CONNECT WITH US
Fintech

Fintech

NBFCs can unlock Maharashtra’s next phase of growth through risk innovation and MSME financing: Aman Mittal

ET BFSI Fintech logo

Published on

Add as a preferred source on Google
NBFCs can unlock Maharashtra’s next phase of growth through risk innovation and MSME financing: Aman Mittal

NBFCs can unlock Maharashtra’s next phase of growth through risk innovation and MSME financing: Aman Mittal

Maharashtra is exploring data-driven lending, parametric insurance and innovative risk-sharing instruments to expand credit access for MSMEs and support its $1 trillion economy ambition. Aman Mittal, Joint CEO, Maharashtra Institution for Transformation (MITRA), said NBFCs could play a bigger role in financing emerging risks, climate resilience and industrial transition.

Non-banking financial companies ( NBFCs ) can play a bigger role in Maharashtra’s economic transformation by developing specialised credit products, financing emerging risks and expanding access to capital for micro, small and medium enterprises (MSMEs), according to Aman Mittal, Joint CEO, Maharashtra Institution for Transformation (MITRA), Government of Maharashtra. Delivering the keynote address at the ETBFSI NBFC Leaders’ Retreat 2026, Mittal said the state’s ambition to become a $1 trillion economy would require greater mobilisation of private capital and new approaches to understanding and managing financial risks. Advt

5 trillion over a three-to-four-year period. Public resources were expected to contribute only 2–3% of the requirement, making private investment critical to the state’s growth ambitions, he said. “Who are the experts in underwriting unknown risks? I think this is where the NBFCs play the best role,” Mittal said, highlighting the sector’s ability to develop specialised financial products for emerging business needs. High-quality data key to expanding MSME credit Maharashtra has approximately 64–65 lakh MSMEs registered on the Udyam portal, but only around two to three lakh are insured against risks such as fire, Mittal said. Insurance coverage remains concentrated among businesses already accessing formal credit, highlighting the limited penetration of risk protection among smaller enterprises.


Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.