The Reserve Bank of India (RBI) on June 05, 2024, issued an update on the Master Direction on the Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023.
The following has been stated namely: -
• This is in exercise of the powers conferred under sections 45JA, 45K, 45L, and 45M of the Reserve Bank of India Act, 1934 (Act 2 of 1934) and section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011 (Act 12 of 2012).
• This is issued to every NBFC, in supersession of the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 and Non-Banking Financial Company–Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016,
[Notification No. RBI/DoR/2023-24/106]
