Asset Management Companies (AMCs) will be the next disruptors followed by general insurance companies, KV Kamath, chairman of Jio Financial Services Ltd (JSFL) said in an exclusive conversation with CNBC-TV18's managing director Shereen Bhan.

Share Market Live

NSE

No financial entity cannot afford to not embrace the new incumbent financial players and have to look at technology disruption, Kamath said stressing the importance of financial players.

Kamath also stressed the need for long-term funding for infrastructure and said that banks will have to think about it. As per him, NHAI has provided needed momentum in the roads sector with FASTag infrastructure working well.

For the fintech companies, Kamath advised them to regulate themselves by making reasonable profits. "Aspirations on valuations have put fintechs on the wrong track," he said.

Fintechs are building extraordinary platforms and are important for triggering systemic change.

Earlier, Kamath expressed his confidence that Jio Financial Services will be an important player in India’s financial services sector. JFS was carved out of billionaire Mukesh Ambani-led Reliance Industries in July to help the oil-to-retail conglomerate.

Also Read:Jio Financial Services will be an important player in India’s financial services sector: KV Kamath

First Published:Aug 23, 2023 11:40 PM IST