KV Kamath, Chairman of the National Bank for Financing Infrastructure and Development (NaBFID) and non-executive chairman of Jio Financial Services, stated at the Business Standard BFSI Insight Summit 2023 that India and the world have witnessed unprecedented alignment in the banking sector. Banks are consistently maintaining high capital adequacy, preserving high asset quality, and achieving a return on equity of 17-20%. Kamath emphasized the increased ability of banks to absorb losses and highlighted the role of the digital economy in India’s future growth. He also urged regulators to treat every non-banking financial company (NBFC) like a bank and stressed the importance of technology in the banking sector.