RBI Governor underscores significant role played by NBFCs in credit intermediation

Sanjay Malhotra, Governor, Reserve Bank of India today held a meeting with the Managing Director & Chief Executive Officers of select Non-Banking Financial Companies (NBFCs) across all layers, including Government NBFCs, Housing Finance Companies and Micro-Finance Institutions. These NBFCs constitute nearly 50 per cent of the total assets of the NBFC sector. Representatives from Self-Regulatory Organizations (SROs), Sa-Dhan and Micro Finance Institutions Network (MFIN), as well as from Finance Industry Development Council (FIDC) also participated in the meeting. The meeting was a part of the Reserve Bank's series of engagement with the Boards and Senior Management of its Regulated Entities. The previous such meeting with select NBFCs was held on August 25, 2023. The Governor underscored the significant role played by NBFCs in credit intermediation, particularly in making credit available for small businesses and niche segments. Highlighting the collaborative efforts required between the Reserve Bank and the NBFCs, the Governor stressed upon balancing growth aspirations with sound practices for ensuring inclusive development,

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