{"id":223490,"date":"2020-01-09T09:00:23","date_gmt":"2020-01-09T03:30:23","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=223490"},"modified":"2020-01-09T18:03:04","modified_gmt":"2020-01-09T12:33:04","slug":"symposium-on-nbfcs-fintechs-in-india-the-road-travelled-way-forward-session-1","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/09\/symposium-on-nbfcs-fintechs-in-india-the-road-travelled-way-forward-session-1\/","title":{"rendered":"Symposium on \u2018NBFCs &#038; FinTechs in India: The Road Travelled &#038; Way Forward\u2019 | Session 1"},"content":{"rendered":"<h4 style=\"text-align: center;\"><span style=\"color: #008000;\"><b>Session 1 &#8211; Can NBFCs fulfill India\u2019s Financial Inclusion goals?<\/b><\/span><\/h4>\n<p><strong>[L-R \u2013 Mr Marko Carevic; Col. Sarpreet Benipal; Mr Mahesh Thakkar; Mr Sanjeev Goel]<\/strong><\/p>\n<p style=\"text-align: justify;\">Financial Inclusion is an important agenda for Reserve Bank of India and Government of India. The National Strategy for Financial Inclusion 2019-24 has also been prepared. NBFCs began functioning as financial institutions that cater to the needs of those who are unable to obtain loans from banks and other financial institutions. Today NBFCs are an important credit institution for the ecosystem of start-ups, micro, small and medium enterprises, small businesses, handicrafts and cottage industries. As part of financial inclusion strategy, RBI has allowed scheduled commercial banks to co-originate loans with non-deposit taking systemically important NBFCs for credit delivery to the priority sector. The panel discussed the important role of NBFCs in fulfilling the financial inclusion goals of India, key impediments and possible solutions.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<!--[if lt IE 9]><script>document.createElement('video');<\/script><![endif]-->\n\t<div class=\"wp-playlist wp-video-playlist wp-playlist-light\">\n\t\t<video controls=\"controls\" preload=\"none\" width=\"1324\"\n\t\t height=\"745\"\t><\/video>\n\t<div class=\"wp-playlist-next\"><\/div>\n\t<div class=\"wp-playlist-prev\"><\/div>\n\t<noscript>\n\t<ol>\n\t\t<li><a href='https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/Col.-Sarpreet-Benipal-1.mp4'>Col. Sarpreet Benipal - 1<\/a><\/li>\t<\/ol>\n\t<\/noscript>\n\t<script type=\"application\/json\" class=\"wp-playlist-script\">{\"type\":\"video\",\"tracklist\":true,\"tracknumbers\":true,\"images\":true,\"artists\":true,\"tracks\":[{\"src\":\"https:\\\/\\\/www.scconline.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/Col.-Sarpreet-Benipal-1.mp4\",\"type\":\"video\\\/mp4\",\"title\":\"Col. 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[L-R \u2013 Mr Marko Carevic; Col. Sarpreet Benipal; Mr Mahesh Thakkar; Mr <\/p>\n","protected":false},"author":8808,"featured_media":223489,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1191],"tags":[38973,38974,37092],"class_list":["post-223490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-op-ed","tag-financial-inclusion-goals","tag-fintechs","tag-nbfcs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Symposium on \u2018NBFCs &amp; FinTechs in India: The Road Travelled &amp; Way Forward\u2019 | Session 1 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/09\/symposium-on-nbfcs-fintechs-in-india-the-road-travelled-way-forward-session-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Symposium on \u2018NBFCs &amp; FinTechs in India: The Road Travelled &amp; Way Forward\u2019 | Session 1\" \/>\n<meta property=\"og:description\" content=\"Session 1 &#8211; Can NBFCs fulfill India\u2019s Financial Inclusion goals? 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Their key function\u2026","rel":"","context":"In &quot;OP. ED.&quot;","block_context":{"text":"OP. 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At the same time, there is a need for\u2026","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":250479,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/30\/rbi-issues-guidelines-on-declaration-of-dividends-by-nbfcs\/","url_meta":{"origin":223490,"position":2},"title":"RBI issues guidelines on declaration of dividends by NBFCs","author":"Prachi Bhardwaj","date":"June 30, 2021","format":false,"excerpt":"The Reserve Bank of India has issued circular dated June 24, 2021 prescribing the guidelines on distribution of dividend by NBFC\u2019s. The guidelines shall be applicable to all NBFCs regulated by RBI and shall be effective for declaration of dividend from the profits of the financial year ending March 31,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":239113,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/12\/rbi-announces-co-lending-by-banks-and-nbfcs-to-priority-sector\/","url_meta":{"origin":223490,"position":3},"title":"RBI announces Co-Lending by Banks and NBFCs to Priority Sector","author":"Bhumika Indulia","date":"November 12, 2020","format":false,"excerpt":"Co-Lending Model \"Co-Lending Model\u201d (CLM), is to improve the flow of credit to the unserved and underserved sector of the economy and make available funds to the ultimate beneficiary at an affordable cost, considering the lower cost of funds from banks and greater reach of the NBFCs. Detailed features of\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":229910,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/21\/cabinet-approves-special-liquidity-scheme-for-nbfcs-hfcs-to-address-their-liquidity-stress\/","url_meta":{"origin":223490,"position":4},"title":"Cabinet approves Special Liquidity Scheme for NBFCs\/HFCs to address their Liquidity Stress","author":"Bhumika Indulia","date":"May 21, 2020","format":false,"excerpt":"Union Cabinet, has given its approval to the proposal of the Ministry of Finance to launch a new Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) to improve liquidity position of the NBFCs\/HFCs. Financial implication: The direct financial implication for the Government is Rs. 5\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":225086,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/02\/07\/the-road-that-needs-to-be-paved-for-central-kyc-in-india-part-i\/","url_meta":{"origin":223490,"position":5},"title":"The Road that Needs to be Paved for Central &#8211; KYC in India (Part-I)","author":"Bhumika Indulia","date":"February 7, 2020","format":false,"excerpt":"(Anuroop Omkar, Director, Bridge Policy Think Tank and Aditi Jha, Consultant, Bridge Policy Think Tank) The idea for this write-up finds its inception from the discussion at the Panel Discussion at the Symposium on \u2018NBFCs & FinTechs in India: The Road Travelled: Way Forward\u2019 held in New Delhi on 19\u2026","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/BANNER-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/223490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=223490"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/223490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/223489"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=223490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=223490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=223490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}