Umesh Revankar named FIDC Chairman

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Umesh Revankar, the current Executive Vice-Chairman of Shriram Finance Limited, has been appointed as the new Chairman of the Finance Industry Development Council (FIDC), the leading Indian NBFC financing body.

An Overview of the News

• FIDC is the representative body of Non-Banking Financial Companies (NBFCs) engaged in asset and debt financing in India.

• The appointment was made by a unanimous decision of the Managing Committee during its meeting held in Mumbai.

• Umesh Revankar's two-year term as FIDC Chairman begins on August 23, 2023.

• In addition to his position at Shriram Finance, Revankar also holds directorship roles in several other companies within the Shriram Group including Shriram Automall India Limited, Shriram General Insurance Company Limited, and Shriram Life Insurance Company Limited.

About Finance Industry Development Council (FIDC)

• Role: Self-regulatory organization (SRO) and representative body for Non-Banking Finance Companies (NBFCs) in India.

• Establishment: 2004

• Accreditation: Registered with the Reserve Bank of India.

• Focus: Advocating NBFCs involved in asset and debt financing.

• Interaction: Regular interaction with RBI and the Government of India, including pre-budget meetings and policy discussions.

• Headquarters: Mumbai

• Director General: Mahesh Thakkar

• Presence: Regional Chapters and Affiliated Associations across India.