New NBFC Regulations: A ready reckoner guide
-Team Finserv | finserv@vinodkothari.com
From 28th Nov 2025, all RBI regulated entities are governed by a completely new set of regulations.
We provide a complete comparative snapshot of the familiar old regulations and the new avatars. We have also shortlisted the changes, if any, as also commented for your comfort where there are no changes from the earlier regime.
Actionables: While there are rarely any significant substantive changes, however, REs may, at an early date, bring this major rewriting exercise to the knowledge of their boards, and proceed to make consequential changes in policies, SOPs, etc.
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a. Old Rules, New Book: RBI consolidates Regulatory Framework
There is no para 32C as mentioned at point no .13 in change column of article in sbr as per rbi
Para 32C of the SBR Directions has been consolidated with RBI (Non-Banking Financial Companies – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 and RBI (Non-Banking Financial Companies – Undertaking of Financial Services) Directions, 2025. The same is mentioned under Column ‘Existing directions that have been consolidated’.
There is no para 32X as mentioned at point no .13 of article in sbr as per rbi
Para 32X of the SBR Directions has been consolidated with RBI (Non-Banking Financial Companies – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 and RBI (Non-Banking Financial Companies – Undertaking of Financial Services) Directions, 2025. The same is mentioned under Column ‘Existing directions that have been consolidated’.