FE Best Banks Awards 2018 Highlights: Banker of the year goes to Romesh Sobti, Lifetime Achievement Award to Arundhati Bhattacharya

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Updated:Jan 10, 2019 10:45:37 pm

FE Best Banks Awards: A high-powered jury chaired by former TCS chairman S Ramadorai has chosen the winners for the prestigious awards.

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FE Best Banks Awards: The Financial Express on Thursday honoured the best banks in the country.  IndusInd Bank MD Romesh Sobti won the best banker of the year award and former SBI chairman Arundhati Bhattacharya got the Lifetime Achievement Award. Former ICICI Bank chairman Narayanan Vaghul presented India’s most prestigious financial sector awards.

Speaking on the occasion, Narayanan Vaghul said: “For me, the real honour today is to have given Arundhati Bhattacharya the lifetime achievers award – she is known for her no-nonsense approach, respected by competitors and managed problems in her own unique way.”

The players that were in the race were bankers and financial services firms such as non-banking financial companies and fin-techs.

A high-powered jury chaired by former TCS chairman S Ramadorai selected the winners for the prestigious awards. Some other key members of the jury were L&T Director & CFO R Shankar Raman, former UTI Asset Management MD Leo Puri, former RBI Executive Director Biswamohan Mahapatra and Ispirt founder Sharad Sharma.

Watch Live: FE Best Banks Awards 2018 

Financial Express Managing Editor Sunil Jain delivered the opening note. The topic of the discussion was – Will digital destroy traditional banking models? The panellists were Axis Bank outgoing CEO Shikha Sharma, SBI MD PK Gupta, Ispirt founder Sharad Sharma, Hemant Gala of PhonePe, and Bank Bazaar CEO Adhil Shetty.

Live Blog

FE Best Banks Awards 2018

Highlights

    20:29 (IST)10 Jan 2019
    FE Best Banks Awards: Here's all winners!

    Here's a very special group photograph with the winners of FE Best Banks Awards.

    20:17 (IST)10 Jan 2019
    Vote of thanks proposed by Indian Express ED Anant Goenka

    Indian Express Executive Director thanked chief guest Vaghul and all participants. He also congratulated all the winners.

    20:10 (IST)10 Jan 2019
    Narayanan Vaghul: Digital banking will grow

    Narayanan Vaghul: Digitalbanking will grow. It is possible. A few years back, I saw an old man in a bank, asking for his passbook to be updated, and he was not ready to visit the website to do so.

    20:02 (IST)10 Jan 2019
    Narayanan Vaghul: We destroyed development banks due to faulty lending in 80s

    Narayanan Vaghul: In the 80s, the industrial development was taking place, there were development banks and we destroyed them due to several reasons such as faulty lending practices.

    19:57 (IST)10 Jan 2019
    Narayanan Vaghul on Economy

    FE Best Banks Awards | Necessary to create the right type of precedents so that the future can be taken care of. Now I see signs of tailwinds in the economy, even in the absence of investment growth, and momentum has been generated: Former ICICI Bank chairman Narayanan Vaghul. 

    19:54 (IST)10 Jan 2019
    Narayanan Vaghul: Arundhati Bhattacharya is known for her no-nonsense approach

    Former ICICI Bank chairman Narayanan Vaghul said: "For me, the real honor today is to have given Arundhati Bhattacharya the lifetime achievers award - she is known for her no-nonsense approach, respected by competitors and managed problems in her own unique way." 

    19:53 (IST)10 Jan 2019
    Narayanan Vaghul: Arundhati Bhattacharya is known for her no-nonsense approach

    Former ICICI Bank chairman Narayanan Vaghul said: "For me, the real honor today is to have given Arundhati Bhattacharya the lifetime achievers award - she is known for her no-nonsense approach, respected by competitors and managed problems in her own unique way." 

    19:44 (IST)10 Jan 2019
    FE Best Banks Award - Lifetime Achievement Award

    FE Lifetime Achievement Award goes to former SBI chairman Arundhati Bhattacharya. 

