Date: 2026-02-10Category: Not ApplicableState: Union GovernmentCountry: India
RBI invites public comments on the draft Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026
**Executive Summary**
This press release, dated February 10, 2026, announces that the Reserve Bank of India (RBI) is seeking public comments on draft Amendment Directions related to the Scale Based Regulation (SBR) framework for Non-Banking Financial Companies (NBFCs). These directions focus on registration exemptions for eligible NBFCs not availing public funds and without customer interface. Feedback must be submitted by March 4, 2026.
**Key Points / Main Content**
* **Background and Objective:**
* The Scale Based Regulatory Framework (SBR) for NBFCs acknowledges that those not availing public funds and without customer interface present a different risk profile.
* The RBI decided to issue separate regulations for these NBFCs, placing them in the Base Layer of the regulatory structure under the SBR Framework with relaxed regulatory requirements.
* **Exemption Criteria:**
* NBFCs not availing public funds and without customer interface, with asset size below ₹1000 crore, will be exempted from RBI registration, subject to specified conditions.
* **Amendment Directions:**
* The draft Amendment Directions include:
* Conditions for the aforementioned exemption.
* Procedure for deregistration or conversion for existing NBFCs not availing public funds and without customer interface, including Type I NBFCs.
* Other related aspects.
* **Additional Resources:**
* A set of FAQs has been released to help stakeholders understand the amendments and regulatory intent.
* **Feedback Submission:**
* Comments/feedback are invited from NBFCs, the public, and other stakeholders.
* Submissions can be made via the 'Connect 2 Regulate' link on the RBI website or by email.
* Email submissions should have the subject line: ‘Feedback on the draft 'Reserve Bank of India (Non-Banking Financial Companies - Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026'.
* **Deadline:**
* The deadline for submitting comments/feedback is March 04, 2026.
**Impact Analysis**
**Stakeholder: NBFCs**
* **Impact:**
* Eligible NBFCs stand to benefit from exemption from registration requirements and relaxed regulatory requirements.
* Existing NBFCs may need to deregister or convert depending on their business model and compliance.
* **Action Required:**
* Review the draft Amendment Directions and FAQs to understand the implications.
* Provide comments/feedback to the RBI by the specified deadline if necessary.
* Assess eligibility for registration exemption.
* If applicable, prepare for deregistration or conversion.
**Stakeholder: Members of the Public and Other Stakeholders**
* **Impact:**
* Potential changes in the regulatory landscape for NBFCs may impact financial services and investments.
* **Action Required:**
* Review the draft Amendment Directions and FAQs.
* Provide comments/feedback to the RBI by the specified deadline if necessary.
Key Entities Referenced
Reserve Bank of India: India's central bank and regulatory body responsible for overseeing the financial system.
Scale Based Regulatory Framework (SBR): A regulatory framework for NBFCs, introduced via circular dated October 22, 2021, based on their risk profile.
Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026: Draft directions issued by the RBI regarding registration exemptions and framework for Scale Based Regulation for NBFCs. Public comments are being sought.
Statement on Developmental and Regulatory Policies dated February 06, 2026: Statement from the RBI announcing the issuance of draft Amendment Directions regarding NBFC registration.
NBFCs not availing public funds and not having customer interface: Non-Banking Financial Companies that do not accept public deposits and do not have direct interaction with customers, which are the primary focus of the new regulations.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
February 10, 2026
RBI invites public comments on the draft Reserve Bank of India (Non-Banking
Financial Companies – Registration, Exemptions and Framework for Scale
Based Regulation) Amendment Directions, 2026
The Reserve Bank had announced, as part of the Statement on Developmental
and Regulatory Policies dated February 06, 2026, to issue draft Amendment
Directions for exemption from registration to eligible NBFCs not availing public funds
and not having customer interface (including ‘Type I NBFCs’). Accordingly, the draft
Reserve Bank of India (Non-Banking Financial Companies – Registration,
Exemptions and Framework for Scale Based Regulation) Amendment Directions,
2026 have been issued for public comments.
2. The comments / feedback on the draft Amendment Directions are invited from the
NBFCs, members of public and other stakeholders till March 04, 2026. The
comments / feedback may be submitted through the link under the ‘Connect 2
Regulate’ Section available on RBI’s website or may alternatively be forwarded to:
The Chief General Manager – in - Charge
Department of Regulation (SIG-NBFCs)
Reserve Bank of India
12th Floor, Central Office Building
Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001
Or
by email
With the subject line ‘Feedback on the draft ‘Reserve Bank of India (Non-Banking
Financial Companies – Registration, Exemptions and Framework for Scale Based
Regulation) Amendment Directions, 2026’.
Background and Objective
The Scale Based Regulatory Framework (SBR) for NBFCs introduced vide
circular dated October 22, 2021 states that ‘NBFCs not availing public funds and not
having customer interface’ bear a different risk profile and hence, deserve a
differential regulatory treatment. Accordingly, these NBFCs are placed in the Base
Layer of the regulatory structure under SBR Framework and are subject to relaxed
regulatory requirements. It was also decided that the RBI will come out with separate
regulations for these NBFCs in due course. Accordingly, the RBI has reviewed the
regulatory framework for these ‘NBFCs not availing public funds and not having
customer interface’. Considering their peculiar business model and lower risk profile,
it has been decided that the ‘NBFCs not availing public funds and not having2
customer interface’, with asset size of less than ₹1000 crore, shall be exempted from
registration requirement with the RBI, duly subject to the conditions as specified by
the RBI. The proposed Directions include (a) above-mentioned exemption subject to
the conditions specified, (b) procedure for deregistration or conversion of the existing
‘NBFCs not availing public funds and not having customer interface’, including
NBFCs holding Certificate of Registration as ‘Type I NBFC’, and (c) other related
aspects. A set of FAQs have also been released for the benefit of stakeholders to
comprehend the expectations and regulatory intent of the Amendments.
(Brij Raj)
Press Release: 2025-2026/2084 Chief General Manager