RBI further updates Master Direction on Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 as on 2018-03-01

Mar 01, 2018 | by Avantis RegTech Legal Research Team

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The Reserve Bank of India has further updated Master Direction on Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. The provisions of the Directions shall apply to the following:

(i)          Every Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-SI) registered with the Bank under the provisions of RBI Act, 1934;

(ii)        Every Deposit taking Non-Banking Financial Company (NBFC-D) registered with the Bank under the provisions of RBI Act, 1934;

(iii)      Every NBFC-Factor registered with the Bank under section 3 of the Factoring Regulation Act, 2011 and having an asset size of  Rs.500 crore and above;

(iv)       Every Infrastructure Debt Fund – Non-Banking Finance Company (IDF-NBFC) registered with the Bank under the provisions of RBI Act, 1934;

(v)         Every Non-Banking Finance CompanyMicro Finance Institutions (NBFC-MFIs) registered with the Bank under the provisions of RBI Act, 1934 and having an asset size of Rs. 500 crore and above;

(vi)       Every Non-Banking Finance Company - Infrastructure Finance Company (NBFCIFC) registered with the Bank under the provisions of RBI Act, 1934 and having an asset size of Rs. 500 crore and above.

(vii)     The Category of NBFCs as mentioned at points (i) to (vi) above are hereafter referred to as ‘applicable NBFCs’, for the purpose of these Directions. Specific directions applicable to specific categories of NBFCs registered as NBFC-Factors, IDF-NBFCs and NBFC-MFIs are as provided for under respective Chapters in these Directions.

[RBI/DNBR/2016-17/45 Master Direction DNBR. PD. 008/03.10.119/2016-17]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/45MD01092016B52D6E12D49F411DB63F67F2344A4E09.PDF


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