Ensuring sustainable growth of Assets and Loan Financing NBFCs in India.
To contribute to development of Non-Banking Financial Sector in India by promoting self-regulation, compliance and governance among members and to act as a bridge between lending NBFC’s and the regulators.
- To ensure disciplined and healthy growth of NBFC.
- To ensure that each member company functions effectively as part of the financial system.
- 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 improve the image and enhance the credibility of the Sector in order to infuse confidence in the minds of depositors, investors.
Finance Industry Development Council (FIDC) is a Representative Body of Asset and Loan Financing of the NBFCs registered with the Reserve Bank of India. FIDC was formed 16 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.
-Pro-active and responsive Representations on all issues concerning NBFC/BFSI Sector to various authorities
– Invited by the Finance Minister for Pre-budget discussion for the last 8 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
– Invited to present at the leading National and International
– Invited to be Spokesperson and Panel Discussion on various aspects
by Print & Electronic Media
– We are active members at the leading Apex bodies like ASSOCHAM, FICCI, CII, PHDCCI and IMC Chamber of Commerce & Industry
– 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
– National Summits on NBFCs jointly with ASSOCHAM
– World Bank Group has collaborated with FIDC to conduct Training Programmes for NBFCs on “Commercial Credit Reporting” and “Asset-based Lending”
-FIDC organises and partners with various Institutions like World Bank Group (IFC),ASSOCHAM, IMC Chamber of commerce & Industry, B2B Infomedia, Ibex, Elets, IFI, Banking Frontiers, ET Edge, Synnex, BQ Global, Finnoviti, FINX etc. for their Seminars, Training Workshops and Award Functions in BFSI Sector all over India.
Recently, we have taken some new initiatives in the form of changing gears from playing a “reactive” role to a “proactive” role. We hold regular 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.
The Board of Directors and Governing Council of FIDC give representation to small / medium and large NBFCs. The Board of Directors/Governing Council Committee meetings are held at least, once in every quarter in major cities of Delhi, Mumbai, Chennai and other cities on rotation basis. We ensure detailed interaction with the Affiliated Associations/Regional Associations/Leading local players during these Meetings.
FIDC GOVERNING COUNCIL MEMBERS
In addition, FIDC nominates independent experts in the financial world as its Advisory Council Members.
Apart from being headquartered at Mumbai, FIDC has affiliated associations all over India which cater to the local issues of NBFC sector. They are:
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.|
In addition to this website, FIDC has created an exclusive Twitter/Facebook handles for FIDC, tweeting and posting regularly on the latest developments and these are being shared as FIDC’s reactions to reach up to the policy makers.
FIDC has also created a dedicated LinkedIn page where we upload interesting and relevant articles and write-ups. LinkedIn is visited by lot of millennials looking for the job opportunities and FIDC LinkedIn pages helps in finding right talent for member NBFC’s
Below are the links:
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),