RBI/DOR/ 2025-26/356 DOR.STR.REC.No.275/21.04.048/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Table of Contents Chapter I - Preliminary 2 A. Short title and commencement 2 B. Applicability 2 C. Definitions 4 Chapter II - Prudential Norms applicable to all NBFCs 6 A. Prudence in Lending and Consumer Education 6 B. Asset Classification 7 C. Provisioning Requirements 8 D. Income Recognition 12 E. Disclosure Requirements 13 Chapter III - Additional Prudential Norms applicable to an NBFC classified as NBFC – Base Layer (NBFC – BL) 14 A. Asset Classification 14 B. Provisioning Requirements 15 Chapter IV - Additional Prudential Norms applicable to a NBFC classified as NBFC–Middle Layer (NBFC–ML) 17 A. Asset Classification 17 B. Provisioning Requirements 18 Chapter V - Additional Prudential Norms applicable to a NBFC classified as NBFC–Upper Layer (NBFC–UL) 19 A. Asset Classification 19 B. Provisioning Requirements 19 Chapter VI - Repeal and Other Provisions 21 A. Repeal and saving 21 B. Application of other laws not barred 21 C. Interpretations 22

RBI/DOR/2025-26/357 DOR.STR.REC. 276/21.04.048/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025 Table of Contents Chapter I - Preliminary 5 A. Short title and commencement 5 B. Applicability 5 Part A: Resolution of Stressed Assets by a non-deposit taking NBFC with asset size of ₹500 crore or more, or a deposit taking NBFC 7 Chapter II - Definitions and General Requirements 7 A. Definitions 7 B. Board approved policies: 11 C. Early identification and reporting of stress 13 D. Disclosures 14 E. Supervisory Review 15 Chapter III - Resolution Process 16 A. Review Period 16 B. Inter Creditor Agreement 16 C. Resolution Plan 17 Chapter IV - Additional Provisioning 20 A. Delayed Implementation of Resolution Plan – Additional Specific Provisioning 20 Chapter V - Prudential Norms Applicable to Restructuring 22 A. Applicability 22 B. Asset Classification Post Restructuring 22 C. Additional Finance 22 D. Asset classification upgrade after satisfactory performance 23 E. Default by a borrower after monitoring period 24 F. Provisioning post Restructuring 24 G. Income Recognition 25 H. Change in Ownership 26 Chapter VI - Special Cases of Restructuring 28 A. Sale and Leaseback Transactions 28 B. Borrowers who have committed Frauds / Malfeasance / Wilful Default 28 C. Compromise Settlements and Technical Write-offs 29 D. Resolution of Accounts Impacted by Natural Calamities 32 E. Projects Under Implementation 32 Chapter VII - Government Debt Relief Schemes (DRS) 39 A. Prudential treatment in respect of Government Debt Relief Schemes (DRS): 39 Chapter VIII - Prudential Treatment of Instruments Acquired as part of Restructuring 42 A. Asset classification of instruments acquired as part of restructuring 42 B. Provisioning in respect of instruments acquired as part of restructuring 42 C. Valuation of instruments acquired as part of restructuring 42 D. Income Recognition from instruments acquired as part of restructuring 44 Chapter IX - Regulatory Exemptions 46 A. Exemptions from Regulations of Securities and Exchange Board of India (SEBI) 46 Part B: Resolution of Stressed Assets by a non-deposit taking NBFC with asset size of less than ₹500 crore 47 Chapter X - Preliminary 47 A. Directions from Part A applicable to a non-deposit taking NBFC with asset size of less than ₹500 crore 47 B. Definitions 47 Chapter XI - General Principles and Prudential Norms for Restructured Advances 49 A. General instructions for restructuring of advances 49 B. Asset classification norms 53 C. Income Recognition Norms 54 D. Provision on restructured advances 54 E. Provision for diminution in the fair value of restructured advances 54 Chapter XII - Prudential Norms for Conversion of Principal into Debt / Equity 57 A. Asset classification norms 57 B. Income recognition norms 57 C. Valuation and provisioning norms 57 Chapter XIII - Prudential Norms for Conversion of Unpaid Interest into 'Funded Interest Term Loan' (FITL), Debt or Equity Instruments 58 A. Asset classification norms 58 B. Income recognition norms 58 C. Valuation & Provisioning norms 58 Chapter XIV - Special Measures 59 A. Trade Relief Measures 59 Chapter XV - Repeal and Other Provisions 60 A. Repeal and saving 60 B. Application of other laws not barred 60 C. Interpretations 61 Annex 62

