Notifications

RBI/2025-26/XX DOR.STR.REC.No…………/2025-26 DD-MM-YY Reserve Bank of India (All India Financial Institutions -Asset Classification, Provisioning and Income Recognition) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.STR.REC.No…………/2025-26 DD-MM-YY Reserve Bank of India (Scheduled Commercial Banks-Asset Classification, Provisioning and Income Recognition) Directions, 2025 – Draft for Comments

RBI/2025-26/ DOR.CRG.REC…/21.06.201/2025-26 DD MM, YYYY Reserve Bank of India (Scheduled Commercial Banks - Capital Charge for Credit Risk – Standardised Approach) Directions, 2025 – Draft for Comments

A Scheme for resolving customer grievances in relation to services provided by entities regulated by Reserve Bank of India in an expeditious and cost-effective manner under Section 35A of the Banking Regulation Act, 1949 (10 of 1949), Section 45L of the Reserve Bank of India Act, 1934 (2 of 1934), Section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007) and Section 11 of the Credit Information Companies (Regulation) Act, 2005 (30 of 2005).

In exercise of the powers conferred by Section 35A of Banking Regulation Act, 1949, Section 45L read with 45M of the Reserve Bank of India Act, 1934, sub-section (1) of Section 11 of the Credit Information Companies (Regulation) Act, 2005 and Section 18 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India, being satisfied that it is necessary in the public interest to do so, hereby, issues the Directions hereinafter specified.

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (All India Financial Institutions - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Non-Banking Financial Companies - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Rural Co-operative Banks - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Urban Co-operative Banks - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Local Area Banks - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Regional Rural Banks - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Small Finance Banks - Lending to Related Parties) Directions, 2025 – Draft for Comments

RBI/2025-26/XX DOR.CRE.REC.No…………../2025-26 DD-MM-YY Reserve Bank of India (Commercial Banks - Lending to Related Parties) Directions, 2025 – Draft for Comments

Draft Amendment RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE Mumbai 400 001 Notification No. FEMA 3(R)(xxx)/2025-RB October xx, 2025 Foreign Exchange Management (Borrowing and Lending) (Fourth Amendment) Regulations, 2025 In exercise of the powers conferred by sub-section (2) of section 6, sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 (Notification No. FEMA 3(R)/ 2018-RB dated December 17, 2018) (hereinafter referred to as the ‘Principal Regulations’), namely:

DRAFT RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 22(XX)/2025-RB October XX, 2025 Foreign Exchange Management (Establishment in India of a branch or office) Regulations, 2025 In exercise of the powers conferred by sub-section (6) of Section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 22(R)/2016-RB dated March 31, 2016 , as amended from time to time, the Reserve Bank of India makes the following regulations to prohibit, restrict and regulate establishment in India of a branch or office by a person resident outside India (PROI).

RBI/2025-26/xxx DOR.MCS.REC /01.01.003/2025-26 DD-MM-YY Reserve Bank of India (Basic Savings Bank Deposit Account) Directions, 2025 – Draft for Comments I. Introduction The Basic Savings Bank Deposit (BSBD) Account is a savings bank account which offers certain minimum facilities, free of charge, to the holders of such accounts with an objective of deepening financial inclusion. The ongoing digitalisation of the banking sector requires a BSBD account that is in sync with the customer’s evolving requirements. Accordingly, to provide affordable banking facilities to public and in the interest of better customer service and to drive enhanced usage of BSBD accounts, it has been decided to review the extant instructions and issue directions as below for BSBD accounts.

RBI/2025-26/ DOR.CRE.REC. / 21.01.003/2025-26 DD-MM-YY All Scheduled Commercial Banks (excluding RRBs) Madam/ Dear Sir, Guidelines on Enhancing Credit Supply for Large Borrowers through Market Mechanism – Repeal Circular – Draft for Comments

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Payments Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Current Accounts 3 F. Exemptions 4 G. Compliance Monitoring 4 H. Other Restrictions 5

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Rural Co-operative Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Transaction Accounts 3 F. Exemptions 4 G. Compliance Monitoring 5 H. Other Restrictions 6

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Urban Co-operative Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Transaction Accounts 3 F. Exemptions 4 G. Compliance Monitoring 5 H. Other Restrictions 6 I. Repeal Provisions 7 Annex 1 8

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Local Area Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Transaction Accounts 3 F. Exemptions 4 G. Compliance Monitoring 5 H. Other Restrictions 6

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Regional Rural Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Transaction Accounts 3 F. Exemptions 4 G. Compliance Monitoring 5 H. Other Restrictions 6

