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ICICI Securities Report
With Scale Based Regulation framework for NBFCs coming into effect from October 2022, RBI has issued guidelines aligning NBFCs prudential norms (related to capital requirement, large and counterparty exposure limits), processes (core banking solution), governance standards and disclosures (financial statement disclosures in notes to accounts) to that of banks.
It earlier highlighted that they will first issue an integrated regulatory framework for NBFCs under SBR providing a holistic view of the SBR structure and detailed guidelines will be issued subsequently.
While it aligns regulations with banks on some aspects, it does not dilute either operational flexibility or return profile or business models.
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