PINAKI MAJUMDAR
Jamshedpur, July 24: XLRI Jamshedpur successfully conducted its Digital Transformation Conclave- ReEnvision 2023: “India’s Digital Public Infrastructure and Fintech.”
The Conclave Committee of XLRI Jamshedpur, PGDM (GM) Batch 2023-24 hosted the event.
The conclave started with the inaugural address by Fr. S George, director, XLRI Jamshedpur and Sanjay Patro, Dean, Academics.
Fr. S. George addressed the audience and thanked the speakers for taking the time to interact with the students of XLRI PGDM (GM).
He inaugurated the event by inviting the speakers to initiate an exchange on topics of Finance, Technology and Leadership leading to an effective exchange to inspire and transform the student’s mindset.
Sanjay Patro addressed the audience and thanked the speakers for taking the time and committee members involved in organizing the ReEnvision Conclave.
During the Conclave, Paroma Chatterjee, CEO India, Revolut, delivered a captivating keynote on India’s digital transformation, highlighting her pioneering efforts in creating the first mobile wallet license, empowering the unbanked in flood-prone regions. Introducing “MAJA” – Mobility, Aadhar Card, Jandhan Bank Account and the Account Aggregator system, she revolutionized digital transactions.
Chatterjee showcased the success of AADHAR for digital identity verification and its impact on small-scale vendors’ business expansion.
She emphasized P2P money transfer and digital lending supporting MSMEs’ growth.
Her insightful discourse showcased India’s digital progress and its significant benefits across diverse sectors.
The event moved ahead into the panel-discussion themed on the Topic “Is Indian Fintech Ready to Conquer the World?” by Lincy Therattil, Head of Open Innovation & Fintech Platform – Rise India, Barclays: Lincy Therattil highlighted the importance of financial inclusion and the impact of localized solutions tailored for the Indian market.
Vaibhav Tambe, Founder & CEO – TransBnk: Mr Tambe highlighted India Stack as a robust infrastructure and stressed the importance of new fintech products.
Keynote speaker Lalitha Nataraj, Head- Digital Partnerships, IDFC FIRST Bank, highlighted the implications of the Indian Finance Stack in her address.
Comprising three layers – the Identity Layer, Payment Layer and Data Layer, the system prioritizes privacy by collecting minimal data with explicit consent sharing.
The Digital Payment Infrastructure (DPI) enabled by the Finance Stack positively impacted the finance, agriculture, health and logistics industries. It resolved challenges, eliminating the need to visit banks physically, and the AADHAR-owned API played a crucial role in offering diverse services.
The next segment was the panel discussion on the topic – “Indian Digital Economy – The Golden Age of India”, where distinguished panellists shared their insights and views over a series of questions.
The conclave concluded with a vote of thanks.
