**Executive Summary**
The Reserve Bank of India (RBI) issued Notification No. DoR.FIN.67/03.10.001/2026-27 on June 23, 2026, exempting specific Non-Banking Financial Companies (NBFCs) from the provisions of Sections 45IA and 45IC of the RBI Act, 1934. This exemption applies to NBFCs that do not avail of public funds and lack customer interface, provided they meet specific asset size and disclosure criteria. The notification is set to come into force on July 1, 2026.
**Key Points / Main Content**
**Scope of Exemption**
* Sections 45IA and 45IC of the Reserve Bank of India Act, 1934, shall not apply to NBFCs that do not utilize public funds and do not maintain any customer interface.
**Eligibility Conditions**
* **Business Model:** The entity must operate without public funds and customer interface as a deliberate, long-term business strategy.
* **Asset Size:** The company’s asset size must be less than ₹1,000 crore, as determined by the most recent audited balance sheet.
* **Board Resolution:** The company must pass a formal Board Resolution at the start of every financial year stating it will not avail of public funds or engage in customer interface during that year.
**Disclosure and Reporting**
* **Financial Statements:** Entities must disclose their status as an "Unregistered Type I NBFC" within the ‘Notes to Accounts’ of their financial statements.
* **Status Clarification:** These disclosures must explicitly confirm the status regarding public funds and customer interface.
**Definitions and Effective Date**
* **Terminology:** Definitions for terms used in this notification are governed by the "Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025," dated November 28, 2025.
* **Implementation:** The provisions of this notification are effective from July 1, 2026.
**Impact Analysis**
**NBFCs (Without Public Funds and Customer Interface)**
**Impact**
These entities are granted relief from specific regulatory requirements under the RBI Act (Sections 45IA and 45IC), categorizing them as 'Unregistered Type I NBFCs' provided they stay below the ₹1,000 crore asset threshold.
**Action Required**
Eligible companies must pass an annual Board Resolution at the beginning of each financial year and include specific mandatory disclosures in the ‘Notes to Accounts’ of their financial statements.
**Reserve Bank of India (Department of Regulation)**
**Impact**
The RBI establishes a clear regulatory boundary for smaller, non-public-facing financial entities, reducing the supervisory burden on companies that do not pose a direct risk to public funds or consumers.
**Action Required**
The RBI will oversee compliance through the modified disclosure requirements and the framework established in the Scale Based Regulation Directions of 2025.
Key Entities Referenced
Reserve Bank of India Act, 1934: The primary legislation under which sections 45IA (registration) and 45IC (reserve fund) are exempted for specific non-banking financial companies.
Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025: The regulatory document referenced for the definitions and interpretive framework applicable to this notification.
Unregistered Type I NBFC: A specific classification for non-banking financial companies with asset sizes below ₹1,000 crore that do not use public funds or have customer interfaces.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-एम.एच.-अ.-30062026-273952
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CG-MH-E-30062026-273952
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 421] िई कदल्ली, मगं लर्ार, ििू 30 , 2026/ आषाढ 9, 1948 ष 22, 1947
No. 421] NEW DELHI, TUESDAY, JUNE 30, 2026/ ASHADHA 9, 1948 s 1947
भारतीय ररज़र् वबकैं
(जर्जियमि जर्भाग)
(केंद्रीय कायालव य)
अजधसचू िा
म ंबई, 23 िूि, 2026
अजधसचू िा स.ंजर्जर्.एफआईएि.67/03.10.001/2026-27.— भारतीय ररज़र् व बैंक अजधजियम, 1934 (1934
का 2) की धारा 45-एिसी के तहत प्रदत्त िजियों का प्रयोग करते हुए, भारतीय ररज़र्व बैंक, इस बात स े संत ष्ट होि े पर कक
ऐसा करिा आर्श्यक ह,ै एतद्द्वारा यह घोषणा करता ह ै कक उि अजधजियम की धारा 45-आईए और 45-आईसी के
प्रार्धाि, जिम्नजलजखत ितों के अधीि, गैर बैंककंग जर्तीय कंपिी ‘िो सार्विजिक जिजधयों का लाभ िहीं उठा रही ह ै और
जिसका कोई ग्राहक इंटरफेस िहीं ह’ै पर लागू िहीं होंगे:
(1) यह जबिा ककसी सार्विजिक जिजध और जबिा ककसी ग्राहक इंटरफेस के काम करता है, िो इसका सोच-समझकर बिाया
गया और लंबे समय का जबज़िसे मॉडल है;
(2) जपछले ऑजडट ककए गए जर्त्तीय जर्र्रणों के अि सार, इसकी आजस्ट्त आकार ₹1,000 करोड़ से कम ह;ै
(3) यह जर्त्तीय र्षव की ि रुआत म ें एक र्ार्षवक बोड व संकल्प पाररत करता ह ै कक यह उस र्षव के दौराि ि तो सार्विजिक
जिजध लगे ा और ि ही इसका कोई ग्राहक इंटरफेस होगा;
4859 GI/2026 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(4) यह अपि े जर्त्तीय जर्र्रणों के 'िोट्स टू अकाउंट्स' में यह िािकारी देता ह ै कक यह एक 'अपंिीकृत टाइप-I गरै बैंककंग
जर्तीय कंपिी’ ह,ै और साथ ही सार्विजिक जिजध और ग्राहक इंटरफेस की जस्ट्थजत के बारे में भी बताता ह।ै
2. इस अजधसूचिा के प्रयोिि के जलए, इसमें प्रयि िब्दों और अजभव्यजियों का र्ही अथव होगा िो उन्ह ें भारतीय ररज़र् व
बैंक (गैर-बैंककंग जर्त्तीय कंपजियााँ – पंिीकरण, छूट और स्ट्केल आधाररत जर्जियमि ढााँचा) जिदेि, 2025, कदिांक 28
िर्ंबर, 2025 में कदया गया ह,ै िैसा कक समय-समय पर संिोजधत ककया गया ह।ै
3. यह अजधसूचिा िल ाई 01, 2026 से लागू होगी।
िे.पी.िमाव, प्रभारी म ख्य महाप्रबंधक
[जर्ज्ञापि-III/4/असा./190/2026-27]
RESERVE BANK OF INDIA
(Department of Regulation)
(CENTRAL OFFICE)
NOTIFICATION
Mumbai, the 23rd June, 2026
Notification No. DoR.FIN.67/03.10.001/2026-27.—In exercise of the powers conferred under
Section 45NC of the Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India, on being
satisfied that it is necessary so to do, hereby declares that the provisions of Sections 45IA and 45IC of the
said Act, shall not apply to an ‘NBFC not availing public funds and not having any customer interface’,
subject to the following conditions:
(1) It operates without public funds and without customer interface, as its conscious and long-term business
model;
(2) Its asset size is less than ₹1,000 crore as per the last audited balance sheet;
(3) It passes an annual Board Resolution at the beginning of the financial year that the company will not
avail public funds and will also not have customer interface during the year; and
(4) It discloses in its Notes to Accounts to the financial statements that it is an ‘Unregistered Type I NBFC’
along with the status of public funds and customer interface.
2. For the purpose of this Notification, the words and expressions used shall have the same meaning as
assigned to them in the Reserve Bank of India (Non-Banking Financial Companies – Registration,
Exemptions and Framework for Scale Based Regulation) Directions, 2025 dated November 28, 2025, as
amended from time to time.
3. This notification shall come into force on the 1st of July, 2026.
J. P. SHARMA, Chief General Manager-in Charge
[ADVT.-III/4/Exty./190/2026-27]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.