The Reserve Bank of India has issued the Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Amendment Directions, 2026, with immediate effect, amending the Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Directions, 2025. The amendment inserts new paragraphs 13A and 13B permitting the National Urban Co-operative Finance and Development Corporation Limited (NUCFDC), acting as the Umbrella Organisation for UCBs, to make private placement offers of its equity shares to more than 200 persons in a financial year, notwithstanding the limit prescribed under the Companies Act, 2013, subject to specified conditions. These include a board-approved resource planning policy, restriction of offers only to UCBs and National Co-operative Development Corporation, prohibition on financial assistance against its own shares, end-use alignment with its RBI-approved mandate, compliance with applicable laws, and quarterly reporting to RBI. The Directions shall remain in force until March 31, 2029, unless modified, withdrawn, or extended earlier.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13309&Mode=0
