Tuesday, 17 July, 2018
Update
   FDA wakes up to formalin scare, talks of plan   CM: 8000 jobs up for grabs by Dec   Levinson named N Goa Collector   Govt yet to constitute fast track court for trial of rape accused   Call for wholesale fish market to Goan traders

CII Financial Distribution summit held

Story: the | goan | 08th December 2017, 07:50 Hrs

PANAJI
Digital, disruptive technologies present phenomenal opportunity to enhance reach and scope of Financial Services Industry. While the jury may be out on the effect of Prime Minister Narendra Modi's initiatives of demonetisation and Digital India, the impact has been positive in terms of increasing financial penetration in India - the financial services sector has gained, while Jan Dhan has introduced the vast ‘unbanked' segment of India's population to structured financial institutions.
"These initiatives have fostered increased financial penetration in India," said Sundeep Sikka, Executive Director & CEO Reliance Nippon Life Asset Management Ltd (RNAM), adding, "we have the opportunity of growing even more, by leveraging digital and disruptive technologies to do what is right for the investor." Speaking at Confederation of Indian Industry (CII) Financial Distribution Summit 2017, in Mumbai, he said.
The Summit is CII's initiative for the Financial Distribution community across the Mutual Fund, Insurance, Banking & related sectors, with the theme, ‘Redefining Distribution: Converge, Digitize & Achieve'.
Sundeep Sikka pointed out that the paradigm had changed; from a time when 90 per cent of investments in financial products like Mutual Funds were from the top 10 cities in India, the past couple of years have seen 50 per cent of investments coming from tier 2 and 3 cities. Describing the scope for growth in terms of the reach and scope of the Financial Services Industry as ‘a phenomenal opportunity', he stressed on the need to leverage technology to achieve this. "Government initiatives have created a new growth paradigm in financial services sector; we need structured distribution channels to ensure further growth," he said.
Stressing on the importance of keeping things simple, Sundeep Sikka said creators of the Financial Services products as also the distributors need to ensure that investment products were ‘simplified where complex', while ensuring that ‘simplistic things were not unnecessarily complicated'.

Related news

Senor: Tailor you can trust to dress you for an occasion

One probably assumes he will be paying a fortune for a tailored suit. A walk in one of the outlets of Senor in Goa will change that perception one carries Read more

From seeds to jewellery: An organic way of life!

Ramawatar Singh is a naturalist, who takes pleasure in collecting seeds with the help of some pieces of wires and bits of paper, he creates magic out of these simple throwaway items - but not for sale Read more

PL merchandising a huge opportunity to monetise brand: Duff & Phelps

IPL as a total business was valued at USD 5.3 billion in 2017, according to Duff & Phelps. Backed by huge fan following, the franchisees and broadcasters would look at creating additional revenue streams to leverage brand in the next few years Read more

Top News

FDA wakes up to formalin scare, talks of plan

Samples of fish, fruits and veggies to be randomly tested from markets round the year Read more

CM: 8000 jobs up for grabs by Dec

Vacancies to be filled through govt recruitment, IT Policy & CMRY Read more

Call for wholesale fish market to Goan traders

Churchill Demands check for formalin on each and every fish-laden truck entering market Read more