Whalesbook
The Finance Industry Development Council (FIDC), an industry body for Non-Banking Financial Companies (NBFCs) in India, has submitted critical recommendations for the Union Budget 2026 to the Finance Ministry. Key proposals include establishing a dedicated refinance window for easier and cheaper funding, reducing the SARFAESI Act recovery threshold to ₹1 lakh, removing Tax Deducted at Source (TDS) on interest income, and extending Section 80E tax deductions for education loans provided by NBFCs. These measures aim to bolster the sector's growth and operational efficiency.