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Informist, Tuesday, Mar. 3, 2026

NEW DELHI – The financial sector will have to play a pivotal role in transforming the quality of daily life in terms of better jobs, stronger households, safer financial choices, and resilience when shocks occur, Reserve Bank of India Deputy Governor Swaminathan J. said. "It is about whether growth feels real, broad-based and inclusive," he said in his keynote address at the Third International Finance and Accounting Conference at the Indian Institute of Management, Jammu, on Friday.

"Finance will have to play a pivotal role in this transformation. It will have to mobilise savings, allocate capital, and manage risk. Done well, it will support enterprises and households across the country," he said.

To the budding financial professionals attending the conference, he said, "Leadership in finance is not just about intelligence. It is about judgement. It is about discipline. It is about what you choose to reward, what you choose to question, and what you choose to fix early."

He urged them to respect the customer to reduce disputes, lower reputational risk, and sustain participation in formal finance. Endeavour should be made to design and sell products that are suitable, transparent, and fair, he suggested. "The best leaders prevent harm before it occurs. They do not wait for problems to become headlines," he said.

Highlighting the importance of evaluating the financial statements, he said it is important to look beyond profits to the quality of assets, the stability of funding, the adequacy of buffers, and the concentration of exposures. "The best leaders use good times to build buffers, improve controls, and strengthen governance. They ask uncomfortable questions when everyone else is celebrating." 

He also said that it is important to foster an environment where teams can raise concerns without fear, where risks are discussed honestly, where numbers are not forced to look good.  End

Reported by Sagar Sen

Edited by Vandana Hingorani

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