Miscellaneous NBFC Directions 1977 Updated as on June 30, 2012
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2012-13/35 · issued 02 Jul 2012 · ~1 min read
Quick answerRBI consolidated the 1977 Directions for Miscellaneous Non-Banking Companies as on June 30, 2012. This is a compilation of existing rules on deposit acceptance, reporting, and compliance—no new policy changes. Banks should note the updated reference for supervisory interactions.
What changed
RBI issued a consolidated version of the Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977, updated to include all amendments up to June 30, 2012. The circular replaces earlier fragmented updates and provides a single reference text. No new regulatory requirements were introduced; this is purely a compilation exercise.
What it means for you
For banks dealing with miscellaneous non-banking companies (MNBCs), this circular clarifies the current regulatory framework for deposit-taking and reporting. Banks can rely on this consolidated text for compliance checks and due diligence on MNBC clients. It does not alter existing obligations but simplifies reference for audits and supervisory reviews.
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
Update internal reference documents with the consolidated Directions as on June 30, 2012.
Ensure that any MNBC counterparties are compliant with the deposit acceptance and reporting norms outlined in the Directions.
Train compliance teams on the updated consolidated text for accurate supervisory reporting and inspections.
Who it affects
Miscellaneous Non-Banking Companies (MNBCs), Banks with exposure to or dealings with MNBCs, RBI's Department of Non-Banking Supervision
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 18:59 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Does this circular introduce any new compliance requirements for MNBCs?
No. This circular merely consolidates the existing 1977 Directions with all amendments up to June 30, 2012. No new rules or thresholds are added.
Which entities are covered under these Directions?
The Directions apply to financial institutions that are companies and carry on specific businesses, including collecting monies under savings or prize schemes, as detailed in the notification.
Where can banks find the full updated text?
The updated notification is enclosed with the circular and also available on the RBI website at http://www.rbi.org.in.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/35
DNBS (PD) CC No.284/03.02.001/2012-13
July 2, 2012
To
The Chairman/CEOs of all Miscellaneous Non-Banking Companies
Dear Sir,
Notification as amended upto June 30, 2012 – “Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977”
As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated Circulars / notifications. The instructions contained in the Notification No.DNBC.39/DG(H)-77 dated 20th June 1977 updated as on June 30, 2012 is enclosed. The updated notification has also been placed on the RBI web-site ( http://www.rbi.org.in ).
Yours sincerely,
(Uma Subramaniam)
Chief General Manager-in-Charge
Table of Contents
Para No.
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/35 · issued 02 Jul 2012. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7401&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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