NBFCs are an essential source of financing and will play a key role in taking the Indian Economy to $5 trillion. NBFCs have mastered the art of banking the unbanked segment of the society in both urban and rural areas. A deep-rooted understanding of the customer, the local geography, and prevailing market dynamics across various regions, coupled with the flexibility in operations based on the borrower’s needs, have been the key elements of their success. Policy-makers have been taking steps to alleviate the problems in the NBFC sector. The session will throw light on the role of NBFCs in India’s $5 trillion economy target, the expected policy changes which can impact the part of small industries and NBFCs, and all you want to know about NBFCs.
- The Indian economy has almost reached a GDP of $3.1 trillion, and we are ranked 5th globally.
- There are 12 types of NBFCs according to RBI’s classification. More than 9500 NBFCs are operating in India as of January 2022, and their total asset value is estimated to be INR 25 lakh crore rupees.
- Regulatory practices will play a vital role in the future of NBFCs. The cost of compliance will increase significantly for all NBFCs soon.
- The partnership between mid-sized NBFCs and fintechs creates opportunities for fintechs to design alternate scoring models and reach new geographies and new customer segments.
- NBFCs have the capital, whereas fintechs, on the other hand, have niche products and alternative scoring models and can deliver credit efficiently. So, the partnerships/ collaborations between them are successful for both.
He has around 20 plus years of experience in Banking in all cross functions from credit, product, and sales. Also, he dealt with clients across geographies and supply chains with excellent knowledge of all assets, trade, and liability products across sectors from Corporate, Government departments, State and Central PSUs, Financial Institutions, NBFCs’, Reality, Start-Up, mid-market, and small businesses.
Head IT and IS Aadhar Housing Finance Ltd
Sharad Jambukar is the CIO of Aadhar Housing Finance, managing the overall IT portfolio with digital platform and innovation, cloud adoption, and cybersecurity. He is a certified ISMS Lead Auditor and ITIL Framework. Also, he received Banking Frontier-NBFC 2021 Awards for Best Cybersecurity, Best API, Omnichannel Experience Initiatives, and Asian Celent Model Insurer-2014 Award for Offline Policy Issuance POS for financial product distribution.
Managing Director and CEO Sustainable Agro-commercial Finance Ltd
He is currently serving as a Managing Director and CEO at Sustainable Agro-commercial Finance Ltd. with 30 plus years of experience in the Banking sector. He worked at the Bank of Maharashtra in different positions as Officer, Branch Manager, and Credit Manager at the Regional level. Also, he worked with Axis Bank, handled PAN India agribusiness, and worked as a product head in commodity finance with HDFC bank.