    19:37 (IST)10 Jan 2019
    FE Best Banks Award- Banker of the Year

    Banker of the Year award goes to Romesh Sobti, Managing Director of IndusInd Bank. 

    19:17 (IST)10 Jan 2019
    Will digital destroy traditional banking models?

    Hemant of PhonePe: The data is throwing up a lot of real undertsanding what the needs of customers are. For us, it will be creating a play for millions of customers along with banks as partners. 

    19:14 (IST)10 Jan 2019
    FE Best Bank Awards: Will digital destroy traditional banking models?

    Bank Bazaar CEO Adil Shetty: We are creating cultural variant data and prudence because people are observing it is being tracked and monitored.

    19:13 (IST)10 Jan 2019
    Will digital destroy traditional banking models?

    Hemant of PhonePe : UPI gave a platform for start ups like us to base our products upon and innovate. 

    19:10 (IST)10 Jan 2019
    FE Best Banks Awards: Shikha Sharma on experiments

    Axis Bank outgoing CEO Shikha Sharma: We are one of the first banks to outsource our ATMs, we also use QR for utility payments. We have over 200 data scientists with us and that is why we can do experiments. 

    19:02 (IST)10 Jan 2019
    Ispirt founder Sharad Sharma: Healthy tension between players is good

    Ispirt founder Sharad Sharma: Healthy tension between players is good. We can expand credit while improving credit quality. We can change the trajectory of the industry for the better. We can get better compliance and ease of use. 

    18:59 (IST)10 Jan 2019
    FE Best Bank Awards: Will digital destroy traditional banking models?

    SBI MD PK Gupta: A lot of innovation is happenneing. Good thing that now a lot of data is available that you can use them to make decisions. We have data scienetists who are looking into the data who analyse and tell us what banks can offer.  

    18:50 (IST)10 Jan 2019
    FE Best Bank Awards: Shikha Sharma on Reorientation

    Shikha Sharma: It's very difficult to say who is going to win if you think too much about it. You won't have a partner or develop the market. Yo have to think about how to integrate the front end with another platform. With Digital, cash is growing too, even if at a small pace. Cash is not going to go away in a hurry. Similarly, bank branches won't go away soon even as digital is growing.

    18:44 (IST)10 Jan 2019
    Shikha Sharma: Digital is an opportunity and challenge

    Shikha Sharma: Digital is an opportunity and challenge. When UPI happened, we decided if we have to win in this as a bank with 3% market share, we can't do alone. We worked with partners and in hindsight, it was a good decision. 

    18:42 (IST)10 Jan 2019
    Ispirt founder Sharad Sharma: Digital will help in the growth of financial services

    Ispirt founder Sharad Sharma: Value chain is changing. We are going from verticlaly integrated value chains to partnerships. This is not a zero-sum game. India very under-penetrated in financial services. Digital will help in the growth of financial services. 

    18:35 (IST)10 Jan 2019
    Will digital destroy traditional banking models?

    SBI MD PK Gupta: The cost of bank service is so high that it has to move to digital. At the front end if there are Google pay and other apps providing services, at the back end it's the bank doing the job. A time will come when banks will provide services which even the latest apps won't be able to do. As more people start getting used to transactions through bank apps, banks will also be able to make more offerings that appeal to the customers need. 

    18:32 (IST)10 Jan 2019
    Will digital destroy traditional banking models?

    Axis Bank outgoing CEO Shikha Sharma: Digital is both an opportunity and challenge. Digital wave is coming, and we should move with it. When UPI happened, we decided if we have to win in this as a bank with 3% market share, we can't do alone. We worked with partners and in hindsight, it was a good decision. 

    18:27 (IST)10 Jan 2019
    FE Best Banks Awards: Ceremony Begins in Mumbai!

    Financial Express Managing Editor Sunil Jain delivers the opening note and is moderating a panel discussion on Will digital destroy traditional banking models?  He said: Fintech is something where the new challenge resides for banking. 

     
    18:04 (IST)10 Jan 2019
    FE Best Banks Awards: Ceremony to commence at 6 in Mumbai

    The award presentation will commence at 6 pm. The key address will be delivered by The Express Group Chairman and MD Viveck Goenka. 

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