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Discussion Paper on Revised Regulatory Framework for NBFCs: A
Scale Based Approach
The Non-Banking Finance Company space has attracted the Reserve
Bank of India s (RBI) gaze, again, of late with the regulator
releasing a statement and a discussion paper at different times in
the space of the last 60 days.
On December 4 2020, the RBI in a statement
1 on
developmental and regulatory policies, set out the need for
regulation and supervision over NBFC (Non-Banking Financial
Companies).
A Discussion Paper
2 on the same was published on
January 22, 2021 inviting responses and suggestions by February 22,
2021.
NBFCs are regulated in India on the principle of
proportionality: calibrated regulatory measures that are
Regulating NBFCs: RBI proposes bank-like norms for the top 30
January 22, 2021
Suggests four-layer pyramid structure, with progressive levels of regulation
The Reserve Bank of India (RBI) plans to usher in a four-layered regulatory and supervisory framework for non-banking finance NBFCs as it embarks on the path of a scale-based regulation in the backdrop of the recent stress in the sector.
In its discussion paper on “Revised Regulatory Framework for NBFCs a Scale-Based Approach”, RBI said its proposed framework could be visualised as a pyramid, comprising NBFCs grouped in four layers Base Layer (BL), Middle Layer (ML), Upper Layer (UL) and a possible Top Layer (TL).