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Informist, Thursday, Feb. 13, 2025

 

--RBI Governor Malhotra met MD, CEOs of select NBFCs Thursday 

--RBI: Governor asked NBFCs to be part of unified lending interface 

--RBI: Governor stressed on balancing growth with sound practices for NBFCs 

--RBI: Governor urged NBFCs to set up prompt grievance redressal mechanism 

 

MUMBAI – Reserve Bank of India Governor Sanjay Malhotra urged non-banking finance companies, in a meeting with chief executive officers and managing directors of some non-bank lenders, to join its Unified Lending Interface, the central bank said in a press release Thursday. The previous such meeting with the top management of non-bank lenders was held on Aug. 25, 2023.

 

Malhotra also stressed upon balancing growth in non-banking finance companies with sound practices to ensure inclusive development, customer protection, and financial stability. He urged the non-bank lenders to set up prompt grievance redress mechanisms and ensure fair treatment of customers.

 

Deputy governors Rajeshwar Rao, T. Rabi Sankar, and Swaminathan J. and the executive directors in charge of regulation, supervision, and financial inclusion at the central bank also attended the meeting, the release said.

 

Representatives of government-owned non-bank lenders, housing finance companies, self-regulatory organizations, Sa-Dhan, Micro Finance Institutions Network, and Finance Industry Development Council also participated in the discussion. The participants shared their insights on the sector and expressed their expectations of the RBI, according to the release.

 

Earlier in the day, Informist had reported that the governor would hold his first formal meeting with heads of some non-banking finance and micro-finance institutions to discuss industry issues.  End

 

Reported by Cassandra Carvalho

Edited by Rajeev Pai

 

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