The Reserve Bank of India (RBI) on October 11, 2024, issued updated version of Master Direction – Reserve Bank of India (Non-Banking Financial Company– Scale Based Regulation) Directions, 2023.
These directions supersede the 2016 regulations for both systemically and non-systemically important NBFCs, including deposit-taking companies. Issued under the RBI Act, 1934, and the Factoring Regulation Act, 2011, the directions aim to ensure that NBFC operations are conducted in a manner that protects the interests of investors, depositors, and the financial system as a whole.
[Notification No. RBI/DoR/2023-24/106]
