Happy as NBFC unless there's glide path to becoming a bank: Umesh Revankar

Microfinance can never be a sunshine sector because every 5-6 years it gets into some kind of challenges, says Revankar

Umesh Revankar, executive vice-chairman of Shriram Finance, speaks to Manojit Saha and Subrata Panda in Mumbai about why the company is content remaining a non-banking financial company (NBFC), the segments it is currently focusing on, and how it plans to maintain a steady growth of 15 per cent, given the current economic growth of the country. Edited excerpts:

 

What is stopping you from becoming a bank? 

The regulatory requirement for banks is very high. It may look like NBFC and bank regulations are the same, but they are not. Also, you need to have a huge deposit franchise to become