Notifications - Regulating Non-Banking - ਆਰਬੀਆਈ - Reserve Bank of India
notifications
ਫ਼ਰ 27, 2024
Appointment/re-appointment of Director, Managing Director or Chief Executive Officer in Asset Reconstruction Companies
RBI/ 2023-24/127 DOR.GOV.REC.79/18.10.006/2023-24 February 27, 2024 All Asset Reconstruction Companies Dear Sir / Madam Appointment/re-appointment of Director, Managing Director or Chief Executive Officer in Asset Reconstruction Companies
RBI/ 2023-24/127 DOR.GOV.REC.79/18.10.006/2023-24 February 27, 2024 All Asset Reconstruction Companies Dear Sir / Madam Appointment/re-appointment of Director, Managing Director or Chief Executive Officer in Asset Reconstruction Companies
ਪੀਡੀਐਫ (
ਫ਼ਰ 22, 2024
Inclusion of Clearing Corporation of India Limited as a Financial Information Provider under Account Aggregator Framework
RBI/ 2023-24/125 DoR.FIN.REC. 77/ 03.10.123/ 2023-24 February 22, 2024 All Regulated Entities of the Bank Madam/ Dear Sir,
RBI/ 2023-24/125 DoR.FIN.REC. 77/ 03.10.123/ 2023-24 February 22, 2024 All Regulated Entities of the Bank Madam/ Dear Sir,
ਜਨ 15, 2024
Credit/Investment Concentration Norms – Credit Risk Transfer
RBI/2023-24/112 DOR.CRE.REC.70/21.01.003/2023-24 January 15, 2024 All Non-Banking Financial Companies including Housing Finance Companies Madam/ Dear Sir, Credit/Investment Concentration Norms – Credit Risk Transfer
RBI/2023-24/112 DOR.CRE.REC.70/21.01.003/2023-24 January 15, 2024 All Non-Banking Financial Companies including Housing Finance Companies Madam/ Dear Sir, Credit/Investment Concentration Norms – Credit Risk Transfer
ਦਸੰ 28, 2023
MHP Exemption for Transfer of Receivables
RBI/2023-24/99 DOR.STR.REC.60/21.04.048/2023-24 December 28, 2023 All Scheduled Commercial Banks (excluding Regional Rural Banks) All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) MHP Exemption for Transfer of Receivables
RBI/2023-24/99 DOR.STR.REC.60/21.04.048/2023-24 December 28, 2023 All Scheduled Commercial Banks (excluding Regional Rural Banks) All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) MHP Exemption for Transfer of Receivables
ਨਵੰ 16, 2023
Regulatory measures towards consumer credit and bank credit to NBFCs
RBI/2023-24/85 DOR.STR.REC.57/21.06.001/2023-24 November 16, 2023 Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) Non-Banking Financial Companies (including HFCs) Madam/Dear Sir, Regulatory measures towards consumer credit and bank credit to NBFCs Please refer to Governor’s Statement dated October 6, 2023 flagging the high growth in certain components of consumer credit and advising banks and non-banking financial companies (NBFCs) to strengthen their internal surveillance mechanisms, address the build-up of risks, if any, and institute suitable safeguards, in their own interest. The high growth seen in consumer credit and increasing dependency of NBFCs on bank borrowings were also highlighted by Governor in the interactions with MD/CEOs of major banks and large NBFCs in July and August 2023, respectively.
RBI/2023-24/85 DOR.STR.REC.57/21.06.001/2023-24 November 16, 2023 Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) Non-Banking Financial Companies (including HFCs) Madam/Dear Sir, Regulatory measures towards consumer credit and bank credit to NBFCs Please refer to Governor’s Statement dated October 6, 2023 flagging the high growth in certain components of consumer credit and advising banks and non-banking financial companies (NBFCs) to strengthen their internal surveillance mechanisms, address the build-up of risks, if any, and institute suitable safeguards, in their own interest. The high growth seen in consumer credit and increasing dependency of NBFCs on bank borrowings were also highlighted by Governor in the interactions with MD/CEOs of major banks and large NBFCs in July and August 2023, respectively.
ਅਕਤੂ 26, 2023
Review of Financial Information Provider (FIP) under Account Aggregator Framework
RBI/2023-24/76 DoR.FIN.REC.52/03.10.123/2023-24 October 26, 2023 All Regulated Entities of the Bank Madam/ Dear Sir, Review of Financial Information Provider (FIP) under Account Aggregator Framework Please refer to the paragraph 3(1)(xi) of Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 defining the term ‘Financial Information Provider’.
RBI/2023-24/76 DoR.FIN.REC.52/03.10.123/2023-24 October 26, 2023 All Regulated Entities of the Bank Madam/ Dear Sir, Review of Financial Information Provider (FIP) under Account Aggregator Framework Please refer to the paragraph 3(1)(xi) of Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 defining the term ‘Financial Information Provider’.
ਅਕਤੂ 26, 2023
Joining the Account Aggregator Ecosystem as Financial Information User
RBI/2023-24/77 DoR.FIN.REC.53/03.10.123/2023-24 October 26, 2023 All Regulated Entities of the Bank Dear Sir/ Madam, Joining the Account Aggregator Ecosystem as Financial Information User Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016.
RBI/2023-24/77 DoR.FIN.REC.53/03.10.123/2023-24 October 26, 2023 All Regulated Entities of the Bank Dear Sir/ Madam, Joining the Account Aggregator Ecosystem as Financial Information User Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016.
ਅਕਤੂ 10, 2023
Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) – Extension to Government NBFCs
RBI/2023-24/67 Ref. No.DoS.CO.PPG/SEC.05/11.01.005/2023-24 October 10, 2023 All Deposit Taking Government NBFC All Non-Deposit Taking Government NBFCs in Middle, Upper and Top Layers Dear Sir / Madam Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) – Extension to Government NBFCs Reserve Bank of India introduced PCA Framework for NBFCs on December 14, 2021. The Framework has since been reviewed and it has been decided to extend the same to Government NBFCs (except those in Base Layer) with effect from October 1, 2024, based on the audited financials of the NBFC as on March 31, 2024, or thereafter.
RBI/2023-24/67 Ref. No.DoS.CO.PPG/SEC.05/11.01.005/2023-24 October 10, 2023 All Deposit Taking Government NBFC All Non-Deposit Taking Government NBFCs in Middle, Upper and Top Layers Dear Sir / Madam Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) – Extension to Government NBFCs Reserve Bank of India introduced PCA Framework for NBFCs on December 14, 2021. The Framework has since been reviewed and it has been decided to extend the same to Government NBFCs (except those in Base Layer) with effect from October 1, 2024, based on the audited financials of the NBFC as on March 31, 2024, or thereafter.
ਅਗ 18, 2023
Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans
REF: No. MPD. BC.244/07.01.279/ 2003-04 November 5, 2003Kartika 14, 1925(S)To All Primary DealersDear Sirs,Primary Dealers' Access to Call/Notice Money MarketPlease refer to Paragraphs 62 and 63 of the Governor’s statement on Mid-term Review of Monetary and Credit Policy for the year 2003-04 enclosed with his letter No. MPD. BC.241/07.01.279/2003-04 dated November 3, 2003 (copy of the paragraphs enclosed). 2. It may be recalled that following the annual policy Stateme
REF: No. MPD. BC.244/07.01.279/ 2003-04 November 5, 2003Kartika 14, 1925(S)To All Primary DealersDear Sirs,Primary Dealers' Access to Call/Notice Money MarketPlease refer to Paragraphs 62 and 63 of the Governor’s statement on Mid-term Review of Monetary and Credit Policy for the year 2003-04 enclosed with his letter No. MPD. BC.241/07.01.279/2003-04 dated November 3, 2003 (copy of the paragraphs enclosed). 2. It may be recalled that following the annual policy Stateme
ਅਗ 18, 2023
Review of Regulatory Framework for IDF-NBFCs
REF: No. MPD. BC.244/07.01.279/ 2003-04 November 5, 2003Kartika 14, 1925(S)To All Primary DealersDear Sirs,Primary Dealers' Access to Call/Notice Money MarketPlease refer to Paragraphs 62 and 63 of the Governor’s statement on Mid-term Review of Monetary and Credit Policy for the year 2003-04 enclosed with his letter No. MPD. BC.241/07.01.279/2003-04 dated November 3, 2003 (copy of the paragraphs enclosed). 2. It may be recalled that following the annual policy Stateme
REF: No. MPD. BC.244/07.01.279/ 2003-04 November 5, 2003Kartika 14, 1925(S)To All Primary DealersDear Sirs,Primary Dealers' Access to Call/Notice Money MarketPlease refer to Paragraphs 62 and 63 of the Governor’s statement on Mid-term Review of Monetary and Credit Policy for the year 2003-04 enclosed with his letter No. MPD. BC.241/07.01.279/2003-04 dated November 3, 2003 (copy of the paragraphs enclosed). 2. It may be recalled that following the annual policy Stateme
ਜੂਨ 08, 2023
Guidelines on Default Loss Guarantee (DLG) in Digital Lending
RBI/2023-24/41 DOR.CRE.REC.21/21.07.001/2023-24 June 08, 2023 All Commercial Banks (including Small Finance Banks), Primary (Urban) Co-operative Banks, State Co-operative Banks, Central Co-operative Banks; and Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Dear Sir, Guidelines on Default Loss Guarantee (DLG) in Digital Lending A reference is invited to Para (3.4.3.1) of Section C of Annex-II to the RBI Press Release “Recommendations of th
RBI/2023-24/41 DOR.CRE.REC.21/21.07.001/2023-24 June 08, 2023 All Commercial Banks (including Small Finance Banks), Primary (Urban) Co-operative Banks, State Co-operative Banks, Central Co-operative Banks; and Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Dear Sir, Guidelines on Default Loss Guarantee (DLG) in Digital Lending A reference is invited to Para (3.4.3.1) of Section C of Annex-II to the RBI Press Release “Recommendations of th
ਜੂਨ 08, 2023
Framework for Compromise Settlements and Technical Write-offs
RBI/2023-24/40 DOR.STR.REC.20/21.04.048/2023-24 June 08, 2023 Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks All-India Financial Institutions Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Framework for Compromise Settlements and Technical Write-offs The Reserve Bank of India has issued various inst
RBI/2023-24/40 DOR.STR.REC.20/21.04.048/2023-24 June 08, 2023 Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks All-India Financial Institutions Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Framework for Compromise Settlements and Technical Write-offs The Reserve Bank of India has issued various inst
ਅਪ੍ਰੈ 11, 2023
Framework for acceptance of Green Deposits
RBI/2023-24/14 DOR.SFG.REC.10/30.01.021/2023-24 April 11, 2023 All Scheduled Commercial Banks including Small Finance Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks) All Deposit taking Non-Banking Finance Companies (NBFCs) including Housing Finance Companies (HFCs) Madam/Dear Sir, Framework for acceptance of Green Deposits Climate change has been recognised as one of the most critical challenges faced by the global society and economy in th
RBI/2023-24/14 DOR.SFG.REC.10/30.01.021/2023-24 April 11, 2023 All Scheduled Commercial Banks including Small Finance Banks (excluding Regional Rural Banks, Local Area Banks and Payments Banks) All Deposit taking Non-Banking Finance Companies (NBFCs) including Housing Finance Companies (HFCs) Madam/Dear Sir, Framework for acceptance of Green Deposits Climate change has been recognised as one of the most critical challenges faced by the global society and economy in th
ਫ਼ਰ 20, 2023
Implementation of Indian Accounting Standards (Ind AS)
