New Delhi : There is a scope for harmonisation of regulations covering non-banking financial companies (NBFCs) and the Reserve Bank is moving in that direction, Deputy Governor N S Vishwanathan said. Currently, there are different regulations for various categories of NBFCs, creating scope for arbitrage.
“There is a scope for harmonisation of regulations across NBFCs and we are moving in the direction of harmonising some of the regulations. We will get clarity on this sooner than later,” he said at an event organised by Assocham, reports .
He also said there is a need to create some new types of NBFCs to cater to the needs of the growing economy. “We are also required to create some new types of NBFCs because business demands it, situation demands it.”
