Rules / regulations / directions

RBI (NBFC – Acceptance of Public Deposits) Directions, 2025

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Reserve Bank of India thematic framework for deposit-taking NBFCs issued 28 November 2025; use dated amendments in force for the deposit period.

Primary source linkedApplicability mappedOperational guide

Scope, legal role and applicability

Current framework for NBFCs permitted to accept/hold public deposits. It sits on top of the RBI Act’s deposit powers and must be applied together with the entity’s registration/category and any prohibition imposed by RBI.

Operative requirements

Confirm that the NBFC is legally eligible to accept public deposits; registration as an NBFC does not by itself confer deposit-taking permission.
Test deposit ceiling, maturity/renewal, interest/brokerage and rating conditions applicable to the NBFC category.
Apply advertisement/statement requirements and ensure customer-facing material does not imply an RBI guarantee.
Maintain liquid-asset/statutory investment requirements and the prescribed custody/lien controls where applicable.
Comply with repayment, premature repayment, nomination and depositor communication requirements; map Section 45QA/45QB where relevant.
If RBI has prohibited acceptance under Section 45MB, stop at the prohibition—ordinary deposit-direction permissions cannot override it.

Records, forms and annexures

Preserve Board approvals, credit rating, deposit register, advertisement/statement, liquid-asset evidence, nomination, maturity/repayment records, returns and any RBI prohibition/relaxation order.

Practical advisory example

Facts and issue. An NBFC with a valid CoR wants to launch fixed deposits. The first question is deposit-taking eligibility under the current Direction; only after that should it test ceiling, rating, tenure, liquid assets, disclosures and returns.

Working method. Classify the entity/product, identify the exact paragraph in force on the event date, test exceptions and transitional provisions, then retain the evidence listed above. Do not rely on the title of the Direction or an old Master Direction version.

RBI Act / cross-law linkage

Section 45JBank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money Section 45KPower of Bank to collect information from non-banking institutions as to deposits and to give directions Section 45LPower of Bank to call for information from financial institutions and to give directions Section 45MAPowers and duties of auditors Section 45MBPower of Bank to prohibit acceptance of deposit and alienation of assets Section 45NADeposits not to be solicited by unauthorised persons Section 45QAPower to order repayment of deposit Section 45QBNomination by depositors

Official source and version control

Version control for RBI (NBFC – Acceptance of Public Deposits) Directions, 2025: retain the instrument text and amendment in force on the event date.

Questions and answers

What is the main purpose of RBI (NBFC – Acceptance of Public Deposits) Directions, 2025?

Reserve Bank of India thematic framework for deposit-taking NBFCs issued 28 November 2025; use dated amendments in force for the deposit period.

Which part of RBI (NBFC – Acceptance of Public Deposits) Directions, 2025 should be checked first?

Start with eligibility to accept public deposits and then apply this requirement: Confirm that the NBFC is legally entitled to accept the particular deposit before considering product terms.

What record should be retained?

Use the prescribed deposit application/receipt/nomination/reporting forms or RBI returns specified by the current Direction and applicable rules.

Does this page treat the RBI Act as the only enabling law?

No. Current deposit-taking NBFC framework issued 28 November 2025 and amended in 2026.

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