The core objective of the Chintan Shivir was to generate innovative ideas aligned with the national goal of Viksit Bharat@2047. Discussions centred on redefining the role of financial institutions in driving inclusive growth, economic resilience and global competitiveness.
Participants engaged in detailed conversations about strategic pivots required in banking and financial services. The focus remained on ensuring that India’s financial architecture supports long-term development while remaining agile in a rapidly changing global landscape.
Enhancing Credit-GDP Ratio and Financing Innovation
In his address, Secretary DFS Shri M. Nagaraju stressed the importance of improving India’s Credit-to-GDP ratio to sustain economic expansion. He called for making financial institutions more agile and adaptable, capable of exploring new financing models to meet emerging demands.
He emphasised that innovative financing at scale would be critical to achieving the ambitions of Viksit Bharat. The ideas generated during the sessions, he noted, would help shape a shared vision and actionable roadmap for the department and its associated institutions.
The discussions also underlined the need for institutions to adopt technology-driven processes and modern governance structures to enhance efficiency and reduce systemic risks.
Strengthening Bond Markets and MSME Financing
Dr. K. P. Krishnan, former Secretary, Ministry of Skill Development & Entrepreneurship, highlighted the necessity of expanding India’s financial infrastructure. He advocated for the development of more GIFT-like financial hubs, strengthening of the bond market and lowering the cost of financial intermediation.
Shri Amitabh Kant, former CEO of NITI Aayog, focused on the crucial role of banks in financing MSMEs. He proposed the idea of “Jan Vyapar” on the lines of Jan Aadhaar to formalise and empower small businesses. He also called for rule-based instruments to further reduce the cost of doing business in India.
These insights reflect the government’s broader reform agenda aimed at boosting entrepreneurship and improving ease of access to capital.
Cyber Security, Inclusion and Social Protection
A key highlight of the Shivir was its focus on banking security and financial inclusion. Experts discussed the growing importance of cyber security frameworks to protect digital banking infrastructure amid rising technological adoption.
Participants also deliberated on the goal of creating a fully insured and pensioned society by 2047. Expanding insurance penetration, designing innovative pension products and promoting financial literacy were identified as priority areas.
Several forward-thinking ideas emerged, including the concept of a “Shadow CEO” model for leadership grooming, autonomous organisational structures, and building digital trust. The notion of “knowledge half-life” — adapting quickly to evolving information — was also discussed as essential for future-ready institutions.
Building Resilient and High-Performing Teams
Beyond policy discussions, the Chintan Shivir featured sessions on top team effectiveness, mindfulness and well-being. These sessions emphasised the importance of trust, collaboration and stress management in fostering high-performing organisations.
Officials participated in interactive workshops aimed at strengthening leadership capacity and promoting a culture of resilience. The emphasis on well-being reflected a recognition that sustainable organisational growth depends as much on human capital as on financial metrics.
Financial Institutions at the Core of India’s Growth Story
The 2026 Chintan Shivir reaffirmed that India’s financial institutions particularly PSBs and public sector financial institutions will play a central role in advancing national priorities. The deliberations underscored bold ambition, transformative purpose and global aspiration.
As India moves toward its centenary of independence in 2047, the financial sector’s readiness to innovate, expand and safeguard stability will be pivotal. The Coorg conclave has set the tone for a more dynamic, inclusive and globally competitive financial ecosystem aligned with the Viksit Bharat vision.