HomeCirculars › RBI/2008-09/453

CRAR Hike Deferred for NBFCs-ND-SI

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2008-09/453 · issued FY 2008-09 · ~1 min read
Quick answerRBI has deferred the CRAR increase for systemically important non-deposit taking NBFCs (asset size Rs. 100 crore and above) from 12% to 15%. The 12% deadline is now March 31, 2010, and the 15% deadline is March 31, 2011, citing difficulty in raising equity capital.

What changed

RBI extended the timeline for systemically important non-deposit taking NBFCs to meet the higher CRAR of 12% and 15%. The earlier deadline of March 31, 2009 for 12% and March 31, 2010 for 15% has been pushed back by one year each, to March 31, 2010 and March 31, 2011 respectively.

What it means for you

NBFCs-ND-SI get breathing room to raise capital amid tight market conditions. The deferral signals RBI's sensitivity to market realities while maintaining the eventual higher capital requirement.

Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.

What banks were required to do at the time

Who it affects

All non-deposit taking NBFCs with asset size of Rs. 100 crore and above (NBFCs-ND-SI)

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What is the new deadline for NBFCs-ND-SI to achieve 12% CRAR?

The deadline has been extended from March 31, 2009 to March 31, 2010.

Why did RBI defer the CRAR hike?

RBI cited the difficulty in raising equity capital in the current economic environment as the reason for the deferment.

Does this circular apply to all NBFCs?

No, it applies only to non-deposit taking NBFCs with asset size of ₹100 crore and above (systemically important NBFCs-ND-SI).

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1945: DNBS.PD/CC.No.138/03.02.002/2008-09 — "Increase in CRAR-Extension of Time" dated April 24, 2009”
📜 Read the original circular — full text as issued by RBI
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CC. No. 125/03.05.002 / 2008-2009 dated August 1, 2008. Taking into account the difficulty in raising equity capital in the current economic environment, it has been decided to defer the implementation of CRAR of 12 per cent and 15 per cent to March 31, 2010 and March 31, 2011 respectively. 2. Please acknowledge receipt to the Regional Office of the Department of Non-Banking Supervision, Reserve Bank of India under whose jurisdiction the Registered Office of your company is situated. Yours sincerely, (P. Krishnamurthy) Chief General Manager-in-Charge 2026 All Months January February March April May June July August September October November December 2025 All Months January February March April May June July August September October November December 2024 All Months January February March April May June July August September October November December 2023 All Months January February March April May June July August September October November December 2022 All Months January February March April May June July August September October November December 2021 All Months January February March April May June July August September October November December 2020 All Months January February March April May June July August September October November December 2019 All Months January February March April May June July August September October November December 2018 All Months January February March April May June July August September October November December 2017 All Months January February March April May June July August September October November December Archives 2016 All Months January February March April May June July August September October November December 2015 All Months January February March April May June July August September October November December 2014 All Months January February March April May June July August September October November December 2013 All Months January February March April May June July August September October November December 2012 All Months January February March April May June July August September October November December 2011 All Months January February March April May June July August September October November December 2010 All Months January February March April May June July August September October November December 2009 All Months January February March April May June July August September October November December 2008 All Months January February March April May June July August September October November December 2007 All Months January February March April May June July August September October November December 2006 All Months January February March April May June July August September October November December 2005 All Months January February March April May June July August September October November December 2004 All Months January February March April May June July August September October November December 2003 All Months January February March April May June July August September October November December 2002 All Months January February March April May June July August September October November December 2001 All Months January February March April May June July August September October November December 2000 All Months January February March April May June July August September October November December 1999 All Months January February March April May June July August September October November December 1998 All Months January February March April May June July August September October November December 1997 All Months January February March April May June July August September October November December 1996 All Months January February March April May June July August September October November December 1995 All Months January February March April May June July August September October November December 1994 All Months January February March April May June July August September October November December 1993 All Months January February March April May June July August September October November December 1992 All Months January February March April May June July August September October November December 1991 All Months January February March April May June July August September October November December Top Back to previous page More Links : Bank Holidays Banking Glossary Citizen's Charter Complaints Contact Us COVID-19 Measures E-LMS Events FAQs Financial Education Forms IFSC/MICR Codes Important Websites Opportunities @ RBI RBI Clarifications RBI Kehta Hai RBI’s Vision and Values (1257 kb)--> Right to Information Act Tenders Follow RBI RSS Twitter YouTube Instagram Facebook LinkedIn © Reserve Bank of India. 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Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-09/453 · issued FY 2008-09. The plain-English explanation above is BankPulse’s own independent summary.
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Key termsPlain-English definitions of terms in this circular — see the full Indian banking glossary. Repo rate · CASA · Statutory Liquidity Ratio (SLR) · Deposit insurance (DICGC)

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