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RBI Must Come Out With Road Map for NBFCs to Become Banks
Business Standard|January 29, 2025
Shriram Finance, one of the largest retail non-banking financial companies in the country, has seen its net profit go up by 73 per cent in the October-December quarter, owing to a one-time gain from the sale of Shriram Housing Finance. The company's Executive Vice-Chairman, UMESH REVANKAR, talks to Shine Jacob about the road map after the deal, growth in the financial year 2025-2026 (FY26), and the third-quarter results in a telephonic interview. Edited excerpts:
- Shine Jacob

What's next for you after the Shriram Housing deal? Will you be targeting becoming a bank in the future?

We did the deal because we wanted to focus on the core business. Our focus will remain on the core business of lending to small entrepreneurs. If we have to do anything in the financial system, we have to focus on the road map given by the Reserve Bank of India (RBI). The RBI should come out with the road map for NBFCs to become banks.

Until then, we cannot even imagine this.

As and when the RBI comes out with a road map, we will relook at the way we do business and make the necessary changes.

Shriram Finance's gold loan assets under management (AUM) has declined. How are you looking at this business?

This story is from the January 29, 2025 edition of Business Standard.

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This story is from the January 29, 2025 edition of Business Standard.

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