The Reserve Bank of India has started issuing Master Directions on all regulatory matters beginning January 2016. The Master Directions consolidate instructions on rules and regulations framed by the Reserve Bank under various Acts including banking issues and foreign exchange transactions. The process of issuing Master Directions involves issuing one Master Direction for each subject matter covering all instructions on that subject. Any change in the rules, regulation or policy is communicated during the year by way of circulars/press releases. The Master Directions will be updated suitably and simultaneously whenever there is a change in the rules/regulations or there is a change in the policy. All the changes will get reflected in the Master Directions available on the RBI website along with the dates on which changes are made. Explanations of rules and regulations will be issued by way of Frequently Asked Questions (FAQs) after issue of the Master Directions in easy to understand language wherever necessary. The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.

Non-Banking Financial Companies
Jul 31, 2026
Reserve Bank of India (Non-Banking Financial Companies - Auditor’s Report) Directions, 2026	600 kb
Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Supervisory Directions, 2026	332 kb
Reserve Bank of India (Non-Banking Financial Companies - Supervisory Returns) Directions, 2026	761 kb
Reserve Bank of India (Non-Banking Financial Companies - Statutory Audit) Directions, 2026	942 kb
Reserve Bank of India (Non-Banking Financial Companies - Internal Audit Function) Directions, 2026	753 kb
Reserve Bank of India (Non-Banking Financial Companies– Fraud Risk Management) Directions, 2026	1077 kb
Reserve Bank of India (Non-Banking Financial Companies – Digital Payment Security Controls) Directions, 2026	414 kb
Reserve Bank of India (Non-Banking Financial Companies – Cybersecurity, Technology: Risk, Resilience and Assurance Framework) Directions, 2026	541 kb
Reserve Bank of India (Non-Banking Financial Companies - Compliance Function) Directions, 2026	747 kb