RBI Updates MNBC Directions 1977 as of June 30, 2013
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2013-14/40 · issued 01 Jul 2013 · ~2 min read
Quick answerRBI issued a consolidated version of the Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977, updated to June 30, 2013. This replaces all earlier amendments and provides a single reference for deposit acceptance, reporting, and compliance rules for MNBCs.
What changed
RBI issued a circular enclosing the updated Notification No.DNBC.39/DG(H)-77 dated 20th June 1977, as amended up to June 30, 2013. The updated text consolidates all amendments to the 1977 Directions. The 1973 Directions were superseded by the original 1977 Directions, not by this update.
What it means for you
Miscellaneous Non-Banking Companies must now refer to this consolidated version for all compliance requirements, including deposit acceptance limits, application forms, receipts, registers, and reporting. The update ensures clarity and reduces the risk of missing any prior amendments. Banks dealing with MNBCs should verify that their counterparties are following the latest rules.
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
Download and review the updated MNBC Directions 1977 from the RBI website or the circular enclosure.
Update internal compliance checklists and training materials to reflect the consolidated version.
Advise MNBC clients or counterparties to align their deposit acceptance and reporting practices with the updated directions.
Ensure any references to the 1973 Directions are replaced with the 1977 Directions as amended.
Who it affects
Miscellaneous Non-Banking Companies (MNBCs), Banks with MNBC clients or deposit relationships, RBI supervision teams monitoring NBFC compliance
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-18 14:20 IST
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 is the effective date of the updated Directions?
The original Directions came into force on July 1, 1977. This circular consolidates amendments up to June 30, 2013, but does not change the effective date of the Directions themselves.
Do these Directions apply to all MNBCs in India?
Yes, they apply to every financial institution that is a company and carries on specified types of business, including collecting contributions or subscriptions for savings or prize schemes, in any place in India.
Where can I find the full updated text?
The updated notification is enclosed with this circular and also placed on the RBI website at www.rbi.org.in.
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/40
DNBS (PD) CC No.338/03.02.001/2013-14
July 1, 2013
To
The Chairman/CEOs of all Miscellaneous Non-Banking Companies
Dear Sirs,
Notification as amended upto June 30, 2013 – “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, 2013 is enclosed. 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/2013-14/40 · issued 01 Jul 2013. 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=8164&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.
Help us keep this accurate
Found an inaccuracy or have an improvement? Tell us. Every report is reviewed by our team before any change is made — nothing goes live unverified.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
BANKPULSE · FREE DAILY BRIEF
Get RBI updates for your role
Every important RBI update, decoded in plain English — for your career, exams & financial awareness.
We collect only your email, name and role, used solely to send your brief — never sold or shared. Withdraw anytime via the unsubscribe link in any email. Independent platform, not affiliated with the RBI. Information, not legal advice.
REPORT AN ERROR · BETA
Spotted an error? Earn 500 BankPulse Credits
Help us stay accurate. If your correction is verified true and approved by our founder, you earn 500 BankPulse Credits — redeemable when the platform monetises.
Reviewed by a human before any credit is awarded. We never change the site from crowd input without verification.
WANT A NEW FEATURE · BETA
What would make BankPulse more useful for you?
Tell us what to build next — a tool, a data view, a role page, anything. We read every suggestion.
Thank you — your ideas directly shape what we build.