FM Sitharaman To NBFCs: Don’t Exploit In Name Of Financial Inclusion

At the NBFC Conclave in New Delhi on July 9, Finance Minister Nirmala Sitharaman delivered a sharp message: financial inclusion cannot become a license for financial exploitation. She cautioned NBFCs against aggressive loan marketing, predatory interest rates, and harsh recovery tactics. Sitharaman also questioned why priority sector funds remain underutilised and urged fair lending practices. As India pushes deeper into inclusive growth, the FM’s remarks spotlight the need for ethical and responsible finance.