It’s the sort of downsizing that is bound to raise alarms, and has. In August 2011, a working group on issues involving regulating non-bank finance companies (NBFC) headed by former RBI Deputy Governor Usha Thorat recommended that the RBI should regulate only those NBFCs with an asset book of Rs 25 crore and above. The panel also wanted stricter provisioning and capital adequacy norms, some of which the RBI has put in place.............
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