NBFC Infrastructure Loan Definition Harmonised with Banks
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2012-13/351 · issued 28 Dec 2012 · ~2 min read
Quick answerRBI has aligned NBFC infrastructure loan definition with banks, adopting the government's March 2012 master list. Existing exposures to dropped sub-sectors retain benefits until project completion, but fresh loans from December 28, 2012, no longer qualify as infrastructure lending.
What changed
The definition of 'infrastructure loan' for NBFCs has been harmonised with that of banks, replacing the earlier NBFC Prudential Norms Directions, 2007 definition. The revised definition now matches the government's Master List of Infrastructure sub-sectors notified on March 27, 2012. Exposures to sub-sectors removed from the list continue to get infrastructure lending benefits only until project completion; new lending to those sub-sectors from the circular date does not qualify.
What it means for you
NBFCs must immediately apply the new sub-sector list for classifying loans as infrastructure lending, affecting capital adequacy, provisioning, and exposure norms. Loans to sub-sectors like certain hotels or older categories lose infrastructure status for fresh disbursements, potentially increasing risk weights. Existing projects in dropped sub-sectors are grandfathered, but NBFCs need to monitor and reclassify new advances carefully.
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 credit policies and loan classification systems to reflect the revised infrastructure sub-sector list from the annex.
Identify all existing exposures to sub-sectors removed from the list and ensure they continue to receive infrastructure benefits only until project completion.
Train credit and risk teams on the new definition to avoid misclassification of fresh loans from December 28, 2012.
Review and amend any loan documentation or reporting templates that reference the old infrastructure definition.
Who it affects
All NBFCs (deposit-taking and non-deposit-taking), Credit and risk management teams at NBFCs, Compliance and regulatory reporting departments
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 16:44 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).
What happens to our existing loans to sub-sectors that are no longer in the infrastructure list?
Existing exposures to those sub-sectors will continue to be treated as infrastructure lending until the project is completed. However, any fresh lending to those sub-sectors from December 28, 2012, will not qualify as infrastructure lending.
Which sub-sectors are newly included in the infrastructure loan definition?
The revised list includes sub-sectors like urban public transport (excluding rolling stock for road transport), telecommunication towers, three-star or higher hotels outside cities with population over 1 million, common infrastructure for industrial parks/SEZs, fertilizer (capital investment), post-harvest storage, terminal markets, soil-testing labs, cold chain, and cold room facilities.
Does this circular affect our prudential norms compliance?
Yes, the definition of infrastructure loan in the NBFC Prudential Norms Directions, 2007 stands amended. You must align your classification, provisioning, and capital adequacy calculations with the new list to ensure regulatory compliance.
📜 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)
RBI’s words: “Official withdrawal register entry #1186: Notification no. DNBS.253/CGM(CRS)-2012 — "Notification on Definition of 'Infrastructure Loan' of NBFCs - Harmonisation" dated December 28, 2012”
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/351
DNBS.PD.CC.No. 317/03.10.001/2012-13
December 28, 2012
All NBFCs
Dear Sir/Madam,
Definition of 'Infrastructure Loan' of NBFCs - Harmonisation
Please refer to RBI’s circular DBOD.No.BP.BC.58/ 08.12.014/2012-13 dated November 20, 2012 on ‘Second Quarter Review of Monetary Policy 2012-13 – Definition of Infrastructure Lending' in terms of which the definition of ‘infrastructure lending for the purpose of financing of infrastructure by the banks and Financial Institutions’ has been harmonized with that of the Master List of Infrastructure sub-sectors’ notified by the Government of India on March 27, 2012. It has been decided to harmonise the definition of infrastructure lending for NBFCs with that of banks.
2. Accordingly, the extant definition of infrastructure loan given in the NBFC Prudential Norms Directions, 2007 stands amended with immediate effect. The revised definition of ‘infrastructure loan’ is given in the Annex to this circular. Also please find enclosed the amending notification of date for meticulous compliance.
3. The exposure of NBFCs to projects under sub-sectors which were included under our previous definition of infrastructure, but not included under the revised definition, will continue to get the benefits under ‘infrastructure lending’ for such exposures till the completion of the projects. However, any fresh lending to those sub-sectors from the date of this circular will not qualify as ‘infrastructure lending’.
Yours faithfully,
(C.R.Samyuktha)
Chief General Manager
Annex
List of sub-sectors for ‘Infrastructure Loan’
“Infrastructure loan” means a credit facility extended by NBFCs to a borrower for exposure in the following infrastructure sub-sectors:
Sl.No.
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/351 · issued 28 Dec 2012. The plain-English explanation above is BankPulse’s own independent summary.
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
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=7778&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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