Regulatory compliance requirements will drive future technology spending”
Kalpesh Desai, CEO, Agile Financial Technologies, spoke to Nivedan Prakash about trends in the banking industry and his company’s foray into the Indian microfinance business.
Has the Indian banking industry come of age and what role has IT played in it?
I think we must give credit to the RBI for inducting IT into Indian banks through its two committee reports on the subject (known as the Rangarajan Committee reports) in the 1980s, which was characterized as an era in which Indian banks embraced IT. The growth driven by expansion to untapped geographies continued unabated, resulting in near backlogs of management information systems (MIS).
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