Expand credit access for sustainable growth: FIAFA

CHENNAI: There is an urgent need to drive sustainable growth and expand financial services to reach every individual and small business requiring capital for business expansion, stakeholders noted at the 29th national convention of the Federation of Indian Asset Financiers Association (FIAFA) held in Chennai recently.

A key highlight of the event was the official release of the golden jubilee souvenir and stamp, commemorating 50 years of FIAFA. The release was led by the chief guest, Umesh Revankar, executive VC, Shriram Finance, alongside guests of honour Rajiv Lochan, MD-CEO, Sundaram Finance, and Kamlesh Gandhi, chairman-MD, MAS Financial Services, all of whom delivered keynote addresses.

Key FIAFA officials in attendance included Dinesh Kothari (president), Devang Chordia (secretary general), TR Achha (chairman, golden jubilee celebrations), and Ajay Nahar (chairman, 29th national convention), each of whom addressed the gathering.

Over 2,000 representatives from various small and medium finance companies, as well as finance associations across the country, participated in the convention.

The central theme focused on the roles and responsibilities of lenders in nation-building, with an emphasis on strengthening Non-Banking Financial Companies (NBFCs), unincorporated bodies, partnership firms, and individual lenders.

Attendees echoed the collective belief that achieving the vision of Viksit Bharat (Developed India) by 2047 requires expanding credit accessibility to individual entrepreneurs and small business owners.

India’s extensive network of small financiers—operating within national regulatory frameworks—plays a critical role in bridging the gap left by traditional banks and large NBFCs, which often operate under stringent financing norms.