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NAFCUBNATIONAL FEDERATION OF URBAN COOP. BANKS & CREDIT SOCIETIES LTD.B-14, 3 rd Floor, A- Block Shopping Complex, Naraina Vihar, Ring Road, New Delhi-110028,Telephone : 91 – 11 – 25771170 , 25770108 Fax : 01 – 11 – 25779710MESSAGEI am extremely happy to note that NAFCUB and B2B have come together to organise a seminar for urbancooperative banks on the subject “ Beyond Conventional Banking: Critical for Survival & Growth” inMumbai.Banking sector across the world has never before seen such disruptive changes in the financial sector as isbeing witnessed in the last, say, 3 to 5 years. These disruptive changes are driven by technologycommunication that has simply turned the life of every individual on its head. Nothing is now as was before.In this context, the ‘conventional’ banking system , of which urban cooperative banks are an integral part,has been going along at a comfortable pace over the decades, seeing and absorbing slow and steady changesin relative comfort zone.Banking sector comprising of public sector banks, private sector banks,( old and new),cooperative banks andothers forming the conventional banks doing conventional banking have been virtually stormed by the newfin-tech companies who have appeared in the scene and have rewritten many of the norms of bankingservices. They popularly proclaim themselves as technology companies who ‘also do banking’.Bigger commercial banks have now embarked upon looking seriously ‘beyond conventional banking. Theyare large enough and have the financial resources to reinvent themselves in a manner they can survive thedisruption and grow.For smaller cooperative banks it is a big challenge. In fact, it is an existentialist challenge which they canface if only they come together and network themselves in a meaningful way. The visible challenges are ofadoption of ever changing technology, investing in cyber security measures, investing in manpower that isequipped to cater to needs and aspirations of today’s youth, without whose participation and patronage, thecooperative banks will become irrelevant and working further on their traditional strength of local feel andfocus on catering to those sections of society which are not able to access mainstream banks easily.I am sure the seminar will focus on all these important issues.H K PATILCHAIRMAN, EMERITUSNAFCUB6 B2B INFOMEDIA 3 RD ALL INDIA UCB SUMMIT 2019
NAFCUBNATIONAL FEDERATION OF URBAN COOP. BANKS & CREDIT SOCIETIES LTD.B-14, 3 rd Floor, A- Block Shopping Complex, Naraina Vihar, Ring Road, New Delhi-110028,Telephone : 91 – 11 – 25771170 , 25770108 Fax : 01 – 11 – 25779710MESSAGEThe seminar would be doing a great service to the urban cooperative banking sector if it could bring hometo the participating bankers importance of the changes taking place are beyond the usual banking we allare used to and also make them understand that this realisation is in fact most critical for survival and futuregrowth of the cooperative banks.“Beyond Conventional Banking: Critical for Survival & Growth” is a theme that could not have been moretimely in the present day context for our sector, and I must applaud NAFCUB and B2B Infomedia forchoosing the subject.Among all the segments of banking system in the Country, urban cooperative banking sector is in possessionof largest number of banking licences and that too of ‘universal banks ‘, which per se is far more valuablethat the licences given to operate narrow banks like ‘payment banks’ and ‘small finance banks’.Therefore, it is all the more important that we face the fury of disruptive banking forces that are threateningto sweep away the conventional banking into oblivion. Most of our banks are small and are at risk of beingtoo fragile to meaningfully face the future and its challenges.We in NAFCUB have realised that large number of our urban banks need strong support and put forward aproposal to RBI for the sector to promote its own umbrella organisation that will be able to steer themthrough the disruptive changes that we are going through in the financial sector across the world. Theapproval of RBI is expected to be conveyed soon and it will be a challenge to the sector to promote and putin place a financially strong and professionally managed entity as its umbrella Organisation at the earliest.I am sure that the deliberations in the seminar will throw up suggestions that will help the banks informulating policies and drawing up roadmaps that will help them to think beyond the conventional bankingthey have been engaged in all along and to meet the challenges of newer and more tech savvy financialinstitutions in coming days.JYOTINDRA MEHTAPRESIDENTNAFCUB3 RD ALL INDIA UCB SUMMIT 2019B2B INFOMEDIA 7
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PIONEER IN CYBER SECURITY78 B2B INF
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