What is the RBI reference number for this direction?

The RBI reference number is RBI/DOR/2025-26/354, issued on November 28, 2025. This direction contains 4 chapters covering: Preliminary, Regulations Applicable for NBFC-BL, Regulations Applicable for NBFC-ML and NBFC-UL, Repeal and Other Provisions.

Prudential Norms#16 of 35

Reserve Bank of India (Non-Banking Financial Companies – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025

RBI Reference

RBI/DOR/2025-26/354

Date of Issue

November 28, 2025

Chapters

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Overview

About This Direction

Governs the classification, valuation, and operation of NBFC investment portfolios. Covers accounting for government securities, corporate bonds, Alternative Investment Funds (AIFs), currency and interest rate futures. Separate provisions for Base Layer vs Middle/Upper Layer NBFCs.

Table of Contents

Chapter-wise Structure

01Preliminary

02Regulations Applicable for NBFC-BL

03Regulations Applicable for NBFC-ML and NBFC-UL

04Repeal and Other Provisions

Source & Attribution: This document is issued by the Reserve Bank of India under reference RBI/DOR/2025-26/354 dated November 28, 2025. It is a public regulatory document reproduced here for informational and compliance purposes. For the authoritative version, please refer to rbi.org.in.

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07Prudential Norms on Capital AdequacyRBI/DOR/2025-26/345 08Acceptance of Public DepositsRBI/DOR/2025-26/346 18Income Recognition, Asset Classification and Provisioning (IRAC)RBI/DOR/2025-26/356 19Resolution of Stressed AssetsRBI/DOR/2025-26/357

Previous Direction

15. Securitisation Transactions

Next Direction

17. Asset Liability Management

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