New Delhi, July 10 -- Union Finance Minister Nirmala Sitharaman has underscored the need for Non-Banking Financial Companies (NBFCs) to integrate Governance, Risk Management, and Customer Protection as part of their core beliefs and ethics.

Addressing the NBFC Symposium 2025 in New Delhi, the Finance Minister said, as the NBFC model matures, the focus on risk management should increase. Ms Sitharaman highlighted that the fundamentals of the NBFC sector are underpinned by strong capital buffers, robust interest margins and earnings, and low levels of impairment. She noted that asset quality has shown steady recovery since the pandemic, with NBFC sector's gross non-performing assets steadily declined from 6.4 per cent in March 2021 to reac...