जयपुर, 14 मार्च, 2024: NBFC के निदेशक मंडल ने आज जयपुर में एक बैठक बुलाई, जिसमें भारत की वृद्धि को 7% से आगे बढ़ाने के लिए सहयोगी साझेदारी, फ़ंडिंग संरचना और गैर-बैंकिंग फ़ाइनैंशियल कंपनियों (NBFC) के बीच बेहतरीन कार्यों के लेन-देन की अहम ज़रूरत पर ज़ोर दिया गया। FIDC के अध्यक्ष और श्रीराम फ़ाइनैंस के कार्यकारी उपाध्यक्ष श्री उमेश रेवांकर ने विशेष रूप से सरकार की ओर से तय किए गए महत्वाकांक्षी विकास लक्ष्यों के मद्देनज़र NBFC को एकजुट होने और उसे सहयोग करने की अनिवार्यता के बारे में बताया।

श्री रेवांकर ने इस पर प्रकाश डाला कि ट्रांसपरेंट कम्यूनिकेशन (पारदर्शी संचार) को बढ़ावा देना और अर्थव्यवस्था पर NBFC के सकारात्मक प्रभाव के चारों ओर एक आकर्षक कहानी तैयार करना न सिर्फ़ इस क्षेत्र की विश्वसनीयता को बढ़ाएगा, बल्कि निवेशकों के विश्वास को मज़बूत बनाने में भी अहम भूमिका निभाएगा, जिससे निरंतर विकास और विकास के लिए आवश्यक धन जुटाना आसान हो जाएगा।

वित्तीय समावेशन में NBFC की अहम भूमिका को स्वीकार करते हुए – बैंकिंग क्षेत्र की वजह से हुए अंतराल को दूर करने के लिए – रेवांकर ने सदस्यों की सफलता की कहानियों और पहलों को साझा करने की ज़रूरत पर ज़ोर दिया जो समावेशी विकास के लिए क्षेत्र की प्रतिबद्धता दिखाते हैं। उन्होंने कहा, यह जनसंख्या के कम सेवा वाले वर्गों की सेवा में NBFC की ओर से निभाई गई अहम भूमिका के बारे में सार्वजनिक जागरूकता में योगदान करेगा।

बोर्ड की बैठक में अपने सदस्यों के हितों की पैरवी करने में FIDC की वकालत की भूमिका पर भी प्रकाश डाला गया। चर्चाओं में नियामकों, नीति वकालत की कोशिशों और NBFC पारिस्थितिकी तंत्र को मज़बूत करने के मकसद से सदस्य जुड़ाव कार्यक्रमों की विशिष्ट पहल शामिल थीं।

बड़ी संख्या में NBFC के साथ-साथ राजस्थान से स्थानीय रूप से MSME, उद्यमियों, छोटे व्यापारियों और ट्रांसपोर्टरों को उधार लेने की ओर से बात करते हुए, SK फ़ाइनैंस लिमिटेड के प्रबंध निदेशक श्री राजेंद्र सेतिया ने कहा, “राजस्थान में NBFC क्षेत्र राज्य की आर्थिक क्षमता से प्रेरित होकर अहम विकास के लिए तैयार है। वित्तीय समावेशन को बढ़ावा देने, MSME का समर्थन करने और ग्रामीण विकास को बढ़ावा देने पर ध्यान केंद्रित करने के साथ, NBFC कस्टमाइज़ वित्तीय समाधान देने में अहम भूमिका निभा सकते हैं। प्रौद्योगिकी और डेटा ऐनालिटिक्स का लाभ उठाते हुए, राजस्थान की आबादी की ख़ास ज़रूरतों को पूरा करने के लिए, विशेष रूप से अहम MSME और वाहन वित्त क्षेत्र के भीतर, उद्यमशीलता और समग्र आर्थिक विकास में योगदान करने के लिए पर्याप्त अवसर हैं।”

चुनौतियों का सामना करने पर बोलते हुए, श्री सेतिया ने ऑपरेशन से जुड़े लचीलेपन बनाए रखते हुए अनुपालन पक्का करने के लिए नियामक निकायों के साथ सहयोग की ज़रूरत पर ज़ोर दिया। संवेदनशील वित्तीय डेटा की सुरक्षा के लिए साइबर सुरक्षा के उपाय मज़बूत होने चाहिए और कार्यबल क्षमताओं को बढ़ाने के लिए कौशल विकास पर ध्यान देना ज़रूरी है। उन्होंने आगे कहा कि स्थानीय समुदायों के साथ मज़बूत साझेदारी करना और सांस्कृतिक बारीकियों को समझना भी विश्वास हासिल करने और आउटरीच का विस्तार करने में अहम होगा।

