Connect with us

eNews

Business Today Summit honours top banks at Gujarat’s GIFT City

Published

on

Mumbai: The Business Today Banking & Economy Summit and BT Best Banks Awards, held at GIFT City in Gandhinagar on 22 March, celebrated India’s financial prowess. This year’s theme was “Indian Banking: Bigger. Bolder. Boundless,” and the event attracted a formidable assembly of industry titans, policymakers, and innovators, who discussed key trends and issues shaping the banking and financial sector.

At the event, the BT Best Banks Awards recognised and celebrated the leaders of the financial world, showcasing their resilience, innovation, and unwavering commitment to excellence. Nitin Gadkari, union minister for road transport and highways and Bhupendra Patel, chief minister of Gujarat, were present at the event and unveiled a Special Issue of Business Today on India’s Best Banks.

This year, the Bank of the Year saw joint winners, with ICICI Bank and HDFC Bank clinching the title. Veteran banker Uday Kotak, founder & non-executive director of Kotak Mahindra Bank, was bestowed with the Lifetime Achievement Award. The list of winners in other categories included names such as HDFC Bank, Bank of Maharashtra, Kotak Mahindra Bank, Karur Vysya Bank, J P Morgan, Ujjivan Small Finance Bank, Bajaj Finance, Mahindra Finance and Razorpay, among others.

Advertisement

At the summit, Union minister Gadkari highlighted the unprecedented opportunity presented by infrastructure investment trust (InvIT) bonds. He emphasised their potential to empower ordinary citizens to partake in the nation’s rapid infrastructure development while reaping substantial returns on their investments. “I don’t say this openly, but I have decided that I [will] now make roads with money collected from poor countrymen,” he said, adding that he often encouraged peons, police constables or labourers to invest in InvIT bonds. “I assure you of 8.05 per cent annual interest.”

Gujarat CM Bhupendra Patel credited the banking turnaround to PM Modi’s policies, while Dr Arvind Panagariya, Chairman of the 16th Finance Commission of India, batted for the privatisation of public sector banks once the General Elections are over. Ashishkumar Chauhan, MD & CEO of NSE, said that the regulatory framework of GIFT City, especially those related to the speed of execution, must be benchmarked to similar special zones in Hong Kong, Dubai, Singapore or London, while Kalyanaraman Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), said a green finance ecosystem has been put in place at Gift City. Bestselling author Chetan Bhagat said that GIFT City, with proper reforms, can become a financial nerve centre just like Hong Kong, Dubai, or Singapore.

To decide on the winners of the awards, the 28th edition of the BT-KPMG Best Banks and NBFCs Survey identified those institutions that weathered all storms in 2022-23, innovated both in products and services, nurtured talent and leveraged the strengths of fintech or technology partners to prepare for the future. The survey employed a comprehensive blend of quantitative and qualitative metrics to assess the performance of banks, fintech companies, and large NBFCs, that were included from this edition.

Advertisement

While six of the awards are quantitative ones based on a rigorous evaluation of 35-plus business parameters of banks and NBFCs for FY23, the other 10 categories were decided by a high-profile jury headed by Anand Kumar Sinha, former deputy governor of the Reserve Bank of India. The other members of the jury were Ashishkumar Chauhan, MD & CEO, NSE; Ranu Vohra, Co-founder & Executive Vice Chairman, Avendus; Pallav Mohapatra, MD & CEO, Arcil; N.S. Kannan, former ED, ICICI Bank; and Rajiv Kaul, Executive Vice Chairman & CEO, CMS Info Systems. A total of 17 winners were picked.

Here’s the complete list of winners in the BT-KPMG Best Banks & NBFCs Survey 2022-23:

Jury Awards

Advertisement

Bank of the Year: HDFC Bank and ICICI Bank (Joint Winners)
Lifetime Achievement Award: Uday Kotak, Founder & Non-executive Director, Kotak Mahindra Bank
Best Bank in Innovation: Ujjivan Small Finance Bank
Best Bank in Talent and Workforce: Kotak Mahindra Bank
Best Bank in Fintech Initiative: Federal Bank
Best NBFC in Innovation: Tata Capital
Best NBFC in Talent and Workforce: Mahindra Finance
Best Fintech in Payments: Razorpay
Best Fintech in Value-Added Services: Perfios Software Solutions
Best Fintech in Lending: Lendingkart
BT-KPMG Quantitative Awards
Best Large Indian Bank: HDFC Bank
Best Mid-sized Indian Bank: Bank of Maharashtra
Best Small Indian Bank: Karur Vysya Bank
Best Large Foreign Bank: J P Morgan
Best Small Finance Bank: Ujjivan Small Finance Bank
Best Large NBFC: Bajaj Finance Ltd

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

eNews

How short, addictive story videos quietly colonised the Indian smartphone

A landmark Meta-Ormax study of 2,000 viewers reveals a format that is growing fast, paying slowly and consumed almost entirely in secret

Published

on

MUMBAI: India has a new entertainment habit, and it arrived without anyone really noticing. Micro dramas, those short, cliffhanger-driven episodic stories built for the smartphone screen, have quietly embedded themselves into the daily routines of millions of Indians, discovered not by design but by algorithmic accident, watched not in living rooms but in bedrooms, on commutes and in the five minutes before sleep.

