IST,
Master Directions
The Reserve Bank of India has started issuing Master Directions on all regulatory matters beginning January 2016. The Master Directions consolidate instructions on rules and regulations framed by the Reserve Bank under various Acts including banking issues and foreign exchange transactions.
The process of issuing Master Directions involves issuing one Master Direction for each subject matter covering all instructions on that subject. Any change in the rules, regulation or policy is communicated during the year by way of circulars/press releases. The Master Directions will be updated suitably and simultaneously whenever there is a change in the rules/regulations or there is a change in the policy. All the changes will get reflected in the Master Directions available on the RBI website along with the dates on which changes are made.
Explanations of rules and regulations will be issued by way of Frequently Asked Questions (FAQs) after issue of the Master Directions in easy to understand language wherever necessary. The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.
Master Directions
RBI/DOR/2025-26/366 DOR.FIN.REC.No.285/ 03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Standalone Primary Dealers) Directions, 2025 Table of Contents Chapter I – Preliminary 2 Chapter II – Registration 7 Chapter III – Capital Funds and Capital Requirements 9 Chapter IV – Sources and Application of Funds 42 Chapter V – Other Prudential Regulations 57 Chapter VI – Governance Issues – Corporate Governance 60 Chapter VII – Miscellaneous Instructions 62 Chapter VIII – Reporting Requirements 64 Chapter IX – Repeal and Other Provisions 65 Annex I 67 Annex II 68 Annex III 70 Annex IV 71
RBI/DOR/2025-26/366 DOR.FIN.REC.No.285/ 03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Standalone Primary Dealers) Directions, 2025 Table of Contents Chapter I – Preliminary 2 Chapter II – Registration 7 Chapter III – Capital Funds and Capital Requirements 9 Chapter IV – Sources and Application of Funds 42 Chapter V – Other Prudential Regulations 57 Chapter VI – Governance Issues – Corporate Governance 60 Chapter VII – Miscellaneous Instructions 62 Chapter VIII – Reporting Requirements 64 Chapter IX – Repeal and Other Provisions 65 Annex I 67 Annex II 68 Annex III 70 Annex IV 71
पीडीएफ (RBI/DOR/2025-26/367 DOR.FIN.REC.No.297/03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Core Investment Companies) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board of Directors and Registration 11 Chapter-III – Capital Requirements 14 Chapter-IV – Prudential Regulations 18 Chapter-V – Shareholding and Corporate Governance 22 Chapter-VI – Corporate Governance and Disclosure requirements 23 Chapter-VII – Risk Management 26 Chapter-VIII - Overseas Investment 28 Chapter-IX – Miscellaneous Instructions 29 Chapter-X – Reporting Requirements 31 Chapter-XI – Repeal and Other Provisions 32 Annex I - Additional Disclosure Requirements 34
RBI/DOR/2025-26/367 DOR.FIN.REC.No.297/03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Core Investment Companies) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board of Directors and Registration 11 Chapter-III – Capital Requirements 14 Chapter-IV – Prudential Regulations 18 Chapter-V – Shareholding and Corporate Governance 22 Chapter-VI – Corporate Governance and Disclosure requirements 23 Chapter-VII – Risk Management 26 Chapter-VIII - Overseas Investment 28 Chapter-IX – Miscellaneous Instructions 29 Chapter-X – Reporting Requirements 31 Chapter-XI – Repeal and Other Provisions 32 Annex I - Additional Disclosure Requirements 34
