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NBFC Directions Amended: AgriSURE Fund Added to Annex I

Current · Source: Reserve Bank of India · RBI/2026-27/17 · issued 27 Apr 2026 · ~2 min read
Quick answerRBI has added 'AgriSURE - Agri Fund for Start Ups & Rural Enterprises' to Annex I of the NBFC (Undertaking of Financial Services) Directions, 2025, effective immediately. This expands the list of eligible funds for NBFCs.
The rule, in the simplest words
How it plays out — a real example

Rohit, a credit officer at a Mumbai‑based NBFC, reads the circular, adds AgriSURE to the compliance manual, reviews a pending loan to an agri‑tech start‑up that will invest in the fund, and informs his team that the loan now meets RBI rules.

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

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

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

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.

📜 This document’s life story (5 recorded events, each backed by RBI’s own words)
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Amends RBI Mandates Prior Approval for NBFC Control Changes
Amends Revised FLA Return Format & E-filing Effective Immediately
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Amends RBI Amends KYC Master Direction: Key Changes Effective Immediately
📜 Read the original circular — full text as issued by RBI
RBI/2026-27/17 DOR.STR.REC.22/21-04-048/2026-27 April 27, 2026 Reserve Bank of India (Non-Banking Financial Companies– Undertaking of Financial Services) –Amendment Directions, 2026 Please refer to Reserve Bank of India (Non-Banking Financial Companies– Undertaking of Financial Services) Directions, 2025 (hereinafter referred to as ‘the Directions’). 2. On a review, and in exercise of the powers conferred by the Sections 45JA, Section 45K, 45L, and 45M of the Reserve Bank of India Act, 1934, Section 3 read with Section 31A and Section 6 of Factoring Regulation Act, 2011 and Section 30, 30A, 32 and 33 of NHB Act, the Reserve Bank being satisfied that it is necessary and expedient in the public interest so to do, hereby issues the Amendment Directions hereinafter specified. 3. The Amendment Directions modifies the Directions as under: (1) Following shall be added to Annex I: “2. AgriSURE - Agri Fund for Start Ups & Rural Enterprises” 4. The above amendment shall come into force with immediate effect. (Vaibhav Chaturvedi) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2026-27/17 · issued 27 Apr 2026. The plain-English explanation above is BankPulse’s own independent summary.
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Related circulars · Department of Regulation
CRR Exemption on Select Liabilities from April 2007RBI Mandates Prior Approval for NBFC Control ChangesRevised FLA Return Format & E-filing Effective ImmediatelySFB Pillar 3 Disclosure Norms Aligned with BaselUCB Deposit Rate Disclosure & Uniformity Rules Updated
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Who does what — compliance checklist
💻 IT / Systems
  • Train compliance and credit teams on the expanded scope of eligible financial services.
📜 Compliance
  • 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.
  • Monitor RBI's website for any further clarifications or related circulars on this amendment.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (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), your first concrete step on “NBFC Directions Amended: AgriSURE Fund Added to Annex I” is: “Update your internal NBFC compliance manual to include AgriSURE in Annex I of the Directions.” (RBI issued this 27 Apr 2026).

  1. Circular: RBI/2026-27/17 -- NBFC Directions Amended: AgriSURE Fund Added to Annex I
  2. Issued: 27 Apr 2026
  3. Action required: Update your internal NBFC compliance manual to include AgriSURE in Annex I of the Directions.
  4. Action required: Review any existing or planned investments in agri/rural funds to ensure alignment with the amended list.
  5. Action required: Train compliance and credit teams on the expanded scope of eligible financial services.
  6. Action required: Monitor RBI's website for any further clarifications or related circulars on this amendment.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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BankPulse Compliance Evidence Pack — generated 02 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=13379&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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