RBI proposes new rules to make life easier for NBFCs
The Reserve Bank of India proposed new rules to help smaller Non-Banking Financial Companies (NBFCs) run with less red tape.
If an NBFC has assets under ₹1,000 crore, doesn't take public money, and doesn't deal directly with customers, it is proposed to be exempted from the requirement to register with the RBI.
Plus, it is proposed to dispense with the requirement for certain NBFCs to obtain prior approval to open more than 1,000 branches.
What it means for people
This move means quicker growth for NBFCs in smaller cities and towns—so financial services could reach more people who need them.
Gold loan companies especially get a leg up to expand faster and serve folks who often get left out.
As Abhimanyu Munjal from Hero FinCorp put it, these changes will make credit more accessible for underserved communities.
All this comes alongside steady interest rates and higher MSME loan limits—so the RBI is aiming to support growth while keeping things stable.