The Reserve Bank of India (RBI) on November 28, 2025, issued the Reserve Bank of India (Non-Banking Financial Companies – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025.
The following has been stated namely: -
• The provisions of these Directions shall be applicable to Non-Banking Financial Companies excluding Housing Finance Companies (HFCs). Further conditions for applicability is stated in the Directions
• The Regulations applicable for NBFC-BL has been stated in the Directions
• The Regulations applicable for NBFC-ML and NBFC-UL has been stated in the Directions
This shall come into force on November 28, 2025
[Notification No. RBI/DOR/2025-26/354]
