New Delhi, March 12 Financial Services Secretary M Nagaraju chaired a meeting with major non-banking financial companies (NBFCs) on Thursday, the finance ministry said.
"The engagement with NBFCs was aimed at fostering an open exchange of ideas on specific issues. Detailed discussions with representatives from the RBI, DoR, and UIDAI on issues related to their operations were held," the statement said.
The emphasis was on reaching a solution to the issues faced by NBFCs through stakeholder consultation, it added.
During the meeting, NBFCs shared their concerns and proposed solutions.
Nagaraju emphasized that NBFCs need to be more robust, vibrant, and financially sound, catering to the needs of underserved and new-to-credit customers, the ministry said.
He further advised holding a workshop with UIDAI and NPCI to educate NBFCs on the effective use of KYC.
