RBI issues circular on risk-based internal audit for UCBs, NBFCs The circular is applicable to NBFCs with asset size of Rs 5,000 crore and all Primary Urban Cooperative Banks (UCBs) with asset size of Rs 500 crore and above February 03, 2021 / 10:42 AM IST The Reserve Bank of India (RBI) on February 3 issued a circular on risk-based internal audit for Non-banking finance companies (NBFCs) and Urban Cooperative Banks (UCBs) on risk-based internal audit. The circular is applicable to NBFCs with asset size of Rs 5,000 crore and above and all Primary Urban Cooperative Banks (UCBs) with asset size of Rs 500 crore and above, RBI said.