Banks, FIs must not let growth considerations overtake risk assessments: CII

Sanjiv Bajaj, President, CII, and Chairman & MD, Bajaj Finserv Ltd, emphasized the importance of trust for banks and financial institutions and said that good promoter-led companies do not let growth considerations overtake risk assessments and hence perform well in the long term. He was speaking at the CII Western Region Annual Meeting 2023 alongside the Conference on 'The Next Phase of Globalisation'. "Creating global brands is about having attitude and passion. With the launch of the PLI scheme, global companies are coming into India and this is a shot in the arm for globalisation," he added. On the progress of digitisation in the financial sector, he said that the digital public goods created by India has seen adoption at global levels at low costs. Piruz Khambatta, Chairman, Rasna Pvt Ltd, while talking about food processing as a sunrise sector said, "India must follow the 'One Crop - One District' policy, which will be beneficial for the farmers, consumers and MSMEs." In reference to the International Year of Millets, he said that CII is working on the GI for Indian millet.