Correct Answer : Option (D) - NBFCs
Note :
Reserve Bank of India recently released a discussion paper on revised regulatory framework for Non-Banking Financial Companies (NBFCs).
As per the paper, the regulatory and supervisory framework of NBFCs shall be based on a four-layered structure namely Base Layer, Middle Layer, Upper Layer and a possible Top Layer. RBI also recommended more power for the NBFC Boards on capital and risk management.
