New Delhi, February 01, 2020: “The proposal to allow deposit insurance and credit guarantee corporation to increase deposit insurance coverage to Rs. 5 lakh per depositor compared to the present Rs. 1 lakh is extremely significant, as it will increase trust in banking. The reduction in the NBFC Eligibility for SARFAESI Act to Rs 100 crore from Rs 500 crore AUM will boost the confidence among small NBFCs and reduce the cost of borrowing for MSMEs. The proposal to allow NBFCs to extend invoice financing to MSMEs will boost productivity in the sector.”
Mr. Shachindra Nath, steers the ship here at U GRO after an illustrious multi decade professional career. Mr. Nath’s roots are from the ancient city of Varanasi and he spent his early life in its hinterland. He started out as a commercial trainee, spent many years in rural India managing carpet industry before moving to financial services around two decades back. He has been instrumental in building diversified financial services business spanning ranging from Insurance, Asset Management, Lending, Capital Market from scratch. Built global partnership, joint ventures across various geographies in the world before turning into an entrepreneur. Shachindra is a qualified lawyer and a University Rank holder from the Banaras Hindu University (BHU), India
Corporate Comm India (CCI Newswire)