CHOOSING THE CHAMPIONS

The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.

- TEAM BT AND KPMG

AFTER A SIX-MONTH-LONG process of crunching numbers of banks and non-banking financial companies (NBFCs), the moment finally arrived to crown the champions of the 29th BT-KPMG India's Best Banks and NBFCs Survey 2023-24 this November.

A high-powered jury, led by Jayant Sinha, Former Chair of the Standing Committee on Finance and Former Minister of State for Finance, deliberated on the data.

Other members included Subhash Chandra Garg, Former Economic Affairs Secretary; Dinesh Kumar Khara, Former Chairman of State Bank of India; Kalpana Morparia, Former Chair (South & Southeast Asia), J.P. Morgan; Gunit Chadha, Founder of APAC Financial Services; Alice G. Vaidyan, Former CMD of GIC; and A.P. Hota, former MD & CEO of NPCI.

When it came to picking winners, the jury prioritised 'impact' while evaluating several categories, particularly in innovation and fintech engagement.

Dinesh Kumar Khara recused himself from deliberations on the Lifetime Achievement Award, where he was a nominee, and the Best Bank in Innovation Award, where SBI's innovation was listed among the top three. A.P. Hota, a board member of Federal Bank, also stepped aside from the Lifetime Achievement Award since former MD & CEO Shyam Srinivasan was a nominee. Sinha excused himself from the Best Fintech in Lending Award since his wife, Punita Kumar Sinha, serves as an independent director on the board of MobiKwik.

The jury selected nine winners across 10 categories. The Best Bank in Fintech Initiative award was dropped for the lack of strong entries. In addition, six winners were picked purely on the basis of a quantitative analysis, independent of the jury.

QUANTITATIVE AWARDS