The Reserve Bank of India has issued the Draft Reserve Bank of India (Housing Finance Companies) Amendment Directions, 2026, revising the regulatory framework governing advertising, marketing, and sales practices of Housing Finance Companies (HFCs). Earlier instructions were contained in Chapter X (Fair Practices Code) of the RBI (Housing Finance Companies) Directions, 2025. Following a review, RBI has decided to consolidate and harmonize these provisions under the broader RBI (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025. Accordingly, the existing sub-sections relating to advertising, marketing, sales, and code of conduct for Direct Selling Agents (DSAs) and Direct Marketing Agents (DMAs) are deleted and replaced with a provision mandating HFCs to comply with paragraphs 101A to 101ZB of the NBFC Responsible Business Conduct Directions. Issued under Section 30A of the National Housing Bank Act, 1987, the amendment will come into effect from July 1, 2026, ensuring uniform standards across NBFCs, including HFCs.
Reserve Bank of India
DOR.MCS.REC.No. /01-01-039/2025-26 | Dated: February 11, 2026
Draft Reserve Bank of India (Housing Finance Companies) Amendment Directions, 2026.
Reserve Bank had earlier issued instructions on ‘Advertising, Marketing and Sales’ to Housing Finance Companies (HFCs) under Chapter-X on ‘Fair Practices Code’ in Reserve Bank of India (Housing Finance Companies) Directions, 2025. The extant instructions have since been reviewed and it has been decided to issue comprehensive instructions on advertising, marketing and sale of financial product / service to all Non-Banking Financial Companies (NBFCs), including HFCs but excluding Core Investment Companies, NBFC-Account Aggregators and NBFCs not having any customer interface, under the Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025.
2. In exercise of the powers conferred by Section 30A of the National Housing Bank Act,1987, the Reserve Bank, being satisfied that it is necessary and expedient in public interest so to do, hereby issues the Amendment Directions hereinafter specified.
3. Short Title and Commencement
(1) These Directions shall be called the Reserve Bank of India (Housing Finance Companies) Amendment Directions, 2026.
(2) These Directions shall come into effect on July 1, 2026.
4. These Amendment Directions shall modify the Reserve Bank of India (Housing Finance Companies) Directions, 2025 as under:
(1) In Chapter-X on ‘Fair Practices Code’, the sub-sections A.10 Advertising, Marketing and Sales (paragraphs 150 to 154) and A.11 Code of Conduct for DSAs/DMAs (paragraphs 155 to 157) shall be deleted and substituted with a new sub-section as under:
“A.11A Advertising, Marketing and Sales of Financial Products / Services by HFCs 157A. An HFC shall ensure compliance with the provisions of paragraphs 101A to 101ZB under Chapter IIIA of Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025.”
(Veena Srivastava)
Chief General Manager
