Reserve Bank of India RBI
Who they are
The RBI is India’s central bank that was formed under the provisions of the Reserve Bank of India Act, 1934. Since its nationalization in 1949, the RBI has been an organization owned by the Government of India. It functions as the monetary authority of India, regulator of banks, custodian of foreign exchange, and currency issuer.
What they do
Formulates and executes monetary policy via the Monetary Policy Committee (MPC). Supervises commercial banks, co-operative banks, NBFCs, payment banks, small finance banks, and some financial institutions. Ensures financial stability through prudential regulation, risk-based supervision, and macro-prudential supervision. Supervises payment and settlement systems in accordance with the provisions of the Payment and Settlement Systems Act, 2007.
Currency Management: Exclusive power to issue bank notes (other than the ₹1 note issued by the Government of India) and manage the currency. Manages the Foreign Exchange Management Act (FEMA), 1999, and the foreign exchange resources of India. Provides banking facilities to the Government of India and most state governments and acts as the manager of public debts. Formulates regulations regarding KYC, CDD, AML / CFT, Cyber Security, Outsourcing, Digital Lending, and Governance.
Key instruments issued
- Direction RBI Digital Lending Directions, 2025 2025
- Circular RBI Master Circular — Basel III Capital Regulations (updated annually) 2025
- Direction RBI Master Directions on Fraud Risk Management, 2024 2024
- Direction RBI Master Direction Information Technology Governance, Risk, Controls and Assurance Practices, 2023 2023
- Direction RBI Master Direction NBFC Scale Based Regulation, 2023 2023
- Direction RBI Master Direction on Outsourcing of Information Technology Services, 2023 2023
- Direction RBI Master Direction Know Your Customer (KYC) Direction, 2016 2016
- Act Payment and Settlement Systems Act, 2007 2007
- Act Credit Information Companies (Regulation) Act, 2005 2005
- Act Foreign Exchange Management Act, 1999 (FEMA) 1999
- Act Banking Regulation Act, 1949 1949
- Act Reserve Bank of India Act, 1934 1934
Enforcement by this regulator
The latest 10 of 23 — see all 23 on the Enforcement tab.
| Date | Entity | Action | Penalty | Source |
|---|---|---|---|---|
| 22 Sep 2026 | Hero Fincorp Limited (NBFC) | Monetary Penalty | 1,000,000 INR | official |
| 14 Aug 2026 | Northern Arc Capital Limited (NBFC) | Monetary Penalty | 620,000 INR≈ 6,458 USD | official |
| 14 Aug 2026 | Fusion Finance Limited (NBFC) | Monetary Penalty | 270,000 INR≈ 2,813 USD | official |
| 14 Aug 2026 | Muthoot MCred Limited (NBFC) | Monetary Penalty | 310,000 INR≈ 3,229 USD | official |
| 13 Jul 2026 | Satya MicroCapital Limited (NBFC) | Monetary Penalty | 310,000 INR≈ 3,229 USD | official |
| 10 Jul 2026 | Avail Financial Services Limited (NBFC) | Monetary Penalty | 620,000 INR≈ 6,458 USD | official |
| 10 Jul 2026 | Muthoot Finance Limited (NBFC) | Monetary Penalty | 580,000 INR≈ 6,042 USD | official |
| 24 Jun 2026 | GIC Housing Finance Limited (Housing finance company) | Monetary penalty | 310,000 INR | official |
| 30 Mar 2026 | Airtel Payments Bank Limited (Payments Bank) | Monetary Penalty | 3,180,000 INR≈ 33,125 USD | official |
| 27 Mar 2026 | Union Bank of India (Public Sector Bank) | Monetary Penalty | 9,540,000 INR≈ 99,375 USD | official |
Deadlines owned by this regulator
| Due | Filing | Frequency | Industry | Source |
|---|---|---|---|---|
| 15 Oct 2026 | CRILC Main Return (large exposures ≥ ₹5 crore)As per RBI guidelines, all financial institutions should file the CRILC Main Return for borrowers having total exposure of ₹5 crore and above. | Monthly | Banking | official |
| 15 Jul 2027 | FLA Return (Foreign Liabilities & Assets) to RBIFLA return is mandatory, and it should be filed annually on or before July 15th by the Indian entity having FDI/ODI up to March 31st. | Annual | Corporates (Listed) | official |
Latest news
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India's external debt rises to $778.2 billion at June 2026
1 Oct 2026
Reserve Bank of India issued the Quarterly Report on External Debt as of the end of June 2026. The total external debt of India has increased to $778.2 billion, up by $15.4 billion. The external debt-to-GDP ratio has de…
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RBI finalizes Basel III market risk capital requirements for banks
26 Sep 2026
The Reserve Bank of India has issued final Directions on minimum capital requirements for market risk under the revised Basel III framework, effective April 1, 2027. The framework adopts the Simplified Standardised Appr…
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RBI penalizes gold-loan fintech KLM Axiva Finvest Limited for auction surplus non-payment
26 Sep 2026
The Reserve Bank of India imposed a monetary penalty of ₹2.70 lakh on KLM Axiva Finvest Limited for regulatory non-compliance discovered during statutory inspection. The company failed to remit surplus amounts to borrow…
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RBI penalizes Hero Fincorp for excess interest collection breaches
26 Sep 2026
The Reserve Bank of India imposed a monetary penalty of 10 lakh rupees on Hero Fincorp Limited on September 22, 2026, following supervisory findings of non-compliance with RBI's "Fair Practices Code for Lenders – Chargi…
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RBI penalizes Ola Financial Services for KYC compliance failures
25 Sep 2026
The Reserve Bank of India imposed a monetary penalty of ₹3.10 lakh on Ola Financial Services Private Limited for non-compliance with KYC directions under the Payment and Settlement Systems Act, 2007. Following a statuto…
Related regulators
Others in India supervising overlapping sectors.