India’s march towards becoming the world’s third-largest economy is buoyed by the robust expansion of its micro, small, and medium enterprises (MSMEs), totaling approximately 63.4 million units. However, a significant challenge persists in the form of limited access to formal credit, with domestic credit to the private sector at 55% of GDP, below the global average.
Non-banking financial companies (NBFCs) have emerged as pivotal players in enhancing financial inclusion by extending credit and financial services to underserved segments. Small finance banks play a crucial role in this narrative, focusing on MSMEs and marginalised groups, thus fostering inclusive growth and propelling India toward its economic potential. Through tailored products and services, differentiated banks contribute to bridging the gap in access to formal financial services.
With this background, the Bombay Chamber of Commerce & Industry is hosting this Conclave to delve into the challenges and opportunities unique to differentiated banks in India. The event seeks to explore their relevance in the Indian context and chart a path forward for their sustainable growth and impact in today’s dynamic economic environment.
Date- March 27, 2024
Time – 10.30 AM
Venue- Conference Hall, Bombay Chamber, Mumbai
