It revises the methodology for identifying Upper Layer NBFCs (NBFC- ULs) under the Scale Based Regulatory Framework. The new framework provides that only NBFCs with an asset size of Rs 1,00,000 crore or above, based on the latest audited financial statements, will constitute the Upper Layer. Several earlier provisions relating to parametric assessment and identification methodology have been removed, while the asset-size threshold will now be reviewed every three years. The amendment also introduces new guidelines for NBFCs that are group entities of Scheduled Commercial Banks, requiring them to comply with applicable banking regulations where similar financial activities are undertaken by both the parent bank and the NBFC, without altering their layer-wise classification.