Vamnicom, the ace co-op training institute in the country conducted sensitization program on Fintech last week at its Pune based headquarters, in which co-operators connected to co-op banks of various states participated.
According to a press release sent by Vamnicom “More than 30 participants from cooperative banks of different states like Maharashtra, Karnataka, Tamil Nadu, Madhya Pradesh, Uttar Pradesh, Gujarat, Chhattisgarh attended the program.”
The program was sponsored by Nabard. Dr Amrendra Sahoo, Former Regional Director RBI was the mentor and key resource person of this program. Inaugural address was given by Raymond Disouza , DGM NABARD Pune.
Participants were exposed to new developments relating to “FINTECH” i.e. Financial Technologies emerging in the field of banking & finance. The program was designed and implemented by Dr.D.V.Deshpande, Professor Vamnicom.
The program was highly appreciated by the Chief Guest and participants for highlighting different aspects of “FINTECH”. Fintech is loosely used for “Finance” and “Technologies” and is aimed at tackling the emerging challenges in the banking and the financial sectors which are undergoing technological disruptions like never before.
“In a country like India, Fintech Revolution is gaining momentum rapidly. New technologies like mobile wallets, artificial intelligence and block chain, ever rising access to mobile communications etc. are leading to huge investments in Fintech Start- ups”, reads a press release sent by Vamnicom.
VAMNICOM is a premier national institute for cooperatives. It caters to the emerging training needs of the cooperative sector through Management Education, Training, Research & Publication, and Consultancy etc.
It is said that the states like Maharashtra and Andhra Pradesh were the first ones to have developed Fintech Policy framework but the remaining states continue to be laggards. RBI too constituted an expert panel to work on regulatory requirements of Fintech and Digital Banking so as to further mainstream this business and align it with the Indian Financial Sector.
The program is designed to sensitize executives of the banking and finance sectors to the emerging trends of Fintech and to enable them to utilize them for creating innovative business models, the release underlines. Discussions on digital wallets, mobile banking, block chain etc and interactions with some Start-ups in this space have also been planned in the programme.