Why are NBFCs the next big thing in India’s BFSI industry?

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NBFCNon-Banking Financial Companies (NBFCs) in India are emerging as one of the most promising segments of the Banking, Financial Services and Insurance (BFSI) industry. Be it compound annual growth rate (CAGR), total credit rate or loan and advances, various reports and experts are predicting the onset of a better phase for the NBFCs.

According to rating agency CRISIL, NBFCs are expected to witness a compound annual growth rate (CAGR) of 18 per cent in the next two and a half years. The segment will grow in its share in total credit to 19 per cent by 2020, revealed the report by CRISIL.

The report projected that the Public Sector Banks (PSBs) will be witnessing a further fall of 47 per cent in its share by 2020. However, NBFCs that continued to grow in terms of total credit market, will swipe way PSBs share with their innovative product offerings.

Indicating the growth witnessed by NBFCs in the recent times, Santosh Kumar Gangwar, the Minister of Finance (State) replied in Lok Sabha that the sector has reported an impressive growth of 16.4 per cent pertaining to loans and advances in March 2017.

All these reports indicate a brighter future for NBFCs in India.

Acknowledging this augmentation pertaining to NBFCs, Elets Technomedia is going to organise its next endeavour, the 2nd NBFC100 Tech Summit on 7th December in Bengaluru.

2nd NBFC100 Tech Summit

The summit will be a grand conglomeration of the who’s who from across the NBFCs, Payments Banks and Small Finance Banks industry.

Eminent leaders namely Subrata Gupta, Managing Director, NABARD Financial Services, Ashwin Khorana, Chief Technology Officer, Janalakshmi Financial Services, Hardika Shah, Founder and CEO, Visage Holdings and Finance Pvt Ltd. (Kinara Capital) and many others would be participating in the Summit to add greater significance to the amalgamation.

The first chapter of the Summit (NBFC100 Tech Summit) recently commenced in Mumbai and garnered a lot of popularity in the BFSI industry.

The Banking & Finance Post, Asia’s leading magazine on banking and financial services will be the print partner of this summit.

For further details on the summit please visit: http://bfsi.eletsonline.com/NBFC100/2017