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- This list includes major Non-Banking Financial Companies (NBFCs) such as Tata Sons Private Ltd, Bajaj Finance Ltd, LIC Housing Finance Ltd, and Aditya Birla Finance Ltd.
- Despite Tata Sons' proposal to deregister as an NBFC, it remains on the list.
- Being classified in the upper layer means that these NBFCs are subject to enhanced regulatory requirements, aimed at ensuring stability and mitigating systemic risks, for at least five years.
- This includes stricter capital adequacy norms, enhanced disclosures, and more robust governance frameworks.
Question:
1 For how long are NBFCs in the upper layer subject to enhanced regulatory requirements?
- A) At least one year
- B) At least three years
- C) At least five years
- D) At least ten years