Amity School of Insurance, Banking and Actuarial Science (ASIBAS), Amity University Uttar Pradesh (AUUP), Noida Campus organized “Banking, Financial Services and Insurance (BFSI) Summit-2025” at Amity University Uttar Pradesh, Noida Campus, in association with SIDBI, LIC of India, Bank of Baroda and Punjab & Sind Bank. The aim of the Summit was to foster dialogue on emerging opportunities, challenges, and transformative technologies shaping the future of BFSI and the role of BFSI in the growth of Micro, Small and Medium Enterprises during Amrit Kaal.
Deliberating upon the role of technology in the Banking Sector, Mr. Swapnil Sahil, Deputy General Manager, Small Industries Development Bank of India (SIDBI), asserted, “Under our Hon’ble Prime Minister’s mission of Digital India, the first GST App was launched, in addition to many other apps and technologies. Technology has made data easily accessible to the banker, making data-driven banking more precise, accurate and user-friendly, with the help of AI-enabled programmes. New technologies need to be developed by the young generation which can further enhance the growth of the sector.”
Discussing the benefits of Blockchain Technology, Dr Naushad Alam, Sr. Vice President, Axis Bank, averred, “Blockchain technology is transforming the banking and insurance sectors in various ways. It has enhanced Payment Systems by streamlining cross-border payments, reducing costs and increasing transaction speed. It has revolutionized lending and credit by automating credit approval processes, reducing operational costs, and providing reliable credit history. In addition, decentralized ledger technology has enhanced security, making it resistant to fraud and hacking, resulting in increased transparency, reduced costs and improved efficiency.”
Highlighting the role of AI in the finance sector, Mr. Mohinder Kumar, Vice President & Head Franklin Templeton Mutual Fund, opined, "It is easy to make money, however, it is very difficult to grow your money. One must be aware about various financial instruments and policies such as mutual funds, bonds, etc., so that they take the right decision of investing their money. Many people rely on AI to decide where to invest their money, however, one can only take ideas from AI but ultimately one needs an expert and human intervention to invest their money wisely, in the right way.”
Sharing his words of wisdom, Dr. Ashok K. Chauhan, Founder President Amity Education Group, said, “Students who have chosen Banking, Financial Services and Insurance (BFSI) Sector for their career have made the right decision since it is a very important sector, which contributes to the growth of the economy and has unlimited opportunities. Therefore, students must learn new skills in this field, thereby contributing to ViksitBharat@2047.”
Speaking about ESG-based loans, Mr. Rajat Chatterjee, Executive Director, Prowess Advisors, opined, “ESG-based loans, also known as Environmental, Social, and Governance loans, are loans which evaluate a borrower's sustainability performance. Green Loans, which are specifically designed for environment-friendly projects, such as renewable energy, have strict criteria, requiring borrowers to report on the use of funds and the project's environmental impact, thereby ensuring environmental sustainability.”
Dr. Balvinder Shukla, Vice Chancellor Amity University Uttar Pradesh, stated, “The banking and insurance sectors in India are experiencing significant growth, driven by government initiatives, technological advancements, and increasing demand for financial services. India is emerging as a start-up and manufacturing hub, wherein the financial sector will play a key role. Digital banking and insurance platforms are becoming increasingly popular, enhancing customer experience and financial inclusion. However, challenges such as financial fraud, risk management, fiscal deficit need to be addressed by the BFSI Sector, which can lead to more transparency and security.”
Welcoming the guests, Mr. A. P. Singh, Director, ASIBAS, said, “The Summit will highlight the role of banking, financial services and the insurance sector in strengthening financial resilience. It will also help in exploring how innovations in banking, financial services, insurance products, digital payments, digital currencies, digital claim processing, and customer-centric policies can improve risk coverage and trust.”
During the Summit, Panel Discussions on topics such as “Banking & Finance Industry in Amrit Kaal – A Vision” and “Insurance Industry in Amrit Kaal – A Vision” were organized, wherein industry leaders and financial experts shared their insights.