TryGOLD- Free

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.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

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

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS STANDARDView All
Excessive financialisation can hurt economy
Business Standard

Excessive financialisation can hurt economy

The Economic Survey of 2024-25, tabled in Parliament on Friday, has identified financialisation as a risk and said such a phenomenon has resulted in unprecedented levels of public- and private-sector debt in developed economies.

time-read
2 mins  |
February 01, 2025
Balance climate action with fossil fuel investments
Business Standard

Balance climate action with fossil fuel investments

India's climate goals: More adaptation, less Chinese dependence

time-read
2 mins  |
February 01, 2025
External debt remains stable amid global uncertainties
Business Standard

External debt remains stable amid global uncertainties

The Economic Survey noted that India's external debt has remained stable over the past few years.

time-read
1 min  |
February 01, 2025
Trump Repeats Tariffs Threat to Dissuade BRICS From Replacing $
Business Standard

Trump Repeats Tariffs Threat to Dissuade BRICS From Replacing $

President Donald Trump on Thursday warned off BRICS member countries from replacing the US dollar as a reserve currency by repeating a 100 per cent tariffs threat he had made weeks after winning the November presidential elections.

time-read
1 min  |
February 01, 2025
Fed, Powell on defensive as diversity effort comes under fire
Business Standard

Fed, Powell on defensive as diversity effort comes under fire

Donald Trump's offensive against diversity, equity and inclusion programs is putting the US central bank in an uncomfortable squeeze.

time-read
2 mins  |
February 01, 2025
Apple's forecast cheers investors after mixed Q1
Business Standard

Apple's forecast cheers investors after mixed Q1

Revenue from China slips 11% as local competition rises

time-read
1 min  |
February 01, 2025
Sun Pharma Q3 net up 15% at ₹2,903 cr
Business Standard

Sun Pharma Q3 net up 15% at ₹2,903 cr

Rise due to domestic, emerging mkts

time-read
2 mins  |
February 01, 2025
Incentivise public transport, not private electric vehicles
Business Standard

Incentivise public transport, not private electric vehicles

Incentivising public transportation rather than private electric vehicle (EV) production is a more viable path for energy transition and reduced carbon emissions in India, as the latter is dependent on high amounts of imports from countries like China, the Economic Survey said on Friday.

time-read
1 min  |
February 01, 2025
Survey outlines reforms agenda for 'Viksit Bharat'
Business Standard

Survey outlines reforms agenda for 'Viksit Bharat'

Butterfly and Dragon becomes the talking points in the Economic Survey 2024-25. For many readers, the curiosity would be more on what the Survey says about growth and inflation outlook for FY26.

time-read
3 mins  |
February 01, 2025
Business Standard

Sebi raises concerns over greenwashing by India Inc

Securities and Exchange Board of India's (Sebi's) whole-time member (WTM) Amarjeet Singh on Friday voiced concern over greenwashing and misleading disclosures related to environment, social, and governance (ESG) metrics.

time-read
1 min  |
February 01, 2025

We use cookies to provide and improve our services. By using our site, you consent to cookies. Learn more