The Government launched a comprehensive reforms strategy for the financial ecosystem and Public Sector Banks. The Report is also an encapsulation of the 'State of the Banking Industry' and highlights the important developments in the banking industry which are contributing to continuous growth and progress of PSBs in India.
Going for Gold: By creating customers who create customers
Consumption in India has grown at a strong pace and is likely to continue its growth trajectory in the next 10 years. The report is a useful guide that helps retailers identify the prize, decode success factors and finally, win consumers.
India’s 60 million micro, small and medium enterprises (MSMEs) make an enormous contribution both to India’s employment and its gross domestic product (GDP). However, India has yet to reach its potential, lagging 10 percentage points behind the US and 23 points behind China in GDP contribution.
The report talks about how digital lending to MSMEs in India has significant potential to disrupt the status quo in financial services. Digital lending to MSME's is projected to increase between 10 and 15 times by 2023, to between 6 and 7 Lakh Crore ($80-100 billion) in annual disbursements. Combined with a largely level playing field in India, without dominant incumbents, a range of entrants and business models can be successful in tapping that market.
Our social-impact work seeks to make a difference beyond the business world. Having a beneficial social impact is fundamental to who we are as an organization and is one of our nine stated values. BCG's involvement in this area is motivated by our desire to make a positive difference to society in general and often to the underprivileged in particular. The CSR policy of The Boston Consulting Group (India) Pvt Ltd highlights the Company's philosophy towards Corporate Social Responsibility and lays down the guiding principles for undertaking the Company's CSR activities in India.