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SMFG India Credit Wins Golden Peacock Award for Corporate Social Responsibility 2024 SMFG India Credit has been honored with the prestigious Golden Peacock Award for Corporate Social Responsibility (CSR) 2024 . This award recognizes organizations that have successfully integrated social and environmental concerns into their business strategy while achieving economic goals. The award was received by Swaminathan Subramanian, Chief Operating Officer , along with the CSR team at SMFG India Credit , for their outstanding contributions to community development . SMFG India Credit’s Commitment to CSR Over the past three years, SMFG India Credit has rolled out several impactful CSR initiatives aimed at empowering communities and promoting sustainability . These include: 🌱 Financial Literacy Programs – Educating underserved communities on financial planning and credit access . 📚 Skill Development Training – Equipping youth with vocational skills for employment. 🏥 Primary Health...

NBFC Sector Seeks Funds and Reforms Ahead of  Union Budget 2024 As the Union Budget for 2024 approaches, the Non-Banking Financial Company (NBFC) sector is calling for enhanced financial inclusion and digitalization efforts to sustain its growth. The sector, represented by the Finance Industry Development Council (FIDC), is advocating for the establishment of a special refinancing body, akin to the National Housing Bank (NHB) for housing finance companies. Importance of NBFCs in the Economy NBFCs play a crucial role in the Indian economy by providing financial services to underserved segments that traditional banks may not fully reach. They offer a range of financial products, including loans, asset financing, and wealth management services. This sector is vital for promoting financial inclusion, supporting consumer demand, and improving trade balances. Current State of NBFCs Despite facing stringent regulatory actions from the Reserve Bank of India (RBI) this year, the NBFC sector...