Deepening - The session on this issue will discuss on the improvements in rural infrastructure in terms of enhancing productivity of physical resources in the rural areas and greater addition in agriculture. |
Identity Management & Food Security - The Targeted Public Distribution System (TPDS) in India is intended to provide food grains & essential commodities at subsidised prices to the poor. The conference will focus on ensuring food security. |
Banking the Women - The Union Cabinet has approved the setting up of the Bharatiya Mahila Bank. The conference will highlight many such initiatives that are playing role of a catalyst in bringing Indian women in the purview of banking. |
FI & New Banking Licenses - The conference will discuss prospective contribution of new bank licenses by RBI in expanding financial inclusion. |
e-Commerce & Finance Deepening - The conference will highlisgt on the role of e-commerce and Financial deepening in reducing risk and vulnerability for disadvantaged groups. |
Aadhaar & other Prepaid Cards - A session on Aadhaar will touch upon the Aadhaar-enabled unified payment infrastructure, direct transfer of subsidies (DTS) and electronic benefit transfer (EBT). |
FIPS 2013 Programme Schedule | |
Day 1, 24 – October, 2013 | |
Time | Hall 1 |
8:30am-9:30am | Registration & Arrival of Guests |
9:30am-10:30am |
Inaugural
Introductory Remark: M P Narayanan, President, Elets Technomedia Pvt Ltd
Mehboob Chowdhury, CEO, Citycell, Bangladesh
Rakesh Sethi, Executive Director, Union Bank of India
Ed Brandt, EVP, MD, Government Services and Solutions, MasterCard Worldwide
EY Thought Leader’s Publication – Abizer Diwanji – Partner and National Leader, Financial Services – Ernst & Young
Dr C Rangarajan, Chairman, Economic Advisory Council to the Prime Minister, Government of India
Vote of Thanks – Dr Ravi Gupta, CEO – Elets Technomedia Pvt Ltd |
10:30am-11:00am | Formal inauguration of the Exhibition & Tea/Coffee Break |
11:00am-12:00am | Session 1 -Financial Inclusion & G2P Payments Infrastructure & Direct Benefit Transfer: Is it the Game changer?
S Sundareshan, Mission Director, Direct Benefit Transfer (DBT), Government of India
Shubhalakshmi Panse, Chairman & Managing Director, Allahabad Bank
Rakesh Sethi, Executive Director, Union Bank of India
P S Rawat, Executive Director, Canara Bank
Puneet Chopra – Director, Asia – MicroSave
Eric Anklesaria – Partner, Ernst & Young |
12:00am-1:30pm | Session 2 – Payment System Infrastructure, DBT & Financial Inclusion
Dr. Neeraj Mittal, Joint Secretary (Marketing), Ministry of Petroleum and Natural Gas, Government of India
K K Jalan, Central Provident Fund Commissioner , Employees’ Provident Fund Organisations, Ministry of Labour & Employment, Government of India
Ishtiaque Ahmed Chowdhury, Managing Director, Trust Bank
Ram Rastogi – Head – IMPS, National Payments Corporation of India
Mahesh Makhija, Ernst & Young – Partner
Sanjeev Shriya, Managing Director, Smart Chip Limited
Aurelien Narcisse, Sales Manager South Asia – IT Security Solutions, THALES India Pvt Ltd |
1:30pm-2:30pm | NETWORKING LUNCH |
2:30pm-3:45pm | Session 3 – NBFC & The New Banks – Challenging Tasks – Exciting Future
Anil Swarup, Additional Secretary, Cabinet Secretariat, Government of India
Rajeev Agarwal, Secretary, Telecom Regulatory Authority of India, Government of India
P N Ranjit Kumar, Deputy Director General (Rural Business), India Post
Raman Agarwal, Senior Vice President, Srei Infrastructure
Ashoka Chatterjee, Head-Institutional Finance , Bandhan Financial Services Limited
Rakesh Mohan Diwan, General Manager, Muthoot Group
B M Gupta, In-Charge and Chief General Manager, TFCI Ltd
Vilas Kanyal, Sr VP, MphasiS
Abizer Diwanji, Ernst & Young
Q&A |
