RBI Update – Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies)

These Directions shall be called the Reserve Bank of India (Fraud Risk Management in NBFCs) Directions, 2024.

 Applicability

The provisions of these Directions shall, unless otherwise provided, apply to:

All Non-Banking Financial Companies1 (including Housing Finance Companies) in the Upper Layer, Middle Layer and in the Base Layer2 (with asset size of ₹500 crore and above3).

These NBFCs shall hereinafter collectively be referred to as ‘Applicable NBFCs’ for the purpose of these Directions.

Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12704&Mode=0