NBFCs have become a systemically important component of the financial system, over the years. They have steadily increased in number and become an integral part of the Indian Financial System playing an important role by financial inclusion into the lesser penetrated market and tapping the underutilized opportunities. In a short span of time, NBFCs have scripted a great success and growth story.
NBFCs have emerged as important financial intermediaries, particularly for the retail sectors, small-scale and underserved areas and it was expected that this will continue to grow and create opportunities in the days to come.
NBFCs act as Core Catalyst in Indian Financial System. NBFCs are regulated and supervised by Reserve Bank of India. The regulatory framework of NBFCs has evolved over years.
