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RBI Directions 2026 for NBFC Banking Business with Borrower’s Dignity

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Reserve Bank of India (Non-Banking Financial Companies – Responsible
Business Conduct) Third Amendment Directions, 2026
Certain instructions on matters related to engagement of recovery agents by Non
Banking Financial Companies (NBFCs) have been issued to NBFCs under Chapter III
on ‘Responsible Lending Conduct’ of the Reserve Bank of India (Non-Banking Financial
Companies – Responsible Business Conduct) Directions, 2025. The extant instructions
have since been reviewed and it has been decided to issue comprehensive instructions
on conduct related matters in recovery of loan dues and engagement of recovery
agencies to all NBFCs, excluding Mortgage Guarantee Companies, Core Investment
Companies, NBFC-Account Aggregators, Standalone Primary Dealers, Non-Operating
Financial Holding Companies, and NBFCs not having any customer interface.
2. In exercise of the powers conferred by Sections 45JA, 45L and 45M of the Reserve
Bank of India Act, 1934, the Reserve Bank, being satisfied that it is necessary and
expedient in public interest so to do, hereby issues the Amendment Directions
hereinafter specified.
3. Short Title and Commencement
(1) These Directions shall be called the Reserve Bank of India (Non-Banking Financial
Companies – Responsible Business Conduct) Third Amendment Directions, 2026.
(2) These Directions shall come into effect from January 1, 2027.

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