Banking #rbi#nbfc
RBI bars NBFCs from offering revolving credit facilities
RBI has proposed draft directions barring NBFCs from offering revolving credit products and requiring all credit facilities to be structured as term loans. The framework removes demand and call loan provisions, withdraws the board-approved policy requirement, and defines term loans as non-replenishable fund-based facilities. Credit-card NBFCs explicitly authorised by RBI remain exempt.
Aug 7, 2026 1 source