The CEO of IDFC First Bank argues that digitization is "super important" to increase middle-class savings.

The CEO of IDFC FIRST Bank, V Vaidyanathan, stated that increasing digitalization can make "wealth management more accessible" to all segments of society and that it is "super important" to increase middle-class savings. The banker added that as India is expected to grow significantly in the upcoming years, it is crucial to make these benefits accessible to the middle class during his speech at the Moneycontrol Global Wealth Summit 2025 in Mumbai on March 7. Because wealth management is mostly a human endeavor, those with balances of roughly Rs 20 to Rs 50 lakh are typically able to afford it. In the coming years, one of the most important issues to face would be how to grow this market for regular people, Vaidyanathan stated. "Those who are just off the radar and have earnings, say for example, between Rs 1 to 2 lakh a month and who save Rs 20,000-30,000 a month, that is wealth in their life," he said, adding that wealth management and multiplication are excellent for those who already have it. At the Moneycontrol Global Wealth Summit 2025 in Mumbai, IDFC FIRST Bank CEO V Vaidyanathan highlighted the crucial role of digitalization in making wealth management more accessible to the middle class. He pointed out that traditional wealth management services typically cater to individuals with substantial balances of ₹20–50 lakh, as they are largely driven by human advisors. However, he stressed that a large segment of the middle class, earning between ₹1–2 lakh per month and saving ₹20,000–30,000 monthly, also requires financial tools to grow their wealth. Vaidyanathan emphasized that digital solutions can bridge this gap by providing scalable and affordable wealth management services, ensuring broader financial inclusion. As India moves towards significant economic growth, he underlined the need to integrate the middle class into structured wealth-building strategies, making financial growth an attainable goal for all.