RBI proposal may put 70% NBFCs out of business; over 9,000 companies may lose licences

.....More than two-thirds of non-banking finance companies (NBFCs) face closure if the Usha Thorat panel recommendation on minimum asset size is implemented by the Reserve Bank of India, shutting a vital source of funding in many parts of the country. Nearly 9,000 companies lending to borrowers in small towns and villages that lack banking facilities could be in danger of losing their licences as their asset size is less than Rs 25 crore.......

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