Large NBFCs face tough reserve rules Bigger shadow banks may be asked to hold a chunk of their deposits in cash, gold or government securities The Reserve Bank of India (RBI) is expected to release a discussion paper on NBFCs (nonbanking finance companies) this week that will suggest large shadow banks should hold a share of their deposits or funds in cash, gold and government securities, mimicking asset sequestration regulations that apply to scheduled commercial banks. Fears of such tighter regulations on the sector had its impact on the stock markets with the Sensex slumping over 470 points and the Nifty ending below the 14300 mark.