RBI/2022-23/182 DOR.ACC.REC.No.104/21.07.001/2022-23 February 20, 2023 Dear Sir/ Madam, Implementation of Indian Accounting Standards (Ind AS) Please refer to circular DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020 on the captioned subject read with paragraph 13 (iii) of Master Circular DOR.SIG.FIN.REC 1/26.03.001/2022-23 dated April 1, 2022 on Asset Reconstruction Companies. 2. It has been observed that consequent to the implementation of Ind AS, some
RBI/2022-23/182 DOR.ACC.REC.No.104/21.07.001/2022-23 February 20, 2023 Dear Sir/ Madam, Implementation of Indian Accounting Standards (Ind AS) Please refer to circular DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020 on the captioned subject read with paragraph 13 (iii) of Master Circular DOR.SIG.FIN.REC 1/26.03.001/2022-23 dated April 1, 2022 on Asset Reconstruction Companies. 2. It has been observed that consequent to the implementation of Ind AS, some
ਦਸੰ 01, 2022
Operations of subsidiaries and branches of Indian banks and All India Financial Institutions (AIFIs) in foreign jurisdictions and in International Financial Services Centers (IFSCs) - Compliance with statutory/regulatory norms
RBI/2022-23/145 DOR.MRG.REC.87/00-00-020/2022-23 December 1, 2022 Operations of subsidiaries and branches of Indian banks and All India Financial Institutions (AIFIs) in foreign jurisdictions and in International Financial Services Centers (IFSCs) - Compliance with statutory/regulatory norms As you are aware, Reserve Bank had vide circular DBOD.No.BP.BC.89/21.04.141/2008-09 dated December 1, 2008 and circular DBOD.No.BP.BC.111/21.04.157/2013-14 dated May 12, 2014 issu
RBI/2022-23/145 DOR.MRG.REC.87/00-00-020/2022-23 December 1, 2022 Operations of subsidiaries and branches of Indian banks and All India Financial Institutions (AIFIs) in foreign jurisdictions and in International Financial Services Centers (IFSCs) - Compliance with statutory/regulatory norms As you are aware, Reserve Bank had vide circular DBOD.No.BP.BC.89/21.04.141/2008-09 dated December 1, 2008 and circular DBOD.No.BP.BC.111/21.04.157/2013-14 dated May 12, 2014 issu
ਨਵੰ 23, 2022
Inclusion of Goods and Service Tax Network (GSTN) as a Financial Information Provider under Account Aggregator Framework
RBI/2022-23/140 DoR.FIN.REC.82/03.10.123/2022-23 November 23, 2022 To All Regulated Entities of the Bank Madam/Dear Sir, Inclusion of Goods and Service Tax Network (GSTN) as a Financial Information Provider under Account Aggregator Framework Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 dated September 02, 2016. 2. With a view to facilitate cash flow-based lending to MSMEs, it has been decided
RBI/2022-23/140 DoR.FIN.REC.82/03.10.123/2022-23 November 23, 2022 To All Regulated Entities of the Bank Madam/Dear Sir, Inclusion of Goods and Service Tax Network (GSTN) as a Financial Information Provider under Account Aggregator Framework Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 dated September 02, 2016. 2. With a view to facilitate cash flow-based lending to MSMEs, it has been decided
ਅਕਤੂ 11, 2022
Diversification of activities by SPDs - Review of permissible non-core activities - Prudential regulations and other instructions
RBI/2022-23/127 DOR.FIN.REC.No.73/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities – Prudential regulations and other instructions Please refer to the circular DOR.FIN.REC.No.72/03.10.117/2022-23 dated October 11, 2022 allowing SPDs to undertake foreign exchange activities as part of their non-core activities. In this connection, SPDs shall adhere
RBI/2022-23/127 DOR.FIN.REC.No.73/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities – Prudential regulations and other instructions Please refer to the circular DOR.FIN.REC.No.72/03.10.117/2022-23 dated October 11, 2022 allowing SPDs to undertake foreign exchange activities as part of their non-core activities. In this connection, SPDs shall adhere
ਅਕਤੂ 11, 2022
Diversification of activities by SPDs - Review of permissible non-core activities
RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities A reference is invited to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are permitted to offer foreign exchange products, as allowed from time to time, to their Foreign Portfolio Inve
RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23 October 11, 2022 All Standalone Primary Dealers (SPDs) Dear Sir/ Madam, Diversification of activities by SPDs – Review of permissible non-core activities A reference is invited to circular DNBR (PD) CC.No.094/03.10.001/2018-19 dated July 27, 2018 in terms of which SPDs, as part of their non-core activities, are permitted to offer foreign exchange products, as allowed from time to time, to their Foreign Portfolio Inve
ਅਕਤੂ 11, 2022
Multiple NBFCs in a Group: Classification in Middle Layer
RBI/2022-23/129 DOR.CRE.REC.No.78/03.10.001/2022-23 October 11, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Multiple NBFCs in a Group: Classification in Middle Layer Please refer to para 1 of the Annex to the Circular on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22, 2021 delineating the four layered regulatory structure for NBFCs under Scale Based Regulatory Framework. 2. As per para 16 of the Master Dire
RBI/2022-23/129 DOR.CRE.REC.No.78/03.10.001/2022-23 October 11, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Multiple NBFCs in a Group: Classification in Middle Layer Please refer to para 1 of the Annex to the Circular on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22, 2021 delineating the four layered regulatory structure for NBFCs under Scale Based Regulatory Framework. 2. As per para 16 of the Master Dire
ਅਕਤੂ 11, 2022
Review of Regulatory Framework for Asset Reconstruction Companies (ARCs)
RBI/2022-23/128 DoR.SIG.FIN.REC.75/26.03.001/2022-23 October 11, 2022 All Asset Reconstruction Companies Dear Sir/ Madam, Review of Regulatory Framework for Asset Reconstruction Companies (ARCs) ARCs play a vital role in the management of distressed financial assets of banks and financial institutions. Considering their critical role, a need was felt to review their functioning and operating framework. Accordingly, as part of the Statement on Developmental and Regulat
RBI/2022-23/128 DoR.SIG.FIN.REC.75/26.03.001/2022-23 October 11, 2022 All Asset Reconstruction Companies Dear Sir/ Madam, Review of Regulatory Framework for Asset Reconstruction Companies (ARCs) ARCs play a vital role in the management of distressed financial assets of banks and financial institutions. Considering their critical role, a need was felt to review their functioning and operating framework. Accordingly, as part of the Statement on Developmental and Regulat
ਸਤੰ 02, 2022
Guidelines on Digital Lending
RBI/2022-23/111 DOR.CRE.REC.66/21.07.001/2022-23 September 02, 2022 All Commercial Banks, Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks; and Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Sir, Guidelines on Digital Lending A reference is invited to para 7 of the RBI Press Release “Recommendations of the Working Group on Digital Lending – Implementation” dated August 10, 2022. Detailed gu
RBI/2022-23/111 DOR.CRE.REC.66/21.07.001/2022-23 September 02, 2022 All Commercial Banks, Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks; and Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Sir, Guidelines on Digital Lending A reference is invited to para 7 of the RBI Press Release “Recommendations of the Working Group on Digital Lending – Implementation” dated August 10, 2022. Detailed gu
ਅਗ 12, 2022
Outsourcing of Financial Services - Responsibilities of regulated entities employing Recovery Agents
RBI/2022-23/108 DOR.ORG.REC.65/21.04.158/2022-23 August 12, 2022 Madam/ Sir, Outsourcing of Financial Services - Responsibilities of regulated entities employing Recovery Agents The Reserve Bank of India has from time to time advised regulated entities (REs) that the ultimate responsibility for their outsourced activities vests with them and they are, therefore, responsible for the actions of their service providers including Recovery Agents (hereafter referred to as
RBI/2022-23/108 DOR.ORG.REC.65/21.04.158/2022-23 August 12, 2022 Madam/ Sir, Outsourcing of Financial Services - Responsibilities of regulated entities employing Recovery Agents The Reserve Bank of India has from time to time advised regulated entities (REs) that the ultimate responsibility for their outsourced activities vests with them and they are, therefore, responsible for the actions of their service providers including Recovery Agents (hereafter referred to as
ਅਗ 11, 2022
Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines
RBI/2022-23/107 DOR.MRG.REC.64/00-00-005/2022-23 August 11, 2022 Dear Sir / Madam, Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines Please refer to the circular DOR.CAP.51/21.06.201/2020-21 dated March 30, 2021 and circular DOR.CAP.REC.No.97/21.06.201/2021-22 dated March 31, 2022 on the captioned subject. 2. At present, while computing capital requirements for counterparty credit risk, the following exposures, wherever allowed t
RBI/2022-23/107 DOR.MRG.REC.64/00-00-005/2022-23 August 11, 2022 Dear Sir / Madam, Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines Please refer to the circular DOR.CAP.51/21.06.201/2020-21 dated March 30, 2021 and circular DOR.CAP.REC.No.97/21.06.201/2021-22 dated March 31, 2022 on the captioned subject. 2. At present, while computing capital requirements for counterparty credit risk, the following exposures, wherever allowed t
ਜੁਲਾ 13, 2022
UNSCR 1718 Sanctions Committee on DPRK amends one Entry on its Sanctions List
RBI/2022-2023/91 DOR.AML.REC.55/14.06.001/2022-23 July 13, 2022 The Chairpersons/CEOs of all the Regulated Entities Madam/Dear Sir, UNSCR 1718 Sanctions Committee on DPRK amends one Entry on its Sanctions List Please refer to our circular DoR.AML.REC.03/14.06.001/2021-22 dated April 08, 2021 advising Regulated Entities (REs) to adhere to the ‘Implementation of Security Council Resolution on Democratic People’s Republic of Korea Order, 2017’ as amended from time to tim
RBI/2022-2023/91 DOR.AML.REC.55/14.06.001/2022-23 July 13, 2022 The Chairpersons/CEOs of all the Regulated Entities Madam/Dear Sir, UNSCR 1718 Sanctions Committee on DPRK amends one Entry on its Sanctions List Please refer to our circular DoR.AML.REC.03/14.06.001/2021-22 dated April 08, 2021 advising Regulated Entities (REs) to adhere to the ‘Implementation of Security Council Resolution on Democratic People’s Republic of Korea Order, 2017’ as amended from time to tim
ਜੂਨ 06, 2022
Provisioning for Standard assets by Non-Banking Financial Company - Upper Layer
RBI/2022-23/61 DOR.STR.REC.40/21.04.048/2022-23 June 6, 2022 All Non-Banking Financial Companies (Including Housing Finance Companies) Madam / Dear Sir, Provisioning for Standard assets by Non-Banking Financial Company – Upper Layer Please refer to the circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” wherein it was inter alia mentioned that RBI would issue guidelines on diff
