The Reserve Bank of India (RBI), on July 31, 2026, issued the Reserve Bank of India (All India Financial Institutions – Miscellaneous) Supervisory Directions, 2026, applicable to All India Financial Institutions (AIFIs), namely EXIM Bank, NABARD, SIDBI, NHB, and NaBFID. The Directions, which came into effect immediately, consolidate supervisory requirements relating to statutory audit certifications, compliance monitoring, vigilance reporting, and forensic scrutiny.
The Directions require AIFIs to obtain certificates from their Statutory Central Auditors covering treasury operations, investment reconciliation, compliance in investment portfolio management, income recognition, asset classification and provisioning, and authentication of Capital to Risk-weighted Asset Ratio (CRAR) and Capital Adequacy Ratio (CAR). Copies of these certificates are required to be submitted to the Senior Supervisory Manager, Department of Supervision, RBI, upon finalisation of the balance sheet. The Directions also mandate implementation of enterprise-wide, technology-driven compliance monitoring systems with workflow-based processes, issue escalation mechanisms, approval tracking for compliance deviations, and unified compliance dashboards for senior management.
Additionally, the Directions require AIFIs to submit quarterly Vigilance Monitoring Return-I (VMR-I) through the RBI portal, outlining anti-corruption action plans and vigilance statistics. They also direct AIFIs to establish a trained pool of officers with expertise in investigation, data analytics, and forensic analysis for deployment in fraud investigations through dedicated Fraud Investigation Units/Outfits, thereby strengthening supervisory oversight and fraud risk management.
[Notification No. RBI/DoS/2026-27/459]