RBI/DOR/2025-26/368 DoR.FIN.REC.No.287/03-10-123/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies - Account Aggregator) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board and Registration 8 Chapter-III – Scope of Activities 12 Chapter-IV – Corporate Governance 19 Chapter-V – Miscellaneous Instructions 22 Chapter-VI – Repeal and Other Provisions 23
RBI/DOR/2025-26/368 DoR.FIN.REC.No.287/03-10-123/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies - Account Aggregator) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board and Registration 8 Chapter-III – Scope of Activities 12 Chapter-IV – Corporate Governance 19 Chapter-V – Miscellaneous Instructions 22 Chapter-VI – Repeal and Other Provisions 23
RBI/DOR/2025-26/369 DOR.FIN.REC.No.288/23-11-001/2025-26 November 28, 2025 Reserve Bank of India (Mortgage Guarantee Companies) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board, Registration and Permissible Activities 10 Chapter-III – Prudential Regulations 15 Chapter-IV – Corporate Governance 27 Chapter-V - Miscellaneous instructions 28 Chapter-VIII – Repeal and Other Provisions 33
RBI/DOR/2025-26/369 DOR.FIN.REC.No.288/23-11-001/2025-26 November 28, 2025 Reserve Bank of India (Mortgage Guarantee Companies) Directions, 2025 Table of Contents Chapter-I – Preliminary 2 Chapter-II – Role of Board, Registration and Permissible Activities 10 Chapter-III – Prudential Regulations 15 Chapter-IV – Corporate Governance 27 Chapter-V - Miscellaneous instructions 28 Chapter-VIII – Repeal and Other Provisions 33
RBI/DOR/2025-26/370 DOR.FIN.REC.No.289/03.10.124/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Peer to Peer Lending Platform) Directions, 2025 Table of Contents Chapter-I - Preliminary 2 Chapter-II – Role of Board, Registration and Permissible Activities 4 Chapter-III – Prudential Norms 10 Chapter-IV – Corporate Governance 17 Chapter-V – Miscellaneous Instructions 20 Chapter-VI – Repeal and Other Provisions 22 Annex I 24
RBI/DOR/2025-26/370 DOR.FIN.REC.No.289/03.10.124/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Peer to Peer Lending Platform) Directions, 2025 Table of Contents Chapter-I - Preliminary 2 Chapter-II – Role of Board, Registration and Permissible Activities 4 Chapter-III – Prudential Norms 10 Chapter-IV – Corporate Governance 17 Chapter-V – Miscellaneous Instructions 20 Chapter-VI – Repeal and Other Provisions 22 Annex I 24
RBI/DOR/2025-26/371 DOR.FIN.REC.290/ 03-10-038/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025 Table of Contents Chapter-I - Preliminary 2 Chapter-II – Role of Board of Directors and Registration Requirements 6 Chapter-III – Qualifying Assets and Permissible Activities 7 Chapter-IV – Prudential Regulations 9 Chapter-V – Shareholding and Corporate Governance 12 Chapter-VI - Risk Management 13 Chapter-VII – Miscellaneous Instructions 14 Chapter-VIII – Repeal and Other Provisions 18
RBI/DOR/2025-26/371 DOR.FIN.REC.290/ 03-10-038/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025 Table of Contents Chapter-I - Preliminary 2 Chapter-II – Role of Board of Directors and Registration Requirements 6 Chapter-III – Qualifying Assets and Permissible Activities 7 Chapter-IV – Prudential Regulations 9 Chapter-V – Shareholding and Corporate Governance 12 Chapter-VI - Risk Management 13 Chapter-VII – Miscellaneous Instructions 14 Chapter-VIII – Repeal and Other Provisions 18
