CHENNAI : The country needs a robust financial system as part of creating a strong economic base in the wake of digital transformation happening everywhere, said Anantha Nageswaran, Dean, IFMR Graduate School of Business, KREA University, on Friday.Delivering a special address at the 9th edition of India Finance Forum’s meet on ‘Driving performance, business value in digital world’ organised by Confederation of Indian Industry (CII) here, he stressed the need for creating a robust financial architecture in the country.
He said regulators should have the capacity to intervene when any market crisis happens and this can be possible only if a rational economic behaviour exists at all levels of financial system.R Seshasayee, past president, CII and Chairman, IndusInd Bank, in his keynote address, said India has to leapfrog in terms of technology adaptation in various fields, including agriculture.
“There is so much of digital technology available and India can leapfrog in that aspect. There is a need to create the right kind of ecosystem as internet explosion, block chain and other technologies are at an inflection point now,” he said.
S Mahalingam, chairman, CII Southern Region, Economic Policy Sub-Committee, said State budgets always showed revenue deficit and surplus in capital account and this should change.