wordpress blog stats
Connect with us

Hi, what are you looking for?

Not using data will hurt companies, says former SBI chairperson Arundhati Bhattacharya

Arundhati Bhattacharya

Being digital and data-driven is imperative, Arundhati Bhattacharya, CEO of Salesforce India and former chairperson of State Bank of India, said at the Global Fintech Fest on Thursday. "Data is very empowering because it gives you lot more insights and as it gives you more insight, it ensure that you have better risk management, it opens up more market segments for you, it tells you how to get more done with less effort, which of the leads are genuine and that are just noise," she said. "It gives you power to do more with less," she continued. If companies do not adapt to it, it will hurt them, Bhattacharya said. 'OCEN is a game changer' Bhattacharya called Nandan Nilekani-led Open Credit-Enablement Network (OCEN), a system of micro-lending that he had announced on Wednesday, a "game changer". She also revealed that she had given her inputs to the creation of OCEN, which "connects the giver and the taker in a very efficient way to the benefit of both". “Access is the game changer,” she said. Bhattacharya also revealed that the bank has 120 million genuine accounts with ₹38,000 crore deposits in SBI. The average balance in these accounts is ₹2,449. People have become eligible for an overdraft of ₹21 lakh. This means that even to people who are considered savers, “we have the ability to lend them up to ₹21 lakh,” she said. “Now that you can identify individuals on the basis of their Aadhaar database,” it becomes easier "to ensure…

Please subscribe/login to read the full story.
Written By

Send me tips at aditi@medianama.com. Email for Signal/WhatsApp.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