NBFC Regulations
Every RBI rule that touches NBFC Regulations, simplified for bankers. 63 current circulars.
Status from our nightly regulatory-lineage check. Only circulars with no recorded withdrawal appear below — always confirm current applicability against the official RBI source linked on each circular.
Latest circulars in this cluster
Bank Credit Growth Surges to 18.3% in June 2026
Non-food bank credit grew 18.3% y-o-y in June 2026, up from 9.3% a year ago. Industry and services led the surge, while
RBI Consolidates Supervisory Directions into 64 Master Directions
RBI has consolidated 628 supervisory circulars into 64 Master Directions across 11 regulated entities, effective July 31
Non-Food Bank Credit Growth at 17.4% as of May 31, 2026
Non-food bank credit grew 17.4% YoY as of May 31, 2026, up from 8.8% a year ago. Industry and services led the surge, wi
Revised Application Form for Voluntary Surrender of NBFC CoR
RBI has revised the application form and checklist for NBFCs (including HFCs) voluntarily surrendering their Certificate
FSR June 2026: Indian Financial System Resilient Amid Global Risks
India's financial system remains resilient per the June 2026 FSR, with strong bank and NBFC balance sheets, improved ass
Annual NBS-7 Return Mandate for NBFC-ND-SI
Systemically Important NBFCs (assets size of Rs 100 crore and above) must file an annual statement of capital funds and
UAPA Section 51A: UNSC Sanctions List Updated – One Entry Amended
RBI directs all regulated entities to update their records per UNSC's July 8, 2026 amendment to the ISIL/Al-Qaida sancti
NBFC Income Recognition on Acquired Assets: New RBI Rules
RBI bars NBFCs from booking past unpaid interest on acquired specified non-financial assets as income. Such income must
NBFC-UL Governance Exemption for Government-Owned Entities
RBI exempts fully government-owned and controlled NBFCs in the Upper Layer from provisions after paragraph 43 of the Nov
RBI Finalises Master Direction – Credit Derivatives Directions, 2026
RBI has issued final Master Directions on Credit Derivatives, effective June 25, 2026, covering OTC and exchange-traded
RBI Drafts Model Risk Management Guidance for All Regulated Entities
RBI released draft guidance on model risk management, covering all models including AI/ML and third-party ones. It appli
RBI Tightens Agency and Referral Rules for Small Finance Banks
RBI has amended the Small Finance Banks (Undertaking of Financial Services) Directions, 2025, effective January 1, 2027.
RBI Cracks Down on Excessive NBFC Interest Rates
RBI warns NBFCs against charging excessive interest or fees, urging boards to set internal rate-setting policies aligned
NBFCs Must Report OTC Corporate Bond Trades on FIMMDA Platform
From September 1, 2007, all NBFCs must report their secondary market OTC corporate bond trades on FIMMDA's reporting pla
NBFCs Must Hand Over Full Loan Agreement Copies
RBI mandates NBFCs to provide borrowers with a copy of the loan agreement and all enclosures at sanction/disbursement. T
NBFCs Must Comply with National Do Not Call Registry Rules
RBI mandates NBFCs to ensure their telemarketers (DSAs/DMAs) are registered with DoT under the NDNC framework. NBFCs mus
RBI clarifies DTA/DTL treatment for NBFC capital adequacy
RBI directs NBFCs to deduct deferred tax assets (DTA) from Tier I capital and exclude deferred tax liabilities (DTL) fro
Half-Yearly FDI Compliance Certificate for NBFCs
NBFCs with FDI must submit a half-yearly certificate from their Statutory Auditors confirming compliance with minimum ca
RBI Creates New NBFC Category: Infrastructure Finance Companies
RBI has introduced a fourth NBFC category—Infrastructure Finance Companies (IFCs)—for non-deposit-taking NBFCs with at l
NBFCs must get RBI NoC before overseas investments
RBI mandates all NBFCs to obtain a 'No Objection' certificate from the Department of Non-Banking Supervision before maki
NBFCs barred from anonymous client accounts via intermediaries
RBI has tightened KYC/AML norms for NBFCs: professional intermediaries (lawyers, CAs) bound by client confidentiality ca
