Economics · Economy

With reference to Non-Banking Financial Companies (NBFCs) in India, consider the following statements: 1. As per RBI's Scale-Based Regulation (SBR) framework of 2021, NBFCs are classified into Base Layer, Middle Layer, Upper Layer, and Top Layer. 2. The 'Principal Business Criterion' requires that more than 50% of an entity's total assets and gross income must be from financial activities to qualify as an NBFC. 3. NBFCs in the Upper Layer are subject to enhanced regulatory requirements similar to those applicable to large banks, including mandatory listing requirements. 4. All NBFCs with an asset size exceeding Rs 100 crore are automatically categorized as Systemically Important NBFCs (NBFC-SI). Which of the above statements are correct?