Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 (Updated as on August 29, 2023)

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on August 29, 2023*)
(Updated as on June 20, 2023*)
(Updated as on December 29, 2022*)
(Updated as on September 29, 2022*)
(Updated as on July 22, 2022*)
(Updated as on June 14, 2022*)
(Updated as on May 02, 2022*)
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on August 29, 2023*)
(Updated as on June 20, 2023*)
(Updated as on December 29, 2022*)
(Updated as on September 29, 2022*)
(Updated as on July 22, 2022*)
(Updated as on June 14, 2022*)
(Updated as on May 02, 2022*)
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on September 29, 2022*)
(Updated as on July 22, 2022*)
(Updated as on June 14, 2022*)
(Updated as on May 02, 2022*)
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on July 22, 2022*)
(Updated as on June 14, 2022*)
(Updated as on May 02, 2022*)
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on June 14, 2022*)
(Updated as on May 02, 2022*)
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on May 02, 2022*)
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on April 01, 2022*)
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on March 03, 2022*)
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND)from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012), hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS. PD. CC. No. 168 / 03.02.089 / 2009-10 dated February 12, 2010, Notification DNBS.PD.No.234 / CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(J P Sharma)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on February 17, 2020*)
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company –Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND) from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 6 of the Factoring Regulation Act, 2011, hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS.PD.CC.No.168/ 03.02.089/2009-10 dated February 12, 2010, Notification DNBS.PD.No.234/ CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(Manoranjan Mishra)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on November 22, 2019*)
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company –Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND) from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 6 of the Factoring Regulation Act, 2011, hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS.PD.CC.No.168/ 03.02.089/2009-10 dated February 12, 2010, Notification DNBS.PD.No.234/ CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(Manoranjan Mishra)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on August 02, 2019*)
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company –Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND) from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 6 of the Factoring Regulation Act, 2011, hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS.PD.CC.No.168/ 03.02.089/2009-10 dated February 12, 2010, Notification DNBS.PD.No.234/ CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(Manoranjan Mishra)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on February 22, 2019*)
(Updated as on May 31, 2018*)
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company –Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND) from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 6 of the Factoring Regulation Act, 2011, hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS.PD.CC.No.168/ 03.02.089/2009-10 dated February 12, 2010, Notification DNBS.PD.No.234/ CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(Manoranjan Mishra)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company –Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND) from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 6 of the Factoring Regulation Act, 2011, hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS.PD.CC.No.168/ 03.02.089/2009-10 dated February 12, 2010, Notification DNBS.PD.No.234/ CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(C.D.Srinivasan)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.

RBI/DNBR/2016-17/44
Master Direction DNBR.PD.007/03.10.119/2016-17

September 01, 2016
(Updated as on February 23, 2018*)
(Updated as on November 09, 2017*)
(Updated as on March 09, 2017*)
(Updated as on March 02, 2017*)
(Updated as on February 02, 2017*)
(Updated as on October 17, 2016*)

Master Direction - Non-Banking Financial Company –Non-Systemically
Important Non-Deposit taking Company (Reserve Bank) Directions, 2016

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Non-Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND) from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such NBFCs, and in exercise of the powers conferred under sections 45JA, 45L and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 6 of the Factoring Regulation Act, 2011, hereby issues to every NBFC-ND, in supersession of the Notification No.DNBS.193/ DG(VL)-2007 dated February 22, 2007, Notification DNBS.PD.CC.No.168/ 03.02.089/2009-10 dated February 12, 2010, Notification DNBS.PD.No.234/ CGM(US)2011 dated December 02, 2011, Notification DNBS.PD.No.247/CGM(US)-2012 dated July 23, 2012 and Notification No.DNBR.008/CGM(CDS)-2015 dated March 27, 2015 the Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 (the Directions) hereinafter specified.

(C.D.Srinivasan)
Chief General Manager

* Since this Master Direction has been significantly amended, it has been replaced rather than showing the changes in track mode for reader convenience.