(Lto R) R Doraiswamy, CEO &MD, LIC, CS Shetty,Chairman, SBI and M Nagaraju, Secretary, Department of Financial Services(DFS) at Chintan Shivir, 2026, organised by the Department of Financial Services(DFS) in Coorg
The primary objective of Chintan Shivir, 2026,organised by the Department of Financial Services,was to encourage fresh perspectives and creative ideas towards achieving the goal of Viksit Bharat@2047 and the role of PSU financial institutions
Coorg/Karnataka:At a time when domestic financial sector services have seen private sector players rapidly expanding their market share with sharp competitiveness, Chintan Shivir, 2026, organised by the Department of Financial Services(DFS) reasserted that the future of Indian financial institutions will be shaped by bold ambitions and transformative purpose, with Public Sector Banks/Public Sector Financial Institutions(PSBs/PSFIs) including PSU insurers playing a central role in advancing national priorities and aspiring to emerge as institutions of global standing.
A Chintan Shivir was held at Coorg, Karnataka on 13th and 14th February 2026. The event was attended by M Nagaraju,Secretary DFS, CS Shetty, chairman, State Bank of India, R Doraiswamy, CEO &MD, Life Insurance Corporation(LIC), Girija Subramanian,CMD, New India Assurance, all senior officers and departmental staff, apart from the senior leadership of PSBs, Public Sector Insurance Companies(PSICs)and Developmental Financial Institutions(DFIs).
In his address,M.Nagaraju,Secretary, DFS, stressed upon the need of enhancing the Credit to G.D.P ratio, making our financial institutions more agile and exploring new ways of financing at a larger scale in line with the goals of Viksit Bharat.
The Secretary stated that the ideas generated during the session will pave the way for a shared vision and plan of action for the Department and its financial institutions..
The primary objective of this shivir was to encourage fresh perspectives and creative ideas towards achieving the goal of Viksit Bharat@2047 and the role of financial institutions.
A number of ideas including replicating the concept Shadow CEO, autonomous organisation, digital trust, knowledge Half Life, innovative ways of increasing investment, exploring new insurance and pension products, increasing financial literacy and ways of becoming more resilient financial system in the dynamically changing global order, emerged during discussions.
Experts from public policy as well as practitioners from various fields of financing presented their views and ideas, as well as reflected on the department’s role in fostering collaborative and innovative solutions for public policy challenges in the areas of banking and finance.
The event witnessed active participation from all stakeholders, with vibrant discussions focusing on the pivots that the banking and other financial services participants need to take in the strategic context of Viksit Bharat.
Other eminent experts, panellists and participants also discussed in detail on a range of topics such as Banking & Cyber Security, Financial Inclusion, ensuring a fully insured and pensioned society by 2047.