REPORT
By Sri Sudharshan M
Director โ Communications
PMO Global Alliance India Hub
Bengaluru, India
ย News Snippets
- PMO Insights โ April 2024
Topic: ๐๐๐๐๐ง๐ญ ๐๐๐ ๐ฎ๐ฅ๐๐ญ๐จ๐ซ๐ฒ ๐๐ก๐๐ง๐ ๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ง๐๐ข๐๐ง ๐ ๐ข๐ง๐ญ๐๐๐ก ๐ฌ๐ฉ๐๐๐: ๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐๐ซ๐จ๐ฃ๐๐๐ญ ๐๐๐จ๐ง๐จ๐ฆ๐ฒ
The PMOGA India Hub, in collaboration with the PMI – North India Chapter and the India Blockchain Forum, hosted a groundbreaking panel discussion on the recent regulatory changes in the Indian Fintech space and their impact on the project economy.
Speakers:
The event featured distinguished personalities, bringing a wealth of experience and expertise.
- Prasanna Lohar, the CEO of Block Stack and the Founder of India Blockchain Forum.
- Dharmender Jhamb, Partner of Financial Services-Consulting at Grant Thorton Bharat LLP
- Richa Mukherjee, the Co-Chair of the National Fintech Council at ASSOCHAM and the Director of Public Policy & Corporate Affairs at PayU
Prasanna Lohar highlighted that the Fintech and banking sectors are evolving, and the Reserve Bank of India (RBI) has a long-term vision from both the sustainability and operational aspects. He mentioned that the new rules and regulations have been introduced to strengthen the banking ecosystem, with the intent of creating a robust financial ecosystem that ultimately benefits the end-user or the banks.
Dharmender Jhamb explained the Self-Regulatory Organization (SRO) framework during the panel discussion. He emphasized the importance of this framework from the standpoint of program management and risk mitigation measures. Jhamb stated that the SRO layer between the organization and the RBI will establish a supervision framework that the members of these SROs will be required to follow. This will help standardize the services delivered to customers or merchants by Fintech companies, ensure the implementation of a code of conduct, and establish consistent fraud prevention and dispute resolution methods. Jhamb viewed this as an appreciable effort by the RBI to bring non-regulated entities under the purview of corporate governance.
Richa Mukherjee shared her views on the significant changes the Fintech sector has undergone in recent years. She highlighted that the policy-making dynamics have also evolved, and all Fintech companies need to set up a robust risk governance framework. Mukherjee emphasized that this is critical from the standpoint of measuring and reporting in a consistent manner. She also noted that regulatory oversight has come into action while fostering continuing innovation.
Overall, the panel discussion provided valuable insights into the evolving Fintech landscape in India, the regulatory changes, and the strategies for navigating this dynamic ecosystem. The experts emphasized the positive and proactive role played by the RBI in terms of inclusion and creating awareness towards digital payments, while also highlighting the need for Fintech companies to adapt to the changing regulatory environment and strengthen their risk governance frameworks.
Moreโฆ
To read entire report, click here
Sudharshan, S. (2024). Project Management Update from PMOGA India Hub; report, PM World Journal, Vol. XIII, Issue V, May. Available online at https://pmworldlibrary.net/wp-content/uploads/2024/05/pmwj141-May2024-Sudharshan-PMOGA-India-Hub-report.pdf
About the Author
Sri Sudharshan.M
Bengaluru, India
Sri is a Project Management professional with CSM, SaFe Agilist 5.0, CBE, ITIL and SSGB certifications. He has more than sixteen years of experience in project management, PMO and has been responsible to deliver digital transformation projects. He holds a bachelorโs degree in public Administration, Masterโs degree in Business Administration and an Executive Management Development Program in Project Management & Industry revolution 4.0 from Indian Institute of Management, Kozhikode.
On a voluntary basis, he has been working for the PMO Global Alliance India Hub since July 2021 and he was elevated as Director of Communications from February 2023. His responsibilities include communication, public relations, and collaborations.
Sri can be contacted at indiahub@community.pmoga.world or via LinkedIn