RBI/DOR/2025-26/372 DoR.LIC.REC.No.291/16.13.218/2025-26 November 28, 2025 Reserve Bank of India (Non-Operative Financial Holding Company) Directions, 2025 Chapter-I Preliminary 2 A. Short Title and Commencement 2 B. Applicability 2 C. Definitions 2 Chapter-II Registration, Regulatory Structure and Shareholding 5 A. Registration 5 B. Regulatory Structure 5 C. Shareholding 6 Chapter-III Corporate Governance of NOFHC 8 Chapter-IV Prudential Norms for the NOFHC 10 A. NOFHC on a stand-alone basis 10 B. NOFHC on a consolidated basis 11 C. Exposure Norms 11 C.1 Exposure Norms for stand-alone NOFHC 11 C.2 Exposure Norms for consolidated NOFHC 12 C.3 Exposure norms for the bank held by the NOFHC 12 C.4 Exposure norms for the financial entities (other than bank) held by the NOFHC 13 Chapter-V Non-Permitted Activities of an NOFHC 14 Chapter-VI Consolidated Supervision 16 Chapter-VII Repeal and Other Provisions 17 A. Repeal and Saving 17 B. Application of other laws not barred 17 C. Interpretations 17 D. Exemptions 18
RBI/DOR/2025-26/372 DoR.LIC.REC.No.291/16.13.218/2025-26 November 28, 2025 Reserve Bank of India (Non-Operative Financial Holding Company) Directions, 2025 Chapter-I Preliminary 2 A. Short Title and Commencement 2 B. Applicability 2 C. Definitions 2 Chapter-II Registration, Regulatory Structure and Shareholding 5 A. Registration 5 B. Regulatory Structure 5 C. Shareholding 6 Chapter-III Corporate Governance of NOFHC 8 Chapter-IV Prudential Norms for the NOFHC 10 A. NOFHC on a stand-alone basis 10 B. NOFHC on a consolidated basis 11 C. Exposure Norms 11 C.1 Exposure Norms for stand-alone NOFHC 11 C.2 Exposure Norms for consolidated NOFHC 12 C.3 Exposure norms for the bank held by the NOFHC 12 C.4 Exposure norms for the financial entities (other than bank) held by the NOFHC 13 Chapter-V Non-Permitted Activities of an NOFHC 14 Chapter-VI Consolidated Supervision 16 Chapter-VII Repeal and Other Provisions 17 A. Repeal and Saving 17 B. Application of other laws not barred 17 C. Interpretations 17 D. Exemptions 18
RBI/DOR/2025-26/373 DOR.FIN.REC.No.292/ 03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Directions, 2025 Table of Contents Chapter-I - Preliminary 2 Chapter-II – Miscellaneous instructions applicable to NBFCs in Base Layer 5 Chapter-III – Miscellaneous Instructions applicable to NBFCs in Middle Layer 11 Chapter-IV – Specific directions applicable to NBFC-Factors and NBFC-ICCs registered under the Factor Regulation Act, 2011 12 Chapter-V – Specific directions applicable to Infrastructure Debt Funds – Non-Banking Financial Company (IDF-NBFCs) 16 Chapter-VI – Repeal and Other Provisions 18
RBI/DOR/2025-26/373 DOR.FIN.REC.No.292/ 03-10-119/2025-26 November 28, 2025 Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Directions, 2025 Table of Contents Chapter-I - Preliminary 2 Chapter-II – Miscellaneous instructions applicable to NBFCs in Base Layer 5 Chapter-III – Miscellaneous Instructions applicable to NBFCs in Middle Layer 11 Chapter-IV – Specific directions applicable to NBFC-Factors and NBFC-ICCs registered under the Factor Regulation Act, 2011 12 Chapter-V – Specific directions applicable to Infrastructure Debt Funds – Non-Banking Financial Company (IDF-NBFCs) 16 Chapter-VI – Repeal and Other Provisions 18
