Indian Business News

India’s banking sector has changed significantly with the growth of Non-Banking Financial Companies (NBFCs). These companies have transformed the way people and businesses access credit across the country. Unlike traditional banks, NBFCs focus on providing flexible and customized financial solutions. They help groups that are often ignored by banks, such as small businesses, rural entrepreneurs, and individuals without a formal credit history. VP Nandakumar , Managing Director of Manappuram Finance, explains how NBFCs are creating new opportunities by making credit more accessible and inclusive. Their role has been crucial in supporting economic growth at the grassroots level. The NBFC sector in India has grown rapidly and has become an important part of the financial system. As of December 2024, NBFCs had provided loans worth around ₹52 trillion. This figure is expected to cross ₹60 trillion by the financial year 2026. Read More

V.P. Nandakumar was born into a family involved in traditional money lending. He completed his postgraduate degree in Science and also earned qualifications in Banking and Foreign Trade. He started his career at Nedungadi Bank, but in 1986, after his father V.C. Padmanabhan passed away, he took over the family’s small financial business. With his vision and leadership, he transformed it into Manappuram Finance Ltd. Under VP Nandakumar guidance, the company grew from a single branch to a nationwide NBFC (Non-Banking Financial Company) with over 5,000 branches across India. Today, Manappuram Finance manages assets worth more than ₹42,000 crore and employs over 47,000 people. The company has also expanded its services beyond gold loans, offering microfinance, home loans, vehicle finance, SME lending, and personal loans, which now make up a big part of its business. Read More

VP Nandakumar, Managing Director and CEO of Manappuram Finance, has received the prestigious 2025 EdelGive Hurun India – Exemplary Leadership in Corporate Social Responsibility Award at the India Philanthropy Summit and Awards in Mumbai. Nandakumar, who hails from Valapad in Thrissur, was honoured for his remarkable contributions to corporate social responsibility through the Manappuram Foundation. The award was presented by Naghma Mulla, CEO of EdelGive Foundation, and Anas Rahman Junaid, Founder of Hurun India. Read More

  The rise of digital banking and financial technology has created a great opportunity for gold lenders to reach new customers and simplify their operations," says VP Nandakumar , CEO and Managing Director of Manappuram Finance. "By adopting these technologies, companies can provide more personalized and efficient services, strengthening their role in India's organized lending market." In India, gold has always been valued not just as a symbol of wealth, but also as an important financial asset. Traditionally, Indian households have used gold as a way to store value and as a safety net during tough financial times. It has also been a popular tool for informal borrowing, where people would pledge their gold to get quick loans from local moneylenders. However, the gold financing industry has changed significantly over the years, especially with the introduction of new financial products and more organized lending options. In this evolving landscape, Manappuram Finance,...