TOP NBFCs SEEK RBI NOD TO RAISE RETAIL DEPOSITS

Top Non-Banking Finance Companies (NBFCs) have urged the Reserve Bank of India to allow them to raise deposits from retail investors. If allowed, this move would create a level playing field among finance companies and improve transmission of policy rates. Except for a few NBFCs with legacy licences, most NBFCs are barred from raising retail deposits.

, , and are among the few NBFCs that are permitted to accept retail deposits. The RBI governor had met the CEOs of NBFCs, housing finance companies, microfinance institutions, and industry representatives to discuss on this matter.