Type of Document: Circular
Circular Date: 01-01-2025
Circular No.: RBI/2024-25/101 | FMRD.DIRD.No.09/14.03.004/2024-25
Relevant Act/Rule: Reserve Bank of India, 1934
Relevant Section(s)/Rule(s): Sections 45L, 45N
This circular provides directions permitting the National Bank for Financing Infrastructure and Development (NaBFID) to participate in financial markets as an All-India Financial Institution (AIFI), as regulated under the Reserve Bank of India Act, 1934.
Key Provisions:
NaBFID will be supervised and regulated as an AIFI under Sections 45L and 45N of the Act.
It is authorized to undertake credit default swap and repo transactions, as per:
1. Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022
2. Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 (Updated as of November 28, 2019).
These updates clarify NaBFID’s participation as an AIFI in financial markets regulated by the RBI.
Directions are applicable immediately.
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