The vice chairman and managing director of UGRO Capital Ltd has joined the board of Finance Industry Development Council (FIDC), a release by the body said on Thursday.
FIDC is a Representative Body of NBFCs registered with the Reserve Bank of India. It was formed 19 years ago and engages in regular interaction with the RBI and the government.
UGRO Capital which is a tech enabled small business lending platform. From the last 5 years he has built UGRO as a leading DataTech driven small business lending Non-Banking Financial Company (NBFC) with approximately Rs. 7500 Crores of lending book.
A qualified lawyer and a University Rank Holder from the Banaras Hindu University, Nath has been prominent in setting up insurance companies, global asset management businesses, capital market and lending institutions, before his entrepreneurial journey at U GRO Capital.
Speaking about the roles of NBFCs in nation building and joining the board of FIDC, Nath said, “NBFCs are playing a critical role in the nation building and are key to providing credit to the underserved and unserved customers. FIDC, an apex body fully committed to the disciplined growth of NBFCs and its upskilling,” adding that FIDC is “focused and concentrated in representing NBFC sector and has been at forefront in collaborating with regulators, guiding its members on self-governance and being the bridge of voice between regulators and industry on both sides”.
Finance Industry Development Council works as a link between the industry and the regulators. Almost all the leading NBFCs and a large number of small and medium sized NBFCs are members of NFDC. And Nath aims to serve the industry through NFDC.
Expressing his gratitude to the board of FIDC, Nath said, “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 size NBFC and also support FIDC Board’s aspiration to be more broad-base and inclusive. I thank my fellow-Directors for giving me the opportunity to serve the industry through its platform.”