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Small Finance Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Transaction Accounts 3 F. Exemptions 4 G. Compliance Monitoring 6 H. Other Restrictions 6

RBI/2025-26/<> DOR.CRE.REC.<>/21.08.008/2025-26 DD-MM-YY Reserve Bank of India (Commercial Banks – Transaction Accounts) Directions, 2025 – Draft for Comments Contents A. Introduction 2 B. Powers Exercised and Commencement 2 C. Scope 2 D. Definitions 2 E. Restrictions on Maintaining Transaction Accounts 3 F. Exemptions 4 G. Compliance Monitoring 6 H. Other Restrictions 6 I. Repeal Provisions 7 Annex 1 8

DoR.FIN.REC.No. XXX/20.16.056/2025-26 September 29, 2025 Reserve Bank of India (Credit Information Reporting) (1st Amendment) Directions, 2025 - DRAFT The Reserve Bank had issued Reserve Bank of India (Credit Information Reporting) Directions, 2025 (hereinafter referred to as Master Direction) for efficient functioning of credit information reporting system in the country. There is a need to further amend the same based on a review of the extant instructions.

RBI/2025-26/__ DOR.CRE.REC.__/21.01.003/2025-26 DD-MM-YY Guidelines on Management of Intragroup Transactions and Exposures (Amendment Circular), 2025 Please refer to Guidelines on Management of Intra-Group Transactions and Exposures (hereinafter referred to as the “ITE Circular”) dated February 11, 2014.

RBI/2025-26/__ DOR.CRE.REC.__/21.01.003/2025-26 DD-MM-YY Large Exposures Framework (Amendment Circular), 2025 Please refer to Large Exposures Framework dated June 3, 2019 (hereinafter referred to as the “LEF circular”) and Large Exposures Framework – Credit Risk Mitigation (CRM) for offsetting – non-centrally cleared derivative transactions of foreign bank branches in India with their Head Office dated September 9, 2021 (hereinafter referred to as the “LEF-CRM circular”).

RBI/2025-26/  DOR.CRE.REC. /23.67.001/2025-26 DD-MM-YY Reserve Bank of India (Gold Metal Loans) Directions, 2025 A. Introduction 1. The Gold Metal Loan (GML) scheme was launched in 1998 as per Export Import Policy 1997-2002 and the Hand Book of Procedures of the Exim Policy to address the need of working capital finance of the jewellery industry. Over time, the scope of the GML scheme has been broadened to cater to the changing business requirement of the jewellery industry. Prudential and conduct related guidelines have subsequently been issued to ensure that lenders manage the risks inherent in extending gold metal to borrowers as well as in sourcing the gold.

Draft for Comments RBI/2025-26/ DOR.MRG.REC.No. /00-00-020/2025-26 XX, 2025 All Scheduled Commercial Banks (excluding Payments Banks and Regional Rural Banks) Dear Sir/ Madam, Counterparty Credit Risk: Add-on factors for computation of Potential Future Exposure - Revised Instructions – Draft

RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 No. FEMA 8(R)/2025-RB August xx , 2025 Foreign Exchange Management (Guarantees) Regulations, 2025 In exercise of the powers conferred by sub-section (2) of Section 6 and sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA.8/2000-RB dated May 3, 2000, except as respects things done or omitted to be done before such supersession, the Reserve Bank of India makes the following regulations namely:

RBI/2025-26/ DoR.MCS.REC. /01.01.003/2025-26 August xx, 2025 Reserve Bank of India (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025

Draft Master Direction RBI/2025-26/ DOR.REG.No.XX/07.01.000/2025-26 July xx, 2025 Master Direction – Business Authorization for Co-operative Banks (Directions), 2025 In exercise of the powers conferred by Sections 23, 49B and 49C of the Banking Regulation Act, 1949 read with Section 56 thereof and Sections 42(6) and 42(6A) of Reserve Bank of India Act, 1934, the Reserve Bank of India (hereinafter called the Reserve Bank) being satisfied that it is necessary and expedient in the public interest to do so, hereby issues the Directions hereinafter specified.

Draft for Comments RBI/2025-26/xx DoR.RAUG.AUT.REC.Sxxxx/24.01.041/2025-26 July xx, 2025 Reserve Bank of India – Digital Banking Channels Authorisation Directions, 2025 In exercise of the powers conferred under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (hereinafter called the Act), the Reserve Bank, being satisfied that it is necessary and expedient in the public interest to do so, hereby, issues the following directions.