RBI/2022-23/61 DOR.STR.REC.40/21.04.048/2022-23 June 6, 2022 All Non-Banking Financial Companies (Including Housing Finance Companies) Madam / Dear Sir, Provisioning for Standard assets by Non-Banking Financial Company – Upper Layer Please refer to the circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs” wherein it was inter alia mentioned that RBI would issue guidelines on diff
ਮਈ 02, 2022
Review of Minimum Investment Grade Credit Ratings for Deposits of NBFCs
RBI/2022-23/37 DOR.FIN.REC.No.30/03.10.001/2022-23 May 02, 2022 All Deposit taking NBFCs (including deposit taking HFCs) Dear Sir/ Madam, Review of Minimum Investment Grade Credit Ratings for Deposits of NBFCs Please refer to para 9 of Master Direction – Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016 wherein the names of approved credit rating agencies and their respective minimum investment grade credit rating for the pu
RBI/2022-23/37 DOR.FIN.REC.No.30/03.10.001/2022-23 May 02, 2022 All Deposit taking NBFCs (including deposit taking HFCs) Dear Sir/ Madam, Review of Minimum Investment Grade Credit Ratings for Deposits of NBFCs Please refer to para 9 of Master Direction – Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016 wherein the names of approved credit rating agencies and their respective minimum investment grade credit rating for the pu
ਅਪ੍ਰੈ 29, 2022
Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs
RBI/2022-23/36 DOR.GOV.REC.No.29/18.10.002/2022-23 April 29, 2022 All Non-Banking Financial Companies Madam/Sir, Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs As you are aware, a revised Scale Based Regulatory (SBR) framework for NBFCs was put in place vide circular DOR.CRE.REC.No.60/03.10.001/2021-22 October 22, 2021. In terms of para 3.2.3 (h) of the said circular, in order to address issues arising out of excessive risk
RBI/2022-23/36 DOR.GOV.REC.No.29/18.10.002/2022-23 April 29, 2022 All Non-Banking Financial Companies Madam/Sir, Guidelines on Compensation of Key Managerial Personnel (KMP) and Senior Management in NBFCs As you are aware, a revised Scale Based Regulatory (SBR) framework for NBFCs was put in place vide circular DOR.CRE.REC.No.60/03.10.001/2021-22 October 22, 2021. In terms of para 3.2.3 (h) of the said circular, in order to address issues arising out of excessive risk
ਅਪ੍ਰੈ 21, 2022
Legal Entity Identifier (LEI) for Borrowers
RBI/2022-23/34 DOR.CRE.REC.28/21.04.048/2022-23 April 21, 2022 All Scheduled Commercial Banks (Excluding Regional Rural Banks), All India Financial Institutions, Small Finance Banks, Local Area Banks, Primary (Urban) Co-operative Banks, and Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Legal Entity Identifier (LEI) for Borrowers Please refer to Para 3 of DBR.No.BP.BC.92/21.04.048/2017-18 dated November 2, 2017, on the captioned
RBI/2022-23/34 DOR.CRE.REC.28/21.04.048/2022-23 April 21, 2022 All Scheduled Commercial Banks (Excluding Regional Rural Banks), All India Financial Institutions, Small Finance Banks, Local Area Banks, Primary (Urban) Co-operative Banks, and Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Legal Entity Identifier (LEI) for Borrowers Please refer to Para 3 of DBR.No.BP.BC.92/21.04.048/2017-18 dated November 2, 2017, on the captioned
ਅਪ੍ਰੈ 19, 2022
Large Exposures Framework for Non-Banking Financial Company - Upper Layer (NBFC-UL)
RBI/2022-23/32 DOR.CRE.REC.24/21.01.003/2022-23 April 19, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Large Exposures Framework for Non-Banking Financial Company - Upper Layer (NBFC-UL) Please refer to paragraph 3.2.2 (d) of RBI circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs”, in terms of which a Large Exposure Framework (LEF) is prescribed for NBFCs in the U
RBI/2022-23/32 DOR.CRE.REC.24/21.01.003/2022-23 April 19, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Large Exposures Framework for Non-Banking Financial Company - Upper Layer (NBFC-UL) Please refer to paragraph 3.2.2 (d) of RBI circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on “Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs”, in terms of which a Large Exposure Framework (LEF) is prescribed for NBFCs in the U
ਅਪ੍ਰੈ 19, 2022
Loans and Advances - Regulatory Restrictions - NBFCs
RBI/2022-23/29 DOR.CRE.REC.No.25/03.10.001/2022-23 April 19, 2022 All Non-Banking Financial Companies Madam/ Dear Sir, Loans and Advances – Regulatory Restrictions - NBFCs In terms of para 3.2.2 (c) and para 3.2.3 (b) & (c) of the circular on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs issued on October 22, 2021, certain regulatory restrictions on lending were introduced in respect of NBFCs placed in different layers. Detailed guidelines
RBI/2022-23/29 DOR.CRE.REC.No.25/03.10.001/2022-23 April 19, 2022 All Non-Banking Financial Companies Madam/ Dear Sir, Loans and Advances – Regulatory Restrictions - NBFCs In terms of para 3.2.2 (c) and para 3.2.3 (b) & (c) of the circular on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs issued on October 22, 2021, certain regulatory restrictions on lending were introduced in respect of NBFCs placed in different layers. Detailed guidelines
ਅਪ੍ਰੈ 19, 2022
Scale Based Regulation (SBR) for NBFCs: Capital requirements for Non-Banking Finance Companies - Upper Layer (NBFC-UL)
RBI/2022-23/30 DOR.CAP.REC.No.21/21.06.201/2022-23 April 19, 2022 Dear Sir/ Madam, Scale Based Regulation (SBR) for NBFCs: Capital requirements for Non-Banking Finance Companies – Upper Layer (NBFC-UL) Please refer to the circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs. 2. In terms of paragraph 3.2.1 (b) of the circular ibid, NBFC-UL shall maintain Common Equity Tier 1 capita
RBI/2022-23/30 DOR.CAP.REC.No.21/21.06.201/2022-23 April 19, 2022 Dear Sir/ Madam, Scale Based Regulation (SBR) for NBFCs: Capital requirements for Non-Banking Finance Companies – Upper Layer (NBFC-UL) Please refer to the circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs. 2. In terms of paragraph 3.2.1 (b) of the circular ibid, NBFC-UL shall maintain Common Equity Tier 1 capita
ਅਪ੍ਰੈ 19, 2022
Disclosures in Financial Statements- Notes to Accounts of NBFCs
RBI/2022-23/26 DOR.ACC.REC.No.20/21.04.018/2022-23 April 19, 2022 Dear Sir/ Madam, Disclosures in Financial Statements- Notes to Accounts of NBFCs Please refer to our circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on ‘Scale Based Regulation (SBR): A Revised Regulatory Framework’ for NBFCs, which inter-alia envisages certain specific disclosures. 2. Non-Banking Finance Companies (NBFCs) are required to make disclosures in their financial statements
RBI/2022-23/26 DOR.ACC.REC.No.20/21.04.018/2022-23 April 19, 2022 Dear Sir/ Madam, Disclosures in Financial Statements- Notes to Accounts of NBFCs Please refer to our circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on ‘Scale Based Regulation (SBR): A Revised Regulatory Framework’ for NBFCs, which inter-alia envisages certain specific disclosures. 2. Non-Banking Finance Companies (NBFCs) are required to make disclosures in their financial statements
ਅਪ੍ਰੈ 11, 2022
Compliance Function and Role of Chief Compliance Officer (CCO) - NBFCs
RBI/2022-23/24 Ref.No.DoS.CO.PPG./SEC.01/11.01.005/2022-23 April 11, 2022 The Chairman / Managing Director / Chief Executive Officer All Non-Banking Financial Companies Madam / Dear Sir, Compliance Function and Role of Chief Compliance Officer (CCO) - NBFCs Please refer to the Reserve Bank’s guidelines on ‘Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs’ issued vide Circular Ref.DOR.CRE. REC.No.60/03.10.001/2021-22 dated October 22, 20211. As in
RBI/2022-23/24 Ref.No.DoS.CO.PPG./SEC.01/11.01.005/2022-23 April 11, 2022 The Chairman / Managing Director / Chief Executive Officer All Non-Banking Financial Companies Madam / Dear Sir, Compliance Function and Role of Chief Compliance Officer (CCO) - NBFCs Please refer to the Reserve Bank’s guidelines on ‘Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs’ issued vide Circular Ref.DOR.CRE. REC.No.60/03.10.001/2021-22 dated October 22, 20211. As in
ਮਾਰਚ 31, 2022
Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines
RBI/2021-22/189 DOR.CAP.REC.No.97/21.06.201/2021-22 March 31, 2022 Dear Sir/ Madam, Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines The Bilateral Netting of Qualified Financial Contracts Act, 2020 (hereafter referred to as “the Act”), has been notified by the Government of India vide Gazette Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualifi
RBI/2021-22/189 DOR.CAP.REC.No.97/21.06.201/2021-22 March 31, 2022 Dear Sir/ Madam, Bilateral Netting of Qualified Financial Contracts - Amendments to Prudential Guidelines The Bilateral Netting of Qualified Financial Contracts Act, 2020 (hereafter referred to as “the Act”), has been notified by the Government of India vide Gazette Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualifi
ਫ਼ਰ 23, 2022
Implementation of ‘Core Financial Services Solution’ by Non-Banking Financial Companies (NBFCs)
RBI/2021-22/175 DoS.CO.PPG.SEC/10/11.01.005/2021-22 February 23, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Implementation of ‘Core Financial Services Solution’ by Non-Banking Financial Companies (NBFCs) A reference is invited to para 3.2.3 (j) of the Reserve Bank’s Circular Ref. DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on ‘Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs’ in terms of which NBFCs with 10 and more
RBI/2021-22/175 DoS.CO.PPG.SEC/10/11.01.005/2021-22 February 23, 2022 All Non-Banking Financial Companies Madam / Dear Sir, Implementation of ‘Core Financial Services Solution’ by Non-Banking Financial Companies (NBFCs) A reference is invited to para 3.2.3 (j) of the Reserve Bank’s Circular Ref. DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on ‘Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs’ in terms of which NBFCs with 10 and more
ਦਸੰ 14, 2021
Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs)
RBI/2021-22/139 DoS.CO.PPG.SEC.7/11.01.005/2021-22 December 14, 2021 All Deposit Taking NBFCs [Excluding Government Companies] All Non-Deposit Taking NBFCs in Middle, Upper and Top Layers1 [Excluding – (i) NBFCs not accepting/not intending to accept public funds2; (ii) Government Companies, (iii) Primary Dealers and (iv) Housing Finance Companies] Dear Sir / Madam, Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) Reserve Bank of Ind
RBI/2021-22/139 DoS.CO.PPG.SEC.7/11.01.005/2021-22 December 14, 2021 All Deposit Taking NBFCs [Excluding Government Companies] All Non-Deposit Taking NBFCs in Middle, Upper and Top Layers1 [Excluding – (i) NBFCs not accepting/not intending to accept public funds2; (ii) Government Companies, (iii) Primary Dealers and (iv) Housing Finance Companies] Dear Sir / Madam, Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) Reserve Bank of Ind
ਨਵੰ 15, 2021
Appointment of Internal Ombudsman by Non-Banking Financial Companies
RBI/2021-2022/126 CO.CEPD.PRS.No.S874/13-01-008/2021-2022 November 15, 2021 The Chairman/Managing Director & CEO a) NBFCs-D with 10 or more branches, and b) NBFCs-ND with asset size of Rs 5,000 crore and above (excluding NBFCs given in para 3 of this direction) Madam/Dear Sir, Appointment of Internal Ombudsman by Non-Banking Financial Companies In exercise of the powers conferred by Section 45 (L) read with 45 (M) of the Reserve Bank of India Act, 1934, Reserve Ba
