RBI Update - Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Second Amendment Directions, 2026

The Reserve Bank of India has issued the Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Second Amendment Directions, 2026, effective immediately, amending the Non-Banking Financial Companies – Credit Facilities Directions, 2025. The amendment introduces an explanation to paragraph 70 clarifying that where a project can be operationalised as multiple independent and viable units, an NBFC may, at its discretion, finance such units as separate projects with independent financial closure, subject to each unit being appraised beforehand for its standalone viability. Further, an explanation has been inserted in paragraph 72 to clarify that, for electricity generation projects comprising both generation and transmission (evacuation infrastructure) components, the right of way requirement for the transmission component may be determined in accordance with sub-paragraph (3).