RBI Circulars & Notifications – June 2025

1. NBFC-MFI & NBFC Regulations

NBFC-MFIs must ensure that at least 60% of their total net assets are microfinance loans as per the defined criteria. If they fail to maintain this ratio for four consecutive quarters, they must submit a corrective plan to the RBI. The maximum household annual income for microfinance loan eligibility is fixed at ₹3 lakh.

Net Owned Fund Requirements

NBFC Type	Current NOF	By 31 Mar 2025	By 31 Mar 2027
NBFC-ICC	₹2 crore	₹5 crore	₹10 crore
NBFC-MFI	₹5 crore (₹2 crore NE)	₹7 crore (₹5 crore NE)	₹10 crore
NBFC-Factor	₹5 crore	₹7 crore	₹10 crore

2. Penal Interest on CRR & SLR Defaults

• First day of default: Bank Rate + 3%
• From next day onwards: Bank Rate + 5%

3. Lending Against Gold & Silver – Directions 2025

Applicable to all scheduled banks (except payment banks), cooperative banks, NBFCs, and housing finance companies.

Definitions:

• Bullet Repayment Loan: Loan where principal & interest are repaid at maturity.
• Primary Gold/Silver: Metal in any form except jewellery, ornaments, and coins.

Loan Ceilings:

• Bullet loans max tenure: 12 months
• Max collateral: 1 kg gold ornaments, 10 kg silver ornaments, 50 g gold coins, 500 g silver coins

LTV Ratios:

Loan Amount per Borrower	Max LTV Ratio
≤ ₹2.5 lakh	85%
₹2.5 – ₹5 lakh	80%
> ₹5 lakh	75%

Valued at lower of 30-day average price or previous day’s price (IBJA/SEBI), based on actual purity; gems and add-ons excluded.

Auction Rules:

• Borrower informed before auction; public notice in 2 newspapers.
• 1st & 2nd auction reserve price ≥ 90% of current value; ≥ 85% after 2 failed attempts.
• Auctions conducted by trained staff/empanelled auctioneers only.
• Surplus refunded within 7 days; shortfall recovered per loan agreement.

4. FEMA Amendment – Diamond Dollar Accounts

Validity extended from 2 years to 3 years for opening a Diamond Dollar Account.

5. Large Exposures Framework (LEF)

Deposits with NHB, SIDBI, MUDRA Ltd., or RBI-specified entities for PSL shortfall are exempt from large exposure limits.

• Large exposure definition: Exposure ≥ 10% of Tier 1 capital

Limits:

1. Single counterparty ≤ 20% (25% with Board approval)
2. Group of connected counterparties ≤ 25%

6. Priority Sector Lending – SFB Changes

From FY 2025–26: PSL target reduced from 75% to 60% of ANBC/CEOBE.

• 40% – RBI-mandated sub-sectors
• 20% – Bank’s discretion

7. KYC Updates & AML Compliance

• Low-risk customers: KYC update by 30 June 2026 or within 1 year of due date; no interim restrictions.
• BCs can collect self-declarations for no change/address change.
• Mandatory 3 advance notices + 3 reminders for KYC update.
• Video KYC (V-CIP) treated equal to face-to-face.

8. STRIPS for State Government Securities

STRIPS mechanism now allowed for State Govt./UT securities with:

• Residual maturity ≤ 14 years
• Minimum outstanding ₹1,000 crore
• Tradable in OTC market only

9. Import of Shipping Vessels

Advance remittance limit: USD 50 million without bank guarantee or LoC.

10. Agency Commission Rates (from 1 Apr 2025)

Transaction Type	Unit	Rate
Receipts – Physical	Per txn	₹40
Receipts – e-mode	Per txn	₹12
Pension Payments	Per txn	₹80
Other Payments	₹100 turnover	₹0.07

11. Project Finance Directions – Effective Oct 1, 2025

Harmonised rules for all REs.

• DCCO extension: Infra max 3 years, Non-infra max 2 years.
• Cost overrun funding: Max 10% of original cost.
• Project phases: Design, Construction, Operational.
• Land requirement before disbursement: PPP infra 50%, Others 75%.

12. DEA Fund Guidelines (2025)

• Unclaimed deposits (>10 years) transferred monthly to DEA Fund via e-Kuber.
• One consolidated refund claim per month.
• Annual certificate due by 30 Sept each year.

13. AePS Fraud Prevention Guidelines

• Banks must KYC AePS Touchpoint Operators.
• Inactive > 3 months → KYC re-verification before reactivation.
• Continuous transaction monitoring required.

14. Monetary Policy Snapshot – June 2025

Indicator	Rate
Repo Rate	5.50%
SDF	5.25%
MSF/Bank Rate	5.75%
CRR	4.00% (to be reduced to 3.00% in stages)
SLR	18.00%
CPI Inflation FY26	3.7%
GDP Growth FY26	6.5%

15. Supervisory Data Quality Index (sDQI) – March 2025

Bank Type	Accuracy	Completeness	Timeliness	Consistency	sDQI Score
SCBs	89.1	96.2	86.7	95.8	89.3
PSBs	88.8	99.4	85.2	89.2	89.0
Pvt Banks	89.6	98.9	85.3	88.9	88.7
Foreign	89.1	92.6	85.9	87.6	88.0
SFBs	90.6	98.9	86.1	91.0	89.5

16. Forex Reserves – July 4, 2025

Component	₹ Crore	USD Mn
Total Reserves	59,75,266	699,736
FCA	50,49,185	591,287
Gold	7,24,528	84,846
SDRs	1,61,120	18,868
IMF Position	40,432	4,735