Mumbai, April 9 (NationPress) The Reserve Bank of India (RBI) is maintaining its commitment to fostering economic growth, and its forthcoming regulatory framework for non-banking financial companies (NBFCs) is anticipated to enhance the sector's resilience and transparency, according to Rajesh Sharma, Managing Director of Capri Global Capital Limited, during a discussion with IANS on Thursday.

Sharma remarked that the RBI's historical regulatory measures have consistently introduced transparency and stability, and the upcoming reforms for NBFCs are in line with this trend.

“These initiatives by the central bank are instrumental in elevating compliance standards while facilitating overall growth in the sector,” he added.

He noted that the RBI has persistently prioritized economic expansion, and the new framework is expected to bolster growth momentum while providing enhanced regulatory oversight.

In light of the RBI's Monetary Policy Committee (MPC) decision earlier this week, Governor Sanjay Malhotra indicated that a revised classification system for NBFCs is forthcoming, with an announcement expected shortly.

The proposed classification will categorize NBFCs into upper, middle, and other categories, thereby improving regulatory clarity and supervision.

On the subject of the RBI's recent directives on gold loans, Sharma stated that the guidelines are designed to foster more responsible lending practices.

“These directives entail stricter income assessments, a heightened emphasis on priority sector lending, and loan approvals linked to repayment capacities,” Sharma elaborated.

He emphasized that the overarching goal is to enhance credit accessibility at lower interest rates for average borrowers, thereby diminishing their dependence on informal moneylenders who impose exorbitant rates.

Regarding the micro, small, and medium enterprises (MSME) sector, Sharma underscored its vital contribution to the economy, highlighting that SMEs account for nearly 37% of India's exports and represent one of the largest employment generators.

He asserted that providing loans to small businesses directly fuels economic growth and remains a focal point for both policymakers and financial institutions.

Sharma noted that SMEs currently make up about 20% of Capri Global Capital's assets under management (AUM).

He expressed optimism that this segment will continue to be a growth driver, as the company anticipates maintaining a 16–18% growth trajectory in the upcoming years, primarily supported by its SME portfolio.