Heads of top small finance banks stress on the need to be more flexible in the current scenario and back ’emotional banking’
The heads of some of India’s top small finance banks on Wednesday said that things now were looking up for the sector after the lifting of coronavirus-induced lockdowns, and that they would get even better in the coming days.
Speaking at the third session of Business Standard’s six-part Unlock BFSI 2.0 webinar series, they also said the Reserve Bank’s (RBI’s) decision to allow a moratorium on loan repayments was a step in the right direction and people were not misusing it, but they agreed that there was no need to extend it beyond August as the economy was now getting back on its feet. Saying that banks needed to be more flexible in the current scenario, they also stressed on the need for “emotional banking”.
The discussion was moderated by Tamal Bandopadhyay, consulting editor, Business Standard.
The panelists in the session, titled ‘Small finance banks — It’s time to make it big’, were Ujjivan SFB Managing Director & Chief Executive Officer Nitin Chugh, Equitas SFB Promoter & Managing Director P N Vasudevan, Jana SFB Managing Director & Chief Executive Officer Ajay Kanwal, AU SFB Managing Director Sanjay Agarwal, Suryoday SFB Managing Director & Chief Executive Officer R Baskar Basu and Microfinance Institutions Network Chief Executive Officer & Director Alok Mishra.
Source: Business Standard
