The high value of funding, Open API platforms like UPI, Aadhaar, GSTN and Bharat Bill Payments, and the large number of smartphone and internet users are some of the drivers fuelling a boom in the financial which is very important for the economy. The NBFC sector has systemic linkages with the capital market and other financial entities as well as the banking sector. Despite the difficulties caused by covid in the fiscal years 2019 and 2020, most NBFCs has managed to keep the momentum going in the face of challenges.
This report delves into some of these challenges and offers insights into the road ahead. About 50 CEOs and CXOs representing NBFCs and Fintech sector participated were surveyed on their business growth prospects and industry outlook for the near future.
Undoubtedly, the path that various companies take to fuel their growth varies. While some companies like Aditya Birla and Art Housing focus exclusively on retail lending, there are others like NAFA and Mufin Finance that focus on the SME sector. However, a majority of the NBFCs cater to a wider variety of customers ranging from students to MSMEs. Companies like Spandana and Svatantra Microfin have carved a niche in the micro finance sector.
Dvara Kshetriya Gramin Financials is a company that is serving the rural parts of India in 6 states and has various kinds of loans like group loan, individual loan, and even enterprise loan. According to the company’s former CEO, Joby CO: “Our mission is to maximise the financial well-being of every individual and every enterprise by providing complete access to financial services in remote rural.”
Denne historien er fra December 2021-utgaven av Banking Frontiers.
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Denne historien er fra December 2021-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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