Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Latest Circulars »
Open DEMAT Account in 24 hrs
  Auction of Government of India Dated Securities
 Extension of validity of Directions under Section 35A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) HCBL Co-operative Bank Ltd Lucknow (U.P.)
 Winning in Uncertain Times: The Indian Experience (Inaugural Speech by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 22, 2023 - Delivered at the FIBAC 2023 Conference Organised Jointly by FICCI and IBA at Mumbai)
 International Trade Settlement in Indian Rupees (INR) Opening of additional Current Account for exports proceeds
 Regulatory measures towards consumer credit and bank credit to NBFCs
 Emerging India: A Land of Stability and Opportunities (Keynote Speech by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 9, 2023 - Delivered at the Symposium on Indian Economy 2023 organised by Institute of Indian Economic Studies at the Tokyo Chamber of Commerce and Industry, Tokyo, Japan)
 Auction of Government of India Dated Securities Nov 06, 2023
 Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on November 04 and 06, 2023 (SGB 2018-19 Series I and SGB 2017-18 Series VI)
  Auction of State Government Securities
  RBI announces results of second edition of its Global Hackathon HARBINGER 2023
 Results of Underwriting Auctions Conducted on October 13, 2023

RBI-Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) Directions DNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011 and DNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015 Revision of the loan amount with tenure not less than 24
December, 02nd 2015

RBI/2015-16/250
DNBR.CC.PD.No. 071/03.10.038/2015-16

November 26, 2015

To
All NBFC-MFIs

Madam/ Sir

Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) – 
Directions DNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011 and DNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015 – 
Revision of the loan amount with tenure not less than 24 months

In the light of the representations received from the ‘sector’ on the captioned subject, it is advised that limit of the loan amount, for which the tenure of the loan shall not be less than 24 months, has been raised to ₹ 30,000/- from the present limit of ₹ 15,000 . All loans necessarily be prepaid without any penalty, as hitherto.

2. Notifications dated November 26, 2015, amending the Non-Banking Financial Company-Micro Finance Institutions–(Reserve Bank) Directions, 2011, Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 and Non-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 are enclosed.

Yours faithfully,

(C. D. Srinivasan)
Chief General Manager


RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING REGULATION
CENTRAL OFFICE, CENTRE I, WORLD TRADE CENTRE
CUFFE PARADE, COLABA, MUMBAI 400 005

Notification No.DNBR. 033/CGM (CDS)-2015 dated November 26, 2015

The Reserve Bank of India, (the Bank) having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial Company – Micro Finance Institutions (Reserve Bank) Directions, 2011 (Notification DNBS.PD.No. 234/CGM(US)-2011 dated December 02, 2011) (hereinafter referred to as ‘the said Directions’), in exercise of the powers conferred by sections 45-JA and 45-L of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said Directions shall be amended with immediate effect as follows, namely –

1. In paragraph 3, sub-paragraph (ii), for clause (d) of the said Directions, the following clause shall be substituted, namely,- “(d) tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 30,000 with prepayment without penalty;”

(C.D. Srinivasan)
Chief General Manager


RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING REGULATION
CENTRAL OFFICE, CENTRE I, WORLD TRADE CENTRE
CUFFE PARADE, COLABA, MUMBAI 400 005

Notification No.DNBR. 034/CGM (CDS)-2015 dated November 26, 2015

The Reserve Bank of India (the Bank), having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 (Notification DNBS.PD.No. 008/CGM(CDS)-2015 dated March 27, 2015) (hereinafter referred to as ‘the said Directions’), in exercise of the powers conferred by sections 45-JA and 45-L of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said Directions shall be amended with immediate effect as follows, namely –

1. In paragraph 2, sub-paragraph (xiii), for the purpose of clause (b) of the said Directions, the explanation provided for the term “Qualifying assets” at sub-clause iv shall be substituted by the following –

iv. tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 30,000 with prepayment without penalty;

(C.D. Srinivasan)
Chief General Manager


RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING REGULATION
CENTRAL OFFICE, CENTRE I, WORLD TRADE CENTRE
CUFFE PARADE, COLABA, MUMBAI 400 005

Notification No.DNBR. 035/CGM (CDS)-2015 dated November 26, 2015

The Reserve Bank of India (the Bank), having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 (Notification DNBS.PD.No.009/CGM(CDS)-2015 dated March 27, 2015) (hereinafter referred to as ‘the said Directions’), in exercise of the powers conferred by sections 45-JA and 45-L of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said Directions shall be amended with immediate effect as follows, namely –

1. In paragraph 2, sub-paragraph (xiii), for the purpose of clause (ii) of the said Directions, the explanation provided for the term “Qualifying assets” at sub-clause iv shall be substituted by the following –

iv. tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 30,000 with prepayment without penalty;

(C.D. Srinivasan)
Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting