The Reserve Bank of India has amended its November 2025 Non-Banking Financial Companies Governance Directions following a review of regulations for non-banking financial companies in the Upper Layer under the Scale Based Regulatory Framework. The amendment inserts a proviso after paragraph 43 stating that the relevant provisions will not apply to NBFC-UL entities that are fully owned and controlled by the government. The amendment takes effect from the date of issuance.
Reserve Bank of India2026-06-24
Reserve Bank of India amends NBFC governance directions to exempt fully government owned and controlled upper layer NBFCs from relevant provisions
The Reserve Bank of India has amended its NBFC governance directions after reviewing rules for upper layer NBFCs under the Scale Based Regulatory Framework. The change exempts NBFC-UL entities that are fully owned and controlled by the government from the relevant provisions and takes effect immediately.