Moderated by Manoj Agrawal, Group Editor, Banking Frontiers, eminent personalities like Shachindra Nath, Executive Chairman & MD of U GRO Capital, Sabyasachi Rath, CEO, Karvy Financial Services, Sanjay Sharma, MD & CEO, AYE Finance, Nehal Mehta, Head of Business Development, Financial Services Industry at Amazon Web Services and Arun Nayyar, CEO, NEO Growth Credit, deep-dived into the set theme of discussion ‘Re-thinking strategies for the new world.’
NBFCs, long considered a second cousin to banks, are slowly fighting their way up the recognition pyramid. They are putting themselves on the map, like in the case of UGRO Capital which recently tied up with Bank of Baroda. What has led to this turn around?
One of the ways that NBFCs have assuaged this is through a change in the leadership mindset. The Executive Chairman and & MD of UGRO Capital, Shachindra Nath believes: “What this segment needs are the innovators and problem-solvers because if you’re not solving a problem of a segment of the market, there is no value proposition available to you.”
The under penetration of India credit market is vast and the possibilities for newer financial institutions are endless. The concerns and roadblocks these institutions could face will also be challenging because of the very dynamic nature of technology. Shachindra Nath says: “Technology is not really the constraint, but our ability to keep enhancing it is one. And for the financial services industry, especially for lending, it is a constraint of mindset.”
This story is from the September 2021 edition of Banking Frontiers.
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This story is from the September 2021 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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