Stakeholders meeting on NBFC was organised by CEPR on January 10, 2019 at The Claridges, New Delhi to discuss the benefits, issues relating to capital, bad debts, NPAs and how to make these issues favourable. The event witnessed the presence of dignitaries like Ajit Pai (OSD of NITI Aayog), Dr. Ashwani Mahajan (National Co-Convener of SJM), Sh. Rattan Lal Katari (BJP,MP); Sh. Rajan Dogra(Director, Vijaya Bank); Sh. Sunil Kanoria (Vice Chairman of Srei Infrastructure Finance Limited).
Deliberations also took place regarding the data authenticity and transparency which is not available with governments and think tanks along with accountability and balance sheet governance structure.
The discussion emphasize on the issue of lending money by the banks to the NBFCs with high ratings only which can be fix by developing accurate credit rating model. Rating agencies should check RBI inspection files, the income tax assessment records, service tax /GST data records, minutes of board meetings and should held accountable on the part of their fault.