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Indian industry body calls on non-banking firms to adopt technical innovation.

Global Banking News-January 8, 2018--Indian industry body calls on non-banking firms to adopt technical innovation

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Global Banking News - 08 January 2018

Indian industry body, Assocham, has called on non-banking finance companies to adopt technical innovation to stay ahead of the competition.

Assocham said that Indian non-banking financial companies (NBFCs) are growing when conventional banks are grappling with bad loans. They therefore need to keep pace with new technologies to attract investment.

Assocham said in a release that NBFCs need to consider 'tweaking their current business models to grow in a hybrid world - digital plus physical. With banks tightening their purse strings owing to increasing bad loans, Indian NBFCs are growing their market share, however, they will have to keep pace with new technologies and changing customer aspirations to attract timely private equity (PE) investments.'

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Publication:Global Banking News (GBN)
Date:Jan 8, 2018
Words:163
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