उभरते हुए वित्तीय परिदृश्य ने स्थायी वित्तपोषण के अवसरों सहित नए वित्तपोषण क्षेत्रों पर चर्चा करने के लिए बढ़ावा दिया। सदस्यों ने उद्योग पर डिजिटल परिवर्तन और अभिनव वित्तीय उत्पादों के प्रभाव को देखते हुए, फ़िनटेक फ़र्मों के साथ सार्थक सहयोग के महत्व पर ज़ोर दिया। सदस्यों के बीच बढ़े हुए सहयोग की अनिवार्यता एक प्रमुख विषय के रूप में उभरी, जिसमें इस क्षेत्र में उभरते रुझानों को नैविगेट करने और लाभ उठाने के लिए ज़रूरी सामूहिक कोशिशों पर ज़ोर दिया गया।

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Jaipur, March 14^th, 2024: The Board of Directors of FIDC convened a meeting in Jaipur today, emphasizing the critical need for collaborative partnerships, funding structure, and the exchange of best practices among Non-Banking Financial Companies (NBFCs) to propel India’s growth beyond 7%. Chairman of FIDC and Executive Vice Chairman of Shriram Finance, Mr. Umesh Revankar, underscored the imperative for NBFCs to unite and cooperate, particularly in light of the ambitious growth targets set by the government.

Mr. Revankar highlighted that fostering transparent communication and building a compelling narrative around the positive impact of NBFCs on the economy will not only enhance the sector’s credibility but also play a pivotal role in attracting investor confidence, thereby making it easier to raise the necessary funds for sustained growth and development.

Acknowledging the pivotal role of NBFCs in financial inclusion—addressing gaps left by banking sector —Revankar emphasized the need for members to share success stories and initiatives that showcase the sector’s commitment to inclusive growth. This, he noted, would contribute to public awareness regarding the significant role played by NBFCs in serving underserved segments of the population.

The board meeting also highlighted the advocacy role of FIDC in championing the interests of its members. Discussions encompassed specific initiatives from regulators, policy advocacy efforts, and member engagement programs aimed at fortifying the NBFC ecosystem.

Talking on behalf of large number of NBFCs as well as borrowing MSMEs, entrepreneurs, small traders and transporters locally from Rajasthan, Mr. Rajendra Setia, Managing Director, SK Finance Ltd., said, “The NBFC sector in Rajasthan is set for significant growth, driven by the state’s economic potential. With a focus on fostering financial inclusion, supporting MSMEs, and catalyzing rural development, NBFCs can play a pivotal role in providing customized financial solutions. Leveraging technology and data analytics, there are ample opportunities to address the unique needs of Rajasthan’s populace, especially within the vital MSME and Vehicle finance sector, contributing to entrepreneurship and overall economic growth.”

Speaking on navigating challenges, Mr. Setia emphasized the need for collaboration with regulatory bodies to ensure compliance while maintaining operational flexibility. Cybersecurity measures should be robust to protect sensitive financial data, and a focus on skill development is essential to enhance workforce capabilities. Building strong partnerships with local communities and understanding the cultural nuances will also be pivotal in gaining trust and expanding outreach, he further added.

The evolving financial landscape prompted discussions on newer funding areas, including sustainable financing opportunities. Members stressed the importance of meaningful cooperation with fintech firms, considering the impact of digital transformation and innovative financial products on the industry. The imperative for increased collaboration among members emerged as a key theme, emphasizing the collective effort required to navigate and leverage emerging trends in the sector.

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Mr. Umesh Revankar, the newly elected Chairman of FIDC, expressed his gratitude and enthusiasm for the opportunity. He stated, “It’s an honor to assume the role of Chairman at FIDC, an organization that plays a crucial role in shaping the financial services landscape of our country. I look forward to partnering with members and the community and contribute to the industry’s growth and development during my tenure. FIDC’s commitment to fostering collaboration and innovation is something I deeply resonate with.”

With an illustrious career spanning over three and a half decades, Mr. Revankar has a distinguished career in the financial services industry. Joining as an executive trainee with Shriram Group in 1987, he has risen through the ranks, assuming various responsibilities and key leadership roles in business operations. During his tenure, he played a pivotal role in making Shriram Transport Finance Co. the largest commercial vehicle financer in India. He holds a Master of Business Administration (MBA) in finance from Mangalore University and has also attended an Advanced Management Program at Harvard Business School.

