The Reserve Bank of India (RBI) on June 30, 2026, notified regarding the exemption for certain NBFCs from registration and statutory reserve requirements
It has exempted NBFCs that do not avail public funds and do not have any customer interface from the applicability of Sections 45IA (registration with RBI) and 45IC (creation of reserve fund) of the Reserve Bank of India Act, 1934. To qualify, the NBFC shall operate without public funds and customer interface as a long-term business model, have an asset size below ₹1,000 crore as per its last audited balance sheet, pass an annual Board resolution confirming these conditions at the beginning of each financial year, and disclose in its financial statements that it is an 'Unregistered Type I NBFC' along with its status regarding public funds and customer interface.
The notification adopts definitions from the RBI (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025, and comes into effect from July 01, 2026.
[Notification no. - DoR.FIN.67/03.10.001/2026-27]
