Regulating Non-Banking

A) Analysis of the performance under the Citizen’s Charter during the month of December 2025 has been carried out, and the summary thereof is given below – Description No. of Applications A Applications pending at the beginning of the month 3,217 B Applications received during the month 24,544 C Referred back to applicants for additional information 388

The Reserve Bank of India had, on October 24, 2025, issued draft Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Amendment Directions, 2025 seeking feedback from stakeholders. The amendment directions were aimed primarily at aligning risk weights with the actual risk characteristics of operational infrastructure projects thereby promoting better risk assessment and capital allocation.

Extant guidelines stipulate submission of credit information by Credit Institutions (CIs) to Credit Information Companies (CICs) at fortnightly or shorter intervals. Given the increasing reliance of CIs on credit information reports (CIRs) in credit underwriting processes, it is imperative that the CIRs provided by CICs reflect more recent information. Upon review, it was proposed to amend the extant instructions and transition to weekly incremental submission of credit information by CIs to CICs along with measures to facilitate faster data submission and error rectification. Accordingly, the Reserve Bank had issued Draft Reserve Bank of India (Credit Information Reporting) (1st Amendment) Directions, 2025, on September 29, 2025, inviting public comments / feedback.

Analysis of the performance under the Citizen’s Charter during the month of November 2025 has been carried out, and the summary thereof is given below –

Reserve Bank has taken the following measures with a view to mitigate the impact of trade disruptions on exports arising on account of global headwinds. A. FEMA Regulation on realization and repatriation of proceeds of export of goods/ software/ services and advance payment against exports (Hyperlink) i) Extension in the time period for realisation and repatriation of full export value of goods/software/services exported from India from nine months to fifteen months from the date of export from India; ii) Increase in the time period for shipment of goods from one year to three years from the date of receipt of advance payment or as per agreement, whichever is later. B. Reserve Bank of India (Trade Relief Measures) Directions, 2025 (Hyperlink)

The following 2 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Cancellation of CoR due to exit from Non-Banking Financial Institution (NBFI) business Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued on Date of Cancellation of CoR

Analysis of the performance under the Citizen’s Charter during the month of October 2025 has been carried out, and the summary thereof is given below –

In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated October 01, 2025, the Reserve Bank of India (RBI) has today issued the following draft Directions for public comments:

In terms of para 7(b) of the captioned Directions dated July 29, 2025, it has been stipulated that the Reserve Bank may, in consultation with the Government of India, by a notification, exempt certain Alternative Investment Funds (AIFs) from the scope of the above Directions (except for paragraph 5 – “General Requirement”), and the previous circulars dated December 19, 2023 and March 27, 2024 issued on the matter.

The Reserve Bank has constantly endeavoured to optimise its regulatory framework with a focus inter alia on reducing the regulatory burden and compliance costs, apart from timely re-evaluation of the currency of existing instructions. Pursuant to the above, the Reserve Bank has undertaken a comprehensive exercise of consolidating the regulatory instructions currently administered by the Department of Regulation, on ‘as is’ basis. The existing universe of regulatory instructions issued up to October 9, 2025 have been consolidated into 238 Master Directions, across 11 types of regulated entities on up to 30 functions / areas. Consequently, approximately 9000 circulars (including Master Circulars / Master Directions) administered by the Department of Regulation will be repealed.