What changed
The Reserve Bank amended the NBFC (Undertaking of Financial Services) Directions, 2025 by inserting a new entry in Annex I. The new entry is 'AgriSURE - Agri Fund for Start Ups & Rural Enterprises'. This amendment took effect immediately from April 27, 2026, the date of the circular.
What it means for you
NBFCs can now treat investments in or exposures to the AgriSURE fund as part of their eligible financial services under the Directions. This may open new avenues for NBFCs to support agricultural and rural startups, aligning with broader policy goals. Lenders should update their internal classifications and compliance checklists accordingly.
What you must do
- Update your internal NBFC compliance manual to include AgriSURE in Annex I of the Directions.
- Review any existing or planned investments in agri/rural funds to ensure alignment with the amended list.
- Train compliance and credit teams on the expanded scope of eligible financial services.
- Monitor RBI's website for any further clarifications or related circulars on this amendment.
Who it affects
All NBFCs regulated under the RBI Act, 1934, NBFCs engaged in factoring or housing finance under respective Acts, Compliance officers and legal teams of NBFCs, Fund managers of AgriSURE and similar agri-rural funds
What is the AgriSURE fund mentioned in the amendment?
AgriSURE stands for 'Agri Fund for Start Ups & Rural Enterprises'. It is a fund added to Annex I of the NBFC Directions, meaning NBFCs can now consider it as part of their permissible financial services.
Does this amendment require any filing or approval from RBI?
The notification states the amendment is effective immediately. NBFCs should update their internal records but no separate filing is mentioned in the circular.
Which NBFCs are affected by this change?
All NBFCs governed by the Reserve Bank of India (Non-Banking Financial Companies– Undertaking of Financial Services) Directions, 2025, including those under the Factoring Regulation Act and NHB Act.