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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Updated Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023

10-Oct-2024 | RBI/DoR/2023-24/106 DoR.FIN.REC.No.45/03.10.119/2023-24

Reserve Bank of India (RBI) has released updates to the Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023 effective 10th October 2024. Key updates include: a. Investments in Alternative Investment Funds (AIFs) - Para 32C: NBFCs will be required to provision only for the portion of their investment in AIFs that is invested in a debtor company by the AIF. Investments made through intermediaries (such as funds of funds or mutual funds) do not fall under this provision. (Circular on Investments in Alternative Investment Funds (AIFs) dated March 27, 2024) b. Digital Lending Compliance - Para 49: NBFCs must comply with the Key Facts Statement (KFS) for Loans & Advances guidelines issued on April 15, 2024. This KFS standard is to be provided to borrowers, helping ensure transparency in loan terms. (Circular on Key Facts Statement (KFS) for Loans & Advances dated April 15, 2024) c. Credit Information Reporting - Para 66: From January 1, 2025, Credit Institutions (CIs) must update their information with Credit Information Companies (CICs) every fortnight (15th and the last day of each month) or at intervals agreed upon with CICs. (Circular on Frequency of reporting of credit information by Credit Institutions to Credit Information Companies dated August 08, 2024) For more details, please refer to the official document.

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Tamil Nadu enacts amendment to Town and Country Planning Act, 1971

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