Dun & Bradstreet India honours outstanding performers of BFSI sector

Dun & Bradstreet (D&B), the world’s leading provider of global business information, honoured exemplary performers of India’s BFSI sector at the ‘Dun & Bradstreet BFSI Summit 2018’.

The annual event held here witnessed State Bank of India and HDFC retain their last year’s position in the India’s Leading Bank (Public) and India’s Leading Bank (Private) categories, respectively. CITI Bank clinched the laurel under India’s Leading Bank (Foreign) category.

Under the categories pertaining to insurance sector, Life Insurance Corporation of India was adjudged as India’s Leading Life Insurance Company (Public), while the award under the India’s Leading Life Insurance Company (Private) category was won by SBI Life Insurance Company Limited.

The event witnessed the unveiling of ‘India’s Leading BFSI Companies 2018’ publication which served as the base universe for the BFSI awards 2018.

Releasing the publication and highlighting the contribution of the BFSI segment in the economic growth of the country, Manish Sinha, Managing Director, Dun & Bradstreet India commented, “During last year, the BFSI sectors has contributed close to 18% to the incremental value addition in the economy. Recognizing the key role played by the sector, we are pleased to present the 10th edition of “India’s Leading BFSI Companies”. The first edition, released in 2008, profiled 223 companies with an aggregate total revenue of Rs. 5.6 trillion. A decade later, the 2018 edition featured 334 companies with more than 4 times increase in the total revenue to Rs. 23.3 trillion. The BFSI sector has evolved over this period to a more agile and technology-driven sector. In the next 12-24 months, there are three actions that the sector needs to execute: extending the reach of the organised BFSI sector towards full financial inclusion, tackling poor asset quality, and recapitalization of struggling public sector banks. We are hopeful that some of the recent initiatives taken by the RBI and the Government will help the BFSI sector and make it stronger”.

The event also saw thought leaders from the BFSI segment deliberating if blockchain is the next incipient technology that will redefine the BFSI sector. The panel moderated by Anand Iyer, Director, Operations, Dun & Bradstreet, India encompassed S. K. Bhasin, Chief General Manager (Chief Technology Officer), State Bank of India; Sankarson Banerjee, CTO Projects, National Stock Exchange of India; Avneesh Pandey, General Manager, Securities and Exchange Board of India (SEBI); S. Raghunatha Reddy, Executive Vice President & Head – IT, UTI Asset Management Company; Alpesh Karnik, Senior VP – Digitalization & Sales Force Automation, ICICI Prudential Life Insurance.