IIM Sambalpur hosts global conference on Metaverse Banking, champions vision for Viksit Bharat@2047

THEBUSINESSBYTES BUREAU

SAMBALPUR, JULY 15, 2025

In a forward-looking initiative to shape the future of financial services in India, the Indian Institute of Management (IIM) Sambalpur, in collaboration with the Indian Council of Social Science Research (ICSSR), hosted the “International Conference on Metaverse Banking and Financial Transformation” (ICMBFT 2025). The event served as a unique confluence of academic minds, fintech disruptors, policy architects, and industry veterans, united by the theme: “The Metaverse Bankscape for Viksit Bharat @2047: Trends, Tech & Transformation.”

The conference aimed to deepen stakeholder understanding of how cutting-edge technologies — particularly Metaverse, Web3, AI, and blockchain — are redefining banking, accelerating financial inclusion, and reshaping customer experience in India. As banks begin embracing the Metaverse, the concept of virtual banking branches — equipped with virtual and augmented reality (VR/AR) — is making financial services more immersive, interactive, and accessible, especially for remote and underserved populations.

Over 100 participants and 80+ research papers brought rich insights and multi-dimensional perspectives to the evolving digital banking ecosystem. Distinguished speakers included Dr. Praveen K. Choudhary, Global Operations Director, Digital Business at HCL Technologies; Sagar Vaishnavi, Manager at BCG Vantage, Boston Consulting Group; Dr. Atul Tripathi, Honorary Adjunct Fellow at the National Maritime Foundation, Indian Navy; and Samarendra Mohanty, Group CIO at Melstar Information Technologies Ltd.

In his keynote address, Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, highlighted the institution’s digital-first approach. “Today marks a significant moment as we embrace the unlimited possibilities of the Metaverse. With AI-powered case studies, hybrid-board classrooms, and smart learning infrastructure, we’re rewriting the future of education. Initiatives like our AI-powered classrooms and the B.S. Programme in Data Science and Artificial Intelligence are equipping youth with future-ready skills aligned with our Prime Minister’s vision of Viksit Bharat@2047,” he said.

A high-powered plenary session titled “Future of Metaverse Banking & Financial Ecosystem in India” explored strategic pathways for integrating immersive tech with scalable, secure, and user-centric financial models.

Dr. Praveen K. Choudhary said, “The future of banking lies in combining cloud scalability, zero-trust security, and immersive user experience—making technology accessible, secure, and engaging for every individual.”

Samarendra Mohanty added, “To truly innovate in virtual banking, we must first deeply understand customer behavior through data. Technology means nothing without insight.”

Dr. Atul Tripathi emphasized the rising importance of digital trust, saying, “In the era of Metaverse and AI, data protection and cybersecurity are no longer optional—they’re mission-critical. This opens a vast career horizon for leaders in compliance and risk management.”

The session was moderated by Sagar Vaishnavi, who steered the dialogue around India’s readiness to leapfrog into a next-gen financial ecosystem.

With a blend of policy, practice, and pedagogy, the ICMBFT 2025 conference underscored the critical role of collaborative innovation among academia, industry, and government.