 "(From left) Indiabulls Housing Finance Vice-chairman and MD Gagan Banga, Multiples Alternate Asset Management Founder and CEO Renuka Ramnath, Business Standard Consulting Editor Tamal Bandyopadhyay, former Reserve Bank of India Deputy Governor S S Mu")
Over the past 10 years, non-banking financial companies (NBFCs) and housing finance companies (HFCs) have grown from being specialist financiers to companies grabbing market share from banks, especially state-owned ones, in the wake of various issues plaguing the banking sector. However, some of that success has come undone recently in the wake of the defaults by Infrastructure Leasing & Financial Services (IL&FS). Top experts discuss the way ahead for NBFCs. Edited excerpts from the Business Standard NBFC Round Table:
How do you see the present situation of non-banking finance companies (NBFCs) after the IL&FS problem?
Gagan Banga: There is undoubtedly a crisis.
