New Delhi, Feb. 28 -- Fresh directions issued by the Reserve Bank of India (RBI) on credit facilities to capital market intermediaries (CMIs) are set to significantly alter the operating landscape for proprietary trading firms, according to a credit alert released by Crisil Ratings Limited.
The RBI's "Commercial Banks - Credit Facilities Amendment Directions", released on February 13 and effective from April 1, 2026, introduced a dedicated chapter on credit facilities to CMIs.
While banks may adopt the framework earlier, the new norms primarily redefine permissible credit exposure and collateral requirements for intermediaries operating in the capital markets.
CRISIL's initial assessment indicates that the most pronounced impact will be ...