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MSME lender U Gro Capital’s Sachindra Nath pitches for new NBFC category

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Sachindra Nath, the managing director of U Gro Capital, suggests the creation of a new category of non-banking financial companies (NBFCs) to serve micro, small, and medium enterprises (MSMEs). He believes that NBFC-MSME should be established, similar to NBFC-MFI and HFC. This move would address the recent increase in risk weight on consumer loans by the Reserve Bank of India, affecting NBFCs by raising their borrowing costs. U Gro Capital has partnered with Laghu Udyog Bharati to launch awareness programs and empower MSMEs with knowledge about government schemes and digital credit. They aim to capture a larger market share in MSME credit and expand their loan book.

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