Total Assets of all NBFCs in a group to be aggregated for middle layer classification: RBI
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- Last Updated on 14 October, 2022
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Circular No. RBI/2022-23/129 DOR.CRE.REC.No.78/03.10.001/2022-23, Dated: 11-10-2022
RBI has clarified that the assets of NBFCs forming part of a group will be aggregated for determination of the “middle layer” status of NBFCs. If the consolidated asset size of the Group with a common set of promoters is INR 1000 crore and above, then each Investment and Credit Company (NBFC-ICC), Micro Finance Institution (NBFC-MFI), NBFC-Factor and Mortgage Guarantee Company (NBFC-MGC) lying in the Group shall be classified as an NBFC in the Middle Layer. Also, Statutory Auditors are required to certify the asset size as on March 31 of all the NBFCs in the Group which shall be furnished to the Department of Supervision of RBI.
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