NBFCs are an important component of the service sector which was a significant contributor to the growth of the economy. It is important for the NBFCs to efficiently intermediate and enhance credit delivery to the dispersed, under-banked and under-serviced sections of the economy. However, it is also the Reserve Bank’s responsibility to protect the depositors’ interest.
While ensuring that the public deposit-taking companies and systemically important non-deposit taking companies are well regulated, the Reserve Bank is looking to further strengthening of the NBFC sector so as to help the sector grow in terms of its asset base.