Current Affairs · Scale-Based Regulation of NBFCs

Under the Scale-Based Regulation (SBR) framework issued by the Reserve Bank of India for Non-Banking Financial Companies (NBFCs), which of the following pairs represent valid categorization layers? A. NBFC-Base Layer (NBFC-BL): Microfinance companies, peer-to-peer lending platforms B. NBFC-Middle Layer (NBFC-ML): Deposit-taking NBFCs, HFCs, Infrastructure Debt Funds C. NBFC-Upper Layer (NBFC-UL): Large systemically important NBFCs identified by RBI D. NBFC-Top Layer (NBFC-TL): Voluntary category activated in case of severe systemic risk buildup