Latest news with #Bharat@2047
The Wire
2 days ago
- Business
- The Wire
Empowering India's Credit Evolution: TransUnion CIBIL Credit Conference 2025 Explores Inclusive Finance and Economic Empowerment
Mumbai, Maharashtra, India – Business Wire India • Credit Conference 2025 designed to drive growth, financial inclusion, and ease of doing business in India • Leaders from banking, FinTech, and policy convened to discuss data-driven credit inclusion and the path to a credit-ready India • Expanding creditworthiness to support India's financial goals under the Bharat@2047 vision was a key theme As India's credit growth reaches new segments and geographies, the focus is shifting towards enabling access to financial services supported by data-driven insights, transparency, and informed risk management. This transformation, along with collaborating to extend financial inclusion in India, saw industry leaders, policymakers, and innovators convene at the TransUnion CIBIL Credit Conference 2025 to explore how data, trust, and collaboration in the financial ecosystem are reshaping the way India lends, borrows, and builds resilience. From veteran bankers and fintech pioneers to policy architects and development finance experts, the event spotlighted voices shaping the future of India's credit lending ecosystem. Underpinning the conference was a celebration of the growth of India's credit landscape over the last 25 years, during which TransUnion CIBIL has played a pivotal role in this evolution through data, scale, and reach. Some of the most impactful outcomes of India's evolving credit landscape include: • Over 714 million individuals have gained access to formal credit, positively impacting households across the country, over the past two decades • 1,036 million consumer loans have been facilitated, including 52 million housing loans and six million education loans, in the last 25 years • 118 million women consumers in the last 10 years have entered the credit mainstream for the first time, unlocking opportunities that were previously unavailable to them • 34 million MSME loans have been disbursed in the past 25 years, powering the growth of India's future • Since 2004, more than 3,172 million credit reports issued by TransUnion CIBIL have helped more than 4,000 financial institutions make better-informed lending decisions • Retail delinquencies (balance-level, at 90 days or more past due) have improved by 130 bps in the last 10 years Speaking at the conference, Mr. M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India, said, 'Credit reporting and TransUnion CIBIL have grown together in India and the company has made a significant contribution in expanding the footprint of credit reporting in the country. Credit reporting systems today operate as a key element in the national financial architecture, encouraging greater credit access, supporting financial inclusion, enabling effective supervision, and enhancing financial stability. This silver jubilee therefore, also represents a significant milestone in TransUnion CIBIL's ongoing contribution to strengthening this framework. This also gives us an occasion to reflect on how the information gap between the credit institutions and the borrowers has been addressed over time and the possible way ahead.' Additionally, the Deputy Governor, said, 'At the heart of a sustainable credit landscape lies an empowered consumer which is enabled when we have a financially aware and literate customer. While regulations mandate transparency and awareness, the responsibility needs to be fulfilled by all of us. Financial literacy cannot be achieved through a one-time campaign; it has to be a sustained commitment for all the institutions and entities involved. The setting up of Credit Information Companies was in one sense the starting point of this journey of financial inclusion and democratisation of credit. Even as the journey continues, the role of the CICs remains integral and important in realizing the vision of total financial Inclusion.' Mr. Bhavesh Jain, MD & CEO, TransUnion CIBIL, said, 'India's credit ecosystem is becoming more inclusive, transparent, and future-ready. Reliable data empowers lenders to take strategically informed decisions which in turn support borrowers in building and strengthening their financial profiles. Our focus remains to enable all stakeholders to navigate this transformation responsibly and sustainably.' Mr. Deepak Parekh, Former Chairman, HDFC Limited, said, 'One needs to position the role of a credit bureau as one that protects the customer, works for the customer, and helps prevent the customer from getting into financial difficulties. The credit score is like a medical report—and based on the report, one is diagnosed, if required. It is true when experts say that the credit score is the mirror