'See JFSL's loan biz entry as opportunity for partnership'

THE entry of Jio Financial Services (JFSL), a Reliance Industries group company, would only help boost credit growth in the country, says YS Chakravarti, CEO of Shriram Finance, the country's second largest Non-banking Financial Company (NBFC).

- DIPAK MONDAL

In an interaction with the New Indian Express, Chakravarti said he does not see JFSL's entry into the loan business as competition, instead sees it as an opportunity for partnership.

"I wouldn't call it competition because segmentwise it is different. The advantage today is that everybody is growing. You don't see any NBFC that is not growing. The requirement of credit is so much that at different levels, there is room for a lot more lenders," he says. Chakravarti says he has always advocated that banks, NBFCs and fintechs should work together as partners rather than competitors.