The panellists of the session were:

1.      Dr.Ravi Gupta , CEO & Editor in Chief of Elets Technomedia.

2.      Mr. Umesh Revankar , MD & CEO of Shriram Transport Finance.

3.      Mr. Pavan K. Gupta ,  CEO of Muthoot Housing Finance.

4.       Dr. Puneet Kaur Kohli , CTO of Manappuram Finance ltd.

5.      Mr. Rahul ,CEO of Avanti Finance.

6.      Mr. Bhavin Patel , Co-founder& CEO of Lendenclub.

The issue was - the challenges for the NBFCs for the next 6 month as we know that due to COVID-19 the world is going through the major shutdown. The major challenges were regulatory consideration, stoppage of supply chain, livelihood is also affected, informal workplace, Delay in repayments due to less cash flow in the economy, problem of delinquency, migration of labours, decrease in demand of finance is the major challenge for this sector and more liquidity as people can consume cash for future uncertainty.

The second issue was with respect to the customers that how they interact with the customers in this lockdown situation. As we know that the many of the people in rural areas don’t have smart phones and mail id’s so how the NBFCs interact with them is the main issue for this sector. Customer of NBFCs can delay their repayments as due to less cash flow in the economy. The entire system of NBFCs is working in a close relationship with the customer so now first they have to migrate their customer to the digital platform and then start working digitally is the biggest challenge because people are migrating towards the rural areas and in rural areas they don’t have the proper facilities.