The Reserve Bank of India has amended its Housing Finance Companies Directions, 2025 to replace housing finance company specific rules on advertising, marketing and sales with a requirement to follow the broader conduct framework already issued for non-banking financial companies. From January 1, 2027, housing finance companies must comply with paragraphs 101A to 101ZA of the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025. The change deletes the existing provisions in Chapter X of the housing finance company directions covering advertising, marketing and sales, as well as the code of conduct for direct selling agents and direct marketing agents, and substitutes them with a single cross-reference to the NBFC conduct rules. The Reserve Bank said it had reviewed the existing instructions and decided to issue comprehensive directions on advertising, marketing and sale of financial products and services for all NBFCs, including housing finance companies, but excluding Core Investment Companies, NBFC-Account Aggregators, Non-Operative Financial Holding Companies, and NBFCs without any customer interface.
Reserve Bank of India2026-06-15
Reserve Bank of India shifts housing finance company advertising and sales rules to the NBFC responsible business conduct framework from January 2027
The Reserve Bank of India has amended the housing finance company rulebook to move advertising, marketing and sales requirements into the broader NBFC responsible business conduct framework. Existing HFC-specific provisions, including DSA and DMA conduct rules, will be replaced by a cross-reference to the NBFC directions from January 1, 2027.