Mumbai, April 9 – The Reserve Bank of India’s continued focus on boosting economic growth, along with its proposed regulatory changes for non-banking financial companies (NBFCs), is expected to bring greater strength and clarity to the sector, Rajesh Sharma, Managing Director of Capri Global Capital Limited, said on Thursday.
In an interaction with IANS, Sharma said that the RBI's regulatory frameworks have historically brought transparency and stability, and the proposed changes for NBFCs are no exception.
“Such initiatives by the central bank help improve compliance standards while supporting overall sectoral growth,” he said.
“The Reserve Bank of India has consistently prioritized economic expansion, and the upcoming framework is likely to further strengthen growth momentum while ensuring better regulatory oversight,” he stated.
Following the RBI’s Monetary Policy Committee (MPC) decision earlier this week, Governor Sanjay Malhotra had indicated that the central bank is working on a revised classification system for NBFCs, with an announcement expected soon.
Under the proposed structure, NBFCs will be categorized into upper, middle and other layers to enhance regulatory clarity and supervision.
Commenting on the RBI’s recent directions on gold loans, Sharma said the guidelines aim to ensure more responsible lending practices.
“These include stricter income assessment, increased focus on priority sector lending, and repayment-linked loan approvals,” Sharma explained.
He added that the broader objective is to make credit more accessible at lower interest rates for common borrowers, reducing their reliance on informal moneylenders charging high rates.
On the micro, small and medium enterprises (MSME) sector, Sharma highlighted its critical role in the economy, noting that SMEs contribute nearly 37 per cent to India’s exports and are among the largest generators of employment.
He said that lending to small businesses directly contributes to economic growth and remains a key focus area for both policymakers and financial institutions.
Sharma further said that SMEs currently account for around 20 per cent of Capri Global Capital’s assets under management (AUM).
He expressed confidence that the segment will continue to drive growth, adding that the company expects to sustain its 16–18 per cent growth trajectory in the coming years, supported largely by the SME portfolio.
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