Financial regulators in India have helped build one of the world’s strongest banking and financial systems that has sailed past international crises. It is time that banking leaders lived up to the challenges by adopting new technologies in operations and customer service, and also embracing appropriate business models. It is also time for microfinance institutions and non-banking financial companies (NBFCs) to adapt to the digitized economy.

This review paper explores the subject under the following topics;

• Stressed Assets Management
• Insolvency & Bankruptcy
• Ind AS Impact on the Banking Sector
• GST and its impact on Financial Services
• Digital Banking and the Future
• Managing Risk during the Shift

Risk Governance is the paradigm under which an organization can take steps towards achieving risk related objectives. Strong risk governance begets an impactful risk culture. Risk culture mandates the same message to be consistently communicated across the entire organization and forms the guiding principle for every department and its employee’s responsibilities. Such a coherent and consistent risk culture is critical to an orchestrated functioning, especially for large banks.

We hope that this CII-Deloitte report on Paradigm Shift: Future Strategies will help industry understand the changing landscape of banking better.