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Relevant Regulatory Guidelines

Master Circulars (related to NBFC-MFIs)

# Details Issued On Enclosures
1 Operating Guidelines for Small Finance Banks  October 6th, 2016 View/Download
2 ‘Non Banking Financial Company-Micro Finance Institutions’ (NBFC-MFIs) – Directions  July 1st, 2014 View/Download
3 Fair Practices Code  July 1st, 2014 View/Download
4 Corporate Governance  July 1st, 2014 View/Download
5 Miscellaneous Instructions to all Non-Banking Financial Companies  July 1st, 2014 View/Download
6 ‘Know Your Customer’ (KYC) Guidelines – Anti Money Laundering Standards (AML) -’Prevention of Money Laundering Act, 2002 – Obligations of NBFCs in terms of Rules notified thereunder’  July 1st, 2014 View/Download
7 “Non-Banking Financial (Non – Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007  July 1st, 2014 View/Download
8 Allied activities – Entry into insurance business, issue of credit card and marketing and distribution of certain products  July 1st, 2014 View/Download
9 Miscellaneous Instructions to NBFC- ND-SI  July 1st, 2014 View/Download
10 Frauds – Future approach towards monitoring of frauds in NBFCs  July 1st, 2014 View/Download
11 “Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008.”  July 1st, 2014 View/Download
12 Requirement for Obtaining Prior Approval of RBI in Cases of Acquisition / Transfer of Control of NBFC  July 1st, 2014 View/Download
13 Exemptions from the provisions of RBI Act, 1934  July 1st, 2014 View/Download
14 Distribution of Mutual Fund products by NBFCs May 5th, 2015 View/Download
15 Applicability of Concentration of Credit/ Investment Norms April 7th, 2016 View/Download
16 Acting as Channelizing Agents for Schemes operated by Central/State Government Agencies April 13th, 2016 View/Download
17 Publicity in the bank branches cautioning public against placing deposits in dubious schemes April 21st, 2016 View/Download
18 Draft Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector May 5th, 2016 View/Download
19 Payment and Settlement Systems in India: Vision-2018 View/Download
20 Format of Statutory Auditors’ Certificate (SAC) to be submitted by NBFCs June 23rd, 2016 View/Download
21 Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector August 1st, 2016 View/Download

NBFC-MFIs

# Details Issued on Enclosures
1 NBFC-MFIs – Directions Dec 02, 20111 View/Download
2 Modified NBFC-MFIs – Directions August 03, 2012 View/Download
3 Modifications in Pricing of Credit – Margin cap May 31, 2013 View/Download
4 Master Circular – Introduction of New Category of NBFCs July, 1, 2013 View/Download
5 Modifications in “Pricing of Credit” Feb 7, 2014 View/Download
6 Priority Sector Lending-Targets and Classification-Bank loans to MFIs for on-lending pricing criteria March 12, 2014 View/Download
7 Pricing of credit by NBFC-MFIs- applicable average base rate for the quarter beginning October 01, 2015 September 30, 2015 View/Download
8 Non Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) – Directions – Modifications October 01, 2015 View/Download
9 Pricing of credit by NBFC-MFIs- applicable average base rate for the quarter beginning July 01, 2016 June 30, 2016 View/Download
10 DNBS(PD) CC.No.300/3.10.038/2012-13 dated August 3, 2012 April 04, 2013 View/Download

Fair Practices Code

# Details Issued on Enclosures
1 Guidelines on Fair Practices Code for NBFCs March 26, 2012 View/Download
2 Guidelines on Fair Practices Code for NBFCs – Grievance Redressal Mechanism – Nodal Officer February 18, 2013 View/Download

SRO

# Details Issued on Enclosures
1 SRO for NBFC-MFIs Nov, 26, 2013 View/Download

Priority Sector Lending

# Details Issued on Enclosures
1 Priority Sector Lending – Targets and Classification July 20, 2012 View/Download
2 Targets and Classification – Bank loans to MFIs for on – lending – Amendment in income generation criteria June 27, 2013 View/Download
3 Priority Sector Lending-Targets and Classification-Bank loans to MFIs for on-lending pricing criteria March 12, 2014 View/Download
4 Priority Sector Lending: Targets and Classification April 23, 2015 View/Download
5 Priority Sector Lending: Targets and Classification July 16, 2015 View/Download
6 Priority Sector Lending: Certificates April 7th, 2016 View/Download
7 Priority Sector Lending: Targets and Classification – Bank loans to MFIs
for onlending – Qualifying asset – Revised loan limit
July 28th, 2016 View/Download

