Notifications - Regulating Non-Banking - RBI - Reserve Bank of India
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Jun 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
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May 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
Apr 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
Apr 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
Apr 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
Apr 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
Apr 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
Apr 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
Apr 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
Mar 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
Feb 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
Dec 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
Nov 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
Nov 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
Oct 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
Jul 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
Jun 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
Jun 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
Jun 10, 2021
Usage of Automated Teller Machines / Cash Recycler Machines - Review of Interchange Fee and Customer Charges (Updated as on March 28, 2025)
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
Jun 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
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Page Last Updated on: April 28, 2025
