BS BFSI summit highlights: 'Data science can help pre-identify those vulnerable to cyber fraud'

Business Standard BFSI Summit 2024 highlights: Catch all the updates related to the BFSI summit here

11:40 AM

Nothing can stop a fund house with a good product from growing, says Edelweiss's Radhika Gupta

"There are 45 mutual Funds and 20 people waiting to get licenses most of whom are not bank backed. I don't think distribution is only bank backed. It exists in lots of different cohorts. I believe if you are a fund house that has a good product and out there with digital platforms nothing will stop you from growing because consumer has taken purchasing power in their hands," says Radhika Gupta.

11:31 AM

Retail investors' AUM is larger than institutional investors AUM: HDFC MF's Navneet Munot

"We need domestic investors and we also need global investors. The percentage from household savings towards equity is still small, so we have a long way to go. We need local investors and also global investors. Local investors have the needed stomach, larger and larger flows are coming from SIPs, this gives us more confidence of a constant flow of funds," Navneet Munot said.

11:26 AM

In the next few years, mutual fund industry will become the largest distribution industry: A Balasubramanian

11:09 AM

Biggest satisfaction is when we see money come from smaller towns: HDFC MF's Navneet Munot

Looking at the pace of growth for the last twenty years, I have no reason to believe the next will not be better, says Navneet Munot 

11:05 AM

Update: should not take more than 3-4 years to reach Rs 100 trillion AUM, says SBI Mutual Fund's DP Singh

10:57 AM

Regulators should not come across as regulatory duopolies focused on private returns: Gopalakrishnan

"We have debated this in our secondary market Advisory Committee, where some ideas have been proposed, in a sense, some form of demerger of the equity Stock Exchange and the equity Clearing Corporation may perhaps be a way out, though there are some legal and regulatory challenges to navigate. We will come out with a public consultation on all this shortly and seek your considered views in this regard,"  says Ananth Narayan Gopalakrishnan. 

10:41 AM

Anamoly that CCs are 100% owned by parent exchanges: Ananth Narayan Gopalakrishnan

"In India, while exchanges and depositories are allowed to be listed, our regulations clearly state that clearing corporations will not be allowed to list. However, there is an anomaly here in that currently, our clearing corporations or CCs are 100% owned by their parent exchanges. When the parent exchange lists, therefore, their CCs are also de facto listed, in that the shareholders of the parent exchange consider the consolidated financials of both the exchange and the CCs," says Ananth Narayan Gopalakrishnan, Sebi member.

10:35 AM

Risk of a potential race to the bottom when it comes to MIIs: Ananth Krishnan

"There is an actual risk or a perceived risk of a potential race to the bottom with compromise on compliance or in their role as a first line regulator of their members , particularly as MII compete for clients whom they must also regulate. There is the potential that investments into appropriate security, technology, risks, and operations are deprioritized, over commercial outcomes. There is the potential that products or securities are launched and persisted with without adequate safeguards around investor protection, suitability and appropriateness. Not only must all this be avoided, they must also be seen to be avoided," said today.

10:26 AM

MIIs first line of defense in ensuring investor protection, says Ananth Krishnan

"Our MIIs provide the critical superstructure for our capital markets. particularly over the last three decades, guided by policymakers and regulators, they have played a crucial and pioneering role in growing our capital markets ecosystem. MIIs are the first line of defense charged with ensuring investor protection and market integrity. Amongst other things, they are required to ensure adequate disclosures by issuers, conduct appropriate surveillance to deliver a free and fair market bereft of unfair trading practices, manage risk and operations to deliver smooth clearing and settlements, monitor the conduct of brokers and other intermediaries and ensure that market technology platforms and ledgers are fair, secure, reliable, and resilient," says Ananth Narayan Gopalakrishnan, Sebi member.

10:23 AM

BS BFSI summit: Must continue to strengthen governance framework, says Ananth Gopalakrishnan

"I will first make the case that we must continue to strengthen their governance framework, ensure that they are staffed by high quality risk compliance and technology personnel, and further strengthen institutional mechanisms to ensure that they can appropriately deliver on the core public interest mandate of the market infrastructure institutions (MIIs)," says Ananth Narayan Gopalakrishnan, Sebi member.

10:01 AM

BFSI Summit Day 2: Ananth Narayan Gopalakrishnan, Sebi member, to present keynote address shortly

9:50 AM

BS BFSI summit 2024: Day 2 of BFSI summit to begin shortly

9:26 AM

Catch all the latest developments at the Business Standard BFSI Insight Summit 2024