She also outlined a proposal for NBFCs with clear targets for credit disbursement and technology adoption, and suggested the restructuring of public sector NBFCs such as Power Finance Corporation and Rural Electrification Corporation to improve scale and efficiency.
Ghosh said the proposed committee may play a key role in shaping the future regulatory and policy framework for banks, particularly those engaged in micro-credit and inclusion-led lending.
“If we want to reach the goal of Viksit Bharat, the micro-credit industry will have to contribute more, particularly in helping people at the bottom of the pyramid become self-reliant,” he told PTI.
Ghosh said the recommendations of the proposed banking committee would have a positive spillover for lenders operating in the microfinance space.
“Hope that when this review is finalised, it can help microfinance institutions and those lending to this segment. Even banks will get more benefit from it,” he added.On the NBFC sector, Ghosh referred to the Budget’s articulation of a clear vision for NBFCs for Viksit Bharat with defined targets for credit disbursement and technology adoption, saying it provides long-term direction for the segment.
Ghosh said policy clarity and stability remain important for both banks and NBFCs to ensure uninterrupted credit flow to borrowers.
“The system and processes should be simplified in a way that reduces risk for borrowers. They should not feel harassed, and funding support should not stop abruptly,” he said.
Industry experts said the proposed measures could lead to structural improvements across the financial sector, strengthening the role of banks and NBFCs in supporting inclusive and sustainable economic growth.
