To ensure disciplined and healthy growth of NBFCs.
To provide proper protection to the depositors/investors.
To redress individual grievances of members.
To have effective liaison with the regulators and the government.
To assist the regulators in the policy formation and monitoring of the Sector.
To achieve effective co-ordination amongst the members in matters of common interest.
To ensure that each member company functions effectively as part of the financial system.
To improve the image and enhance the credibility of the Sector in order to infuse confidence in the minds of depositors, investors.
Ensuring sustainable growth of Assets & Loan Financing NBFCs in India
To ensure disciplined and healthy growth of NBFCs.
To contribute to development of the non-banking financial sector in India by promoting self-regulation, compliance and governance among members and to act as a bridge between lending NBFCs and the regulators.
Finance Industry Development Council (FIDC) is a Representative Body of NBFCs into Assets and Loan Financing in India. FIDC was formed 15 years ago and is the recognized face of the NBFC sector. We have been engaged in regular interaction both with Reserve Bank of India and Govt. of India, which include pre-budget meetings and also important policy related meetings with RBI. Almost all the leading NBFCs and a large number of small and medium sized NBFCs are our members.
The Managing Committee of FIDC gives representation to small/medium and large NBFCs. The Managing Committee Meetings are held at least, once in every quarter in major cities of Mumbai, Delhi, Chennai and in other cities on rotation basis. We ensure detailed interaction with the Regional Associations/Leading local players either before or just after our Managing Committee meetings.
Playing the role of a Self-Regulatory Organisation (SRO) on a voluntary basis, FIDC has a Code of Conduct for the members and made all efforts to bridge the communication gap between the regulator and the regulated.
– Invited by the Finance Minister for Pre-budget discussion since past many years
– Invited by Governor / Dy Governor and other senior officials at RBI for Policy and supervision related matters
– Invited by RBI to address senior state govt. and state police officers
– Invited by Economic Advisory Council to the P.M. for discussion on steps to be taken to boost credit off take in retail lending
– Invited by ALL the relevant Expert Committees / Task Force setup by Govt of India / RBI
– Invited by Parliamentary Standing Committees on Finance, Insolvency & Bankruptcy Code and SARFAESI Act on Legislative enactments/amendments
– Invited to present at the leading National and International Conferences/Conventions
– Invited to be Spokesperson and Panel Discussion on various aspects by Print & Electronic Media
– After consultation with FIDC, Govt. of India announced a special line of credit for NBFCs engaged in commercial vehicle financing in the stimulus package announced in January, 2009
– “FIDC Handbook on Repossession“ – A comprehensive document on all aspects relating to Repossession in case of default – Released by Dr. Justice AR. Lakshmanan, Former Supreme Court Judge and Chairman, Law Commission of India
– “FIDC News” – A newsletter circulated on quarterly basis (latest copy enclosed herewith)
– – World Bank Group has collaborated with FIDC to conduct Training Programmes for NBFCs
– Symposium on Movable Asset Financing organised jointly by FIDC and World Bank Group on Feb 22, 2017
Recently, we have taken some new initiatives in the form of changing gears from playing a “reactive” role to a “proactive” role. We are currently in the process of initiating dialogues and meetings with all stakeholders :- Ministry of Finance, Ministry of Road Transport & Highways, Reserve Bank of India, Indian Banks Association, SIAM with a common agenda of creating a system of regular engagement with them.
It is not only important, but almost essential, that a leading player like you should be an integral part of FIDC. On behalf of the Managing Committee, I hereby extend our Invitation to you to enrol your company as an esteemed member of FIDC.
This shall not only provide an opportunity for you to raise your concerns but also give us an opportunity to enrich and enhance our knowledge and understanding, from your valued experiences and views. This shall then go a long way in further strengthening the body and enhance its reputation.
The Managing Committee Members of the FIDC are and will always be nominated in the manner that there is proper representation given to small companies. Even, one of the positions from either Chairman or Co-Chairman will at all times be from small NBFCs.
FIDC will work in totally democratic and decentralized manner with full delegation of all powers and authorities to regional chapters and affiliated associations.
FIDC GOVERNING COUNCIL MEMBERS
FINANCE COMPANIES ASSOCIATION (INDIA), CHENNAI
DELHI HIRE PURCHASE & LEASING COMPANIES ASSN., NEW DELHI
HIRE-PURCHASE & LEASE ASSOCIATION, KOLKATA
PUNJAB & HARYANA FINANCE COS ASSOCIATION, JALANDHAR
GUJARAT FINANCE COMPANIES ASSOCIATION, AHMEDABAD
Apart from Managing Committee, FIDC works through its various expert Committees. These Committees have several members drawn from active and important NBFCs and these members are experts in their respective field. The following are the names of the Committees and their respective Chairmen.
|SR. NO.||NAME OF THE COMMITTEE||CHAIRMAN|
|1.||Representation Committee||Mr. K. V. Srinivasan, Director, Profectus Capital Pvt. Ltd.|
|2.||Legal Committee||Mr Narayanann, Head-Legal, Sundaram Finance Ltd.|
|3.||CFO Committee||Mr. S. Sunder, Executive Director, Shriram Transport Finance Co. Ltd.|
|4.||Professional Development Committee||Mr Raman Aggarwal, Director, Paisalo Digital Ltd.|
|5.||Membership Development Committee||Mr. Alok Sondhi, M.D., PKF Finance Ltd.|
|6.||Grievance Redressal Committee||Mr. Mukesh Gandhi, Director, Mas Financial Services Ltd.|
Mr. Mahesh Thakkar,
Finance Industry Development Council (FIDC),
T: 9122 21029898
M: 91 9820035553
101/103 Sunflower, 1st floor,
Rajawadi Road No.2, Ghatkopar (East),
D-24, Gandhi Market, 1st Floor,
M.G. Road, Ghatkopar (East),