2nd National Summit on
Non-Banking Finance Companies – The way forward

Currently it is estimated that the NBFCs sector is appx. 15% of scheduled commercial banks in the country. There is no denying the fact that the sector has grown tremendously over the years in size, form and complexity, with some of the NBFCs entering sectors like insurance, broking, mutual fund and real estate. This has lead to their enhanced credibility in contributing in the National economy.

 

With an objective to contemplate the issues and challenges being faced by NBFCs and suggest measures that can be taken to optimize their contribution thereto ASSOCHAM in partnership with Finance Industry Development Council (FIDC)-A Self Regulatory Organization of Asset Financing NBFCs are organizing a summit on “Non-Banking Finance Companies – The way forward ” on 23^rd January, 2015 in New Delhi.

 

There will be presentation/ panel discussions for these topics, to arrive at a shared understanding of the issues on hand, and a list of initiatives for the authorities/stakeholders to take forward for overall industry development.

 

Broadly, the summit will deliberate on the following topics:

 

a)      Meeting the funding requirement of the NBFC sector adequately

b)      Maintaining the existing NPA classification norms

c)      Bringing NBFC sector under the ambit of the SARFAESI Act.

d)     Addressing concerns on capital Adequacy requirement

e)      Resolving tax related issues in line with banking companies.

f)       Current restrictions and challenges

g)      NBFCs converting to banks; benefits & challenges

h)     Compliance & Regulation (UFRA)

i)        Realignment of regulatory regime with Long-term interests of NBFC