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<h1>SEBI Circular: New Disclosure Rules for NBFCs on Public Debt Securities to Align with RBI Guidelines Effective Nov 2015.</h1> The circular issued by SEBI mandates additional disclosures for Non-Banking Financial Companies (NBFCs) in offer documents for public debt securities, aligning with RBI guidelines. Key modifications include detailing aggregated exposure to top borrowers and loans classified as non-performing. NBFCs must disclose onward lending to group entities and provide a portfolio summary of borrowings, secured versus unsecured borrowings, and changes in promoter holdings. These requirements aim to enhance transparency for investors. The circular applies to offer documents filed from November 1, 2015, and includes a draft template for disclosures, focusing on loan classifications, sectoral exposure, and geographical distribution.