Draft RBI/2025-26/ XX A.P. (DIR Series) Circular No. XX XX XX, 2025 To, All Authorised Dealer Category-I Banks Madam / Sir, Export Data Processing and Monitoring System (EDPMS) – Closure of Shipping Bills – Review of Guidelines

RESERVE BANK OF INDIA FINANCIAL MARKETS REGULATION DEPARTMENT 9TH FLOOR, CENTRAL OFFICE, FORT MUMBAI 400 001 Reserve Bank of India (Novation of OTC Derivative Contracts) Directions, 2025 – Draft In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (hereinafter called the Act) read with section 45U of the Act and in supersession of the Directions indicated in Annex, the Reserve Bank of India (hereinafter called the Reserve Bank) hereby issues the following Directions. A reference is also invited to the Foreign Exchange Management Act, 1999 (42 of 1999) and Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification no. FEMA.25/RB-2000 dated May 3, 2000), as amended from time to time.

In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (hereinafter called the Act) read with section 45U of the Act and in supersession of the Directions indicated in Annex-I, the Reserve Bank of India (hereinafter called the Reserve Bank) hereby issues the following Directions. A reference is also invited to the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 (Notification No. FEMA 1 /2000-RB dated May 03, 2000) and Foreign Exchange Management (Debt Instruments) Regulations, 2019 (Notification No. FEMA 396/2019-RB dated October 17, 2019), as amended from time to time. a

DOR.SOG(LEG).REC/ XXX/ 09.08.024/2025-26 May XX, 2025 All Commercial Banks (including RRBs) and all Co-operative Banks Madam/ Dear Sir Inoperative Accounts/ Unclaimed Deposits in Banks - Revised Instructions (Amendment) 2025

DOR.AML.REC. XXX/14.01.001/2025-26 May xx, 2025 The Chairpersons/ CEOs of all the Regulated Entities Dear Sir/ Madam, Updation/ Periodic Updation of KYC – Revised Instructions Please refer to instructions on updation/ periodic updation of KYC as contained in paragraph 38 of Master Direction - Know Your Customer (KYC) Direction, 2016 dated February 25, 2016 (as amended from time to time).

RBI/2025-26/ DOR.STR.REC. /13.07.010/2025-26 ______, 2025 Reserve Bank of India (Non-Fund Based Credit Facilities) Directions, 2025

RBI/2025-26/ DOR.CRE.REC. /21.01.023/2025-26 ______, 2025 Reserve Bank of India (Lending Against Gold Collateral) Directions, 2025

RBI/2025-26/ DOR.STR.REC. /13.07.010/2025-26 ______, 2025 Reserve Bank of India (Co-Lending Arrangements) Directions, 2025

RBI/2025-26/ DOR.STR.REC. /13.07.010/2025-26 ______, 2025 Reserve Bank of India (Securitisation of Stressed Assets) Directions, 2025

Draft RBI/2025-26/XX A.P. (DIR Series) Circular No. XX April XX, 2025 All Authorised Dealers Madam / Sir, Export and Import of Goods and Services Reserve Bank of India, in exercise of the powers conferred under the Foreign Exchange Management Act, 1999 (42 of 1999) and the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025 hereby directs all Authorised Dealers (AD) to be guided by the following rules/regulations issued under Foreign Exchange Management Act, 1999 (FEMA) while handling transactions related to export and import of Goods and Services, including merchanting trade transactions.

Draft Notification No. FEMA XX/2025-RB April XX, 2025 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2025 In exercise of the powers conferred by Section 7, Section 8, sub-section (6) of Section 10 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of the Foreign Exchange Management (Export of Goods & Services) Regulations 2015 (Notification No. FEMA 23(R)/2015-RB dated January 12, 2016), except in respect of things done or omitted to be done before such supersession, Reserve Bank of India makes the following Regulations, namely:

DRAFT CIRCULAR RBI/2024-25/ DoR.MCS.REC. /01.01.001/2024-25 XXXXXX XX, 2025 All Scheduled Commercial Banks (excluding Payments Banks) All Local Area Banks All Primary (Urban) Co-operative Banks All State Co-operative Banks and Central Co-operative Banks All NBFCs (including HFCs) All India Financial Institutions (AIFIs) Madam/ Dear Sir

DRAFT CIRCULAR FOR COMMENTS CO.DPSS.POLC.No. S-**** / 02-14-003 / 2024-25 Date of Issue All Payment System Providers and Payment System Participants (banks and non-banks) Madam / Dear Sir, Additional Factor of Authentication (AFA) for cross-border Card Not Present (CNP) transactions - DRAFT

RBI/2024-25/ DOR.RAUG.AUT.REC.No. /24.01.041/2024-25 October 04, 2024 All Scheduled Commercial Banks (excluding Regional Rural Banks) All Non-Banking Financial Company (including Housing Finance Company) - group entities of Scheduled Commercial Banks All Non-Operative Financial Holding Companies Madam/Sir, Draft Circular - Forms of Business and Prudential Regulation for Investments In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 and Chapter IIIB of the Reserve Bank of India Act, 1934, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest to do so, hereby, amends the directions issued vide Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016 dated May 26, 2016.