of one's credit behaviour. Checking it regularly is like monitoring blood pressure or cholesterol levels—a preventive financial health measure we must all adopt. Trust, and only trust, remains the most critical aspect of financial services. Customer centricity is the only differentiator among credit bureaus.' Mr. Amitabh Chaudhry, MD & CEO, Axis Bank, said, "We must invest in financial literacy, helping borrowers understand credit health and long-term financial planning. This is not just a regulatory obligation, it is a moral imperative if we want to build a Viksit Bharat. Banks, bureaus, fintechs, and regulators must work together to harvest alternate data, build smarter risk tools, and create credit systems that say 'yes' more often, responsibly, creatively, and at the speed of India's aspirations." Mr. K V Kamath, Chairman, Jio Financial Services Limited, said, "As India moves from a $4 trillion to an $8 trillion economy, the task ahead won't just double, it will expand exponentially. With a rapidly growing aspirational class and the rise of new technologies like AI, the demand for trusted, curated data will become even more critical. This marks the beginning of a new chapter for TransUnion CIBIL, one that's closely tied to India's next wave of growth,' The CIBIL Score continues to play a key role in how creditworthiness is evaluated by banks, NBFCs, and FinTechs. To enhance market transparency, at the conference TransUnion CIBIL shared deeper insights from the latest Credit Market Indicator (CMI) Report, an essential resource for lenders, economists, and policymakers to monitor credit trends in retail lending. The conference devoted special attention to one of India's key drivers for growth, the MSME sector. An MSME Day special edition of the MSME Pulse Report was shared, giving in-depth insights on credit participation and sectoral performance. The recently launched CreditVision® CIBIL Commercial Rank (CV CMR), complementary to the Company Credit Report (CCR), was also introduced. These tools help assess credit behavior across enterprises, improving underwriting accuracy and deepening access to finance for MSMEs. The conference concluded with a shared vision for building a financially confident and credit-aware India. Speakers emphasized the need to strengthen creditworthiness across a broader borrower base through improved data access, financial literacy, and ecosystem-wide collaboration. 'As India progresses towards the goals outlined in Bharat@2047, expanding the credit-ready population, especially in semi-urban and rural regions, will be instrumental in unlocking economic growth,' said Jain. 'By enabling lenders to better assess risk and empowering individuals and small businesses to build and improve their credit profiles, TransUnion CIBIL's insights continue to play a catalytic role in putting more capital in the hands of individuals and small businesses. A more inclusive credit ecosystem is not only vital for economic progress, but also foundational to a future where opportunity reaches every corner of the country.' The conference commenced with the traditional lighting of the diya, symbolizing knowledge, progress, and a shared commitment to inclusive financial growth. The ceremony was led by Chris Cartwright, CEO, TransUnion; Venkataramanan Anantharaman, Chairman, TransUnion CIBIL; Ketaki Bhagwati, Independent Director, TransUnion CIBIL; Sanjay Prasad, Independent Director, TransUnion CIBIL; Todd Skinner, President – International, TransUnion; and N.S. Kannan, Independent Director, in the presence of industry leaders and stakeholders. About TransUnion CIBIL India's pioneer information and insights company, TransUnion CIBIL, makes trust possible by ensuring each person and business entity is reliably represented in the marketplace. We do this by providing an actionable view of consumers and businesses, stewarded with care. We have developed technology and innovative solutions across core credit, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences, and personal empowerment for millions of people and MSMEs in India. We serve the financial sector as well as MSMEs and individual consumers. Our customers in India include banks, credit institutions, NBFCs, housing finance companies, microfinance companies, telecom companies and insurance firms. For more information visit To View the Image, Click on the Link Below: (L-R) Venkataramanan Anantharaman, Chairman, TransUnion CIBIL; Chris Cartwright, CEO, TransUnion; Ketaki Bhagwati, Independent Director, TransUnion CIBIL; Sanjay Prasad, Independent Director, TransUnion CIBIL; Todd Skinner, President – International, TransUnion; and N.S. Kannan, Independent Director. (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). This is an auto-published feed from PTI with no editorial input from The Wire.
