Role of NBFCs as catalyst in economic growth

In Conversation with Kamlesh Gandhi, Founder and CMD, MAS Financial Services

In the past few years, the financial sector has witnessed a significant transformation, and Non-Banking Financial Companies, aka NBFC, have played a pivotal role in that swift.

Non-banking financial companies (NBFCs) play a pivotal role in the Indian finance system and have taken a significant leap in the last 15 years. These financial entities after seeking NBFC registration have penetrated remote areas of the country. They offer credit facilities to those millions of individuals and small businesses that are often ignored by banks.

NBFCs continue to reap immense success in the financial sector and its contribution has surpassed that of the traditional banks. NBFCs are undergoing a great technological innovation and revolution to disrupt how financial services have been made available to individuals, businesses and entrepreneurs. Every day new technologies enter the market. Blockchain, video KYCs, Chatbots.

How do organizations meet the pace of innovation? What are the key challenges NBFCs encounter in India?

In response to some of these questions, Kamlesh Gandhi, Founder and CMD, MAS Financial Services, shared his insights. For more information, watch the video.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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