NBFC-FPCmediumReserve Bank of India
NBFC-FPC — Fair Practices Code Review
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.
- 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
- Master Direction — RBI (NBFC — Scale Based Regulation) Directions 2023
Who has to file it
Every one of these has to hold before NBFC-FPC 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
- When is NBFC-FPC due?
- 30 Jun each year. It falls due once a year.
- Who has to file NBFC-FPC?
- 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 NBFC-FPC 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.