Towards a future of financial inclusion and empowerment

As a custodian of India’s digital banking journey, Vishnu R. Dusad laid out a vision to align India’s banking systems with growth, inclusion and technological leadership

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Last Updated: Sep 30, 2025, 17:01 IST2 min
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The third edition of Nucleus Software presents CNBC-TV18 Banking Transformation Summit began with a curtain raiser that set an ambitious tone. The theme of the third edition, ‘Banking That Builds Bharat: AI Powered, Credit Driven’, was established not as a mere structural reform, but a foundational aspiration. At the heart of it was an enlightening interview with Vishnu R. Dusad, the visionary Managing Director and co-founder of Nucleus Software, in conversation with Parikshit Luthra, CNBC-TV18. Dusad painted a picture of an economy at a unique inflection point, poised to leverage its digital public infrastructure for unprecedented, inclusive growth.

The Winning Formula

The discussion commenced with an assessment of India’s recent triumphs. Dusad identified the Jan Dhan Yojana, with its 560 million accounts, and the Unified Payments Interface (UPI), which now processes over 20 billion transactions a month, as twin pillars of the country’s transformation. "These are the points which would give any economy a strength, a capability which is absolutely unimaginable," he said. It had set the stage for what he described as a ‘credit takeoff’. With credit-to-GDP currently at 57%, the potential for growth, especially within underserved segments like MSMEs and gig workers, is immense.

No One Left Behind

The priority, according to Vishnu R. Dusad, is to reach the ‘lowermost segments of the society’ by harnessing data generated by hundreds of billions of transactions from 400 million entities. This requires a shift in mindset from being ‘overconservative’

to embracing calculated experimentation. "How can you participate in experiments in a very open manner?" he asked, suggesting the creation of frameworks that minimize risk while maximizing the upside of innovation.

Artificial Intelligence emerged as the central force for achieving hyper-personalization at scale. Dusad envisioned AI as the solution to the human-resource challenge of understanding individual credit needs. "If you want to use a different terminology, it’s anytime any individual's needs are very specific," he explained, noting that AI, when used in an ‘explainable manner’ can tailor credit products with precision. He cited a practical example from his own company’s work; using AI to translate complex financial statements into a customer’s native language, thereby demystifying banking and fostering trust.

The Big Promise

This inclusive vision highlighted a monumental opportunity. Dusad estimated a latent credit demand of roughly $500 billion from MSMEs, gig workers, and women entrepreneurs. It is the scale of financial empowerment that a fusion of AI and credit is expected to deliver, profoundly transforming the credit landscape in the process. The shape and form of these changes would emerge in more detail at the Banking Transformation Summit, where the architects of a new era in financial services gather to chart the way forward.

You can watch the full curtain raiser episode below.

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First Published: Sep 30, 2025, 16:51

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