Indian Banks & NBFCs: Strong Growth, Improving Buffers — What Lies Ahead?
Navigating growth amid evolving risks
We are pleased to announce our return to Mumbai for the second edition of our Indian Banks & NBFCs briefing. The session will provide a high level outlook on sector performance, covering broad trends in credit conditions, asset quality, and the regulatory landscape. Join Moody’s and ICRA analysts as they address key questions including:
- What is the credit outlook for banks and NBFCs in fiscal 2027 amid global geopolitical uncertainties?
- How are asset quality trends evolving across segments?
- How will lenders navigate upcoming regulatory changes while sustaining growth and managing risks?
Agenda
Registration
Networking High-Tea
Speakers
Karthik Srinivasan
Senior Vice President & Group Head Financial Sector Ratings
ICRA Limited
A M Karthik
Senior Vice President and Co-Group Head, Financial Sector Ratings
ICRA Limited
Sally Yim
Managing Director, Global Co-Head Banks and Insurance Ratings
Moody's Ratings
Amit Pandey
Vice President - Senior Analyst, Financial Institutions Group
Moody’s Ratings
Devang Rajkotia
Assistant Vice President, Financial Institutions
Moody's Ratings
Venue
Taj Lands End
400050 Mumbai
Maharashtra
India
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Sally Yim is a Managing Director in the Financial Institutions Group. Based in Hong Kong SAR, China, Sally is the Head of APAC Financial Institutions, responsible for Moody’s analytical teams covering ratings and research on APAC banks, insurance companies, and non-bank financial institutions such as securities and leasing companies. She is also a co-head of Moody’s Global Banking and Global Insurance & Asset Management rating franchises. In addition, Sally leads the Global Financial Institutions Group’s Environment, Social & Governance (ESG) efforts.
Sally joined Moody’s in February 2005 as an Associate Analyst in New York, covering property & casualty insurers. She transferred to Hong Kong in 2006 and completed a short stint in the Corporate Finance Group, supporting analysts in the
oil & gas, petrochemical and steel sectors. Sally rejoined the Financial Institutions Group as an Analyst in January 2007. Since then, Sally has covered various Asian financial institutions, including insurance companies, banks and securities firms and subsequently, became a manager overseeing various teams covering the ratings and research of Greater China and Korean financial institutions.
Prior to joining Moody’s, Sally worked as a Senior Auditor at Ernst & Young LLP in New York, specializing in private and public insurers. She also worked at Ernst & Young’s National Professional Practice, where she focused on technical accounting research, while assisting in accounting consultations.
Sally holds a Bachelor of Business Administration and Master of Accounting from the University of Michigan. She is a CFA charterholder and also a Certified Public Accountant.
Devang is an Assistant Vice President - Ratings in Moody’s Ratings’ Financial Institutions Group, based in Singapore. He leads credit rating and research for banks in South Asia and non-bank financial institutions in India.
Devang has 10+ years of experience in the financial services industry. Before joining Moody’s Ratings, he served as Deputy Vice President in HDFC Bank’s Credit Risk Management division in India where he focused on credit portfolio risk management and risk analytics.
In earlier roles at HDFC Bank, he managed securitization and underwriting for financial institutions. He began his career with Moody’s domestic affiliate, ICRA Limited in India, specializing in structured finance ratings.
Devang holds an MBA in Finance from the S.P. Jain Institute of Management & Research(SPJIMR) and a Bachelor of Technology in Computer Science from VJTI Mumbai.
Mr. Karthik Srinivasan is Senior Vice President and Group Head – Financial Sector Ratings at ICRA Limited.
He holds a B.E. degree in Electronics Engineering from the K J Somaiya College of Engineering, Mumbai University, and a Masters in Management Studies (Finance) from the Narsee Monjee Institute of Management Studies, Mumbai University. He also holds the CFA charter awarded by the CFA Institute, USA.
Karthik has an aggregate work experience of around 23 years, out of which he has been associated with ICRA for nearly 20 years.
A M Karthik is Senior Vice President and Co‑Group Head, Financial Sector Ratings at ICRA Limited. He joined ICRA in 2008 and was part of the corporate rating team till 2012, with focus on steel, engineering, and auto sector ratings. He moved to financial sector ratings team in 2012 and is presently leading a team of about 15 analysts focused on ratings of non‑banking financial companies (NBFCs). Apart from ratings, he is also responsible for NBFC related research publications.
Till 2019, Karthik was also assisting the analytical team at ICRA Lanka for their financial sector ratings. In 2022‑23, Karthik spent about 6 months with the analytical team at Moody's Singapore, as part of a secondment program between ICRA and Moody's.
Prior to ICRA, he had worked with Essar Steel Limited for a period of 3 years (2003‑2006), as part of the project team in implementing a downstream steel processing unit.
He holds a Master' degree in Business Administration from Bharathidasan Institute of Management (BIM), Trichy (2006‑2008) and, has Bachelor of Engineering (Mechanical) degree from National Institute of Technology, Surat (1999‑2003).
Amit Pandey joined Moody’s APAC FIG in Singapore in 2023. He covers a rating portfolio of banks in Asia-Pacific, in particular the South and Southeast Asian region.
Previously, Amit was with S&P Global Ratings for over 10 years in Singapore covering a portfolio of ASEAN and South Asian financial institutions. Prior to that, he served in the debt capital market team of HSBC India and the credit department of Axis Bank in Mumbai.
Amit has extensive credit experience in providing rating and capital advisory services to issuers across the Asia-Pacific region, as well as debt origination and management services of credit portfolios.
