<h1>State government-owned MNBC becomes first in India to reach Rs 1 lakh crore business volume, prompting regulatory focus</h1> A state government-owned miscellaneous non-banking company (MNBC) has reached Rs.1 lakh crore in business volume, marking a regulatory and commercial milestone as the first MNBC in India to do so. The RBI-recognized MNBC status underpins expanded product offerings and operational flexibility within a defined regulatory framework, enabling growth in branch network, customer base and profitability. The achievement may prompt closer regulatory attention to MNBC activities, consumer protection, governance and systemic risk considerations as such entities scale. The institution proposes further customer expansion and new products aimed at broadening financial inclusion.