The Reserve Bank of India (RBI) on Saturday directed Non-Banking Financial Companies (NBFCs) to make additional disclosures, including position of non-performing assets (NPAs), along with the balance sheet from the fiscal ending March 31, 2003. The attached schedule should include information on borrower-wise and investor-wise exposure to related parties, business levels in lease and hire purchase and other activities, RBI said. It may be recalled that most of the NBFCs operating in India are saddled with huge NPAs.‘‘Most of them have shut shop due to huge NPA levels. Investors who have put money in such NBFCs are running from pillar to post to get back their fixed deposits,’’ said an analyst. Many NBFCs had taken funds from investors and banks and later diverted to their group companies.
