Financial Inclusion is an Opportunity: BR Shetty

Thursday, August 8, 2013

The Indian banking industry has seen consistent double-digit growth during the last 10 years. But there are several unmet customer needs—including financial inclusion, product innovation, low-cost innovative delivery models, leveraging technology and communication, improving efficiency, building long-term relationships with customers, etc—which the banking industry has to resolve. These challenges make way for opportunities, some of which are easy to capture. But there are many that require significant innovation or specialised skills. Probably this is the space where new players like the UAE Exchange could make a difference.

I ventured into healthcare way back in 1975 by starting NMC Health, realising that, until then, quality healthcare facilities were unexplored in the UAE. From those early beginnings, NMC Health has now grown into a group with two principal divisions—NMC Healthcare, which is the largest healthcare provider in the private sector with a pan-UAE presence; and NMC Trading, which is a leading pharmaceuticals distribution business in the UAE. This makes it one of the largest integrated private sector healthcare companies in the region. Today, it is listed in the premium segment of the London Stock Exchange (LSE) and is part of FTSE-250 index.

Source: Forbes India (link opens in a new window)

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banking, Base of the Pyramid, financial inclusion