Recently RBI categorises 16  NBFCs as Upper Layer

Solution

The framework categorises NBFCs in Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). The 16 NBFCs in the list are LIC Housing Finance; Bajaj Finance; Shriram Transport Finance Company; Tata Sons; L & T Finance; Indiabulls Housing Finance; Piramal Capital & Housing Finance; Cholamandalam Investment and Finance Company; Shanghvi Finance; Mahindra & Mahindra Financial Services; PNB Housing Finance; Tata Capital Financial Services; Aditya Birla Finance; HDB Financial Services; Muthoot Finance, and Bajaj Housing Finance.