Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. AP Hota, Former MD and CEO, NPCI
- Mr. Manish Jeloka, Former Executive Director, Wealth, Market products and sales at Standard Chartered Bank India
- Mr. Narayan Rao, Chief Services Officer, Suryoday Small Finance Bank
- Mr. Bipin Kabra, Co-founder & MD, Eunoia Financial Services Pvt. Ltd.
- Mr. Rajesh Bhojwani, CEO at Vakrangee Limited
- Mr. Rishi Prakash Mantri, Head of Business Solution Group, ICICI Bank Housing Finance Company
- Mr. Murtuza Jadliwala, Head of Software Development at Indusind IT
- Mr. Vijay Iyer, Deputy Vice President at RBL Bank
- Mr. Abhishek Arun, Senior Vice President, Paytm
- Mr. Dhruv Shankar, Head-Digital, Standard Chartered Bank
- Mr. Shreejith Menon, Senior Director at IDFC FIRST Bank
- Mr. Neeraj Chandra, Head of Operations and Technology, Abu Dhabi Commercial Bank
- Mr. Shashank Chowdhury, Former Managing Director -India, Infinite Zero OR Independent Consultant
- Mr. Tanmay Patel, Project Manager, BSG IT Soft Pvt. Ltd.
- Mr. Abhishek Mody, Former Associate Director-Payment & Digital Initiatives, IDFC Bank
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Just imagine if the rumour is floating about particular Bank ‘X’ on Friday evening. This bank remains closed on the Saturday and Sunday ie weekends. In such a scenario can electronic payment system like NEFT which is now 24X7 lead to run on deposits of the Bank”X” over the weekend. Such rumour can lead to Customer panic and they will use NEFT 24×7 to transfer monies into another bank. Isn’t this a possibility?
Well, Rumours have been known to cause genocides. Again it’s a theoretical question which is quite possible but also there are ways and means to tackle this. One of the Risk Mitigation Routine for all banks would be to assess the market reputation on a continual basis and put in place transactional restrictions to prevent a run. But if a bank has a rumour running against it the efficacy of its management is already suspect.
What are the mitigation measures banks can take in case such a situation arises? Register & Read the complete discussions Please register to unlock the full content!