What is the RBI reference number for this direction?

The RBI reference number is RBI/DOR/2025-26/366, issued on November 28, 2025. It was last updated as on March 10, 2026. This direction contains 9 chapters covering: Preliminary, Registration, Capital Funds and Capital Requirements, Sources and Application of Funds, Other Prudential Regulations, Governance Issues – Corporate Governance, Miscellaneous Instructions, Reporting Requirements, Repeal and Other Provisions.

Specialised NBFCs#28 of 35

Reserve Bank of India (Standalone Primary Dealers) Directions, 2025

RBI Reference

RBI/DOR/2025-26/366

Date of Issue

November 28, 2025

Last Updated

March 10, 2026

Chapters

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Overview

About This Direction

Complete regulatory framework for Standalone Primary Dealers (SPDs) registered as NBFCs with RBI. Covers registration, capital requirements including CRAR, sources and application of funds, participation in government securities auctions, underwriting commitments, prudential regulations, corporate governance, and reporting obligations.

Table of Contents

Chapter-wise Structure

01Preliminary

02Registration

03Capital Funds and Capital Requirements

04Sources and Application of Funds

05Other Prudential Regulations

06Governance Issues – Corporate Governance

07Miscellaneous Instructions

08Reporting Requirements

09Repeal and Other Provisions

Source & Attribution: This document is issued by the Reserve Bank of India under reference RBI/DOR/2025-26/366 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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