15 February 2017 Current Affairs: International Finance Corporation (IFC), part of the World Bank Group, has teamed up with Finance Industry Development Council (FIDC) to conduct training programmes for Non Banking Finance Companies (NBFCs).
The training programmes will be on 'movable asset financing' and 'commercial credit reporting'. For this purpose, two engagement letters have been signed between IFC and FIDC, a representative body for NBFCs, especially those engaged in asset financing.
Jun Zhang, IFC India Country Head and Raman Aggarwal, Chairman of FIDC were the signatories to the engagement letters at an event held at IFC's office in the capital.
These training programmes would be conducted at various centres across the country under the guidance of leading consultants from the World Bank Group.
Such programmes are expected to enhance the awareness, expertise and professionalism of NBFCs, especially the large number of small and medium sized NBFCs catering to the credit needs in rural and semi-urban areas.