What is the RBI reference number for this direction?

The RBI reference number is RBI/DoR/2025-26/372, issued on November 28, 2025. It was last updated as on December 05, 2025. This direction contains 7 chapters covering: Preliminary, Registration, Regulatory Structure and Shareholding, Corporate Governance of NOFHC, Prudential Norms for the NOFHC, Non-Permitted Activities of an NOFHC, Consolidated Supervision, Repeal and Other Provisions.

Specialised NBFCs#34 of 35

Reserve Bank of India (Non-Operative Financial Holding Company) Directions, 2025

RBI Reference

RBI/DoR/2025-26/372

Date of Issue

November 28, 2025

Last Updated

December 05, 2025

Chapters

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Overview

About This Direction

Governs Non-Operative Financial Holding Companies (NOFHCs) — entities set up as holding structures for financial conglomerates. Covers registration, regulatory structure, shareholding requirements, corporate governance, prudential norms (standalone and consolidated basis), exposure norms, non-permitted activities, and consolidated supervision framework.

Table of Contents

Chapter-wise Structure

01Preliminary

02Registration, Regulatory Structure and Shareholding

03Corporate Governance of NOFHC

04Prudential Norms for the NOFHC

05Non-Permitted Activities of an NOFHC

06Consolidated Supervision

07Repeal and Other Provisions

Source & Attribution: This document is issued by the Reserve Bank of India under reference RBI/DoR/2025-26/372 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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