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ARTICLE · 26 JULY 2024

RBI Issues Circular Establishing Credit/Investment Concentration Norms For NBFCs

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On January 3, 2024, the Reserve Bank of India issued a revised set of guidelines titled "Master Direction – Reserve Bank of India...

IndiaFinance and Banking
Jinal Shah
Jinal Shah
Rugwed Dhage
Rugwed Dhage
Smrithi Balasubramanian
Smrithi Balasubramanian
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On January 3, 2024, the Reserve Bank of India issued a revised set of guidelines titled "Master Direction – Reserve Bank of India (Commercial Paper and Non-Convertible Debentures of original or initial maturity up to one year) Directions, 2024." The directives outline reporting requirements for various aspects of Commercial Papers (CPs) and Non-Convertible Debentures (NCDs) in the financial markets:

  • Primary issuances reporting:
    • Issuing and Paying Agents (IPA) are required to report details of all CPs and NCDs issuances in the primary markets on the F-TRAC platform by 5:30 PM on the day of issuance.
  • Secondary market transactions reporting:
    • All secondary market transactions of CPs and NCDs, whether executed in the Over-the-Counter (OTC) market or on recognized stock exchanges, must be reported with a timestamp within 15 minutes of execution on the F-TRAC platform by each counterparty involved.

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