Amit has a Bachelor’s degree in Electrical Engineering from Harcourt Butler Technological Institute, Kanpur, and an MBA from the Indian Institute of Management, Calcutta.
Vineet Gupta is a Vice President & Head of Relationship Management for South Asia in the MIS Global Relationship Management Group. Based in Mumbai (India),he is responsible for Relationship Management function for South Asian countries of India, Sri Lanka, Bangladesh, Bhutan, Nepal, Pakistan and Maldives.
Previously, he was a Vice President-Senior Analyst in the Financial Institutions Group in Asia, and was based in Singapore. He was the lead analyst for Indian and Sri Lankan Banks and a back-up analyst for Singaporean and Vietnamese banks.
Before joining Moody’s, he worked as the head of local credit analysis at Credit Agricole - Corporate & Investment Bank in India. Prior to that, he headed the bank and financial institution ratings team at ICRA Limited, India. He began his career in an IT company in India and has work experience of over three decades.
Vineet is a graduate from the Indian Institute of Technology, Delhi (India), where he studied Textile Technology. He also has an MBA from Faculty of Management Studies, University of Delhi.
Mr. Karthik Srinivasan is Senior Vice President and Group Head – Financial Sector Ratings at ICRA Limited.
He holds a B.E. degree in Electronics Engineering from the K J Somaiya College of Engineering, Mumbai University, and a Masters in Management Studies (Finance) from the Narsee Monjee Institute of Management Studies, Mumbai University. He also holds the CFA charter awarded by the CFA Institute, USA.
Karthik has an aggregate work experience of around 23 years, out of which he has been associated with ICRA for nearly 20 years.
A M Karthik is Senior Vice President and Co‑Group Head, Financial Sector Ratings at ICRA Limited. He joined ICRA in 2008 and was part of the corporate rating team till 2012, with focus on steel, engineering, and auto sector ratings. He moved to financial sector ratings team in 2012 and is presently leading a team of about 15 analysts focused on ratings of non‑banking financial companies (NBFCs). Apart from ratings, he is also responsible for NBFC related research publications.
Till 2019, Karthik was also assisting the analytical team at ICRA Lanka for their financial sector ratings. In 2022‑23, Karthik spent about 6 months with the analytical team at Moody's Singapore, as part of a secondment program between ICRA and Moody's.
Prior to ICRA, he had worked with Essar Steel Limited for a period of 3 years (2003‑2006), as part of the project team in implementing a downstream steel processing unit.
He holds a Master' degree in Business Administration from Bharathidasan Institute of Management (BIM), Trichy (2006‑2008) and, has Bachelor of Engineering (Mechanical) degree from National Institute of Technology, Surat (1999‑2003).
Sally Yim is a Managing Director in the Financial Institutions Group. Based in Hong Kong SAR, China, Sally is the Head of APAC Financial Institutions, responsible for Moody’s analytical teams covering ratings and research on APAC banks, insurance companies, and non-bank financial institutions such as securities and leasing companies. She is also a co-head of Moody’s Global Banking and Global Insurance & Asset Management rating franchises. In addition, Sally leads the Global Financial Institutions Group’s Environment, Social & Governance (ESG) efforts.
Sally joined Moody’s in February 2005 as an Associate Analyst in New York, covering property & casualty insurers. She transferred to Hong Kong in 2006 and completed a short stint in the Corporate Finance Group, supporting analysts in the
oil & gas, petrochemical and steel sectors. Sally rejoined the Financial Institutions Group as an Analyst in January 2007. Since then, Sally has covered various Asian financial institutions, including insurance companies, banks and securities firms and subsequently, became a manager overseeing various teams covering the ratings and research of Greater China and Korean financial institutions.
Prior to joining Moody’s, Sally worked as a Senior Auditor at Ernst & Young LLP in New York, specializing in private and public insurers. She also worked at Ernst & Young’s National Professional Practice, where she focused on technical accounting research, while assisting in accounting consultations.
Sally holds a Bachelor of Business Administration and Master of Accounting from the University of Michigan. She is a CFA charterholder and also a Certified Public Accountant.
Amit Pandey joined Moody’s APAC FIG in Singapore in 2023. He covers a rating portfolio of banks in Asia-Pacific, in particular the South and Southeast Asian region.
Previously, Amit was with S&P Global Ratings for over 10 years in Singapore covering a portfolio of ASEAN and South Asian financial institutions. Prior to that, he served in the debt capital market team of HSBC India and the credit department of Axis Bank in Mumbai.
Amit has extensive credit experience in providing rating and capital advisory services to issuers across the Asia-Pacific region, as well as debt origination and management services of credit portfolios.
Amit has a Bachelor’s degree in Electrical Engineering from Harcourt Butler Technological Institute, Kanpur, and an MBA from the Indian Institute of Management, Calcutta.
Devang is an Assistant Vice President - Ratings in Moody’s Ratings’ Financial Institutions Group, based in Singapore. He leads credit rating and research for banks in South Asia and non-bank financial institutions in India.
Devang has 10+ years of experience in the financial services industry. Before joining Moody’s Ratings, he served as Deputy Vice President in HDFC Bank’s Credit Risk Management division in India where he focused on credit portfolio risk management and risk analytics.
In earlier roles at HDFC Bank, he managed securitization and underwriting for financial institutions. He began his career with Moody’s domestic affiliate, ICRA Limited in India, specializing in structured finance ratings.
Devang holds an MBA in Finance from the S.P. Jain Institute of Management & Research(SPJIMR) and a Bachelor of Technology in Computer Science from VJTI Mumbai.