MANU/RMIC/0073/2022

Ministry : Reserve Bank of India

Department/Board : Department of Regulation

Circular No. : DOR.CRE.REC.No.25/03.10.001/2022-2023
                   RBI/2022-2023/29

Date : 19.04.2022

All Non-Banking Financial Companies

Madam/ Dear Sir,

Loans and Advances-Regulatory Restrictions-NBFCs

1. In terms of para 3.2.2 (c) and para 3.2.3 (b) & (c) of the circular on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs issued on October 22, 2021, certain regulatory restrictions on lending were introduced in respect of NBFCs placed in different layers. Detailed guidelines in this regard are placed as Annex to this circular.

2. These guidelines shall be effective from October 01, 2022.

Yours faithfully,

(Manoranjan Mishra)
Chief General Manager

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Annex

1. Definitions

For the purpose of this circular:

i) The term "control" shall have the meaning assigned to it under Clause (27) of Section 2 of the Companies Act, 2013.

ii) The term "relative" shall have the meaning assigned to it under Clause (77) of Section 2 of the Companies Act, 2013.........