The Reserve Bank of India (RBI) on January 16, 2025, released the list of NBFCs in the Upper Layer (NBFC-UL) under Scale Based Regulation for NBFCs for the year 2024-25.
The RBI issued the Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs (the framework) on October 22, 2021. The framework categorises NBFCs in Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL) and gives the methodology to identify the NBFCs in the Upper Layer as per their asset size and scoring methodology.
In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirements, at least for a period of five years from its classification in the layer, even in case it does not meet the parametric criteria in the subsequent year/s.
Accordingly, the 2024-25 list of NBFC-UL has been provided in the document below.
[Press Release: 2024-2025/1939]