RBI/DOR/2025-26/358 DOR.FIN.REC.No.277/20-16-003/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Table of Contents Chapter I - Preliminary 3 Chapter II - Function of Board 10 Chapter III - Treatment of Wilful Defaulters 11 Chapter IV - Reporting of Wilful Defaulters and Large Defaulters 17 Chapter V - Preventive Measures and Role of Auditors 21 Chapter VI - Repeal and Other Provisions 24 Annex I - Format for submission of List of Large Defaulters 26 Annex II - Format for submission of data on cases of wilful default 29

RBI/DOR/2025-26/359 DOR.ACC.REC.No.278/21.04.018/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025 Table of Contents Chapter-I Preliminary 2 A. Short title and commencement 2 B. Applicability 2 Chapter-II Balance sheet and Profit and Loss Account 4 A. Preparation of the balance sheet and profit and loss account 4 B. Accounting standards to be followed 4 C. Guidance on specific issues with respect to certain Accounting Standards 4 D. Other instructions 8 Chapter-III Disclosure in Financial Statements – Notes to Accounts 9 A. General 9 B. Presentation 9 C. Disclosure requirements 10 Chapter-IV Consolidated Financial Statements 47 Chapter-V Repeal and other provisions 48 A. Repeal and saving 48 B. Application of other laws not barred 48 C. Interpretations 49 Annex I 50

RBI/DOR/2025-26/360 DOR.ACC.REC.279/ 21.02.067/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Declaration of Dividends) Directions, 2025 Table of Contents Chapter I - Preliminary 2 A. Short title and commencement 2 B. Applicability 2 C. Definitions 3 Chapter II - Declaration of dividend 5 A. Board oversight 5 B. Eligibility criteria 5 C. Quantum of dividend payable 6 D. Reporting System 8 Chapter III - Repeal provisions 9 A. Repeal and saving 9 B. Application of other laws not barred 9 C. Interpretations 10 Annex I - Reporting format for an NBFC declaring dividend 11 Annex II - Reporting format for an SPD declaring dividend 12

RBI/DOR/2025-26/361 DOR.AML.REC.No.280/14.01.003/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Directions, 2025 Table of Contents Chapter I – Preliminary 3 Chapter II – General 15 Chapter III – Customer Acceptance Policy 19 Chapter IV – Risk Management 21 Chapter V – Customer Identification Procedure (CIP) 22 Chapter VI – Customer Due Diligence (CDD) Procedure 24 Chapter VII – Record Management 48 Chapter VIII – Reporting Requirements to Financial Intelligence Unit – India 50 Chapter XI – Requirements / obligations under International Agreements - Communications from International Agencies 52 Chapter-X - Other Instructions 56 Chapter XI – Repeal and Other Provisions 67 Annex – I 69 Annex – II 83

RBI/DOR/2025-26/362 DOR.MCS.REC.No.281/01-01-039/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025 Table of Contents Chapter I – Preliminary 3 A. Short Title and Commencement 3 B. Applicability 3 C. Definitions 4 Chapter II – Institutional Framework 7 A. Role of Board 7 Chapter III – Responsible Lending Conduct 8 A. Fair Practices Code for NBFCs 8 B. Key Facts Statement for Loans & Advances 11 C. Penal Charges in Loan Accounts 14 D. Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans 16 E. Pre-payment charges on loans 18 F. Release of Movable / Immovable Property Documents on Repayment / Settlement of Personal Loans 19 G. Conduct related aspects in Lending Against Gold and Silver Collateral 20 H. Guidelines on conduct towards Microfinance borrowers 26 I. Responsibilities of Direct Sales Agents (DSA) / Direct Marketing Agents (DMA) / Recovery Agents of the NBFC 29 Chapter IV – Miscellaneous 31 A. Need for public notice before closure of the branch/office 31 B. Rounding off of transactions to the Nearest Rupee 31 C. Provision of Safe Deposit Locker Facility by NBFCs 31 D. Compliance with Hon’ble Supreme Court Order dated April 30, 2025 in the matter of Pragya Prasun and Ors. vs Union of India and Ors. (W.P.(C) 289 of 2024) and Amar Jain vs Union of India and Ors. (W.P.(C) 49 of 2025) 31 Chapter V – Repeal and Other Provisions 32 A. Repeal and saving 32 B. Application of other laws not barred 32 C. Interpretations 32 Annex I – Key Facts Statement 34 Annex II – Lending against collateral of Gold Jewellery 36

