NBFCs don't need bank status to succeed, say top leaders at BFSI Summit

At the BSFI Summit, heads of non-banking financial companies (NBFCs) emphasized that they do not need to become banks to survive and thrive. They highlighted the unique strengths of NBFCs and their role in the financial ecosystem. The NBFC leaders discussed the importance of innovation, customer-centricity, and agility in driving growth. They also addressed the challenges faced by the sector, including regulatory changes and competition from fintech companies. The summit provided a platform for NBFCs to share best practices and explore opportunities for collaboration. The discussions underscored the resilience and adaptability of NBFCs in navigating a dynamic financial landscape.