RBI Policy
Proposes exempting NBFCs with no public funds from registration
This story was originally published at 12:01 IST on 6 February 2026
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NEW DELHI - The Reserve Bank of India on Friday proposed exempting non-banking financial companies having no public funds and customer interface, with asset size of less than INR 10 billion, from the requirement of registration. This will promote ease of doing business for such companies, the central bank's Governor Sanjay Malhotra said.
According to the RBI Act, 1934, NBFCs can start operations after obtaining a certificate of registration from the RBI. They also need to have net-owned funds of INR 100 million with effect from Oct. 1, 2022. However, certain categories of NBFCs which are regulated by other regulators are exempted from the requirement of registration with the RBI.
The RBI also proposed removing the requirement for certain NBFCs to obtain prior approval to open more than 1,000 branches, Malhotra said. End
Reported by Sagar Sen
Edited by Vandana Hingorani
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