Mumbai, Sept. 3 -- Non-banking financial companies (NBFCs) can lead the charge on financial inclusion and last-mile credit access by using India's digital public infrastructure to reach underserved borrowers, Reserve Bank of India Deputy Governor Shirish Chandra Murmu said on Thursday.

Addressing the 7th CII NBFC and HFC Summit, Murmu said NBFCs and housing finance companies (HFCs) have moved beyond their role as alternative lenders and have become specialised financial institutions that complement banks by serving remote areas, underserved segments and niche markets.

"The role of NBFCs is changing again, from alternative lenders to specialized financial partners. Their diversity is their biggest strength. In this new phase of growth, N...