The Reserve Bank of India (RBI) has been asking non bank lenders to stay away from revolving credit facilities for nearly two years, with the regulator having already removed references to such facilities while recasting its regulations, NBFC lenders and experts told ETBFSI. “We were aware that RBI is absolutely clear that it wants to maintain a differentiation between banks and NBFCs. It wanted working capital to be predominantly catered to by the banking sector,” one of the lenders said. With the central bank now proposing a formal restriction, NBFCs will be representing to seek selective curbs rather than a blanket prohibition, particularly seeking exemptions for secured lending and supply chain finance.