Thriving NBFC Industry - CloudBankin – A digital loan software by Habile Technologies

India’s NBFC (Non-Banking Financial Companies ) industry is thriving and diversifying rapidly.

How many: 9000+ NBFCs in India 
Assets worth: ₹54 lakh crore, 
Equivalent to: 25% of the asset size of the banking sector.

It is NBFCs that have opened the door to inclusive growth by bridging the gap between the underbanked consumers and the financial services.

What led to the growth? 
1) Targeting unorganized & underserved segments of the economy
2) Providing last-mile delivery and enhanced customer experience.
3) Segment-specific products
4) Leveraging technology for effective product models, wider reach, and risk mitigation. 
5) Co-lending programs to attract a broader consumer base.

NBFCs are evolving into a one-stop financial superstore. What else do you think is contributing to their growth?

#manispeaksmoney #fintech #NBFCs #NBFCIndia

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