The guest speaker was Mr. Gopal Chandra Mondal (CFO & Director -Financial Control, Tax & Regulatory in IDFC).

Mr. Gopal shared that India’s banking sector is expanding rapidly and has the potential to become the fifth largest banking industry in the world by 2020 and third largest by 2025.He shared how Services provided by banks have expanded rapidly in the last decade. In addition to the traditional “savings and loans”, banks started providing a wide gamut of financial services likes insurance, investment, asset management, etc.

Mr. Mondal explained how in amidst the signs of progress; the Indian banking sector has been facing multiple challenges in recent times like - Non Performing Assets, Losses in Rural Branches and over-dues, Competition from Non-Banking Financial Institution, Advance to Priority Sector, Political and Bureaucratization pressure.

Mr. Gopal has also explained that through partnerships and acquisitions, banks are trying to integrate financial services, wallets, payments, shopping services etc., there by adding depth to their financial services.

In order to achieve the goal of faster and inclusive growth, it is high time the government and banking industry undertake a comprehensive relook into the existing policies and structures.

During his discussion, he shared his diverse experience with students. At the end of the corporate lecture, a special vote of thanks was given to him.