NBFCs: Bullion Dealers & Jewelers Now High-Risk KYC Accounts
RBI mandates NBFCs to classify bullion dealers and jewelers as high-risk customers, requiring enhanced due diligence and
NBFC Auditor's Report Directions 2008 (Updated as on June 30, 2011)
RBI consolidated the 2008 NBFC Auditor's Report Directions as updated on June 30, 2011. Auditors must submit an addition
NBFC Prudential Norms 2007 Updated as on June 30, 2011
RBI consolidated all prudential norms for deposit-taking NBFCs and RNBCs into one updated notification as of June 30, 20
RBI Master Circular on NBFC Fraud Monitoring (2012)
RBI consolidated fraud reporting norms for deposit-taking NBFCs and large NBFCs-ND-SI (asset size ≥₹100 crore). Mandates
RBI extends UCIC deadline for NBFCs to March 2014
RBI has extended the deadline for NBFCs to assign a Unique Customer Identification Code (UCIC) to existing individual cu
NBFCs must use only TRAI-registered telemarketers
RBI reiterates that NBFCs and RNBCs must engage only telemarketers registered with TRAI for promotional calls, following
NBFC-MFI Pricing of Credit: New Interest Rate Cap
RBI caps NBFC-MFI lending rates at the lower of cost-plus-margin or 2.75 times the average base rate of the five largest
NBFCs must round off all transactions to nearest rupee
RBI mandates NBFCs to round off all transactions, including interest payments and charges, to the nearest rupee. Fractio
RBI Revamps HFC Regulatory Framework: Key Changes
RBI has issued a revised regulatory framework for Housing Finance Companies (HFCs), effective October 22, 2020. Key chan
RBI's New Dividend Rules for NBFCs: Key Guidelines
RBI has issued a circular prescribing uniform dividend distribution guidelines for all NBFCs, effective for dividends fr
Large Exposures Framework for NBFC-UL
RBI has issued a Large Exposures Framework for NBFCs in the Upper Layer, defining exposure limits, grouping of connected
SBR: NBFC-UL CET1 Capital Requirements
NBFCs in the Upper Layer must now maintain a Common Equity Tier 1 (CET1) ratio of at least 9% of Risk Weighted Assets, w
NBFC Lending Restrictions: SBR Guidelines Effective Oct 2022
RBI has issued detailed lending restrictions for NBFCs under the Scale Based Regulation framework, effective October 1,
NBFC KMP & Senior Management Compensation Guidelines
RBI issued final guidelines on compensation for NBFC KMPs and senior management, effective April 1, 2023. These apply to
RBI mandates differential standard asset provisioning for NBFC-UL
NBFCs in the Upper Layer must now hold graded provisions on standard assets: 0.25% for home loans and SME loans, 2% for
NBFC Regulations Update
RBI updates regulations for non-banking financial companies
RBI's New P2P Lending Rules: NBFC-P2P Directions 2025
RBI issued comprehensive NBFC-P2P Lending Platform Directions 2025, effective the day they are placed on the RBI website
RBI Issues Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025
RBI issues the Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025, cove
RBI Tightens NBFC Credit Reporting Timelines and CKYC Norms
RBI has amended NBFC credit information reporting directions, effective July 1, 2026. Key changes: weekly data submissio
RBI eases concentration norms for high-quality infra projects
RBI has amended concentration risk directions for NBFCs, allowing certain infrastructure loans to be classified as 'high
NBFC Capital Adequacy: New Risk Weights for High-Quality Infrastructure Loans
RBI has amended NBFC capital adequacy norms, introducing lower risk weights (75% and 50%) for loans to high-quality infr
NBFC Credit Risk Management: Related Party Lending Rules Tightened (Amendment Directions, 2026)
RBI has amended NBFC Credit Risk Management Directions, 2025 via Amendment Directions, 2026, introducing stricter defini
NBFC Capital Adequacy: Revised Treatment of Quarterly Profits
The RBI has amended the NBFC capital adequacy directions to clarify that free reserves now include quarterly profits, pr
RBI Allows DLG in ECL Provisioning for NBFCs