RBI/DoR/2025-26/374 DoR.FIN.REC.No.293/26.03.001/2025-26 November 28, 2025 Reserve Bank of India (Asset Reconstruction Companies) Directions, 2025 Table of Contents Chapter-I Preliminary 2 Chapter-II Role of Board of Directors, Registration and Related Matters 6 Chapter-III Guidelines on Asset Reconstruction and Securitisation 11 Chapter-IV Prudential Regulations 29 Chapter-V Governance and Conduct 31 Chapter-VI Accounting and Disclosures 42 Chapter-VII Miscellaneous Instructions 53 Chapter-VIII Repeal and Other Provisions 55 Annex I 57 Annex II 60 Annex III 64 Annex IV 65 Annex V 70 Annex VI 77
RBI/DoR/2025-26/374 DoR.FIN.REC.No.293/26.03.001/2025-26 November 28, 2025 Reserve Bank of India (Asset Reconstruction Companies) Directions, 2025 Table of Contents Chapter-I Preliminary 2 Chapter-II Role of Board of Directors, Registration and Related Matters 6 Chapter-III Guidelines on Asset Reconstruction and Securitisation 11 Chapter-IV Prudential Regulations 29 Chapter-V Governance and Conduct 31 Chapter-VI Accounting and Disclosures 42 Chapter-VII Miscellaneous Instructions 53 Chapter-VIII Repeal and Other Provisions 55 Annex I 57 Annex II 60 Annex III 64 Annex IV 65 Annex V 70 Annex VI 77
RBI/DOR/2025-26/375 DOR.FIN.REC.No.294/20.16.056/2025-26 November 28, 2025 Reserve Bank of India (Asset Reconstruction Companies – Credit Information Reporting) Directions, 2025 Table of Contents Chapter-I Preliminary 3 A. Short Title and Commencement 3 B. Applicability 3 C. Definitions 3 Chapter-II Membership of CICs 5 Chapter-III Credit Information Reporting and Dissemination 6 A. Data formats 6 B. Reporting timelines and updation 6 C. Reporting guidelines 6 D. Rectification of rejected data and review of Data Quality Index (DQI) 11 E. Correction of Credit Information Report 12 F. Use of credit information reports in credit appraisal 12 G. Display of information 12 Chapter-IV Technical Working Group 15 Chapter-V Customer Service and Grievance Redressal 17 A. Strengthening of customer service 17 B. Framework for compensation to customers 18 Chapter-VI Best Practices 26 Chapter-VII Repeal and Other Provisions 27 A. Repeal and saving 27 B. Application of other laws not barred 27 C. Interpretations 28 Annex I 29 Annex II 59 Annex III 60 Annex IV 66 Annex V 67
RBI/DOR/2025-26/375 DOR.FIN.REC.No.294/20.16.056/2025-26 November 28, 2025 Reserve Bank of India (Asset Reconstruction Companies – Credit Information Reporting) Directions, 2025 Table of Contents Chapter-I Preliminary 3 A. Short Title and Commencement 3 B. Applicability 3 C. Definitions 3 Chapter-II Membership of CICs 5 Chapter-III Credit Information Reporting and Dissemination 6 A. Data formats 6 B. Reporting timelines and updation 6 C. Reporting guidelines 6 D. Rectification of rejected data and review of Data Quality Index (DQI) 11 E. Correction of Credit Information Report 12 F. Use of credit information reports in credit appraisal 12 G. Display of information 12 Chapter-IV Technical Working Group 15 Chapter-V Customer Service and Grievance Redressal 17 A. Strengthening of customer service 17 B. Framework for compensation to customers 18 Chapter-VI Best Practices 26 Chapter-VII Repeal and Other Provisions 27 A. Repeal and saving 27 B. Application of other laws not barred 27 C. Interpretations 28 Annex I 29 Annex II 59 Annex III 60 Annex IV 66 Annex V 67
HTML Example
A paragraph is a self-contained unit of a discourse in writing dealing with a particular point or idea. Paragraphs are usually an expected part of formal writing, used to organize longer prose.
भारतीय रिझर्व्ह बँक मोबाईल ॲप्लिकेशन इंस्टॉल करा आणि नवीनतम बातम्यांचा त्वरित ॲक्सेस मिळवा!
आमचे अॅप इंस्टॉल करण्यासाठी QR कोड स्कॅन करा
पेज अंतिम अपडेट तारीख:
पेज अंतिम अपडेट तारीख: नोव्हेंबर 29, 2025
पेज अंतिम अपडेट तारीख: नोव्हेंबर 29, 2025
