Visakhapatnam: Seminar on technological transformation in banking held
Participants at the seminar held as a part of Jan Bhagidhari in Visakhapatnam on Monday
Visakhapatnam: As a part of the Jan Bhagidari, a curtain raiser event held here on Monday, Reserve Bank of India, Andhra Pradesh Regional Office organised a seminar on the topic 'technological transformation in banking- opportunities, issues and challenges'.
India has assumed the G20 Presidency from December 1, 2022 and will continue till November 30, 2023. Under the 'Finance Track' of the Presidency, the Reserve Bank of India is working closely with the ministry of finance in conducting various meetings.
The G20 Working Group meetings are being held in various cities and are attended by senior officials of G20, Central bank personnel, government officials, and international organisations.
With the second Infrastructure Working Group Meeting to be held in Visakhapatnam on Tuesday and Wednesday, the events are aimed at taking G20 to the people of India from all walks of life and making it action oriented, which is also reflected in India's G20 theme 'VasudhaivaKutumbakam' (one earth, one family, one future).
The objective of the seminar was to educate the participating banks about the importance of technology in the banking sector and technological transformations which were taking place in the banking sector, both internationally and locally.
As a part of this seminar, experts from IDRBT, Hyderabad and HDFC Bank were invited to cover the changing technological landscape in banking industry.
The speakers shared their own experience with the changing technologies and the way it benefitted a large proportion of the Indian population. They also spoke about the innovations in payment system aided by technology which the Indian banking sector had pioneered. Further, they apprised the participants about looming cyber threats which accompanied the usage of new technologies and the preparedness required to counter such challenges.