Hans India
26-05-2025
- Politics
- Hans India
Our growth is in India's growth: siddaramaiah
Bengaluru: Chief Minister Siddaramaiah has conveyed to the Governing Council of the Niti Aayog that Karnataka sees its growth in the growth of India. Even as CM Siddaramaiah remained absent for the meeting, he shared his thoughts on Bharat@2047 with the Governing Council of NITI Aayog on Saturday, stated the Chief Minister's Office (CMO) in a statement. CM Siddaramaiah stated: 'Although I am unable to attend in person in this very important meeting, it is an honour to share my thoughts on the significant topic of India at 2047 and Karnataka's role in nation building. India @2047 should not just be a slogan; it must be a challenge and a calling for all of us. A challenge to close the gaps of inequality, and a calling to rise together as a federation of empowered states. The road to India @2047 must be paved with the visions, strengths, and aspirations of every state, from the Himalayas, the banks of the Ganga to the plains of Kaveri. 'We offer to partner with the Union government and NITI Aayog in codifying and sharing our best practices, building toolkits, and co-developing frameworks that align with the national ambition of Bharat @2047.' 'Let us rise together, from policy to people, from guarantees to growth, from Karnataka to a confident, compassionate India,' he stated. Siddaramaiah said that Karnataka approaches this national vision with humility and resolve. We see our growth in the growth of India and in the rise of every other Indian state. We believe that a strong Union can only emerge from strong, equitable, and empowered states. Therefore, let us build a collective national vision, where the spirit of cooperative federalism is not just spoken of, but is practiced and lived, CM Siddaramaiah stated. 'As India approaches its centenary of independence, Karnataka stands ready as a principal architect in shaping the India of the future. Our vision is bold, inclusive, and grounded in the ideals of justice, sustainability, and human dignity,' he stated. Karnataka's roadmap for the next 1,000 days is a declaration of intent: to lead by example, inspire by action, and govern with purpose. We aim to build a state where growth is just, opportunity is universal, and governance is deeply human, he claimed. 'Karnataka believes that our own progress holds meaning only when it contributes to the progress of the nation. We stand ready to not only build, but to share, scale, and strengthen the development journey of India, the CM emphasised. As we envision a developed India by 2047, it is imperative to begin by acknowledging the complex challenges that confront us. These are not just obstacles of resource or capacity, but challenges of distribution, inclusion, governance, and resilience,' he stated. The CM further said that climate change is no longer a future threat, it is a present crisis. 'Water scarcity, agricultural disruption, rising heatwaves, and urban pollution are already affecting livelihoods and health. We need climate-responsive planning, particularly in semi-arid and ecologically sensitive regions, to ensure sustainability and resilience,' CM Siddaramaiah demanded. The journey to 2047 cannot be purely economic, it must also be socially harmonious and constitutionally anchored, he said. Rising polarisation, exclusionary narratives, and erosion of trust in institutions weaken the very foundations of our Republic. 'We must reaffirm our commitment to pluralism, justice, and the rule of law,' the CM stated. CM Siddaramaiah underlined that, in an era of global realignments, India must remain vigilant. Challenges to territorial integrity, national security, and communal harmony require a governance model that is not only efficient but resilient and inclusive. Development without security is fragile; security without justice is untenable. These challenges demand not incremental adjustments but systemic transformation. Our responses must be grounded in evidence-based policymaking, rights-based welfare, and cooperative federalism, he maintained. 'In response to the multi-layered challenges India faces, social and economic inequality, digital exclusion, youth unemployment, environmental degradation, and regional disparities, Karnataka has pioneered a development model rooted in justice, innovation, and inclusive growth. This is now widely recognised as the Karnataka Model of Development which is a framework that combines constitutional morality with inclusion-driven governance,' CM Siddaramaiah stated. Karnataka's Guarantee Schemes represent a bold shift from welfare as relief to welfare as empowerment and entitlements. By investing Rs 52,000 crore annually in the 5 guarantees, the state is institutionalising dignity, economic justice, and constitutional compassion for millions of households, the CM maintained.
