The Reserve Bank of India (RBI) has further updated the Master Direction on Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 as on May 31, 2018. Vide this update RBI has withdrawn the exemptions granted to the Government owned NBFC’s. On review it has been decided to make the NBFC regulations applicable to Government NBFCs as per the timeline indicated in the Annex-I of the master direction.
Government NBFCs that are already complying with the prudential regulation as per the road map submitted by them shall continue to follow the same.
[RBI/DNBR/2016-17/45 Master Direction DNBR. PD. 008/03.10.119/2016-17]