RBI/2021-2022/126 CO.CEPD.PRS.No.S874/13-01-008/2021-2022 November 15, 2021 The Chairman/Managing Director & CEO a) NBFCs-D with 10 or more branches, and b) NBFCs-ND with asset size of Rs 5,000 crore and above (excluding NBFCs given in para 3 of this direction) Madam/Dear Sir, Appointment of Internal Ombudsman by Non-Banking Financial Companies In exercise of the powers conferred by Section 45 (L) read with 45 (M) of the Reserve Bank of India Act, 1934, Reserve Ba
ਨਵੰ 12, 2021
Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances - Clarifications
RBI/2021-2022/125 DOR.STR.REC.68/21.04.048/2021-22 November 12, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payments Banks All Primary (Urban) Co-operative Banks/State Co-operative Banks/District Central Co-operative Banks All-India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Prudential norms on Inco
RBI/2021-2022/125 DOR.STR.REC.68/21.04.048/2021-22 November 12, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payments Banks All Primary (Urban) Co-operative Banks/State Co-operative Banks/District Central Co-operative Banks All-India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) All Non-Banking Financial Companies (including Housing Finance Companies) Madam/Dear Sir, Prudential norms on Inco
ਅਕਤੂ 22, 2021
Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs
RBI/2021-22/112 DOR.CRE.REC.No.60/03.10.001/2021-22 October 22, 2021 All Non-Banking Financial Companies Madam / Sir, Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs The contribution of NBFCs towards supporting real economic activity and their role as a supplemental channel of credit intermediation alongside banks is well recognised. Over the years, the sector has undergone considerable evolution in terms of size, complexity, and interconnectedn
RBI/2021-22/112 DOR.CRE.REC.No.60/03.10.001/2021-22 October 22, 2021 All Non-Banking Financial Companies Madam / Sir, Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs The contribution of NBFCs towards supporting real economic activity and their role as a supplemental channel of credit intermediation alongside banks is well recognised. Over the years, the sector has undergone considerable evolution in terms of size, complexity, and interconnectedn
ਜੁਲਾ 29, 2021
Rating of Deposits of HFCs - Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating
RBI/2021-22/74 DOR.FIN.REC.No.34/03.10.136/2021-22 July 29, 2021 All deposit taking Housing Finance Companies (HFCs) Madam/ Dear Sir, Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating A reference is invited to Para 25.2 of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, wherein the names of five approved credit rating agencies and their minimum investment
RBI/2021-22/74 DOR.FIN.REC.No.34/03.10.136/2021-22 July 29, 2021 All deposit taking Housing Finance Companies (HFCs) Madam/ Dear Sir, Rating of Deposits of HFCs – Approved Credit Rating Agencies and Minimum Investment Grade Credit Rating A reference is invited to Para 25.2 of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, wherein the names of five approved credit rating agencies and their minimum investment
ਜੂਨ 24, 2021
Declaration of dividends by NBFCs
RBI/2021-22/59 DOR.ACC.REC.No.23/21.02.067/2021-22 June 24, 2021 All Non-Banking Financial Companies (NBFCs) Madam / Sir, Declaration of dividends by NBFCs In order to infuse greater transparency and uniformity in practice, it has been decided to prescribe guidelines on distribution of dividend by NBFCs. Applicability 2. These guidelines shall be applicable to all NBFCs regulated by RBI1 as below: (a) Applicable NBFCs as defined in Paragraph 2(2) of Non-Banking Financ
RBI/2021-22/59 DOR.ACC.REC.No.23/21.02.067/2021-22 June 24, 2021 All Non-Banking Financial Companies (NBFCs) Madam / Sir, Declaration of dividends by NBFCs In order to infuse greater transparency and uniformity in practice, it has been decided to prescribe guidelines on distribution of dividend by NBFCs. Applicability 2. These guidelines shall be applicable to all NBFCs regulated by RBI1 as below: (a) Applicable NBFCs as defined in Paragraph 2(2) of Non-Banking Financ
ਜੂਨ 11, 2021
Risk Based Internal Audit (RBIA)
RBI/2021-22/53 DoS.CO. PPG.SEC/03/11.01.005/2021-22 June 11, 2021 The Chairman / Managing Director / Chief Executive Officer of: All deposit taking HFCs All non-deposit taking HFCs with asset size of ₹5,000 crore and above Madam/Dear Sir, Risk Based Internal Audit (RBIA) Please refer to the circular Ref. No. DoS.CO.PPG/SEC.05/11.01.005/2020-21 dated February 03, 2021 on the captioned subject. 2. On a review, it has been decided that the provisions of the aforesaid cir
RBI/2021-22/53 DoS.CO. PPG.SEC/03/11.01.005/2021-22 June 11, 2021 The Chairman / Managing Director / Chief Executive Officer of: All deposit taking HFCs All non-deposit taking HFCs with asset size of ₹5,000 crore and above Madam/Dear Sir, Risk Based Internal Audit (RBIA) Please refer to the circular Ref. No. DoS.CO.PPG/SEC.05/11.01.005/2020-21 dated February 03, 2021 on the captioned subject. 2. On a review, it has been decided that the provisions of the aforesaid cir
ਜੂਨ 10, 2021
Usage of Automated Teller Machines / Cash Recycler Machines - Review of Interchange Fee and Customer Charges
RBI/2021-22/52 DPSS.CO.OD.No.S-182/06.07.011/2021-22 June 10, 2021 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Authorised ATM Network Operators / Card Payment Network Operators / White Label ATM Operators Madam / Dear Sir, Usage of Automated Teller Machines / Cash Recycler Machines – Review of Interchange Fee and
RBI/2021-22/52 DPSS.CO.OD.No.S-182/06.07.011/2021-22 June 10, 2021 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Authorised ATM Network Operators / Card Payment Network Operators / White Label ATM Operators Madam / Dear Sir, Usage of Automated Teller Machines / Cash Recycler Machines – Review of Interchange Fee and
ਜੂਨ 04, 2021
Resolution Framework - 2.0: Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs) - Revision in the threshold for aggregate exposure
RBI/2021-22/47 DOR.STR.REC.21/21.04.048/2021-22 June 4, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework - 2.0: Resolution of Covid-19 related stress of Micro, Small and
RBI/2021-22/47 DOR.STR.REC.21/21.04.048/2021-22 June 4, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework - 2.0: Resolution of Covid-19 related stress of Micro, Small and
ਜੂਨ 04, 2021
Resolution Framework - 2.0: Resolution of Covid-19 related stress of Individuals and Small Businesses - Revision in the threshold for aggregate exposure
RBI/2021-22/46 DOR.STR.REC.20/21.04.048/2021-22 June 4, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework - 2.0: Resolution of Covid-19 related stress of Individuals and
RBI/2021-22/46 DOR.STR.REC.20/21.04.048/2021-22 June 4, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework - 2.0: Resolution of Covid-19 related stress of Individuals and
ਮਈ 31, 2021
Customer Due Diligence for transactions in Virtual Currencies (VC)
RBI/2021-22/45 DOR. AML.REC 18 /14.01.001/2021-22 May 31, 2021 All Commercial and Co-operative Banks / Payments Banks/ Small Finance Banks / NBFCs / Payment System Providers Madam / Dear Sir, Customer Due Diligence for transactions in Virtual Currencies (VC) It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC
RBI/2021-22/45 DOR. AML.REC 18 /14.01.001/2021-22 May 31, 2021 All Commercial and Co-operative Banks / Payments Banks/ Small Finance Banks / NBFCs / Payment System Providers Madam / Dear Sir, Customer Due Diligence for transactions in Virtual Currencies (VC) It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC
ਮਈ 24, 2021
Amalgamation of District Central Co-operative Banks (DCCBs) with the State Co-operative Bank (StCB) - Guidelines
RBI/2021-22/42 DOR.RUR.REC.No.17/19.51.007/2021-22 May 24, 2021 All State and Central Cooperative Banks Dear Sir/ Madam, Amalgamation of District Central Co-operative Banks (DCCBs) with the State Co-operative Bank (StCB) - Guidelines The Banking Regulation (Amendment) Act, 2020 (39 of 2020) has been notified for the State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) with effect from, April 1, 2021 vide Notification dated December 23, 2020
RBI/2021-22/42 DOR.RUR.REC.No.17/19.51.007/2021-22 May 24, 2021 All State and Central Cooperative Banks Dear Sir/ Madam, Amalgamation of District Central Co-operative Banks (DCCBs) with the State Co-operative Bank (StCB) - Guidelines The Banking Regulation (Amendment) Act, 2020 (39 of 2020) has been notified for the State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) with effect from, April 1, 2021 vide Notification dated December 23, 2020
ਮਈ 05, 2021
Resolution Framework 2.0 - Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises (MSMEs)
RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and M
RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework 2.0 – Resolution of Covid-19 related stress of Micro, Small and M
ਮਈ 05, 2021
Resolution Framework - 2.0: Resolution of Covid-19 related stress of Individuals and Small Businesses
RBI/2021-22/31 DOR.STR.REC.11/21.04.048/2021-22 May 5, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework – 2.0: Resolution of Covid-19 related stress of Individuals and S
RBI/2021-22/31 DOR.STR.REC.11/21.04.048/2021-22 May 5, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Resolution Framework – 2.0: Resolution of Covid-19 related stress of Individuals and S
ਅਪ੍ਰੈ 27, 2021
Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)
RBI/2021-22/25 Ref.No.DoS.CO.ARG/SEC.01/08.91.001/2021-22 April 27, 2021 The Chairman/Managing Director/Chief Executive Officer,All Commercial Banks (Excluding RRBs)All Primary (Urban) Co-operative Banks (UCBs)All Non-Banking Finance Companies (NBFCs) (Including Housing Finance Companies) Madam/Dear Sir, Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) The fol
RBI/2021-22/25 Ref.No.DoS.CO.ARG/SEC.01/08.91.001/2021-22 April 27, 2021 The Chairman/Managing Director/Chief Executive Officer,All Commercial Banks (Excluding RRBs)All Primary (Urban) Co-operative Banks (UCBs)All Non-Banking Finance Companies (NBFCs) (Including Housing Finance Companies) Madam/Dear Sir, Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) The fol
ਮਾਰਚ 12, 2021
Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
RBI/2020-21/106 DoR.FIN.REC.46/20.16.056/2020-21 March 12, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payment Banks All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All-India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) All Non-Banking Financial Companies (including Housing Finance Companies) All Credit Information Companies Madam / Sir,
RBI/2020-21/106 DoR.FIN.REC.46/20.16.056/2020-21 March 12, 2021 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payment Banks All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All-India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) All Non-Banking Financial Companies (including Housing Finance Companies) All Credit Information Companies Madam / Sir,
ਫ਼ਰ 24, 2021
Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Amendment of 92 entries
RBI/2020-21/103 DOR.AML.BC.No.44/14.06.001/2020-21 February 24, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List – Amendment of 92 entries Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on December 18, 2020, in terms of which “Regulated Entities (REs) shall ensure tha
