The Reserve Bank of India (RBI) has issued draft amendment directions seeking public comments until May 04, 2026, on revising the methodology for identifying Non-Banking Financial Companies in the Upper Layer (NBFC-UL). The proposed changes aim for a transparent asset-size-based criterion of ₹1,00,000 crore or more, replacing the existing two-pronged approach. Additionally, Government-owned NBFCs will now be considered for NBFC-UL inclusion, aligning with an ownership-neutral regulatory regime. The amendments also propose allowing NBFC-ULs to use.