Kolkata, June 13 : Capital is going to be constraint in future owing to geo-politics leading to a retreat in globalisation, India's leading stock exchange BSE Ltd's Chairman S.
Ravi said on Wednesday.
Emphasising on corporate governance, he also said that the role of data analytics, artificial intellegence and robotics in the financial sector would be immense.
"Capital is going to be a constraint because of geo-politics, de-globalisation is happening.
Every country is looking inwards and every business will have to search for the right type of capital.
Governance framework is going to be stronger and strategic alliance is going to be important," Ravi said at an interactive session organised by Merchants' Chamber of Commerce and Industry.
He said efficient management of capital is going to be "important".
Terming governance "a very important aspect", he also stressed "let us not bend on over-governance because governance and compliance have costs".
"(Corporate) governance can be strong if role of between the full time operating people that is functional directors and the independent directors is clear.
Kotak committee (recommendations) is going to be implemented with the independent chairman, which will help in whole process and proceedings will be well monitored.
Quality of board is also important," he said.
According to him, banking, insurance, financial markets in future are likely to converge and there may be a single regulator.
"Artificial intelligence, robotics, data analytic and technology are going to play a big role in the financial sector," he said.
Asked about the media reports in regards to Central Bureau of Investigation's FIR in which he was named among others IDBI officials in connection with an alleged Rs 6 billion loan fraud case, Ravi declined to make any comments.
--IANS
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Source: IANS
