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.”
