Reserve Bank says 15 large NBFCs to comply with enhanced regulatory requirements

    Nidhi Khurana
    September14/ 2023
    Last Updated:

    Mumbai: On Thursday, the Reserve Bank of India announced that fifteen significant nonbank financial companies (NBFCs), including LIC Housing Finance, Bajaj Finance, Shriram Finance, and Tata Sons, will be subject to stricter regulations.

    Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL), and Top Layer (NBFC-TL) are the four tiers into which the central bank has placed NBFCs.

    Fifteen big NBFCs from the "Upper Layer" group have been publicly identified.—Inputs from Agencies