Reports and Indices First flagship India Finance Report 2023 Centre for Advanced Financial Research and Learning (CAFRAL) released its first flagship India Finance Report 2023. The theme of the report is “Connecting the Last Mile: Non-Banking Financial Companies (NBFCs) in India”. The report states that NBFCs are at the forefront of digital lending. CAFRAL was set up in 2006 as an independent body by RBI to promote finance, macroeconomics, and public policy research
