Blog

“In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years from its classification in the layer, even in case it does not meet the criteria in the subsequent year/s. Accordingly, the following NBFCs which were identified as NBFCUL in previous exercises but do not meet the criteria in the current exercise, would continue in NBFC-UL and be subject to enhanced regulatory requirements of NBFCUL,” added RBI, according to a Reuters report.