Categories: Current AffairsSummits and Conferences

RBI Conference on Strengthening Large NBFCs Held in Chennai

The Reserve Bank of India (RBI) hosted a conference for large-sized Non-Banking Financial Companies (NBFCs) on March 28, 2025, in Chennai. The event was attended by Chairpersons of the Audit Committee of the Board (ACB), MD & CEOs, and Statutory Auditors of various NBFCs. Under the theme “Shared Vision, Shared Responsibility: Strengthening the NBFCs,” the conference aimed to reinforce regulatory supervision and address key industry concerns.

Key Highlights of the Conference

Participation & Attendees

Over 200 participants, including senior executives and auditors from the NBFC sector.
Addressed by RBI Deputy Governor Shri Swaminathan J and ICAI President Shri Charanjot Singh Nanda.
Executive Directors from RBI’s Regulatory, Supervisory, and Enforcement functions participated.

Key Discussions & Messages

NBFCs’ vital role in the financial ecosystem was emphasized.
Risk-taking should remain within the entity’s risk absorption capacity.
Adoption of fairness in lending and grievance redressal was stressed.
Auditors were urged to uphold audit rigor, objectivity, transparency, and ethics.

ICAI’s Perspective

ICAI President highlighted the need for Chartered Accountants to maintain trust and adapt to technological advancements in auditing.

Technical Sessions & Panel Discussions

Presentations on regulatory concerns and expectations from NBFCs.
Session on data analytics in auditing.
Panel discussion on emerging issues and challenges under Ind AS.

Interactive Session

Senior RBI officials engaged with participants, addressing their queries and concerns.

Summary/Static	Details
Why in the news?	RBI Conference on Strengthening Large NBFCs Held in Chennai
Theme	“Shared Vision, Shared Responsibility: Strengthening the NBFCs”
Key Attendees	RBI officials, NBFC MD & CEOs, Audit Committee Chairpersons, ICAI representatives
Key Topics Discussed	NBFC risk-taking, fairness in lending, role of auditors, technology adoption in auditing
Technical Sessions	Regulatory concerns, data analytics in auditing, Ind AS challenges