“The working group will focus on the definition and classification of NBFCs, addressing regulatory gaps and regulatory arbitrage, maintaining standards of governance in the sector and appropriate approach to NBFC supervision,” RBI said.
However, the scope of examination will be within the current legislative framework, it added.
Other members include Rajiv Lall (MD & CEO of IDFC), Bharat Doshi (ED & Group CFO of Mahindra & Mahindra) and Pratip Kar, Director, Globsyn Business School, Kolkata.