Second `Gyan Sangam' of bankers begins at Gurgaon

Top bankers and heads of financial institutions in the country have converged for a two-day retreat, called `Gyan Sangam', being held on 4-5 March at State Bank Academy, at Gurgaon, Haryana.

Minister of state for finance Jayant Sinha will make the opening address today, which will be followed by the key note address by Reserve Bank of India governor Raghuram Rajan.

The second `Gyan Sangam', after the first one held in January 2015 at Pune, will look for ways to take forward the government's commitment to reforms in the banking and financial sector and to align growth and change in the financial sector with development in the real sector.

Participants in this bankers' retreat include Anjuli Chib Duggal, secretary, department of financial services (DFS), regulators, officials of the ministry of finance, top management of all public sector banks (PSBs), insurance companies and financial institutions (FIs).

The idea of organising such a retreat is to provide an informal academic environment, which can bring out the creative best of the minds of professionals and regulators. 

The retreat will help participating professionals, regulators and the government arrive at a common understanding on the reform required in public sector banks (PSBs) in the current economic situation.

The participants have been divided into five working groups to address outcomes related discussions on access, efficiency, stability, profitability/value creation. Working groups include one each on restructuring, merger and acquisitions, NPA management and recovery, technology, digital and financial inclusion, credit growth and risk management.

These groups would hold discussions and finalise their reports and present them before the finance minister Arun Jaitley on the second day, 5 March. The two-day conference will end with a press conference on 5 March.