NBFC Registration _ New Recommendation of RBI committee

A committee set up by RBI has recommended that the Assets size of NBFC must be INR 50 Crores . At present there is no such limitation on assets size whereas the Minimum Net owned Fund is fixed at INR 2 Crores to get RBI registration as NBFC . India has presently around 14000 NFFC catering to the need of the Business community and community . If this new restriction is imposed as high as 90% of the NBFC will get out of purview of RBI which will have a significant impact to the financing  market . At present thse 14000 NBFC are playing key role for financial inclusion in the Countrty . In early 1990 India had around 40000 NBFC . After so many scam in Fixed deposit RBI presccribed minimum capital of INR 2 crores after which number of NBFC came down by 60% . It will be very top for RBI to implement this recommendation of the Committee .