RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 March 14, 2022 (Updated as on October 10, 2024) (Updated as on July 25, 2022) 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 Non-Banking Financial Companies (including Microfinance Institutions and Housing Finance Companies) Madam/ Dear Sir, Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022 Please refer to paragraph 8 of the Statement on Developmental and Regulatory Policies announced as a part of the Bi-monthly Monetary Policy Statement for 2020-21 dated February 5, 2021, regarding review of the regulatory framework for microfinance.