RBI now permits NBFCs to factor Default Loss Guarantee (DLG) into Expected Credit Loss (ECL) provisions for digital lend
RBI Amends NBFC Credit Facilities Directions, 2026
RBI has amended the NBFC Credit Facilities Directions to align asset classification and provisioning requirements with t
RBI Amends Concentration Risk Management Directions for NBFCs (Second Amendment, 2026)
RBI amends concentration risk management directions for NBFCs to review Tier 1 capital definition and introduce external
NBFC Branch Authorisation Amendment 2026: Operational Flexibility
RBI has amended NBFC Branch Authorisation Directions 2025 to provide operational flexibility. Most NBFCs can now open br
NBFC Directions Amended: AgriSURE Fund Added to Annex I
RBI has added 'AgriSURE - Agri Fund for Start Ups & Rural Enterprises' to Annex I of the NBFC (Undertaking of Financial
NBFC Stressed Asset Resolution: New IRAC Norms & Provisions
RBI amends NBFC IRAC norms to align with stressed asset resolution directions. Standard accounts under a valid resolutio
RBI Amends NBFC Registration, Exemptions, and Scale-Based Regulation
RBI issues Amendment Directions for NBFCs, introducing new definitions and exemptions for NBFCs not availing public fund
RBI Amends Rules on Financial Ads
RBI issues amendment directions on advertising and sale of financial products by regulated entities, effective January 1
RBI Updates NBFC Rules
RBI issues new directions for NBFCs on responsible business conduct, covering advertising and customer interactions.
NBFC Capital Adequacy Update
RBI has revised NBFC capital adequacy rules, allowing a zero risk weight for up to 75 % of the guaranteed portion of exp
RBI Amends NBFC Directions
RBI amends NBFC directions to revise agency business regulations and customer service aspects.
NBFC Income Recognition on Acquired Assets: New RBI Rules
RBI now bars NBFCs from booking accrued interest on extinguished loans after acquiring specified non-financial assets (S
RBI finalises prudential norms for specified non-financial assets
RBI has issued final prudential norms for Specified Non-Financial Assets (SNFA) acquired by regulated entities, incorpor
MHA designates 23 individuals as terrorists under UAPA
MHA has added 23 individuals to the Fourth Schedule of UAPA, 1967. Banks and NBFCs must report any matching accounts to
May 2026 NBFC Credit Deployment Snapshot
In May 2026, NBFCs expanded credit by 14.2% year‑on‑year, outpacing the 11.4% growth seen a year earlier. Agriculture cr
RBI Amends Directions on Agency Business and Referral Services
RBI amends directions on agency business and referral services for commercial banks, effective January 1, 2027.
RBI Directions on NBFC Acquisition of Shareholding or Control
RBI issues directions for NBFCs to obtain prior approval for acquisition of shareholding or control, with certain exempt
RBI Directions on Climate Finance for NBFCs
RBI issues directions for NBFCs to manage climate change risks and promote green finance, including guidelines for green
RBI Directions for NBFC Internal Ombudsman
RBI issues directions for NBFCs to strengthen internal grievance redress mechanism and ensure speedy resolution of custo
Frequently asked questions
What is the scale-based regulation for NBFCs?
It is a four-layer structure — base, middle, upper and top — where regulatory intensity scales with the NBFC's size, activity and interconnectedness. Upper-layer NBFCs face bank-like requirements on capital, governance and disclosure.
How do NBFC NPA norms compare with banks?
RBI aligned NBFC asset-classification and income-recognition norms more closely with banks, including the treatment of upgrades only after all arrears are cleared. The specific direction is tracked in the cluster below.
Are NBFCs subject to the same conduct rules as banks?
Many fair-practices, digital-lending and grievance-redress principles apply across both, but capital and structural rules differ by layer. Always read the NBFC-specific entry.
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