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Working in a bank and NBFC is no different, thanks to regulatory scrutiny: Sudipto Roy, MD & CEO, L&T Finance

The article from Moneycontrol discusses insights from Sudipto Roy, the MD and CEO of L&T Finance, on the convergence of regulatory environments between banks and Non-Banking Financial Companies (NBFCs) in India. Roy highlights that due to increased regulatory scrutiny, the operational differences between banks and NBFCs are diminishing. He notes that both types of financial institutions now face similar compliance requirements, which has led to a more level playing field. This regulatory alignment has compelled NBFCs to adopt practices akin to those of banks, focusing on risk management, governance, and customer protection. Roy also touches upon the challenges and opportunities this presents for NBFCs, suggesting that while it increases operational costs, it also enhances credibility and trust among customers and investors. He emphasizes the importance of adapting to these changes to ensure sustainable growth and stability in the financial sector.

Read the Full moneycontrol.com Article at [ https://www.moneycontrol.com/news/business/working-in-a-bank-and-nbfc-is-no-different-thanks-to-regulatory-scrutiny-sudipto-roy-md-ceo-lt-finance-12877771.html ]