Technology has moved from the back office to the core of business strategy in the banking, financial services, and insurance (BFSI) sector, according to KNC Nair, Chief Information Officer of Indel Money. In a recent interview, Nair highlighted how data and digital systems now play a decisive role in driving growth, managing risk, and building customer trust.
Nair noted that the role of the CIO has evolved significantly over the years. Once seen largely as a support function, the position has become a key business leadership role, closely aligned with operations, compliance, and long-term strategy.
Indel Money’s own transformation mirrors this shift. Originally a branch-led gold loan company, the NBFC has transitioned into a largely paperless, digital-first organisation. Today, the entire customer lifecycle—from onboarding and gold appraisal to loan servicing and closure—is handled through digital platforms. Customer identity verification is carried out using Aadhaar- and PAN-based eKYC, while almost all transactions are processed through banking channels, bringing cash usage down to near zero.
Regulatory compliance and data protection form a critical part of Indel Money’s digital framework. The company adheres to Reserve Bank of India guidelines and the Digital Personal Data Protection (DPDP) Act, supported by robust access controls, regular security audits, and systems that allow granular control of customer data.
Looking ahead, Indel Money is adopting a modern, API-driven technology architecture to enable co-lending models and partnerships with banks and other financial institutions. The company is also selectively deploying artificial intelligence across functions such as gold appraisal assistance, fraud detection, credit evaluation, and branch-level security.
According to Nair, technology at Indel Money is no longer a supporting layer but the foundation of the organisation’s operations. In a highly regulated financial environment, he said, digital systems are essential for ensuring trust, effective risk management, and sustainable business growth.
Read the full interview!
Indel Money Executive Director and CEO Umesh Mohanan shared his views on the Union Budget FY27, highlighting its strong focus on foreign investment, financial stability, and long-term economic growth. According to him, the Budget is timely, especially in the context of rupee depreciation, slowing exports, and global trade pressures.
He noted that the government’s efforts to attract foreign capital are visible through tax exemptions for NRIs and Overseas Citizens, along with simplified FEMA rules. The Budget also aims to bring investments from large global corporations by offering customs duty exemptions across key sectors such as aviation components, nuclear power projects, lithium-ion batteries, critical minerals, solar equipment, and electronics manufacturing. These sectors are expected to play a major role in India’s medium-term growth.
On the banking and finance side, Mohanan welcomed the formation of a High-Level Committee on Banking for Viksit Bharat, which is expected to strengthen credit flow to banks, NBFCs, and MSMEs. Treating MSME trade receivables as asset-backed securities is seen as a positive step in easing credit access.
He also highlighted the government’s fiscal discipline, with a reduced fiscal deficit and increased public capital expenditure, which could encourage private investment. The simplified tax regime, support for data centres, bond market reforms, and rationalisation of MAT and STT were described as measures that support compliance, capital markets, and job creation.
In response to the Union Budget 2026, Indel Money Executive Director and CEO Umesh Mohanan highlighted the positive implications for India’s financial and credit ecosystem. The Budget, presented on February 1, 2026, emphasised long-term strength in banking and financial systems rather than short-term measures. Finance Minister Nirmala Sitharaman’s proposal to form a High-Level Committee on Banking for Viksit Bharat aims to enhance credit access across sectors, including banking, NBFCs and MSMEs — a step Mohanan described as significant for meeting broader financing needs.
Umesh Mohanan, Executive Director and CEO of Indel Money, said the move could address longstanding funding challenges. “On the banking and finance front, the constitution of a High-level Committee on Banking for Viksit Bharat is a notable step that will address the credit-financing requirements of banking, NBFC and MSME sectors. For the MSMEs, the trade receivables are now being treated as asset-backed securities, which will help them address their credit requirements,” he said.
Mohanan noted that treating trade receivables as asset-backed securities can help MSMEs meet credit requirements more efficiently, supporting growth and liquidity. He also pointed out the Budget’s clear focus on NBFC reforms, technology adoption and credit disbursement targets, which are expected to make credit flow smoother for borrowers who rely on non-bank financial institutions.
According to the article, these measures are designed to strengthen the foundations of India’s credit delivery system while maintaining financial stability, which could enhance access to formal credit for businesses and retail borrowers alike.
