The Reserve Bank of India has started issuing Master Directions on all regulatory matters beginning January 2016. The Master Directions consolidate instructions on rules and regulations framed by the Reserve Bank under various Acts including banking issues and foreign exchange transactions. The process of issuing Master Directions involves issuing one Master Direction for each subject matter covering all instructions on that subject. 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. All the changes will get reflected in the Master Directions available on the RBI website along with the dates on which changes are made. 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. The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.

Non-banking
Oct 19, 2023
Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 (Updated as on March 21, 2024)	3291 kb
Sep 21, 2023
Master Direction - Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023	2554 kb
Feb 17, 2021
Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 (Updated as on March 21, 2024)	2433 kb
Oct 25, 2018
Master Direction - Fit and Proper Criteria for Sponsors - Asset Reconstruction Companies (Reserve Bank) Directions, 2018	146 kb
Oct 04, 2017
Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (Updated as on December 29, 2022)	610 kb
Jun 08, 2017
Master Direction - Information Technology Framework for the NBFC Sector	254 kb
Nov 10, 2016
Master Directions - Mortgage Guarantee Companies (Reserve Bank) Directions, 2016 (Updated as on April 04, 2024)	351 kb
Sep 29, 2016
Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016	148 kb
Master Direction - Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016	160 kb
Master Direction - Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016	236 kb
Sep 02, 2016
Master Direction - Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 (Updated as on February 22, 2024)	925 kb
Sep 01, 2016
Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016	4192 kb
Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016	5296 kb
Aug 25, 2016
Master Direction - Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016 (Updated as on October 10, 2023)	372 kb
Master Direction - Core Investment Companies (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022)	795 kb
Master Direction - Exemptions from the provisions of RBI Act, 1934 (Updated as on April 01, 2022)	170 kb
Master Direction - Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 2016	97 kb
Master Direction - Standalone Primary Dealers (Reserve Bank) Directions, 2016 (Updated as on April 04, 2024)	1690 kb
Master Direction - Residuary Non-Banking Companies (Reserve Bank) Directions, 2016 (Updated as on February 22, 2019)	385 kb