RBI/2020-21/103 DOR.AML.BC.No.44/14.06.001/2020-21 February 24, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List – Amendment of 92 entries Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on December 18, 2020, in terms of which “Regulated Entities (REs) shall ensure tha
ਫ਼ਰ 22, 2021
Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List - Deletion of two entries
RBI/2020-21/101 DOR.AML.BC.No.42/14.06.001/2020-21@@NBSP@@@@NBSP@@ February 22, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List – Deletion of two entries Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on December 18, 2020, in terms of which “Regulated Entities (REs)
RBI/2020-21/101 DOR.AML.BC.No.42/14.06.001/2020-21@@NBSP@@@@NBSP@@ February 22, 2021 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da'esh) & Al-Qaida Sanctions List – Deletion of two entries Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on December 18, 2020, in terms of which “Regulated Entities (REs)
ਫ਼ਰ 12, 2021
Investment in NBFCs from FATF non-compliant jurisdictions
RBI/2020-2021/97 DOR.CO.LIC.CC No.119/03.10.001/2020-21 February 12, 2021 To Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies) andAsset Reconstruction Companies Madam / Dear Sir, Investment in NBFCs from FATF non-compliant jurisdictions The Financial Action Task Force (FATF) periodically identifies jurisdictions with weak measures to combat money laundering and terrorist financing (AML/CFT) in its following publications: i) High-Risk Jurisd
RBI/2020-2021/97 DOR.CO.LIC.CC No.119/03.10.001/2020-21 February 12, 2021 To Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies) andAsset Reconstruction Companies Madam / Dear Sir, Investment in NBFCs from FATF non-compliant jurisdictions The Financial Action Task Force (FATF) periodically identifies jurisdictions with weak measures to combat money laundering and terrorist financing (AML/CFT) in its following publications: i) High-Risk Jurisd
ਫ਼ਰ 03, 2021
Risk-Based Internal Audit (RBIA)
RBI/2020-21/88 Ref.No.DoS.CO.PPG./SEC.05/11.01.005/2020-21 @@NBSP@@February 03, 2021 The Chairman / Managing Director / Chief Executive Officer All deposit taking Non-Banking Financial Companies (NBFCs) All non-deposit taking NBFCs (including Core Investment Companies) with asset size of ₹5,000 crore and above All Primary (Urban) Co-operative Banks (UCBs) with asset size of ₹500 crore and above Madam / Dear Sir, Risk-Based Internal Audit (RBIA) An independent and effe
RBI/2020-21/88 Ref.No.DoS.CO.PPG./SEC.05/11.01.005/2020-21 @@NBSP@@February 03, 2021 The Chairman / Managing Director / Chief Executive Officer All deposit taking Non-Banking Financial Companies (NBFCs) All non-deposit taking NBFCs (including Core Investment Companies) with asset size of ₹5,000 crore and above All Primary (Urban) Co-operative Banks (UCBs) with asset size of ₹500 crore and above Madam / Dear Sir, Risk-Based Internal Audit (RBIA) An independent and effe
ਅਕਤੂ 22, 2020
Review of regulatory framework for Housing Finance Companies (HFCs)
RBI/2020-21/60 DOR.NBFC (HFC).CC.No.118/03.10.136/2020-21 October 22, 2020 To, Housing Finance Companies Madam/ Dear Sir, Review of regulatory framework for Housing Finance Companies (HFCs) Please refer to the Bank’s Press Release No.2019-20/419 dated August 13, 2019 and draft regulatory framework placed in public domain on June 17, 2020 seeking comments from stakeholders. Based on the examination of the inputs received, it has been decided to issue the revised regula
RBI/2020-21/60 DOR.NBFC (HFC).CC.No.118/03.10.136/2020-21 October 22, 2020 To, Housing Finance Companies Madam/ Dear Sir, Review of regulatory framework for Housing Finance Companies (HFCs) Please refer to the Bank’s Press Release No.2019-20/419 dated August 13, 2019 and draft regulatory framework placed in public domain on June 17, 2020 seeking comments from stakeholders. Based on the examination of the inputs received, it has been decided to issue the revised regula
ਅਗ 13, 2020
Review of Guidelines for Core Investment Companies
RBI/2020-21/24 DoR (NBFC) (PD) CC. No.117/03.10.001/2020-21 August 13, 2020 All Core Investment Companies (CICs) Madam/Dear Sir, Review of Guidelines for Core Investment Companies Please refer to the report of the Working Group (WG) to Review the Regulatory and Supervisory Framework for Core Investment Companies (CICs), constituted under the Chairmanship of Shri Tapan Ray, former Secretary, Ministry of Corporate Affairs, Government of India. The report of the WG was p
RBI/2020-21/24 DoR (NBFC) (PD) CC. No.117/03.10.001/2020-21 August 13, 2020 All Core Investment Companies (CICs) Madam/Dear Sir, Review of Guidelines for Core Investment Companies Please refer to the report of the Working Group (WG) to Review the Regulatory and Supervisory Framework for Core Investment Companies (CICs), constituted under the Chairmanship of Shri Tapan Ray, former Secretary, Ministry of Corporate Affairs, Government of India. The report of the WG was p
ਜੁਲਾ 24, 2020
Implementation of Indian Accounting Standards
RBI/2020-21/15 DOR (NBFC).CC.PD.No.116/22.10.106/2020-21 July 24, 2020 To Non-Banking Financial Companiesand Asset Reconstruction Companiesimplementing Indian Accounting Standards Madam / Sir, Implementation of Indian Accounting Standards Please refer to paragraph 3 of the Annex to our circular DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020, on the captioned subject, in terms of which any net unrealised gains arising on fair valuation of financial inst
RBI/2020-21/15 DOR (NBFC).CC.PD.No.116/22.10.106/2020-21 July 24, 2020 To Non-Banking Financial Companiesand Asset Reconstruction Companiesimplementing Indian Accounting Standards Madam / Sir, Implementation of Indian Accounting Standards Please refer to paragraph 3 of the Annex to our circular DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 dated March 13, 2020, on the captioned subject, in terms of which any net unrealised gains arising on fair valuation of financial inst
ਜੁਲਾ 16, 2020
Fair Practices Code for Asset Reconstruction Companies
RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 July 16, 2020 All Asset Reconstruction Companies Madam/Dear Sir, Fair Practices Code for Asset Reconstruction Companies In exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank are advised to adopt ‘Fair Practices Code’ so as to ensure transparency and fai
RBI/2020-21/13 DOR.NBFC(ARC) CC. No. 9/26.03.001/2020-21 July 16, 2020 All Asset Reconstruction Companies Madam/Dear Sir, Fair Practices Code for Asset Reconstruction Companies In exercise of the powers conferred by Section 9 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Asset Reconstruction Companies registered with the Bank are advised to adopt ‘Fair Practices Code’ so as to ensure transparency and fai
ਜੁਲਾ 10, 2020
Exemption from Registration as NBFC - Alternative Investment Fund (AIF)
RBI/2020-21/12 DOR (NBFC).CC.PD.No.115/03.10.001/2020-21 July 10, 2020 All Non-Banking Financial Companies (NBFCs) Madam/ Dear Sir, Exemption from Registration as NBFC – Alternative Investment Fund (AIF) A reference is invited to para 5 of Master Directions on Exemptions from the provisions of RBI Act, 1934 dated August 25, 2016. Venture capital fund companies, holding a certificate of registration obtained under section 12 of the Securities and Exchange Board of Indi
RBI/2020-21/12 DOR (NBFC).CC.PD.No.115/03.10.001/2020-21 July 10, 2020 All Non-Banking Financial Companies (NBFCs) Madam/ Dear Sir, Exemption from Registration as NBFC – Alternative Investment Fund (AIF) A reference is invited to para 5 of Master Directions on Exemptions from the provisions of RBI Act, 1934 dated August 25, 2016. Venture capital fund companies, holding a certificate of registration obtained under section 12 of the Securities and Exchange Board of Indi
ਜੁਲਾ 06, 2020
Extension of timeline for finalization of audited accounts
RBI/2020-21/11 DoR (NBFC) (PD) CC. No. 114/03.10.001/2020-21 July 06, 2020 All Non-Banking Financial Companies (NBFCs) Madam/ Dear Sir, Extension of timeline for finalization of audited accounts Please refer to para 18(2) of the Master Direction on Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016, as per which every appl
RBI/2020-21/11 DoR (NBFC) (PD) CC. No. 114/03.10.001/2020-21 July 06, 2020 All Non-Banking Financial Companies (NBFCs) Madam/ Dear Sir, Extension of timeline for finalization of audited accounts Please refer to para 18(2) of the Master Direction on Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016, as per which every appl
ਜੂਨ 24, 2020
Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines
RBI/2019-20/258 DOR(NBFC)(PD)CC.No.112/03.10.001/2019-20 June 24, 2020 All Scheduled Commercial Banks (excluding RRBs) All Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Dear Sir, Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines It has been observed that many digital platforms have emerged in the financial sector claiming to offer hassle free loans to retail indiv
RBI/2019-20/258 DOR(NBFC)(PD)CC.No.112/03.10.001/2019-20 June 24, 2020 All Scheduled Commercial Banks (excluding RRBs) All Non-Banking Financial Companies (including Housing Finance Companies) Madam/ Dear Sir, Loans Sourced by Banks and NBFCs over Digital Lending Platforms: Adherence to Fair Practices Code and Outsourcing Guidelines It has been observed that many digital platforms have emerged in the financial sector claiming to offer hassle free loans to retail indiv
ਮਈ 19, 2020
Extending Master Direction - Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies
RBI/2019-20/235 DOR.NBFC (HFC).CC.No.111/03.10.136/2019-20 May 19, 2020 To Housing Finance Companies Madam/ Sir, Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies The Master Direction – Know Your Customer (KYC) Direction, 2016 issued by the Bank has consolidated directions on Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) and is applicable to all Regulated Entities o
RBI/2019-20/235 DOR.NBFC (HFC).CC.No.111/03.10.136/2019-20 May 19, 2020 To Housing Finance Companies Madam/ Sir, Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies The Master Direction – Know Your Customer (KYC) Direction, 2016 issued by the Bank has consolidated directions on Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) and is applicable to all Regulated Entities o
ਮਾਰਚ 13, 2020
Implementation of Indian Accounting Standards
RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 March 13, 2020 To Non-Banking Financial Companies and Asset Reconstruction Companies implementing Indian Accounting Standards Madam / Sir, Implementation of Indian Accounting Standards Non-Banking Financial Companies (NBFCs) covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015 are required to comply with Indian Accounting Standards (Ind AS) for the preparation of their financial statemen
RBI/2019-20/170 DOR (NBFC).CC.PD.No.109/22.10.106/2019-20 March 13, 2020 To Non-Banking Financial Companies and Asset Reconstruction Companies implementing Indian Accounting Standards Madam / Sir, Implementation of Indian Accounting Standards Non-Banking Financial Companies (NBFCs) covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015 are required to comply with Indian Accounting Standards (Ind AS) for the preparation of their financial statemen
