What is the RBI reference number for this direction?

The RBI reference number is RBI/DOR/2025-26/353, issued on November 28, 2025. This direction contains 6 chapters covering: Preliminary, General Requirements for Securitisation, Simple, Transparent and Comparable (STC) Securitisations, Provision of Facilities Supporting Securitisation Structures, Requirements for NBFC Investors in Securitisation Exposures, Repeal and Other Provisions.

Risk Management#15 of 35

Reserve Bank of India (Non-Banking Financial Companies – Securitisation Transactions) Directions, 2025

RBI Reference

RBI/DOR/2025-26/353

Date of Issue

November 28, 2025

Chapters

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Overview

About This Direction

Comprehensive framework for securitisation transactions by NBFCs. Covers eligibility criteria, Minimum Retention Requirement (MRR), origination standards, STC securitisation criteria for regulatory capital purposes, credit enhancement and liquidity facilities, and due diligence requirements for NBFC investors.

Table of Contents

Chapter-wise Structure

01Preliminary

02General Requirements for Securitisation

03Simple, Transparent and Comparable (STC) Securitisations

04Provision of Facilities Supporting Securitisation Structures

05Requirements for NBFC Investors in Securitisation Exposures

06Repeal and Other Provisions

Source & Attribution: This document is issued by the Reserve Bank of India under reference RBI/DOR/2025-26/353 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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14. Transfer and Distribution of Credit Risk

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