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NBFC Public Deposit Rules: Consolidated Directions 2013

No longer current — withdrawn, no replacement on file yet

Source: Reserve Bank of India · RBI/2013-14/33 · issued 01 Jul 2013 · ~1 min read

Quick answerRBI consolidated the 1998 NBFC Public Deposit Directions as of June 30, 2013, into a single updated notification. This replaces earlier versions and provides one reference for all current rules on deposit acceptance, interest rates, and compliance for NBFCs.

What changed

RBI issued a consolidated version of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, updated as on June 30, 2013 (though the subject line references amendments up to June 30, 2012). The notification supersedes the earlier January 2, 1998 directions and serves as a single reference document for NBFCs.

What it means for you

NBFCs must now refer to this consolidated notification for all current rules on public deposit acceptance, including restrictions, interest rate ceilings, and reporting requirements. It ensures compliance with the latest regulatory framework and reduces ambiguity from multiple circulars.

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

Review the consolidated NBFC Public Deposit Directions 1998 as updated to June 30, 2013, and align your deposit acceptance policies accordingly.
Ensure your NBFC's deposit solicitation, interest rates, and brokerage practices comply with the updated directions.
Update internal compliance manuals and training materials to reference this single consolidated notification.
Verify that all returns and certificates submitted to RBI reflect the latest requirements under these directions.

Who it affects

All Non-Banking Financial Companies (except Residuary Non-Banking Companies and Miscellaneous Non-Banking Companies)

❓ Common questions

Regulatory timeline

Decoded by BankPulse 2026-06-18 14:28 IST
Status change: withdrawn 03 Aug 2026, 04:00 IST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 notification introduce new rules for NBFC deposits?

No, it consolidates existing rules from the 1998 Directions as amended up to June 30, 2013, into one document for easier reference.

Which NBFCs are exempt from these directions?

Residuary Non-Banking Companies and Miscellaneous Non-Banking Companies are not covered by this notification.

Where can I find the full updated notification?

The notification is available on the RBI website at http://www.rbi.org.in.

📜 Read the original circular — full text as issued by RBI

RBI/2013-14/33
 DNBS (PD) CC No 331/03.02.001/2013-14
 July 1, 2013
 To
 The Chairman/CEOs of all Non-Banking Financial Companies (except Residuary Non-Banking Companies and Miscellaneous Non-Banking Companies)
 Dear Sirs,
 Notification as amended upto June 30, 2012 – “Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998”
 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.DFC.118/DG (SPT)-98 dated January 31, 1998 updated as on June 30, 2013 are reproduced below. The updated Notification has also been placed on the RBI web-site ( http://www.rbi.org.in ).
 Yours faithfully,
 (N. S. Vishwanathan)
 Principal Chief General Manager
 Table of Contents
 Para No

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/33 · issued 01 Jul 2013. 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=8150&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.