ਫ਼ਰ 25, 2020
Implementation of Section 51A of UAPA, 1967 - Addition of two entities to 1267 List
RBI/2019-20/164 DOR.AML.BC.No.37/14.06.001/2019-20 February 25, 2020 The Chairpersons/CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Addition of two entities to 1267 List Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Preventi
RBI/2019-20/164 DOR.AML.BC.No.37/14.06.001/2019-20 February 25, 2020 The Chairpersons/CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Addition of two entities to 1267 List Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Preventi
ਫ਼ਰ 20, 2020
Implementation of Section 51A of UAPA, 1967 - Removal of two entries from 1267 List
RBI/2019-20/163 DOR.AML.BC.No.36/14.06.001/2019-20 February 20, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Removal of two entries from 1267 List Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevent
RBI/2019-20/163 DOR.AML.BC.No.36/14.06.001/2019-20 February 20, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967 - Removal of two entries from 1267 List Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevent
ਫ਼ਰ 18, 2020
Implementation of Section 51A of UAPA, 1967: Addition of one new entry to 1533 Democratic Republic of the Congo (DRC) Sanctions list
RBI/2019-20/161 DOR.AML.BC.No.35/14.06.001/2019-20 February 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Addition of one new entry to 1533 Democratic Republic of the Congo (DRC) Sanctions list Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms o
RBI/2019-20/161 DOR.AML.BC.No.35/14.06.001/2019-20 February 18, 2020 The Chairpersons/ CEOs of all the Regulated Entities Madam/Dear Sir, Implementation of Section 51A of UAPA, 1967: Addition of one new entry to 1533 Democratic Republic of the Congo (DRC) Sanctions list Please refer to Section 51 of our Master Direction on Know Your Customer dated February 25, 2016 as amended on January 09, 2020, in terms of which “Regulated Entities (REs) shall ensure that in terms o
ਜਨ 21, 2020
Lending against security of single product - Gold jewellery
RBI/2019-20/148DOR.NBFC (PD).CC.No.108/03.10.001/2019-20 January 21, 2020 All Non-Banking Financial Companies (excluding Primary Dealers) Madam/Sir, Lending against security of single product – Gold jewellery Please refer to paragraph 27 of Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016; and paragraph 27 of Master Direction – Non-Banking Financial Company –
RBI/2019-20/148DOR.NBFC (PD).CC.No.108/03.10.001/2019-20 January 21, 2020 All Non-Banking Financial Companies (excluding Primary Dealers) Madam/Sir, Lending against security of single product – Gold jewellery Please refer to paragraph 27 of Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016; and paragraph 27 of Master Direction – Non-Banking Financial Company –
ਜਨ 09, 2020
Amendment to Master Direction (MD) on KYC
RBI/2019-20/138 DOR.AML.BC.No.27/14.01.001/2019-20 January 9, 2020 The Chairpersons/ CEOs of all the Regulated Entities Dear Sir/Madam, Amendment to Master Direction (MD) on KYC Government of India, vide Gazette Notification G.S.R. 582(E) dated August 19, 2019 and Gazette Notification G.S.R. 840(E) dated November 13, 2019, has notified amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Further, with a view to leveraging the digital c
RBI/2019-20/138 DOR.AML.BC.No.27/14.01.001/2019-20 January 9, 2020 The Chairpersons/ CEOs of all the Regulated Entities Dear Sir/Madam, Amendment to Master Direction (MD) on KYC Government of India, vide Gazette Notification G.S.R. 582(E) dated August 19, 2019 and Gazette Notification G.S.R. 840(E) dated November 13, 2019, has notified amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Further, with a view to leveraging the digital c
ਦਸੰ 31, 2019
Extension of relaxation on the guidelines to NBFCs on securitisation transactions
RBI/2019-20/131 DOR.NBFC (PD) CC.No.107/03.10.001/2019-20 December 31, 2019 All NBFCs Madam/Sir, Extension of relaxation on the guidelines to NBFCs on securitisation transactions Please refer to the circular DNBR (PD)CC.No.95/03.10.001/2018-19 dated November 29, 2018 on “Relaxation on the guidelines to NBFCs on securitisation transactions” and the circular DNBR (PD)CC.No.100/03.10.001/2018-19 dated May 29, 2019 extending the dispensation till December 31, 2019. 2. On
RBI/2019-20/131 DOR.NBFC (PD) CC.No.107/03.10.001/2019-20 December 31, 2019 All NBFCs Madam/Sir, Extension of relaxation on the guidelines to NBFCs on securitisation transactions Please refer to the circular DNBR (PD)CC.No.95/03.10.001/2018-19 dated November 29, 2018 on “Relaxation on the guidelines to NBFCs on securitisation transactions” and the circular DNBR (PD)CC.No.100/03.10.001/2018-19 dated May 29, 2019 extending the dispensation till December 31, 2019. 2. On
ਦਸੰ 23, 2019
Review of Master Directions - Non-Banking Financial Company - Peer to Peer Lending Platform (Reserve Bank) Directions, 2017
RBI/2019-20/121DOR.NBFC(PD) CC.No.106/03.10.124/2019-20 December 23, 2019 All Non-Banking Financial Company – Peer to Peer Lending Platforms Madam/Sir, Review of Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 Please refer to paragraphs 7 and 9 of Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017, dated October 04, 2017. 2. On a review, it
RBI/2019-20/121DOR.NBFC(PD) CC.No.106/03.10.124/2019-20 December 23, 2019 All Non-Banking Financial Company – Peer to Peer Lending Platforms Madam/Sir, Review of Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 Please refer to paragraphs 7 and 9 of Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017, dated October 04, 2017. 2. On a review, it
ਦਸੰ 06, 2019
Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders
RBI/2019-20/110 DOR.NBFC(ARC) CC. No. 8/26.03.001/2019-20 December 6, 2019 All Asset Reconstruction Companies Madam/ Sir, Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders Please refer to para 2(A) of Circular DNBS (PD) CC.No.37/SCRC/26.03.001/2013-2014 dated March 19, 2014. 2. On a review, it has been decided that Asset Reconstruction Companies (ARCs) shall not acquire financial assets from the following on a bilateral basis,
RBI/2019-20/110 DOR.NBFC(ARC) CC. No. 8/26.03.001/2019-20 December 6, 2019 All Asset Reconstruction Companies Madam/ Sir, Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders Please refer to para 2(A) of Circular DNBS (PD) CC.No.37/SCRC/26.03.001/2013-2014 dated March 19, 2014. 2. On a review, it has been decided that Asset Reconstruction Companies (ARCs) shall not acquire financial assets from the following on a bilateral basis,
ਨਵੰ 11, 2019
Withdrawal of exemptions granted to Housing Finance Institutions
RBI/2019-20/98 DOR NBFC (PD) CC.No.105/03.10.136/2019-20 November 11, 2019 To All Housing Finance Companies Madam/Sir, Withdrawal of exemptions granted to Housing Finance Institutions Please refer to Para 1 of our Master Direction – Exemptions from the provisions of RBI Act, 1934. 2.@@NBSP@@ Housing Finance Institutions as defined under Clause (d) of Section 2 of the National Housing Bank Act, 1987 are currently exempt from the provisions of Chapter IIIB of Reserve Ba
RBI/2019-20/98 DOR NBFC (PD) CC.No.105/03.10.136/2019-20 November 11, 2019 To All Housing Finance Companies Madam/Sir, Withdrawal of exemptions granted to Housing Finance Institutions Please refer to Para 1 of our Master Direction – Exemptions from the provisions of RBI Act, 1934. 2.@@NBSP@@ Housing Finance Institutions as defined under Clause (d) of Section 2 of the National Housing Bank Act, 1987 are currently exempt from the provisions of Chapter IIIB of Reserve Ba
ਨਵੰ 08, 2019
Technical Specifications for all participants of the Account Aggregator (AA) ecosystem
RBI/2019-20/96 DOR NBFC (PD) CC.No.104/03.10.001/2019-20 November 08, 2019 To All Regulated Entities of the Bank Madam/ Sir, Technical Specifications for all participants of the Account Aggregator (AA) ecosystem Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 dated September 02, 2016. 2. The NBFC-AA consolidates financial information of a customer held with different financial entities, spread a
RBI/2019-20/96 DOR NBFC (PD) CC.No.104/03.10.001/2019-20 November 08, 2019 To All Regulated Entities of the Bank Madam/ Sir, Technical Specifications for all participants of the Account Aggregator (AA) ecosystem Please refer to the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 dated September 02, 2016. 2. The NBFC-AA consolidates financial information of a customer held with different financial entities, spread a
ਨਵੰ 08, 2019
Qualifying Assets Criteria - Review of Limits
RBI/2019-20/95 DOR.NBFC (PD) CC. No.103/22.10.038/2019-20 November 08, 2019 To All Non-Banking Financial Companies-Micro Finance Institutions (NBFC-MFIs) Madam / Sir, Qualifying Assets Criteria - Review of Limits Please refer to the Statement on Developmental and Regulatory Policies issued as part of Monetary Policy Statement dated October 4, 2019 and Para 3 of the Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Com
RBI/2019-20/95 DOR.NBFC (PD) CC. No.103/22.10.038/2019-20 November 08, 2019 To All Non-Banking Financial Companies-Micro Finance Institutions (NBFC-MFIs) Madam / Sir, Qualifying Assets Criteria - Review of Limits Please refer to the Statement on Developmental and Regulatory Policies issued as part of Monetary Policy Statement dated October 4, 2019 and Para 3 of the Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Com
ਨਵੰ 04, 2019
Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies
RBI/2019-20/88 DOR.NBFC (PD) CC. No.102/03.10.001/2019-20 November 04, 2019 All Non-Banking Financial Companies (NBFCs) including Core Investment Companies (CICs) Madam/ Sir, Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies Please refer to paragraph 108 and paragraph 94 of Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Di
RBI/2019-20/88 DOR.NBFC (PD) CC. No.102/03.10.001/2019-20 November 04, 2019 All Non-Banking Financial Companies (NBFCs) including Core Investment Companies (CICs) Madam/ Sir, Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies Please refer to paragraph 108 and paragraph 94 of Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Di
ਅਗ 02, 2019
Levy of foreclosure charges/pre-payment penalty on Floating Rate Loans by NBFCs
RBI/2019-20/30 DNBR (PD) CC.No.101/03.10.001/2019-20 August 02, 2019 All NBFCs Madam / Dear Sir, Levy of foreclosure charges/pre-payment penalty on Floating Rate Loans by NBFCs Please refer to paragraph 30(4) of Chapter VI of Master Direction - Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and paragraph 30(4) of Chapter V of Master Direction - Non-Banking Financial Company –
RBI/2019-20/30 DNBR (PD) CC.No.101/03.10.001/2019-20 August 02, 2019 All NBFCs Madam / Dear Sir, Levy of foreclosure charges/pre-payment penalty on Floating Rate Loans by NBFCs Please refer to paragraph 30(4) of Chapter VI of Master Direction - Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and paragraph 30(4) of Chapter V of Master Direction - Non-Banking Financial Company –
ਜੂਨ 28, 2019
Permission to acquire financial asset from other Asset Reconstruction Companies (ARCs)
