The Reserve Bank of India is in the process of reviewing the regulatory framework for non-banking financial companies, says R. Gandhi, deputy governor. The central bank will frame the new guidelines to incorporate in the light of recent developments, including the Nachiket Mor committee report, he added. Gandhi said the RBI is working on certain statutory changes relating to the NBFC sector in consonance with the government with a view to tighten the regulation, especially the definition of regulation. “We want to make it tighter, so that it will be easy for everybody to understand what is a deposit and who can and who cannot accept it. That clarity we want to bring in,” he added.