The full form of MNBCs is Miscellaneous Non-Banking Companies

The Reserve Bank of India (the Bank), having considered it necessary in the public interest and being satisfied that for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to give the directions set out below, in exercise of the powers conferred by sections 45J, 45JA, 45K and 45L of the Reserve Bank of India Act, 1934 (Act 2 of 1934) (the RBI Act),and of all the powers enabling it in this behalf, and in supersession of the earlier Directions contained in Notification No.DNBC.39/DG (H)-77 dated 20th June 1977 as amended from time to time issues the following Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 2016 (the Directions) applicable to every miscellaneous non-banking company hereinafter specified.