RBI/DNBR/2018-19/227 DNBR.PD (ARC) CC.No.07/26.03.001/2018-19 June 28, 2019 The Chairman/Managing Director/Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/Madam, Permission to acquire financial asset from other Asset Reconstruction Companies (ARCs) Please refer to Circular DNBS (PD) CC.No.35/SCRC/26.03.001/2013-2014 dated January 23, 2014 on the captioned subject. 2. In view of amendment to the Securitisation and Reconstruction of Financ
RBI/DNBR/2018-19/227 DNBR.PD (ARC) CC.No.07/26.03.001/2018-19 June 28, 2019 The Chairman/Managing Director/Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/Madam, Permission to acquire financial asset from other Asset Reconstruction Companies (ARCs) Please refer to Circular DNBS (PD) CC.No.35/SCRC/26.03.001/2013-2014 dated January 23, 2014 on the captioned subject. 2. In view of amendment to the Securitisation and Reconstruction of Financ
ਮਈ 29, 2019
Extension of relaxation on the guidelines to NBFCs on securitisation transactions
RBI/2018-19/191DNBR (PD) CC. No. 100/03.10.001/2018-19 May 29, 2019 All NBFCs Madam/Sir, Extension of relaxation on the guidelines to NBFCs on securitisation transactions Please refer to the circular DNBR (PD) CC.No.95/03.10.001/2018-19 dated November 29, 2018 on “Relaxation on the guidelines to NBFCs on securitisation transactions”. 2. On a review, it has been decided to extend the dispensation provided therein till December 31, 2019. Yours faithfully, (Manoranjan Mi
RBI/2018-19/191DNBR (PD) CC. No. 100/03.10.001/2018-19 May 29, 2019 All NBFCs Madam/Sir, Extension of relaxation on the guidelines to NBFCs on securitisation transactions Please refer to the circular DNBR (PD) CC.No.95/03.10.001/2018-19 dated November 29, 2018 on “Relaxation on the guidelines to NBFCs on securitisation transactions”. 2. On a review, it has been decided to extend the dispensation provided therein till December 31, 2019. Yours faithfully, (Manoranjan Mi
ਮਈ 16, 2019
Risk Management System - Appointment of Chief Risk Officer (CRO) for NBFCs
RBI/2018-19/184 DNBR (PD) CC. No.099/03.10.001/2018-19 May 16, 2019 Non-Banking Financial Company– Investment and Credit Companies, Infrastructure Finance Companies, Micro Finance Institutions, Factors and Infrastructure Debt Funds Madam / Dear Sir, Risk Management System – Appointment of Chief Risk Officer (CRO) for NBFCs With the increasing role of NBFCs in direct credit intermediation, there is a need for NBFCs to augment risk management practices. While Boards of
RBI/2018-19/184 DNBR (PD) CC. No.099/03.10.001/2018-19 May 16, 2019 Non-Banking Financial Company– Investment and Credit Companies, Infrastructure Finance Companies, Micro Finance Institutions, Factors and Infrastructure Debt Funds Madam / Dear Sir, Risk Management System – Appointment of Chief Risk Officer (CRO) for NBFCs With the increasing role of NBFCs in direct credit intermediation, there is a need for NBFCs to augment risk management practices. While Boards of
ਅਪ੍ਰੈ 26, 2019
Ombudsman Scheme for Non-Banking Financial Companies, 2018
EXECUTIVE DIRECTOR Ombudsman Scheme for Non-Banking Financial Companies, 2018 NOTIFICATION Ref. CEPD. PRS. No.4535/13.01.004/2018-19 April 26, 2019 The Reserve Bank of India (RBI) had vide Notification Ref.CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018, implemented the Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) as defined in Section 45-I(f) of the Reserve Bank of India Act, 1934 and registered with the RBI under Section 45-IA of the Reser
EXECUTIVE DIRECTOR Ombudsman Scheme for Non-Banking Financial Companies, 2018 NOTIFICATION Ref. CEPD. PRS. No.4535/13.01.004/2018-19 April 26, 2019 The Reserve Bank of India (RBI) had vide Notification Ref.CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018, implemented the Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) as defined in Section 45-I(f) of the Reserve Bank of India Act, 1934 and registered with the RBI under Section 45-IA of the Reser
ਅਪ੍ਰੈ 16, 2019
Licensing as Authorised Dealer- Category II
RBI/2018-19/170DNBR (PD) CC.No.098/03.10.001/2018-19 April 16, 2019 To All Systemically Important Non-Deposit taking Non-Banking Financial Company – Investment and Credit Companies Madam/Sir, Licensing as Authorised Dealer- Category II A large segment of population is increasingly getting connected with forex transactions on individual accounts. In order to increase the accessibility and efficiency of services extended to the members of the public for their day-to-day
RBI/2018-19/170DNBR (PD) CC.No.098/03.10.001/2018-19 April 16, 2019 To All Systemically Important Non-Deposit taking Non-Banking Financial Company – Investment and Credit Companies Madam/Sir, Licensing as Authorised Dealer- Category II A large segment of population is increasingly getting connected with forex transactions on individual accounts. In order to increase the accessibility and efficiency of services extended to the members of the public for their day-to-day
ਫ਼ਰ 22, 2019
Harmonisation of different categories of NBFCs
RBI/2018-19/130 DNBR (PD) CC.No.097/03.10.001/2018-19 February 22, 2019 All NBFCs Madam/ Sir, Harmonisation of different categories of NBFCs Please refer to paragraph 5 of the Statement on Developmental and Regulatory Policies of the Sixth Bi-monthly Monetary Policy Statement for 2018-19 dated February 07, 2019 on Harmonisation of NBFC Categories. 2. Over a period of time, evolution of the NBFC sector has resulted in several categories of NBFCs intended to focus on sp
RBI/2018-19/130 DNBR (PD) CC.No.097/03.10.001/2018-19 February 22, 2019 All NBFCs Madam/ Sir, Harmonisation of different categories of NBFCs Please refer to paragraph 5 of the Statement on Developmental and Regulatory Policies of the Sixth Bi-monthly Monetary Policy Statement for 2018-19 dated February 07, 2019 on Harmonisation of NBFC Categories. 2. Over a period of time, evolution of the NBFC sector has resulted in several categories of NBFCs intended to focus on sp
ਫ਼ਰ 22, 2019
Interest Subvention Scheme for MSMEs
RBI/2018-19/129 DNBR (PD) CC.No.096/03.10.001/2018-19 February 22, 2019 All systemically important non-deposit taking NBFCs Madam / Dear Sir, Interest Subvention Scheme for MSMEs As you are aware, Government of India, on November 2, 2018, has announced ‘Interest Subvention Scheme for MSMEs 2018’. 2. A copy of the salient features and operational guidelines for implementation of the captioned scheme, released by the Ministry of Micro, Small and Medium Enterprises (MSME
RBI/2018-19/129 DNBR (PD) CC.No.096/03.10.001/2018-19 February 22, 2019 All systemically important non-deposit taking NBFCs Madam / Dear Sir, Interest Subvention Scheme for MSMEs As you are aware, Government of India, on November 2, 2018, has announced ‘Interest Subvention Scheme for MSMEs 2018’. 2. A copy of the salient features and operational guidelines for implementation of the captioned scheme, released by the Ministry of Micro, Small and Medium Enterprises (MSME
ਫ਼ਰ 22, 2019
Risk Weights for exposures to NBFCs
RBI/2018-19/126 DBR.BP.BC.No.25/21.06.001/2018-19 February 22, 2019 All Scheduled Commercial Banks (Excluding Regional Rural Banks),Small Finance Banks Dear Sir / Madam, Risk Weights for exposures to NBFCs Please refer to para 5.8 and para 5.13.5 of the Master Circular on Basel III Capital Regulation dated July 1, 2015. At present claims on rated as well as unrated Non-deposit Taking Systemically Important Non-Banking Financial Companies (NBFC-ND-SI), other than Asset
RBI/2018-19/126 DBR.BP.BC.No.25/21.06.001/2018-19 February 22, 2019 All Scheduled Commercial Banks (Excluding Regional Rural Banks),Small Finance Banks Dear Sir / Madam, Risk Weights for exposures to NBFCs Please refer to para 5.8 and para 5.13.5 of the Master Circular on Basel III Capital Regulation dated July 1, 2015. At present claims on rated as well as unrated Non-deposit Taking Systemically Important Non-Banking Financial Companies (NBFC-ND-SI), other than Asset
ਜਨ 01, 2019
Micro, Small and Medium Enterprises (MSME) sector - Restructuring of Advances
RBI/2018-19/100 DBR.No.BP.BC.18/21.04.048/2018-19 January 1, 2019 All banks and NBFCs regulated by the Reserve Bank of India Dear Sir/ Madam, Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances 1. Please refer to the circulars DBR.No.BP.BC.100/21.04.048/2017-18 dated February 07, 2018 and DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018. In this regard, with a view to facilitate meaningful restructuring of MSME accounts {MSME as defined
RBI/2018-19/100 DBR.No.BP.BC.18/21.04.048/2018-19 January 1, 2019 All banks and NBFCs regulated by the Reserve Bank of India Dear Sir/ Madam, Micro, Small and Medium Enterprises (MSME) sector – Restructuring of Advances 1. Please refer to the circulars DBR.No.BP.BC.100/21.04.048/2017-18 dated February 07, 2018 and DBR.No.BP.BC.108/21.04.048/2017-18 dated June 6, 2018. In this regard, with a view to facilitate meaningful restructuring of MSME accounts {MSME as defined
ਨਵੰ 29, 2018
Relaxation on the guidelines to NBFCs on securitisation transactions
RBI/2018-19/82 DNBR (PD) CC.No.95/03.10.001/2018-19 November 29, 2018 All NBFCs Madam/Sir, Relaxation on the guidelines to NBFCs on securitisation transactions Please refer to the Guidelines on Securitisation Transactions vide paragraph 102 of Master Directions on Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions dated September 01, 2016 and paragraph 89 of Non-Banking Financial Compa
RBI/2018-19/82 DNBR (PD) CC.No.95/03.10.001/2018-19 November 29, 2018 All NBFCs Madam/Sir, Relaxation on the guidelines to NBFCs on securitisation transactions Please refer to the Guidelines on Securitisation Transactions vide paragraph 102 of Master Directions on Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions dated September 01, 2016 and paragraph 89 of Non-Banking Financial Compa
ਨਵੰ 02, 2018
Partial Credit Enhancement to Bonds Issued by Non-Banking Financial Companies and Housing Finance Companies
RBI/2018-19/70 DBR.BP.BC.No.7/21.04.142/2018-19 November 2, 2018 All Scheduled Commercial Banks(excluding RRBs) Dear Sir/Madam, Partial Credit Enhancement to Bonds Issued by Non-Banking Financial Companies and Housing Finance Companies Please refer to circular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015 on Partial Credit Enhancement to Corporate Bonds and other associated circulars issued subsequently on the subject. 2. It has now been decided to allow
RBI/2018-19/70 DBR.BP.BC.No.7/21.04.142/2018-19 November 2, 2018 All Scheduled Commercial Banks(excluding RRBs) Dear Sir/Madam, Partial Credit Enhancement to Bonds Issued by Non-Banking Financial Companies and Housing Finance Companies Please refer to circular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015 on Partial Credit Enhancement to Corporate Bonds and other associated circulars issued subsequently on the subject. 2. It has now been decided to allow
ਜੁਲਾ 27, 2018
Diversification of activities of Standalone Primary Dealers-Foreign Exchange Business
