The criteria for identification of NBFCs in the Upper Layer and placement of Government owned NBFCs in various layers as per Scale Based Regulatory (SBR) Framework for NBFCs is outlined under the Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025. The Reserve Bank has reviewed these provisions under the SBR Framework.

Accordingly, the draft ‘Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Second Amendment Directions, 2026’ have been issued for public comments.

Additional comments or any attachments may also be submitted over by feedbacksignbfc-1@rbi.org.in.

Last date for submission of comments is May 04, 2026.

Draft Amendment Directions