Rules / regulations / directions
RBI (NBFC – Credit Facilities) Directions, 2025
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Reserve Bank of India thematic NBFC credit-facility framework issued 28 November 2025; apply the dated amended version for the loan event.
Scope, legal role and applicability
Thematic NBFC credit-facility framework. It governs lending practices and product controls applicable to covered NBFCs and must be read with customer-conduct, prudential, digital-lending and KYC directions where relevant.
Operative requirements
- Map applicability by NBFC category/layer and product before using any threshold or process rule.
- Maintain Board-approved credit, pricing and recovery policies required by the applicable paragraphs.
- Evidence appraisal, sanction terms, disbursal, end-use/security controls and post-disbursement monitoring.
- Apply fair-practice/customer communication, interest/charge and recovery requirements together with any product-specific RBI direction.
- Where lending is digital, overlay the 2025 Digital Lending Directions rather than treating the credit-facility Direction as exhaustive.
Records, forms and annexures
Preserve credit proposal/appraisal, sanction, agreement, pricing/interest computation, security/end-use evidence, monitoring/review, borrower communications and return/reporting evidence.
Practical advisory example
Facts and issue. An NBFC introduces a new app-based loan product. The product memo should map the Credit Facilities Direction and then separately overlay Digital Lending, KYC, fair-practice and prudential requirements.
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
Official source and version control
Questions and answers
What is the main purpose of RBI (NBFC – Credit Facilities) Directions, 2025?
Reserve Bank of India thematic NBFC credit-facility framework issued 28 November 2025; apply the dated amended version for the loan event.
Which part of RBI (NBFC – Credit Facilities) Directions, 2025 should be checked first?
Start with credit appraisal and sanction controls and then apply this requirement: Identify NBFC class/layer and product before selecting the operative requirement.
What record should be retained?
Credit note, sanction, loan agreement, security/disbursal record, monitoring and RBI return/annexure should be retained according to the Direction.
Does this page treat the RBI Act as the only enabling law?
No. Current thematic credit-facility framework issued 28 November 2025 and updated during 2026; enabling provisions include sections 45JA, 45L and 45M.