 "self-regulatory body (SRO), NBFC, Banking")
“The nature of our business models is diverse in terms of size, focus and customer segmentation and it’s very hard for us to be on a common platform”, says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO) of Arka Fincap, a five-year-old non-banking financial company (NBFC). And this has become a hurdle for legacy NBFCs to set up a self-regulatory organisation (SRO).
The Finance Industry Development Council set up in 2004 was meant to be an SRO, but it cannot lay claim to represent the entire industry. “It’s not that efforts have not been made in the past to
