MANU/RMIC/0056/2016

Ministry : Reserve Bank of India

Department/Board : Department of Non Banking Regulation

Circular No. : DNBR (PD)CC.No.077/03.10.001/2015-2016
                   RBI/2015-2016/363

Date : 07.04.2016

Notification/ Circulars Referred : Notification No. DNBR. 009 CGM(CDS) - 2015 dated March 27, 2015 MANU/RMIC/0215/2015

Citing Reference:
Notification No. DNBR. 009 CGM(CDS) - 2015 dated March 27, 2015 MANU/RMIC/0215/2015  Referred

All Systemically Important Non- Deposit accepting or Holding
Non-Banking Financial Companies (NBFC-NDSI)

Madam/ Sir,

Applicability of Concentration of Credit/ Investment Norms

In terms of second proviso to sub para (1) of para 24 of the Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015, any non-banking financial company not accessing public funds, either directly or indirectly, or not issuing guarantees may make an application to the Bank for an appropriate dispensation from the concentration of credit/ investment norms.

2. On a review, it has been decided that concentration of credit/ investment norms shall not apply to a systemically important non-banking financial company not accessing public funds in India, either directly or indirectly, and not issuing guarantees.

3. Notification No. DNBR.040/CGM(CDS)-2016 dated April 7, 2016 amending the Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 is enclosed.

Yours faithfully
(C. D. Srinivasan)
Chief General Manager

---

RESERVE BANK OF INDIA

DEPARTMENT OF NON-BANKING REGULATION