RBI/2018-19/27DNBR (PD) CC.No.094/03.10.001/2018-19 July 27, 2018 All Standalone Primary Dealers Madam/Sir, Diversification of activities of Standalone Primary Dealers-Foreign Exchange Business Please refer to Para 11 of the Statement on Developmental and Regulatory Policies issued as part of the Second Bi-monthly Monetary Policy Statement for 2018-19, dated June 06, 2018, on expanding activities of Standalone Primary Dealers (SPDs). 2. In order to facilitate SPDs to
RBI/2018-19/27DNBR (PD) CC.No.094/03.10.001/2018-19 July 27, 2018 All Standalone Primary Dealers Madam/Sir, Diversification of activities of Standalone Primary Dealers-Foreign Exchange Business Please refer to Para 11 of the Statement on Developmental and Regulatory Policies issued as part of the Second Bi-monthly Monetary Policy Statement for 2018-19, dated June 06, 2018, on expanding activities of Standalone Primary Dealers (SPDs). 2. In order to facilitate SPDs to
ਜੂਨ 07, 2018
Investment in the units of an infrastructure investment trust (InvIT) by sponsor CIC-NDSI
RBI/2017-18/189 DNBR (PD) CC.No.093/03.10.001/2017-18 June 07, 2018 Systemically Important Core Investment Companies (CIC-NDSI) Madam/ Sir, Investment in the units of an infrastructure investment trust (InvIT) by sponsor CIC-NDSI In order to enable Systemically Important Core Investment Companies (CIC-NDSI) to act as a sponsor of InvITs, it has been decided to permit CIC-NDSIs to hold InvIT units only as a sponsor. Exposure of such CICs towards InvITs shall be limited
RBI/2017-18/189 DNBR (PD) CC.No.093/03.10.001/2017-18 June 07, 2018 Systemically Important Core Investment Companies (CIC-NDSI) Madam/ Sir, Investment in the units of an infrastructure investment trust (InvIT) by sponsor CIC-NDSI In order to enable Systemically Important Core Investment Companies (CIC-NDSI) to act as a sponsor of InvITs, it has been decided to permit CIC-NDSIs to hold InvIT units only as a sponsor. Exposure of such CICs towards InvITs shall be limited
ਮਈ 31, 2018
Withdrawal of Exemptions Granted to Government Owned NBFCs
RBI/2017-18/181 DNBR (PD) CC.No.092/03.10.001/2017-18 May 31, 2018 All Government NBFCs Madam/ Sir, Withdrawal of Exemptions Granted to Government Owned NBFCs Government owned companies, as defined under Clause (45) of Section 2 of the Companies Act, 2013 (Section 617 of the Companies Act, 1956) and registered with the Reserve Bank of India as NBFCs, are currently exempt from following regulatory and statutory provisions: (i) Sections 45-IB and 45-IC of the RBI Act, 1
RBI/2017-18/181 DNBR (PD) CC.No.092/03.10.001/2017-18 May 31, 2018 All Government NBFCs Madam/ Sir, Withdrawal of Exemptions Granted to Government Owned NBFCs Government owned companies, as defined under Clause (45) of Section 2 of the Companies Act, 2013 (Section 617 of the Companies Act, 1956) and registered with the Reserve Bank of India as NBFCs, are currently exempt from following regulatory and statutory provisions: (i) Sections 45-IB and 45-IC of the RBI Act, 1
ਮਾਰਚ 15, 2018
Submission of returns by the Government-owned Non-Banking Financial Companies
RBI/2017-18/141 DNBS.PD.CC.No.1925/66.08.001/2017-18 March 15, 2018 To All Government-Owned Non-Banking Financial Companies (NBFCs) Madam/ Sir, Submission of returns by the Government-owned Non-Banking Financial Companies In exercise of the powers conferred by sections 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), it has been decided to apply the Master Direction – Non-Banking Financial Company Returns (Reserve Bank
RBI/2017-18/141 DNBS.PD.CC.No.1925/66.08.001/2017-18 March 15, 2018 To All Government-Owned Non-Banking Financial Companies (NBFCs) Madam/ Sir, Submission of returns by the Government-owned Non-Banking Financial Companies In exercise of the powers conferred by sections 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (hereinafter referred to as the RBI Act), it has been decided to apply the Master Direction – Non-Banking Financial Company Returns (Reserve Bank
ਫ਼ਰ 23, 2018
Ombudsman Scheme for Non-Banking Financial Companies, 2018
DEPUTY GOVERNOR Ombudsman Scheme for Non-Banking Financial Companies, 2018 NOTIFICATION Ref.CEPD.PRS.No.3590/13.01.004/2017-18 February 23, 2018 In exercise of the powers conferred by Section 45L of the Reserve Bank of India Act, 1934, the Reserve Bank of India (RBI) being satisfied that for the purpose of enabling it to promote conducive credit culture among the Non Banking Financial Companies (NBFCs) and to regulate the credit system of the country to its advantage,
DEPUTY GOVERNOR Ombudsman Scheme for Non-Banking Financial Companies, 2018 NOTIFICATION Ref.CEPD.PRS.No.3590/13.01.004/2017-18 February 23, 2018 In exercise of the powers conferred by Section 45L of the Reserve Bank of India Act, 1934, the Reserve Bank of India (RBI) being satisfied that for the purpose of enabling it to promote conducive credit culture among the Non Banking Financial Companies (NBFCs) and to regulate the credit system of the country to its advantage,
ਫ਼ਰ 23, 2018
Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
RBI/2017-18/133 DNBR.PD.CC.No 091/03.10.001/2017-18 February 23, 2018 All NBFCs Madam/ Dear Sir, Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer The Reserve Bank of India (RBI) has brought into operation today the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (The Scheme). The Scheme is available on the RBI website /en/web/rbi. The Non-Banking Financial Companies (NBFCs) that are covere
RBI/2017-18/133 DNBR.PD.CC.No 091/03.10.001/2017-18 February 23, 2018 All NBFCs Madam/ Dear Sir, Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer The Reserve Bank of India (RBI) has brought into operation today the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (The Scheme). The Scheme is available on the RBI website /en/web/rbi. The Non-Banking Financial Companies (NBFCs) that are covere
ਫ਼ਰ 07, 2018
Relief for MSME Borrowers registered under Goods and Services Tax (GST)
RBI/2017-18/129 DBR.No.BP.BC.100/21.04.048/2017-18 February 07, 2018 All banks and NBFCs regulated by the Reserve Bank of India Madam / Dear Sir, Relief for MSME Borrowers registered under Goods and Services Tax (GST) Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, respectively. It has been represented to us that formalisation of business through registration under GST h
RBI/2017-18/129 DBR.No.BP.BC.100/21.04.048/2017-18 February 07, 2018 All banks and NBFCs regulated by the Reserve Bank of India Madam / Dear Sir, Relief for MSME Borrowers registered under Goods and Services Tax (GST) Presently, banks and NBFCs in India generally classify a loan account as Non-Performing Asset (NPA) based on 90 day and 120 day delinquency norms, respectively. It has been represented to us that formalisation of business through registration under GST h
ਜਨ 04, 2018
Submission of Financial Information to Information Utilities
RBI/2017-18/115 DNBR.PD(ARC)CC.No.05/26.03.001/2017-18 January 04, 2018 The Chairman/ Managing Director/ Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/Madam, Submission of Financial Information to Information Utilities Please refer to circular DBR.No.Leg.BC.98/09.08.019/2017-18 dated December 19, 2017 on the captioned subject. Instructions contained therein are applicable to all registered Asset Reconstruction Companies (ARCs) as well.
RBI/2017-18/115 DNBR.PD(ARC)CC.No.05/26.03.001/2017-18 January 04, 2018 The Chairman/ Managing Director/ Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/Madam, Submission of Financial Information to Information Utilities Please refer to circular DBR.No.Leg.BC.98/09.08.019/2017-18 dated December 19, 2017 on the captioned subject. Instructions contained therein are applicable to all registered Asset Reconstruction Companies (ARCs) as well.
ਨਵੰ 23, 2017
Conversion of debt into equity- Review
RBI/2017-18/101 DNBR.PD(ARC)CC. No.04/26.03.001/2017-18 November 23, 2017 The Chairman/ Managing Director/ Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/Madam, Conversion of debt into equity- Review Please refer to our Circular DNBS(PD)CC.No. 35/SCRC/26.03.001/2013-14 dated January 23, 2014 on the above subject. 2. On a review of the limit imposed on shareholding of the post converted equity of the borrower company under reconstruction
RBI/2017-18/101 DNBR.PD(ARC)CC. No.04/26.03.001/2017-18 November 23, 2017 The Chairman/ Managing Director/ Chief Executive Officer All registered Asset Reconstruction Companies Dear Sir/Madam, Conversion of debt into equity- Review Please refer to our Circular DNBS(PD)CC.No. 35/SCRC/26.03.001/2013-14 dated January 23, 2014 on the above subject. 2. On a review of the limit imposed on shareholding of the post converted equity of the borrower company under reconstruction
ਨਵੰ 09, 2017
Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs
RBI/2017-18/87 DNBR.PD.CC.No.090/03.10.001/2017-18 November 09, 2017 To All Non-Banking Financial Companies (NBFCs), Madam/ Sir, Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs In exercise of the powers conferred under Section 45 L of the Reserve Bank of India Act, 1934, the Reserve Bank of India after being satisfied that it is necessary and expedient in the public interest so to do and with a view to put in place necess
RBI/2017-18/87 DNBR.PD.CC.No.090/03.10.001/2017-18 November 09, 2017 To All Non-Banking Financial Companies (NBFCs), Madam/ Sir, Directions on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs In exercise of the powers conferred under Section 45 L of the Reserve Bank of India Act, 1934, the Reserve Bank of India after being satisfied that it is necessary and expedient in the public interest so to do and with a view to put in place necess
ਅਗ 14, 2017
Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL)
RBI/2017-18/45 DNBR (PD).CC.No.89/03.10.001/2017-18 August 14, 2017 All Deposit Taking NBFCs (except Residuary Non-Banking Companies) Madam/Sir, Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL) A reference is invited to para 9 of the Master Direction DNBR. PD.002/03.10.119/2016-17 dated August 25, 2016 on Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, wherein,
RBI/2017-18/45 DNBR (PD).CC.No.89/03.10.001/2017-18 August 14, 2017 All Deposit Taking NBFCs (except Residuary Non-Banking Companies) Madam/Sir, Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL) A reference is invited to para 9 of the Master Direction DNBR. PD.002/03.10.119/2016-17 dated August 25, 2016 on Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, wherein,
ਅਗ 14, 2017
Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
RBI/2017-18/44 DNBR (PD) CC.No.088/03.10.001/2017-18 August 14, 2017 To All NBFCs notified as ‘Financial Institutions’ under sub clause (iv) of clause (m) of sub section (1) of section 2 read with section 31A of the SARFAESI Act, 2002 Madam/ Sir, Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017 In Writ Petition (C) No. 1088 of 2017 (M/s J.K Jewellers vs. Capri Global Capital Ltd), the Hon’ble Hi
RBI/2017-18/44 DNBR (PD) CC.No.088/03.10.001/2017-18 August 14, 2017 To All NBFCs notified as ‘Financial Institutions’ under sub clause (iv) of clause (m) of sub section (1) of section 2 read with section 31A of the SARFAESI Act, 2002 Madam/ Sir, Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017 In Writ Petition (C) No. 1088 of 2017 (M/s J.K Jewellers vs. Capri Global Capital Ltd), the Hon’ble Hi
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