The Reserve Bank of India (RBI) on November 28, 2025, issued the Reserve Bank of India (Non-Banking Financial Companies– Acquisition of Shareholding or Control) Directions, 2025.
The following has been stated namely: -
• The provisions of these Directions shall be applicable to Non-Banking Financial Companies (hereinafter collectively referred to as ‘NBFCs’ and individually as an NBFC), excluding Housing Finance Companies (HFCs).
• An NBFC shall require prior written permission of the Reserve Bank for the following: -
o Any takeover or acquisition of control of the NBFC, which may or may not result in change of management
o Any change in the shareholding of the NBFC, including progressive increases over time, which would result in acquisition/ transfer of shareholding of 26 percent or more of the paid-up equity capital of the NBFC
• The Application process for prior Approval has been stated in the directions.
This shall come into force on November 28, 2025
[Notification No. RBI/DOR/2025-26/340]