3:45pm-4:45pm | Session 4: Technology in Banking : Changing Paradigm
Keynote Address – Sanjay Jaju – Secretary IT&C – Government of Andhra Pradesh
V L Joshi, Deputy General Manager, IDBI Bank Ltd
V P Jain, General Manager FI, Punjab National Bank
Vinod Sharma, Chief Manager (IT), Indian Overseas Bank
Vijay Sardana, Head- Agribusiness, Food Security and Sustainability, UPL Group
Anurag Kuthiala, Head – Pre-Sales, Sanovi Technologies Pvt Ltd |
4:45pm-5:00pm | NETWORKING TEA/COFFEE BREAK |
5:00pm-6:30pm | Session 5 – Agency Banking Model for Inclusive Banking
Moderator: Jayanta Sinha – Former CGM State Bank of India
Puneet Chopra, – Director Asia – Microsave
Sanjay Panigrahi, Chief Executive Officer, Sahaj e-Village Limited
LP Rai, Deputy General Manager (RB IT) for Financial Inclusion and MFI, State Bank of India
Hardayal Singh, Assistant General Manager, Oriental Bank of Commerce |
7:00 pm Onwards | Networking Dinner |
Day 2, 25 – October, 2013 | |
Time | Hall 1 |
8:30am-9:30am | Registration |
9:30am-10:30am | Session 6 : Inclusive Banking – Inclusion to Deepening
Key Note Address : Dr Deepali Pant Joshi, Executive Director, Reserve Bank of India
Dr Rajanish Dass, Director, Catalyst Consulting, Former Professor, IIM Ahmedabad
SG Anil Kumar, Chief Executive Officer, IFMR Trust
Ashoka Chatterjee, Head-Institutional Finance , Bandhan Financial Services Limited
S Raghu Vatsa Chari, Chief Regional Manager, Indian Overseas Bank
Atiur Rahman, EVP – Mobile Banking, Mercantile Bank, Bangladesh |
10:30am-11:45am | Session 7 – Challenges of Reaching Out & Harnessing the Unbanked
Moderator: Mohammad Abdul Mannan, Managing Director, Islami Bank Bangladesh
Prakash Kumar, General Manager, SIDBI
V B Bhagwati, General Manager, Andhra Bank
SG Anil Kumar, Chief Executive Officer, IFMR Trust
Anil Kumar Khera, General Manager & Head Delivery – Large Programs, Wipro Infotech
Anand Bajaj, President & CIO, Yes Bank
Rajiv Gupta, Country Head – Retail Agency & Institutional Alliances, SBI Life Insurance Company
Shashank M Joshi, Managing Director, Money on Mobile |
11.45 am – 12.00 pm | TEA/COFFEE BREAK |
12 pm-1.15 pm | Session 8: Aadhaar, eGovernance & Mobile Banking Integration
Mehboob Chowdhury, CEO, Citycell, Bangladesh
A V V Prasad, Addl Commissioner, Rural Development, Govt of Andhra Pradesh
Vipin Surelia, Head – Cheque Clearing & ACH, National Payments Corporation of India
K.P Saha, Chief Executive Officer & Managing Director, Senrysa Technologies Pvt Ltd |
1.15pm – 2.00 pm | NETWORKING LUNCH |
2.00 pm – 2.45 pm | Session 9: Inclusion & Women Empowerment
Ashoka Chatterjee, Head-Institutional Finance , Bandhan Financial Services Limited
Meera Sanyal, Chief Executive Officer, RBS India
Rehana Riyawala, Secretary – SEWA
D Venkata Ramana Reddy, State Mission, Coordinator, MEPMA
Madan Padaki, Co-Founder/ CEO & Managing Director, Head Held High Services Pvt Ltd |
2.45 pm – 3.00 pm | NETWORKING TEA/COFFEE BREAK |
3.00 pm- 4.00pm | Session 10: Payment System Technologies: Best Practices and Next Practices
Moderator: Pulak Sinha, General Manager (Payment Solutions), State Bank of India
Niraj Kumar Gupta, Chief General Manager, NABARD
Ram Rastogi, Head – IMPS, National Payments Corporation of India
Ruchin Kumar, Security Evangelist, SafeNet India Pvt Ltd
Ajit Kumar Rath, General Manager IT, Union Bank of India
Rajan Raj Pant, Solution Architect, Jhakaas Solution, Kathmandu |
4.00 pm onwards |
AWARD CEREMONY & VALEDICTORY SESSION
Jesudasu Seelam , Hon’ble Minister of State for Finance, Government of India
R ChandraShekar, Former Secretary, Department of Telecommunication, Government of India
Vote of Thanks: M P Narayanan, President, Elets Technomedia Pvt Ltd
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Organisers – Elets Technomedia Knowledge Partner – EY |