Chief Economic Advisor to the Government of India V. Anantha Nageswaran on Monday (September 2, 2024) said that since the consequences of what happens in the financial sector reverberate throughout, therefore it carries a significant weight of responsibility on its shoulders

Mr. Nageswaran, while speaking at the CII Financing 3.0 Summit in Mumbai said that the big difference between the financial sector and other sectors is that the consequences of what happens in this [financial] sector reverberate throughout the economy and beyond.

The Confederation of Indian Industry (CII) Financing Summit 3.0 is aimed at addressing key issues and come out with relevant recommendations to provide an impetus to financial sector’s role in supporting India’s growth.

Mr. Nageswaran also emphasised on 3Cs -Collaboration, Challenges, and Confidence that has significantly shaped Indian economy’s progress.

There is a need for banking services to permeate all across the country, channelizing funds for green financing, embracing technological & digital changes, promoting innovation, and reducing risk. There is also a need for greater harmony among regulators said Sanjiv Bajaj, CMD, Bajaj Finserv Ltd and Past President of CII at summit.