RBI shakes things up: NBFCs over ₹1 trillion join upper layer

The RBI is shaking things up for non-banking financial companies (NBFCs) by saying, "If you have assets over ₹1 trillion, welcome to the upper layer!" This change, announced on a fine Friday, opens the door for state-backed NBFCs too. Everyone's invited to share their thoughts until May 4, 2026, so grab your pens and get ready to comment!

Quick rundown

RBI proposes size-based classification for NBFCs.
Upper layer NBFCs must have assets of Rs 1 trillion or more.
State-backed NBFCs may join the upper layer if they meet criteria.
Current upper-layer NBFCs include major players like Bajaj Finance and Tata Capital.
Proposed changes aim to simplify and harmonize NBFC classification.

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