Summary:
India is poised to become a $5-trillion economy by 2028 because of four 'D's – democracy, demography, demand and digitalisation, according to Himal K Parikh, President of IIM-A Alumni Association. Bank deposits are nearly Rs 100 lakh crores and so are the problems. Nearly Rs 10 lakh crores are non-performing assets. The sector is vulnerable to KYC-related frauds, technology-related frauds and advances-related frauds. The fifth chapter of the conference was on "Governance in Indian Financial Services Sector: Reforms and Remedies" this year..