Some upper layer NBFCs can be a good substitute for banks: Sanjiv Bajaj

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Some upper layer NBFCs can be a good substitute for banks: Sanjiv Bajaj - Business Standard

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Bajaj Finserv and Allianz decided to part ways after 24 years of joint venture in the insurance sector.

Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, spoke with Manojit Saha and Subrata Panda about the Munich-based insurer’s decision to exit the joint ventures, the future of the two insurance companies as well as Bajaj Finance, and how the Reserve Bank of India (RBI) could allow certain upper-layer non-banking financial companies (NBFCs) to serve as substitutes for banks without granting them a banking licence.