The Financial sector is a good indicator of the progress that India making. With thehelp of strong policy framework by the Government and with leading support of marketstrategy the sector is receiving a great economic participation from a large number ofpeople in the entrepreneurial landscape.
And I believe that is where the opportunity for NBFCs in India will be found. From apolicy perspective new RBI guidelines on NBFCs regarding capital requirementsprovisioning norms and enhanced disclosure requirements are all expected to benefit thesector over the long run setting the stage for stronger well-governed NBFCs to competefairly in the marketplace.
We have certainly reported an encouraging performance in FY 2016-17 yet there isalways room for improvement. We will further sharpen our focus on various aspects thatwill make scaling-up relatively risk-neutral. In short although a medium-sizedorganisation we ourselves must maintain a nimbleness and entrepreneurial spirit. Thisthinking must apply to all levels in the organisation starting from the Board to theExecutive Management and expanding to the field force.
I am pleased to report that to move into the future our primary focus will be ongrowth and for that the board members of the Company have decided to broaden and todiversify the business activities and operations in the area of forex market as a moneychanger Gold Loan House Loan and Vehicle Loan and made the application to RBI forapproval. All the proposed activities are profitable for the Company and responsiblyprovide attractive returns over the long term for our shareholders.
Lastly at Advik Capital we are working to create value not just for our shareholdersbut also for the communities in which we operate and the society at large. We areconscious of our responsibility as a corporate citizen and seek to play our part in makinglives better.
I would like to thank our shareholders for their immense support as we steadily andconsistently develop your Company into one of the leading financial organizations inIndia. As India continues to take its place as perhaps the most dynamic economy in theworld we will endeavour to grow in tandem with this great country for the benefit of allthe varied and important stakeholders of Advik Capital.
|Yours Truly |
|Virender Kumar Agarwal |
|Chairman / Managing Director |