NBFCs are getting a lot of support from the new players such as payments banks, small finance banks etc in the banking industry for running successfully within the urban populace. In addition to this, Micro -Small and Medium Enterprises (MSMEs) are also extending its helping hand in towards this sector. With the help of these new entrants, NBFCs are also perking up their digital quotient.
However, the NBFCs will have to pass through a lot of hardships for making up a mark in the rural areas due to the extensive penetration of cooperative banks.
NBFC100 Tech Summit 2017 – Inaugural Session – Non-Banking Financial Companies: Rising Significance in Providing Niche Banking and The Road Ahead – Aniruddhe Mukherjee, Principal Secretary, Department of Finance, Government of Madhya Pradesh
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