Fair Practices Code Review: due date and penalty
Also searched as: NBFC-FPC
Annual board review of the Fair Practices Code covering loan appraisal, terms and conditions, recovery practices and grievance redressal, and its publication in the vernacular language.
Next due date
30 June 2027for FY 2027-28
If it is late: Supervisory action, and customer compensation awarded by the RBI Ombudsman — ₹1,00,000
Get told before Fair Practices Code Review is due
We will email you a week before the next one, and before each one after that.
One email per occurrence of Fair Practices Code Review, and nothing else unless you tick the box above — and your address is never sold or passed on. We send a link to confirm first, and nothing goes out until you follow it. Every message has a one-click link to stop. See the Privacy Policy.
- Due
- 30 Jun each year
- Frequency
- Annual
- If it lapses
- Supervisory action, and customer compensation awarded by the RBI Ombudsman — ₹1,00,000
- Statutory reference
- Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions 2025
Where this date comes from
- The instrument
- Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions 2025
- The authority
- Reserve Bank of India
Mallah Software Services Private Limited has not independently verified this against the gazette. The citation above is the instrument this date is taken from, and it is exact enough for a professional to check. Inside Lawzer a company secretary or chartered accountant can record that they have checked it, against the rule as it read on the day — and that record is withdrawn automatically if the rule later changes. A date nobody has checked says so.
Who has to file it
Every one of these has to hold before Fair Practices Code Review binds an entity:
- RBI-registered NBFC
- Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL)
- Usually owned by:
- Company Secretary
- Typical effort:
- 3 hours
Common questions
- What is the due date of Fair Practices Code Review?
- It is next due on 30 Jun 2027, for FY 2027-28. 30 Jun each year. It falls due once a year.
- Who has to file Fair Practices Code Review?
- It applies to RBI-registered NBFC and Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL).
- What is the penalty for filing Fair Practices Code Review late?
- Supervisory action, and customer compensation awarded by the RBI Ombudsman — ₹1,00,000
This is the standing statutory position. The government extends deadlines often, and an extension is not reflected here until the rule is updated. Mallah Software Services Private Limited is a software company and not a firm of company secretaries or chartered accountants — nothing here is legal, tax or secretarial advice. Confirm the date with your professional before relying on it. See the Professional Disclaimer.