Top NBFCs seek a glide path for switch to banking avatar

Mumbai: Non-bank finance companies (NBFC) have suggested that the central bank lay down a transition path for top-tier shadow lenders wishing to convert into high-street banks as they are largely prepared for such a conversion. In a five-page letter addressed to the chief general manager in charge of regulations at Mint Road, non-bank lenders have also suggested allowing a 3-4 year transitory period before bringing down NPA recognition norms to