DRAFT CIRCULAR FOR COMMENTS RBI/2024-25/ DOR.STR.REC. /21.04.048/2024-25  August 05, 2024 All Commercial Banks (including Regional Rural Banks and Local Area Banks) All Primary (Urban) Co-operative Banks All State Cooperative Banks & Central Cooperative Banks All Non-Banking Financial Companies (including Housing Finance Companies) All All-India Financial Institutions Madam/Dear Sir, Regulatory Principles for Management of Model Risks in Credit

DRAFT FRAMEWORK FOR COMMENTS CO.DPSS.POLC.No. S  **/ 02-14-015 / 2024-2025 Date of issue All Payment System Providers and Payment System Participants (banks and non-banks) Dear Sir / Madam, Framework on Alternative Authentication Mechanisms for Digital Payment Transactions - DRAFT

DRAFT DIRECTIONS FOR COMMENTS CO.DPSS.POLC.No. S **/ 02-01-001 / 2024-2025 Date of issue The Chairman / Managing Director / Chief Executive All Scheduled Commercial Banks including RRBs / Urban Cooperative Banks / State Cooperative Banks / District Central Cooperative Banks / National Payments Corporation of India (NPCI) Dear Sir / Madam, Aadhaar Enabled Payment System – Due Diligence of AePS Touchpoint Operators - DRAFT

Please refer to circular DBOD.BP.BC.No.120/21.04.098/2013-14 dated June 09, 2014 on ‘Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards’ and associated guidelines.

Notification No. FEMA XX/2024-RB July XX, 2024 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024 In exercise of the powers conferred by Section 7, Section 8, Section 10(6) and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of the Foreign Exchange Management (Export of Goods & Services) Regulations 2015 (Notification No. FEMA 23(R)/2015-RB dated January 12, 2016), except as respects things done or omitted to be done before such supersession, Reserve Bank of India makes the following Regulations 

RBI/2024-25/XX A.P. (DIR Series) Circular No. XX July XX, 2024 All Authorised Dealers - Category I banks Madam / Sir, Export and Import of Goods and Services Reserve Bank of India, in exercise of the powers conferred under Foreign Exchange Management Act 1999 (42 of 1999) and in supersession of Master Direction – Export of Goods and Services and Master Direction – Import of Goods and Services, hereby issues the directions on export and import of goods and services.

DRAFT FOR COMMENTS RBI/DOR/2024-25/ DOR.STR.REC. /21.04.048/2024-25 May 03, 2024 All Commercial Banks (including Small Finance Banks but excluding Payments Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks All All-India Financial Institutions All Non-Banking Financial Companies

In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (hereinafter called the Act) read with section 45U of the Act and of all the powers enabling it in this behalf and in supersession of the Electronic Trading Platform (Reserve Bank) Directions, 2018 dated October 05, 2018, the Reserve Bank of India (hereinafter called the Reserve Bank), hereby issues the following Directions to all entities operating Electronic Trading Platforms.

CO.DPSS.POLC.No. S-*** / 02-14-008 / 2024-25 Date of Issue All Payment System Providers and Payment System Participants Madam / Dear Sir, Regulation of Payment Aggregators (PAs) - DRAFT Reference is invited to the Reserve Bank of India (RBI) circulars DPSS.CO.PD.No.1810 / 02.14.008 / 2019-20 dated March 17, 2020, CO.DPSS.POLC.No.S33 / 02-14-008 / 2020-2021 dated March 31, 2021 on “Guidelines on Regulation of Payment Aggregators and Payment Gateways”, and circular CO.DPSS.POLC.No.S-761 / 02-14-008 / 2022-23 dated July 28, 2022 on “Regulation of Payment Aggregators – Timeline for submission of applications for authorisation – Review”. Keeping in view the importance of Payment Aggregators (PAs) in the payment ecosystem, these circulars provided for, inter-alia, direct regulation and authorisation of PAs facilitating payments at online Point of Sale by the RBI. 
 