That, in essence, is the finding of a sweeping new audience study released by Meta and media insights firm Ormax Media at Meta’s inaugural Marketing Summit: Micro-Drama Edition. Titled “Micro Dramas: The India Story” and based on 2,000 personal interviews and 50 depth interviews conducted between November 2025 and January 2026 across 14 states, it is the most comprehensive study of the category in India to date, and its findings are striking.

Sixty-five per cent of viewers discovered micro dramas within the last year. Of those, 89 per cent stumbled upon the format through social media feeds, primarily Instagram and Facebook, without ever searching for it. The algorithm did the heavy lifting. Discovery, as the report puts it bluntly, is algorithm-led, not intent-led.

Advertisement

The typical viewer journey begins with accidental exposure while scrolling, moves through a cliffhanger-driven incompletion hook that makes stopping feel unfinished, and is reinforced by algorithmic repetition until habitual consumption sets in. Only then, when a platform asks for an app download or a payment, does the viewer pause. Trust, not content quality, determines what happens next, and many simply return to the free feed rather than pay. It is a funnel with a wide mouth and a narrow neck.

The numbers on consumption tell their own story. Viewers spend a median of 3.5 hours per week watching micro dramas, spread across seven to eight sessions of roughly 30 minutes each, peaking sharply between 8pm and midnight. Daytime viewing is snackable and low-commitment, squeezed into morning commutes, work breaks and coffee pauses. Night-time is where the format truly lives: private, uninterrupted and, for many viewers, socially invisible. Ninety per cent watch alone, compared to just 43 per cent for long-form OTT content. Half the audience watches during their commute, well above the 37 per cent figure for streaming platforms, a direct reflection of the format’s low time investment advantage.

The audience itself breaks into three segments. Incidental viewers, comprising 39 per cent of the total, are passive consumers who stumble in and rarely seek content actively. Intent-building viewers, the largest group at 43 per cent, are beginning to form habits and seek out episodes but remain cautious. High-intent viewers, just 18 per cent, are the ones who download apps, tolerate ads and occasionally pay: skewing male, younger and urban.

Advertisement

What audiences want from the content is revealing. The top three genres are romance at 72 per cent, family drama at 64 per cent and comedy at 63 per cent, precisely the same top three as Hindi general entertainment television. The format rewards emotional familiarity over complexity. Romance in particular thrives because it demands low cognitive investment, needs no elaborate world-building and plays naturally into the private, pre-sleep viewing window where inhibitions lower and emotional intimacy feels safe.

The most-recalled shows, led by Kuku TV titles such as The Lady Boss Returns, The Billionaire Husband and Kiss My Luck, share a common narrative DNA: rich-poor conflict, hidden identities, power imbalances, melodrama and cliffhangers that make stopping feel physically uncomfortable. Predictability, the research warns, is fatal. Each episode must re-earn attention from scratch.

The terminology question is telling. Despite the industry’s embrace of the phrase “micro drama,” viewers have not adopted it. They call the content “short story videos,” “short dramas,” “reels with stories” or simply “serials.” One respondent from Chennai said bluntly that “micro sounds like a scientific word.” The category is at the stage that OTT occupied in 2019 and podcasts in the same year: widely consumed, poorly named and not yet crystallised in the public imagination.

Advertisement

Platform awareness remains alarmingly thin. Only three platforms, Kuku TV at 78 per cent, Story TV at 46 per cent and Quick TV at 28 per cent, have crossed the 20 per cent awareness threshold. The rest languish in single digits. This creates a trust deficit that directly throttles monetisation: viewers who cannot remember which app they used are hardly primed to enter their payment details.

Yet the appetite is clearly there. Sixty-five per cent of viewers watch only Indian content, drawn by the TV-serial familiarity of the storytelling, the comfort of Hindi as a shared language and the sight of actors they half-recognise from decades of television. South languages are rising fast: Tamil, Telugu and Kannada together account for 24 per cent of first-choice viewing. And AI-generated content, still a novelty, has landed better than expected: 47 per cent of viewers call it creative and unique, with only 6 per cent actively rejecting it.

Shweta Bajpai, director, media and entertainment (India) at Meta, called micro drama “a category that is rewriting the rules of Indian entertainment,” adding that the discovery engine being social distinguishes this wave from previous content formats. Shailesh Kapoor, founder and chief executive of Ormax Media, was characteristically measured: the format, he said, is showing “the early signs of becoming a distinct content category” and, given how closely it aligns with natural mobile behaviour, “has the potential to scale very quickly.”

Advertisement

The format’s fundamental mechanics are working. It enters lives quietly, through boredom and a scrolling thumb, and burrows in through incompletion and habit. The challenge now is monetisation: converting a category of highly engaged but deeply anonymous viewers into paying customers who trust the platform enough to hand over their UPI credentials. The story, as any micro-drama writer knows, is only as good as the next cliffhanger. India’s platforms had better have one ready.

Continue Reading

Advertisement News18
Advertisement All three Media
Advertisement Whtasapp
Advertisement Year Enders

Copyright © 2026 Indian Television Dot Com PVT LTD

This will close in 10 seconds