The Reserve Bank of India (RBI) on November 28, 2025, issued the Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Capital Adequacy) Directions, 2025.
The following has been stated namely: -
• These Directions shall be applicable to the following non-banking financial companies:
o Every Deposit taking NBFC (NBFC-D) registered with the Reserve Bank under the provisions of the RBI Act, 1934.
o Every NBFC-Investment and Credit Company (ICC) registered with the Reserve Bank under the provisions of the RBI Act, 1934.
o Every NBFC-Factor registered with the Reserve Bank under section 3 of the Factoring Regulation Act, 2011 and every NBFC-ICC registered with the Reserve Bank under section 3 of the Factoring Regulation Act, 2011.
o Every NBFC-Infrastructure Finance Company (IFC) registered with the Reserve Bank under the provisions of the RBI Act, 1934.
o Every NBFC - Infrastructure Debt Fund (IDF) registered with the Reserve Bank under the provisions of the RBI Act, 1934.
o NBFC being a Government company as defined under clause (45) of section 2 of the Companies Act, 2013 (Act 18 of 2013).
• The Limits and Minima has been stated in the Directions
• The Elements of Common Equity Tier 1 (CET 1) capital has been stated in the Directions
• The Terms and conditions applicable to Perpetual debt instrument (PDI) for being eligible for inclusion in regulatory capital.
This shall come into force on November 28, 2025
[Notification No. RBI/DOR/2025-26/345]
