“For effective and sustainable policies & regulations, it is important to have inclusive decision making through closer engagement with Market Community”
Indian economy in general and the BFSI sector in particular have grown by leaps and bounds in the last two decades. This growth, combined with the resultant expansion of the market system, has been nothing but explosive. It has sought to build new market infrastructure institutions, overseen introduction of complex products and creation of downstream business opportunities. However, it still remains to be seen whether this growth has sufficiently expanded the scope of its work and impacted the core architecture of our markets in a sustainable manner.
Indian Financial Markets need to look around to learn and understand the impact that BFSI sector has left on global economies. Marquee and distinguished global financial institutions, some more than a century old, have been bitten the dust because of misplaced confidence, non-responsive governance, unsustainable practices but most of all, lack of QUALITY LEADERSHIP. While one recognizes the serious efforts made by economies globally since the 2008 crisis in terms of improved systemic structure, our task is far from exhausted. QUALITY LEADERSHIP has and still remains a challenge.
The challenge in the new global order for emerging economies such as ours is to create a sustainable market system that balances the growth aspirations with equitable and shared responsibilities and benefits. This can only be achieved by harnessing the vast reservoir of knowledge, wisdom and information that already exists through public-policy-partnerships so that it can support self-sustaining economic, social and cultural progress for every individual and institution. For economies to reach this stage of self-sufficiency it is imperative that the Leadership Culture & Quality in our markets is groomed for a more responsible and defining role.
Founded in 2012, the IFS Group is a pioneering community-centric initiative that seeks to influence Thought Leadership Transformation in BFSI sector. It will help bridge the gap between BFSI community professionals, market leadership, regulations and policy in critical business areas impacting this sector. The platform is designed to establish cross-business and market-wide network of Communities and Thought Leaders.
IFS Group has successfully brought together some of the leading practitioners and market experts from around the BFSI sector to collaborate on this program. It will influence and impact policy making and strengthen market institutions in closely aligning growth with responsibility for a sustainable market ecosystem.