In addition to his contributions to Shriram Finance Ltd., Mr. Revankar serves as a Director for several companies within the Shriram Group, including Shriram Automall India Ltd., Shriram General Insurance Co. Ltd., and Shriram Life Insurance Co. Ltd.

Now, with his election as Chairman of FIDC, Mr. Revankar is poised to lead the organization into a new era of growth and innovation. Assuming the chairmanship for a two-year term commencing on 23rd August, 2023, he brings a strong vision and a deep understanding of the financial services landscape to the role. Under the dynamic leadership of Mr. Revankar, FIDC is poised to spearhead growth and foster innovation within the organization.

Further, to strengthen Mr. Revankar’s hands, Mr. Kamlesh Gandhi, CMD of MAS Financial Services Ltd., and Mr. K V Srinivasan, C E O and WTD, Profectus Capital Pvt. Ltd. will act as the Co-chairmen of FIDC.

About FIDC:
Finance Industry Development Council (FIDC) is a Self-Regulatory Organization (SRO) cum Representative Body of the Non-Banking Finance Companies (NBFCs), registered with the Reserve Bank of India. FIDC was formed in 2004, and is the recognized face of NBFCs, especially those engaged in Assets and Loan financing. We have been engaged in regular interactions both with Reserve Bank of India and Govt. of India, which include pre-budget meetings and important policy related meetings with RBI. Almost all the leading NBFCs and many small and medium sized NBFCs are our members. Headquartered in Mumbai, FIDC is run by the strong Members of the Managing Committee comprising of the most active NBFC heads and the Director General Mr. MAHESH THAKKAR. FIDC has regional chapters and affiliated associations all over India.

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Any NBFC including Microfinance Institutions registered with RBI under the Reserve Bank of India Act, 1934 (excluding those registered as Core Investment Companies) and any HFC registered with the National Housing Bank (NHB) under the National Housing Bank Act, 1987which is complying with the following broad conditions will be eligible to raise funding from the said facility:

a. Compliance with RBI regulations on Capital adequacy
b. Net NPA is less than 6% as on 31.03.2019
c. Net profit in at least one of the two preceding financial years
d. Rated as investment grade by a rating agency
e. Is not reported under SMA-1 or SMA-2 category by any bank for their borrowing during the period one year prior to 01.08.2018

The Scheme will remain open for 3 months for making subscriptions by the Trust.The period of lending (CPs/NCDs of NBFCs/HFCs for short duration of upto 90 days) by the Trust shall be for a period of upto 90 days. The financing would be used by the NFBCs/HFCs only to repay existing liabilities and not to expand assets. Further, those market participants who are looking to exit their standard investments with a residual maturity of 90 days may also approach the SLS Trust.

This facility is a part of the Government of India and RBI’s efforts to alleviate the concerns of the market participants on the availability of fundsto the sector. Those wishing to avail liquidity under the Scheme can apply at info@slstrust.in. Details of the Scheme can be viewed on the website of SBI Capital Markets.

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FIDC has been over the past several years strongly advocating the case of asset-based lending NBFCs, especially the small and medium NBFCs and we are happy to note that the Government has recognised the contribution made by the sector in providing the last-mile financial assistance to under-served sectors such as small road transport operators, contractors, MSMEs and small farmers. FIDC has been requesting for four key measures announced by the Hon’ble Minister today which are:

1. Announcement of Rs 300,000 crores credit guarantee scheme whereby loans given to MSMEs by banks and NBFCs would be guaranteed by the Govt. This would enable NBFCs to provide more finance to MSMEs and at the same time raise loans from lenders on the strength of this portfolio of MSME loans.
2. Provision of Rs 30,000 crores for finance to NBFCs by way of subscription to investment grade NBFC bonds/CPs. FIDC has been requesting for a direct refinance mechanism for smaller NBFCs.
3. Provision of partial first loss guarantee of 20% enabling even unrated NBFCs to raise up to Rs 45,000 crores. FIDC believes that credit rating alone does not reflect the extent of last-mile connectivity and financial inclusion being done by NBFCs. We are pleased that the Govt. has recognised the role being played by smaller NBFCs.
4. Change in definition of MSMEs would have the effect of including many entities which hitherto were excluded from preferential treatment in credit availability. This would increase flow of credit to MSMEs where NBFCs are well placed to play a very active role.

FIDC supports the Government of India in its efforts to revive the economy and pledges to play a constructive and active role in the process.

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