SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Important Websites  
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (92.00 kb ) version to your machine and then use respective software to print the story.
Date: 25/08/2016
RBI issues Master Directions for Non-Banking Financial Companies

The Reserve Bank of India today issued Master Directions on six subjects relating to Non-Banking Financial Companies (NBFCs) under its regulation. These directions consolidate/reorganise instructions issued in various Circulars/Directions/ Notifications/Master Circulars. The six Master Directions replace instructions contained in existing Master Circulars. The subjects on which Master Directions have been issued are:

  1. Exemptions from the provisions of RBI Act, 1934, vide DNBR.PD.001/03.10.119/2016-17

  2. Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016, vide DNBR.PD.002/03.10.119/2016-17

  3. Core Investment Companies (Reserve Bank) Directions, 2016, vide DNBR.PD.003/03.10.119/2016-17

  4. Standalone Primary Dealers (Reserve Bank) Directions, 2016, vide DNBR. PD. 004 /03.10.119/2016-17

  5. Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 2016, vide DNBR.PD.005/03.10.119/2016-17

  6. Residuary Non-Banking Companies (Reserve Bank) Directions, 2016, vide DNBR.PD.006/03.10.119/2016-17

Master Directions on other subjects will follow shortly.

Background

The Reserve Bank of India has started issuing Master Directions on all regulatory matters beginning January 2016 to streamline compliance in pursuance of the decision announced in the Fourth Bi-monthly Monetary Policy Statement, 2015-16 on September 29, 2015. The Master Directions consolidate instructions on rules and regulations framed by the Reserve Bank under various Acts including issues related to non-banking financial companies. Any change in the rules, regulation or policy is communicated during the year by way of circulars/press releases. The Master Directions will be updated suitably and simultaneously whenever there is a change in the rules/regulations or there is a change in the policy. Explanations of rules and regulations will be issued by way of Frequently Asked Questions (FAQs) after issue of the Master Directions in easy to understand language wherever necessary.

Alpana Killawala
Principal Adviser

Press Release : 2016-2017/496
 
  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.