Statutory Guide for NBFCs book by Taxmann

Statutory Guide for NBFCs is the most comprehensive and authoritative compendium on the legal and regulatory framework. This Edition presents an authentic, fully updated repository of the Reserve Bank of India's (RBI) Master Directions, Circulars, Notifications, and Guidelines applicable to NBFCs, Residuary NBFCs, Miscellaneous NBFCs, and Mortgage Guarantee Companies. Drawing on decades of regulatory evolution and jurisprudence, the compendium serves as an essential statutory reference and compliance toolkit for all stakeholders in India's non-banking financial sector.

This book is designed to serve a broad cross-section of professionals and institutions, including:

• NBFCs and their Compliance Teams – For day-to-day operations, statutory compliance, and risk management
• Banking and Financial Sector Professionals – For policy reference, strategic planning, and sectoral insights
• Legal Practitioners, Auditors, and Company Secretaries – For advisory, audit, and litigation concerning NBFC operations
• Regulators and Supervisory Authorities – For oversight, investigation, and policy implementation
• Academics, Researchers, and Students – For an in-depth, structured understanding of India's non-banking financial regime

The Present Publication is the 30^th Edition | 2025, incorporating all amendments made up to 20^th June 2025, with the following noteworthy features:

• [Authoritative Source] Recognised as the gold standard for NBFC law and regulation, reflecting all significant RBI developments up to 2025
• [Comprehensive Coverage] Incorporates every category of NBFCs—deposit taking and non-deposit taking, housing finance companies, core investment companies, peer-to-peer lending platforms, mortgage guarantee companies, and more
• [Up-to-date Compliance Tools] Includes the latest RBI Directions (e.g., Scale Based Regulation, Digital Lending, Fraud Risk Management, Credit Information Reporting, Project Finance), all relevant circulars and notifications, and current statutory requirements for registration, capital, governance, and returns
• [User-friendly Structure] Divided into thematic divisions for easy navigation—Master Directions, Circulars, Law Relating to NBFCs, Residuary and Miscellaneous NBFCs, Mortgage Guarantee Companies, Foreign Exchange Regulations, Lending to NBFCs, Prescribed Returns, and IBC Provisions
• [Practical Commentary] Features expert notes, case law references, compliance checklists, and procedural guidance on every aspect of NBFC operations, risk management, and reporting
• [Special Focus Areas] Dedicated divisions for KYC/AML compliance, Information Technology Governance, Operational Risk, Fair Practices Code, Corporate Governance, Outsourcing, and Cross-border Transactions
• [Regulatory Developments] Incorporates all major regulatory changes, including the shift of Housing Finance Company regulation to RBI, implementation of Scale Based Regulation, and latest directions on digital lending and fraud risk management
• [Practical Utility] Serves as a one-stop manual for NBFC compliance, audit, legal advisory, and sectoral research
• [Trusted by Professionals] Widely used by NBFCs, law firms, auditors, and regulatory bodies as an authentic statutory guide

The coverage of the book is as follows:

• Master Directions, Circulars, Notifications
  • A consolidated repository of all RBI Master Directions, Circulars, and Notifications relevant to NBFCs from 2016–2025, indexed for instant reference
• Law Relating to NBFCs
  • In-depth coverage of the statutory and regulatory framework:
    • Acceptance of Public Deposits, Scale-Based Regulation, Core Investment Companies, Auditor's Reports
    • Exemptions, KYC Directions, Information Technology, Account Aggregator, Peer to Peer Lending, Housing Finance, Basel III, Operational Risk, Fraud Risk Management, Wilful Defaulters, Credit Information Reporting, and Project Finance.
• Other Notifications & Circulars
  • Practical guidelines on branch expansion, net owned fund requirements, asset maintenance, corporate governance, allied activities (insurance, credit cards), Fair Practices Code, acquisition and transfer of control, interest rate regulation, Integrated Ombudsman Scheme, amalgamation/merger with banks, etc.
• RBI Clarifications
  • Exhaustive compendium of RBI's clarifications and responses to industry queries (2016–2025), addressing grey areas and interpretational challenges
• Special Laws for Residuary & Miscellaneous NBFCs
  • Separate divisions for RNBCs, Miscellaneous NBFCs, and Mortgage Guarantee Companies, covering their unique regulatory requirements and operational guidelines
• Foreign Exchange Management
  • Analysis of Foreign Exchange Management (Non-Debt Instruments) Rules, overseas investment by NBFCs, cross-border lending, and related compliance
• Lending to NBFCs & Other Matters
  • Bank finance to NBFCs, credit/debit card regulations, consumer credit, priority sector lending, and digital lending framework
• Prescribed Returns
  • Complete guide to returns required under RBI regulations, including forms, periodicity, content, and filing procedure for all categories of NBFCs (NBS-1, NBS-2, ALM, SAC, etc.)
• Insolvency and Bankruptcy Code (IBC)
  • Coverage of IBC provisions as applicable to NBFCs, including insolvency/liquidation proceedings for financial service providers
• Detailed Subject Index
  • An extensive index for cross-referencing topics, directions, forms, and circulars for rapid access to relevant material

The book is meticulously organised into logical divisions and chapters:

• Preliminary Reference – List of Master Directions, Circulars, and Notifications for at-a-glance guidance
• Divisions by NBFC Type – Each type of NBFC (including residuary, miscellaneous, and mortgage guarantee companies) has its dedicated division
• Regulatory Themes – Thematic structuring of cross-cutting regulations—KYC, IT Governance, Risk Management, Outsourcing, Corporate Governance, Returns, etc.
• Special Sections – Inclusion of allied laws (FEMA, IBC), operational risk guidance, and case law summaries
• Statutory and Procedural Appendices – Sample forms, prescribed returns, and procedural checklists for quick reference