RBI/DOR/2025-26/363 DOR.ORG.REC.No.282/21-04-158/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Managing Risks in Outsourcing) Directions, 2025 Table of Contents CHAPTER I – PRELIMINARY 4 A. Short Title and Commencement 4 B. Applicability and Scope 4 C. Definitions 8 CHAPTER II – ROLE OF THE BOARD 10 A. Board Approved Policy 10 B. Key responsibilities 10 CHAPTER III – OUTSOURCING OF FINANCIAL SERVICES 12 A. Definitions 12 B. Activities that shall not be outsourced 12 C. Authorisation, Accountability, and Oversight 13 D. Governance Framework 14 D.1 Outsourcing Policy 14 D.2 Role of Senior Management 14 E. Risk Management 15 E.1 Evaluation of the Risks 15 E.2 Confidentiality and Security of Information 16 F. Outsourcing Process 17 F.1 Service Provider Evaluation 17 F.2 Outsourcing Agreement 18 F.3 Monitoring and Control of Outsourced Activities 19 F.4 Business Continuity and Management of Disaster Recovery Plan 20 F.5 Termination 21 G. Specific Outsourcing Arrangements 21 G.1 Outsourcing within a Group / Conglomerate 21 G.2 Offshore outsourcing 23 H. Redressal of Grievances related to Outsourced Services 24 CHAPTER IV – OUTSOURCING OF INFORMATION TECHNOLOGY (IT) SERVICES 26 A. Definitions 26 B. Authorisation, Accountability, and Oversight 27 C. Governance Framework 28 C.1 Outsourcing Policy 28 C.2 Role of Senior Management 28 C.3 Role of IT Function 29 D. Risk Management 30 D.1 Risk Management Framework 30 D.2 Confidentiality and Security of Information 30 E. Outsourcing Process 31 E.1 Service Provider Evaluation 31 E.2 Outsourcing Agreement 32 E.3 Monitoring and Control of Outsourced Activities 34 E.4 Inventory of Outsourced Services 36 E.5 Business Continuity and Management of Disaster Recovery Plan 36 E.6 Exit Strategy 36 E.7 Termination 37 F. Specific Outsourcing Arrangements 37 F.1 Outsourcing within a Group / Conglomerate 37 F.2 Offshore or Cross-Border outsourcing 37 F.3 Outsourcing of Security Operations Centre (SOC) 38 F.4 Usage of Cloud Computing Services 39 G. Redressal of Grievances related to Outsourced Services 44 CHAPTER V – REPEAL AND OTHER PROVISIONS 45 A. Repeal and saving 45 B. Application of other laws not barred 45 C. Interpretations 46

RBI/DOC/2025-26/364 DOR.SFG.REC.No.283/30.01.021/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Climate Finance and Management of Climate Change Risks) Directions, 2025 Table of contents Chapter I – Preliminary 3 A. Short Title and Commencement 3 B. Applicability 3 C. Definitions 3 Chapter II – Role of the Board 5 Chapter III – Framework for acceptance of Green Deposits 6 A. Policy 6 B. Denomination, interest rates and tenor of deposits 6 C. Financing Framework 6 D. Use of Proceeds 7 E. Third-Party Verification / Assurance 9 F. Impact Assessment 10 G. Reporting and Disclosures 11 Chapter IV – Repeal and other provisions 12 A. Repeal and saving 12 B. Application of other laws not barred 12 C. Interpretations 12

RBI/DOR/2025-26/365 DoR.FIN.REC.284/ 03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Housing Finance Companies) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board and Registration 12 Chapter-III – Prudential Regulation – Capital 15 Chapter-IV – Prudential Regulation - Asset Classification and Provisioning 21 Chapter-V – Prudential Regulation- Regulatory Restrictions and Limits 29 Chapter-VI – Prudential Regulation- Acceptance of Public Deposits 38 Chapter-VII – Governance- Acquisition / Transfer of Control 46 Chapter-VIII – Corporate Governance 47 Chapter-IX – Auditor’s Report 49 Chapter-X – Fair Practices Code 53 Chapter-XI – Miscellaneous Instructions 77 Chapter-XII – Reporting Requirements 87 Chapter-XV - Repeal and Other Provisions 88 Annex I 90 Annex II 94 Annex III 96 Annex IV 100 Annex V 106