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This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

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Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

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Jan 23, 2024

Revised Regulatory Framework for NBFCs

The RBI has issued the Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 (‘SBR Master Directions’) on October 19, 2023, replacing the erstwhile Master Directions for NBFCs (systemically and non-systemically important), with immediate effect. The SBR Master Directions resolve the inconsistencies that arose in the interim period when both the erstwhile Master Direction framework and the SBR framework issued on October 22, 2021, were in force. With the introduction of these directions, both the erstwhile framework and the SBR framework have been consolidated into a comprehensive set of directions. While the SBR Master Directions categorises NBFCs based on the layers (i.e., base, middle, upper and top layer), the categorisation based on acceptance of deposits and the nature of activities also continues to apply to NBFCs.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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