NBFCs with substantial systemic risks must be subjected to higher degree of regulation: RBI DG

"One can also argue that the design of prudential regulatory framework for such NBFCs can be comparable with banks so that beyond a point of criticality to systemic risks, such NBFCs should have incentives either to convert into a commercial bank or scale down their network externalities within the financial system," he said.

source https://economictimes.indiatimes.com/industry/banking/finance/nbfcs-with-substantial-systemic-risks-must-be-subjected-to-higher-degree-of-regulation-rbi-dg/articleshow/79080797.cms