Corporate Governance

# Details Issued on Enclosures
1 Master Circular – Corporate Governance July 2, 2012 View/Download

CIC Regulations

# Details Issued on Enclosures
1 Credit Information Companies Regulations, 2006 December 14, 2006   View/Download
2 Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures July 27, 2014   View/Download
3 Membership of Credit Information Companies (CICs) January 15, 2015   View/Download

Charter of Customer Rights

# Details Issued on Enclosures
1  Draft Charter of Customer Rights  June 23, 2014   View/Download

RBI Committee Report

# Details Issued on Enclosures
1 Report of the Sub-Committee of the Central Board of Directors of Reserve Bank of India to Study Issues and Concerns in the MFI Sector January, 2011 View/Download
2 Committee on Comprehensive Financial Services for Small Businesses and Low Income Households February, 2014 View/Download
3 Report of the Committee to Recommend Data Format for Furnishing of Credit Information to Credit Information Companies March 22, 2014 View/Download

Business Correspondent

# Details Issued on Enclosures
1 Financial Inclusion by Extension of Banking Services – Use of Business Correspondents  June 24, 2014 View/Download

Know Your Customer (KYC) Norms /Anti-Money Laundering (AML)
Standards for NBFCs

# Details Issued on Enclosures
1 Know Your Customer (KYC) Norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of Payment System Operators under Prevention of Money Laundering Act (PMLA), 2002 Obligation of Payment System Operators – Amendment to Prevention of Money-Laundering (Maintenance of Records) Rules 2013 December 1, 2014  View/Download
2 Recognising E-Aadhaar as an ‘Officially Valid Document’ under PML Rules July 14, 2014  View/Download

Regulatory Framework for NBFC

# Details Issued on Enclosures
1 Revised Regulatory Framework for NBFC November 10, 2014  View/Download
2 IRDAI (Micro Insurance) Regulations, 2015 May 05, 2015  View/Download

Relevant Frameworks

# Details Issued on Enclosures
1 Framework for Revitalising Distressed Assets in the Economy July 23, 2015  View/Download


Group Insurance Policy

The various Group Insurance policies/guidelines issued by IRDA are as under:

# Details Issued on Enclosures
1 Group Insurance Guidelines 14-07-05 Download
2 Clarification on Guidelines on Group Insurance Policies 04-01-11 Download
3 IRDA (Non Linked Insurance Products) Regulations, 2013  February 16, 2013 Download
4 Claim processing for Group Life Insurance Policies under Lender-Borrower Group Insurance Scheme  December 29, 2014 Download

Micro insurance

The various Micro Insurance guidelines/note issued by IRDA are as under:

# Details Issued on Enclosures
1 IRDA Micro – Insurance Regulations, 2005 10-11-05 Download
2 IRDA (Micro-Insurance) Regulations 2005 – Micro Insurance Agents 12-03-08 Download
3 Exposure Draft on Micro Insurance (Modification) Regulations 26-07-12 Download
4 Circular on Micro Insurance Agents 03-04-13 Download
5 IRDA’s Micro Insurance Modification Draft Regulations 2014 31-01-14 Download

Standard Product for Rural and Social Sector

On 21st September 2012, IRDA issues a draft note on standard product for rural and social sector.

# Details Issued on Enclosures
1 Exposure draft of Standard Product for Rural and Social Sector 21-09-12 Download

Intermediary

# Details Issued on Enclosures
1 Draft IRDA(Insurance Marketing firm) Regulations 2014  02-04-2014 Download

RBI Guidelines

The various RBI guidelines/circular issued by IRDA are as under:

# Details Issued on Enclosures
1 Entry of NBFCs into Insurance Business 14-02-04 Download
2 Introduction of New Category of NBFCs – ‘Non Banking Financial Company-Micro Finance Institutions’(NBFC-MFIs) – Directions 02-12-12 Download
# Details Issued on Enclosures
1 SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 12-06-2013 Download
2 SEBI (Employee Stock Option Scheme & Employee Stock Purchase Scheme) Guidelines 03-09-2009 Download
# Details Issued on Enclosures
1 Summary report Calendar Year 2013 13-05-2014 Download
# Details Issued on Enclosures
1 The Companies (Share Capital and Debentures) Rules, 2014 31-03-2014 Download
2 The Companies Act, 2013 30-08-2013 Download
3 Companies Act, 1956 Download

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