Secretary of Department of Financial Services (DFS), Shri M. Nagaraju, delivered keynote address at inaugural IBA Summit on Risk Management. DFS oversees financial sector policy under Ministry of Finance, regulating banks, NBFCs, insurance companies. Summit focused on emerging risks in digital banking, cyber security, and regulatory compliance. Nagaraju emphasized strengthening risk frameworks amid rapid fintech growth. IBA represents over 250 Indian banks. Event highlighted coordination between government and banking industry for financial stability.

The Department of Financial Services serves as the apex policy-making body for India's financial sector, directly reporting to Finance Ministry. Secretary M. Nagaraju's keynote at IBA Summit reflects government's proactive approach to risk management amid India's digital financial transformation. DFS coordinates with RBI, SEBI, IRDAI for regulatory harmony. The Summit's timing is crucial as Indian banking faces unprecedented challenges - rising cyber threats, fintech disruption, climate risks, and post-COVID credit concerns. IBA, representing majority of Indian banks, provides industry perspective to policymakers. This collaboration model exemplifies India's consultative governance approach. Key focus areas likely include operational risk from digital payments surge (UPI transactions crossed 10 billion monthly), credit risk from MSME lending expansion, and systemic risk from interconnected financial ecosystem. Such forums enable real-time policy calibration, ensuring regulations keep pace with innovation while maintaining stability.