FIDC has been engaged in regular interaction both with the Reserve Bank of India and the Government of India, which includes pre-budget meetings and important policy-related meetings with the RBI.
Finance Industry Development Council (FIDC) is a representative body of NBFCs registered with the Reserve Bank of India. FIDC was formed 19 years ago and is the recognized face of the NBFC sector. FIDC has been engaged in regular interaction both with the Reserve Bank of India and the Government of India, which includes pre-budget meetings and important policy-related meetings with the RBI. Almost all the leading NBFCs and a large number of small and medium-sized NBFCs are members.
FIDC and its Board of Directors are glad to inform you that Mr. Shachindra Nath has joined the Board of FIDC.
Mr. Nath took on the role of an entrepreneur by acquiring control of a listed NBFC called Chokhani Securities Limited in 2018 and is now the Vice Chairman and Managing Director of U GRO Capital, a tech-enabled small business lending platform. Over the last 5 years, he has successfully built UGRO as a leading DataTech driven small business lending NBFC with approximately Rs. 7500 crore of lending book. Prior to embarking on his entrepreneurial journey at U GRO Capital, Mr. Nath was influential in setting up insurance companies, global asset management businesses, capital markets, and lending institutions. Throughout his illustrious career, he has been instrumental in building two insurance companies: a large asset management company and an NBFC. Some of his biggest achievements include establishing new business verticals and forging successful joint ventures and partnerships for the group. He is a qualified lawyer and a university rank holder from Banaras Hindu University (India).
Mr. Nath commented on his appointment to the Board of FIDC “NBFCs are playing a critical role in nation-building and are key to providing credit to underserved and unserved customers. FIDC, an apex body fully committed to the disciplined growth of NBFCs and their upskilling, is focused and concentrated on representing the NBFC sector and has been at the forefront of collaborating with regulators, guiding its members on self-governance, and being the bridge of voice between regulators and industry on both sides. The lines between NBFC, Fintech, and digital lenders are getting blurred with every passing day. It would be my endeavor to represent the voice of medium-sized NBFC and also support the FIDC Board’s aspiration to be more broad-based and inclusive. I thank my fellow directors for giving me the opportunity to serve the industry through their platform.”
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