What is the RBI reference number for this direction?

The RBI reference number is RBI/DOR/2025-26/371, issued on November 28, 2025. This direction contains 8 chapters covering: Preliminary, Role of Board of Directors and Registration Requirements, Qualifying Assets and Permissible Activities, Prudential Regulations, Shareholding and Corporate Governance, Risk Management, Miscellaneous Instructions, Repeal and Other Provisions.

Specialised NBFCs#33 of 35

Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025

RBI Reference

RBI/DOR/2025-26/371

Date of Issue

November 28, 2025

Chapters

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Overview

About This Direction

Regulatory framework for NBFC-Microfinance Institutions (NBFC-MFI). Defines qualifying assets (microfinance loans to households with annual income up to specified limits), permissible activities, prudential norms, pricing guidelines, risk management requirements, and borrower protection measures for microfinance operations.

Table of Contents

Chapter-wise Structure

01Preliminary

02Role of Board of Directors and Registration Requirements

03Qualifying Assets and Permissible Activities

04Prudential Regulations

05Shareholding and Corporate Governance

06Risk Management

07Miscellaneous Instructions

08Repeal and Other Provisions

Source & Attribution: This document is issued by the Reserve Bank of India under reference RBI/DOR/2025-26/371 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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