Connect 2 Regulate

Certain instructions on matters related to recovery of loans and engagement of recovery agents by Housing Finance Companies (HFCs) have been issued to HFCs under Chapter-X on ‘Fair Practices Code’ of the Reserve Bank of India (Housing Finance Companies) Directions, 2025. The extant instructions have since been reviewed. It has also been decided to issue comprehensive instructions on conduct related matters in recovery of loans and engagement of recovery agents to all NBFCs, excluding Mortgage Guarantee Companies, Core Investment Companies, NBFC-Account Aggregators, Standalone Primary Dealers, Non-Operating Financial Housing Companies, and NBFCs not having any customer interface, under the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025. Accordingly, the draft “Reserve Bank of India (Housing Finance Companies) Second Amendment Directions, 2026” has been issued for public comments.

Certain instructions on matters related to recovery of loans and engagement of recovery agents by Non-Banking Financial Companies (NBFCs) have been issued to NBFCs under Chapter III on ‘Responsible Lending Conduct’ of the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025. The extant instructions have since been reviewed. It has also been decided to issue comprehensive instructions on conduct related matters in recovery of loans and engagement of recovery agents to all NBFCs, excluding Mortgage Guarantee Companies, Core Investment Companies, NBFC-Account Aggregators, Standalone Primary Dealers, Non-Operating Financial Housing Companies, and NBFCs not having any customer interface. Accordingly, the draft “Reserve Bank of India (Non-Banking Financial Companies - Responsible Business Conduct) Second Amendment Directions, 2026” has been issued for public comments.

Certain instructions on responsibilities of an All India Financial Institution (AIFI) employing recovery agents have been issued to AIFIs under the Reserve Bank of India (All India Financial Institutions – Responsible Business Conduct) Directions, 2025. The extant instructions have since been reviewed. It has also been decided to issue comprehensive instructions on conduct related matters in recovery of loans and engagement of recovery agents to all AIFIs under the aforesaid Directions. Accordingly, the draft “Reserve Bank of India (All India Financial Institutions - Responsible Business Conduct) Second Amendment Directions, 2026” has been issued for public comments.

Certain instructions on matters related to engagement of recovery agents by Rural  Co-operative Banks (RCBs) have been issued to RCBs under the Reserve Bank of India (Rural Co-operative Banks – Responsible Business Conduct) Directions, 2025. The extant instructions have since been reviewed. It has also been decided to issue comprehensive instructions on conduct related matters in recovery of loans and engagement of recovery agents to all RCBs under the aforesaid Directions. Accordingly, the draft “Reserve Bank of India (Rural Co-operative Banks - Responsible Business Conduct) Second Amendment Directions, 2026” has been issued for public comments.

Certain instructions on matters related to engagement of recovery agents by Urban  Co-operative Banks (UCBs) have been issued to UCBs under the Reserve Bank of India (Urban Co-operative Banks – Responsible Business Conduct) Directions, 2025. The extant instructions have since been reviewed. It has also been decided to issue comprehensive instructions on conduct related matters in recovery of loans and engagement of recovery agents to all UCBs under the aforesaid Directions. Accordingly, the draft “Reserve Bank of India (Urban Co-operative Banks - Responsible Business Conduct) Second Amendment Directions, 2026” has been issued for public comments.