Considering Licenses To NBFCs The proposal in the budget to issue new bank licenses to private players, especially NBFCs is a welcome one. We are yet to receive the full details of the proposal. We will be able to decide on our action plans only after receiving the complete details. However, this is an indication of the recognition on the part of the Government of the increasing role played by NBFCs in meeting the credit gaps of the unorganised sectors in the rural and semi urban areas. This is a welcome step in boosting the economic growth of the nation, since NBFCs have a better grasp of the credit needs of the people at the lower strata of the economic pyramid.Mr. Thomas George Muthoot,
Director,
Muthoot Pappachan Group
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