The recent additions to this sector have been (i) Infrastructure Finance Companies (IFC), (ii) Infrastructure Debt Funds (IDF), (iii) Micro Finance Institutions (NBFC- MFI) and (iv) Factors. In India, NBFCs quintessentially epitomize the shadow banking system as they perform bank like credit intermediation outside the purview of banking regulation.
Apart from this, where the entire OFI assets account for approximately 24 percent of bank assets as on March 31, 2012, assets of the NBFC sector alone account for 12 percent, denoting the significance of NBFCs in the Indian shadow banking system.