CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. RBI/2015-16/250 dated November 26, 2015 for Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) Directions DNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011 and DNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015 Revision of the loan amount with tenure not less than 24
RBI/2015-16/250
DNBR.CC.PD.No. 071/03.10.038/2015-16
November 26, 2015
To
All NBFC-MFIs
Madam/ Sir
Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs)
Directions DNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011 and DNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015
Revision of the loan amount with tenure not less than 24 months
In the light of the representations received from the ˜sector™ on the captioned subject, it is advised that limit of the loan amount, for which the tenure of the loan shall not be less than 24 months, has been raised to ‚¹ 30,000/- from the present limit of ‚¹ 15,000 . All loans necessarily be prepaid without any penalty, as hitherto.
2. Notifications dated November 26, 2015, amending the Non-Banking Financial Company-Micro Finance Institutions(Reserve Bank) Directions, 2011, Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 and Non-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015 are enclosed.
Yours faithfully,
(C. D. Srinivasan)
Chief General Manager
