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CARE Ratings Report
As on March 31, 2021, the NBFC sector (including HFCs), had an asset size of over Rs 54 lakh crore across 12 categories and the sector currently stands at 25% of the size of the banks.
RBI has been issuing a series of regulations including the Scale Based Regulations (RBI introduces Scale-based Regulations for NBFCs) which are impacting the NBFC sector.
In the current circular, RBI to ensure uniformity in the implementation of Income Recognition, Asset Classification and Provisioning norms across all lending institutions has clarified a portion of the existing guidelines which would be applicable across all lending institutions including NBFCs.
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