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Finance Industry Development Council (FIDC) is a Representative Body of NBFCs registered with the Reserve Bank of India. FIDC was formed 19 years ago and is the recognized face of the NBFC sector. FIDC has been engaged in regular interaction both with Reserve Bank of India and Govt. of India, which include pre-budget meetings and also important policy related meetings with RBI. Almost all the leading NBFCs and a large number of small and medium sized NBFCs are members.

FIDC and its Board of Directors are glad to inform you that Mr. Shachindra Nath has joined the Board of FIDC.

Mr. Nath took on the role of an entrepreneur by acquiring control of a listed NBFC called Chokhani Securities Limited in 2018 and is now the Vice Chairman & Managing Director of U GRO Capital, a tech enabled small business lending platform. Over last 5 years he has successfully built UGRO as a leading DataTech driven small business lending NBFC with approximately Rs. 7500 Crores of lending book. Prior to embarking on his entrepreneurial journey at U GRO Capital, Mr. Nath has been influential in setting up Insurance Companies, Global Asset Management Businesses, Capital Market and Lending Institutions. Throughout his illustrious career, he has been instrumental in building two insurance companies, a large asset management company and an NBFC. Some of his biggest achievements include establishing new business verticals alongside foraying successful joint ventures and partnerships for the group. He is a qualified lawyer and a University Rank Holder from the Banaras Hindu University (India).

Mr. Nath commented on his appointment on the Board of FIDC “NBFCs are playing a critical role in the nation building and are key to providing credit to the underserved and

unserved customers. FIDC, an apex body fully committed to the disciplined growth of NBFCs and its upskilling, FIDC is focused and concentrated in representing NBFC sector andhas been at forefront in collaborating with regulators, guiding its members on self-governance and being the bridge of voice between regulators and industry on both sides. The lines between NBFC, Fintech and Digital Lenders are getting blurred with every passing day – it would be my endeavor to represent the voice of medium size NBFC and also support FIDC Board’s aspiration to be more broad-base and inclusive. I thank my fellow-Directors for giving me the opportunity to serve the industry through its platform.”

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