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Sudipto Roy, MD and CEO of L&T Finance, asserts that working in banks and non-banking financial companies (NBFCs) is similar due to stringent regulatory scrutiny from the Reserve Bank of India. He emphasizes that upper-layer NBFCs operate like banks, highlighting the indistinguishable nature of their operations. Roy, who transitioned from a banking background, took charge of L&T Finance as it aimed to focus entirely on retail NBFC services.
L&T Finance has entered into a strategic partnership with Amazon to create innovative credit solutions. This collaboration was unveiled at the RAISE 2024 event in Mumbai, which focuses on advancements in Artificial Intelligence within the Banking, Financial Services, and Insurance sectors.
L&T Finance is adopting a cautious approach towards its rural business due to ongoing challenges in the microcredit sector, as stated by CEO Sudipta Roy. In the second quarter, rural finance disbursements fell by 5% year-on-year and 6% quarter-on-quarter, totaling Rs 5,435 crore, amid rising gross stage 3 loans.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
regulatory scrutiny blurs lines between banks and nbfc operations says l&t finance ceo
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11:53 27.11.2024
L&T Finance and Amazon partner to create innovative credit solutions
13:57 26.11.2024
L&T Finance adopts cautious approach to rural business amid microcredit challenges
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