Finance Industry Development Council (FIDC), a representative body of Assets and Loan Financing NBFCs in India, has advised its members to use discretion in opening branches/departments and do so only if absolutely necessary. FIDC, which had represented to the central government on behalf of NBFCs to allow them to operate their branches with minimum staff and received approval to do so from the government, told its members that they should ensure total compliance of the National Directives for COVID-19 management as announced by the government and keep minimum number of branches open and only in locations cleared by the local authorities. It also told the members to encourage workers wherever possible to work from home or maintain shift system or other mechanisms by which there is no overcrowding in the offices.