New Indian Express
25-05-2025
- Business
- New Indian Express
CM Siddaramaiah unveils 1,000-day vision; promises piped water for all houses
BENGALURU: Chief Minister Siddaramaiah on Saturday said in the next 1,000 days, Karnataka aims to guarantee 100% piped water to every household, establish Karnataka as South Asia's electric vehicle capital and achieve full digital and financial inclusion of women. In his speech, shared at the India @2047 event organised by NITI Aayog in New Delhi, he highlighted Karnataka's roadmap for 1,000 days and shared his views on Karnataka's role in nation-building. The CM did not attend the meeting. He said the state aims to transform every district into a skill hub, double the area under organic farming and make Karnataka India's most-efficient service delivery state and advance positive discrimination for social equity, ensuring inclusion of every voice and identity. 'Must reaffirm our commitment to pluralism, justice, rule of law' Offering to partner with the Union government and NITI Aayog in sharing the state's best practices and co-developing frameworks that align with the national ambition of Bharat @2047, he said the Karnataka model is rooted in social justice, economic strength and democratic values. 'We believe that the Karnataka experience can serve as a platform for national collaboration, where innovation meets inclusion, and governance meets grassroots transformation,' he added. As a developed India by 2047 is being envisioned, it is imperative to begin by acknowledging the complex challenges, he said. 'These are not just obstacles of resource or capacity, but challenges of distribution, inclusion, governance and resilience,' he said. Despite progress, widening disparities, regional, economic, and social, continue to limit millions. The real challenge is to ensure equitable development, where every community and region shares in India's growth and opportunity, he said. 'India's demographic dividend remains one of our greatest assets, but also one of our greatest risks. Jobless growth, underemployment and a misalignment between education and employability can lead to social alienation and economic inefficiency,' he said, emphasising the need for national skilling architecture that is both responsive and anticipatory.
Time of India
24-05-2025
- Politics
- Time of India
Karnataka CM Siddaramaiah warns against rising polarisation and distrust in institutions
Bengaluru/ New Delhi: Karnataka Chief Minister Siddaramaiah, in his speech tabled in the NITI Aayog meeting, on Saturday cautioned against rising polarisation and erosion of trust in institutions saying that they weaken the foundation of Indian Republic. Siddaramaiah skipped the 10th Governing Council meeting of NITI Aayog held in New Delhi, which was chaired by Prime Minister Narendra Modi , citing prior engagements in his home town Mysuru. In his absence, his speech was tabled in the meeting, sources close to the Chief Minister told PTI. The journey to 2047 cannot be purely economic, it must also be socially harmonious and constitutionally anchored, Siddaramaiah said in his speech, which was shared by his office. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo "Rising polarisation, exclusionary narratives, and erosion of trust in institutions weaken the very foundations of our Republic. We must reaffirm our commitment to pluralism, justice, and the rule of law," the Chief Minister said. According to him, India@2047 should not just be a slogan; it must be a challenge and a calling for everyone-A challenge to close the gaps of inequality, and a calling to rise together as a federation of empowered states. Live Events "The road to an India @2047 must be paved with the visions, strengths, and aspirations of every state, from the Himalayas, the banks of the Ganga to the plains of Kaveri," Siddaramaiah noted. The Chief Minister has also set a goal of achieving 100 per cent piped water to every household and establishing Karnataka as South Asia's electric vehicle capital and turning every Taluk (Tehsil) into a Skill District in the next three years. Doubling the area under organic farming and expanding early warning systems to all vulnerable regions are other goals for the next 1,000 days. "Karnataka's roadmap for the next 1,000 days is a declaration of intent: to lead by example, inspire by action, and govern with purpose," Siddaramaiah said in his message. Other targets are making Karnataka as India's most efficient service delivery state, driven by transparency, technology, and trust. "This is not merely an administrative plan, but a moral promise. Karnataka will lead with the strength of its people, the clarity of the Constitution, and the courage to imagine an India that is not only developed, but deeply just," he said. The Chief Minister said in this journey towards Bharat@2047, Karnataka should walk ahead with 'compassion, competence, and courage as a guiding light for the nation'. "We offer to partner with the Union Government and NITI Aayog in codifying and sharing our best practices, building toolkits, and co-developing frameworks that align with the national ambition of Bharat @2047," his speech read.
