Search: revolving credit
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August 2026
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FEMA & RBIRBI draft proposes NBFCs offer only term loans, no revolving credit — credit-card NBFCs excepted; comment window closed on 28 August 2026
Draft: no revolving creditComments invitedRBI released draft amendment directions on 6 August 2026 proposing that an NBFC offer only credit products in the nature of term loans and no revolving credit products, except an NBFC authorised by RBI to issue credit cards. The draft defines “term loan” and “revolving credit” and proposes to delete the demand/call loan provisions. Comments were invited by 28 August 2026; that window has closed.
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