Increasing Role of NBFCs in Building a new India
Brickwork Ratings was the Silver Partner
BWR non-banking financial company (NBFC) are emerging as an alternative to mainstream banking. Besides, they are also emerging as an integral part of Indian Financial System and have commendable contributions towards core development of Infrastructure, transport, employment generation, wealth creation, economic development despite of all the rapidly changes new technologies. They have been to some extent successful in filling the gap in offering credit to retail customers in underserved and unbanked areas.
Hon’ble Prime Minister’s has recognised several times and addressed the role and importance of NBFCs ‘s inclusive growth for the country in term of coverage of NBFCs under the Credit Guarantee Scheme (CGTMSE). This is also observed that leading global financial institution like the World Bank and investment fund has recognised the importance of NBFC and Domestic financial institutions like NABARD and SIDBI have come forward to initiate the refinancing of NBFCs.
ASSOCHAM organised its fifth edition of NBFCs summit in Mumbai. Brickwork Ratings was the ‘Credit Ratings Partner’ at the event. This was a full day long conference, with all eminent speakers from NBFC & MFIs sectors, wherein they highlighted the overall success of NBFC for Promoting economic growth of India with case studies; discussed the challenges through panel discussions and explored ways in which technology is changing the face of this industry. This summit also provided a platform to discuss the various strengths, opportunities, challenges and problem faced by this sector and charting a roadmap for the future of NBFCs.
Market participants from Government officials and Regulators, Non-Banking Finance Companies, Micro Finance Institutions Companies, Banking and Financial organizations, Payment Gateway/ Cash Management/Security, Executives from the MSME sector, Venture Capitalists & Angel Investors, Technology Service/ IT Solution Provider, Mobile Banking/ Core Banking Solution Provider Solution Providers and others were present at the event.
The Main Focus Areas the Event Deliberated were on
- NBFCs and its Diversifying Role
- Financial Disruption: Laying Digital Footprints to drive financial inclusion's
- The role of Financial Inclusion: The success story of NBFC’s and Micro Finance
- Challenges & Opportunities in NBFCs
- Modifying Framework of NBFCs
- Role of Regulatory Bodies
- Role of Technology in NBFCs
- Regulations: Its Evolution & changes ahead
- P2P Lending
- Impact of GST
- Allowing NBFCs to take deposit
- High customer acquisition costs