CO.DPSS.POLC.No. S-*** / 02-14-008 / 2023-24 Date of Issue All Payment System Providers and Payment System Participants Madam / Dear Sir, Regulation of Payment Aggregators – physical Point of Sale - DRAFT

RBI/2023-24/ DOR.SFG.REC. /30.01.021/2023-24 February 28, 2024 All Scheduled Commercial Banks (excluding Local Area Banks, Payments Banks and Regional Rural Banks) All Tier-IV Primary (Urban) Co-operative Banks (UCBs) All All-India Financial Institutions (viz. EXIM Bank, NABARD, NaBFID, NHB and SIDBI)All Top and Upper Layer Non-Banking Financial Companies (NBFCs)

Please refer to paragraph 91.7 of Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 dated October 19, 2023 as per which Government owned NBFCs set up to serve specific sectors are permitted to approach the Reserve Bank for exemptions, if any, from credit/investment concentration norms. 

Please refer to our circular DOR.NBFC (HFC).CC.No.118/03.10.136/2020-21 dated October 22, 2020, issued after examination of inputs received on the draft regulatory framework for HFCs, which was placed in public domain on June 17, 2020.  Reference is invited to para 4 of the above circular advising that further harmonisation between the regulations of HFCs and NBFCs will be taken up in a phased manner in the next two years so as to ensure that the transition is achieved with least disruption.   

Technological innovations are reshaping the financial services landscape, with FinTechs emerging as disruptors and facilitators. FinTechs encompass diverse entities in terms of constitution, size, activities, domains, etc., all subject to constant flux and evolution. FinTechs play a pivotal role in redefining financial services by saving time, enhancing access, and lowering costs. At the same time, the sector raises concerns relating to customer protection, data privacy, cyber security, grievance handling, internal governance, financial system integrity, and the like. While the innovation and dynamism of FinTechs needs to be harnessed, the emerging risks require to be appropriately managed. In such a context, approach to regulation should be imaginative, adaptive, flexible, and proportionate to the perceived risks. In particular, an effective regulatory approach should maintain the balance between maximising the creative potential of FinTechs, while minimising the idiosyncratic risks they pose to the financial system. 

Draft Circular for comments DOR.ACC.REC.No.##/21.02.067/2023-24 January 2, 2024 Madam/ Dear Sir, Declaration of dividend by banks and remittance of profits to Head Office by foreign bank branches in India The Reserve Bank has granted general permission to all scheduled commercial banks [excluding regional rural banks (RRBs)] to declare dividends vide circular reference DBOD.NO.BP.BC.88/21.02.067/2004-05 dated May 4, 2005 on ‘Declaration of dividends by banks’. Similarly, foreign banks operating in India in the branch mode are permitted to remit profits to their head office without prior approval from the Reserve Bank pursuant to circular reference DBOD.No.IBS.BC.46/16.13.100/2003-04 dated November 6, 2003.

Framework for Dealing with Domestic Systemically Important Banks (D-SIBs) (Revised upto December 28, 2023[1]) Introduction Some banks, due to their size, cross-jurisdictional activities, complexity, lack of substitutability and interconnectedness, become systemically important. The disorderly failure of these banks has the potential to cause significant disruption to the essential services they provide to the banking system, and in turn, to the overall economic activity. Therefore, the continued functioning of Systemically Important Banks (SIBs) is critical for the uninterrupted availability of essential banking services to the real economy.

Reserve Bank of India (Bond Forwards) Directions, 2023 - Draft In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (hereinafter called the Act) read with section 45U of the Act, the Reserve Bank of India (hereinafter called the Reserve Bank) hereby issues the following Directions.

 Section 3(a) of Foreign Exchange Management Act, 1999 (‘’FEMA’’) stipulates:

‘Save as otherwise provided in this Act, rules or regulations made thereunder, or with the general or special permission of the Reserve Bank, no person shall deal in or transfer any foreign exchange or foreign security to any person not being an authorised person.’

Further, section 10(1) of FEMA, 1999 stipulates:

‘The Reserve Bank may, on an application made to it in this behalf, authorise any person to be known as authorised person to deal in foreign exchange or in foreign securities, as an authorised dealer, money changer or off-shore banking unit or in any other manner as it deems fit.’

2. The Reserve Bank issues authorisation in the form of a licence to Authorised Persons (APs), which includes authorised dealers and Full-Fledged Money Changers (FFMCs). Authorisation is also granted to select institutions to carry out specific foreign exchange transactions related to their business activities.

Draft Master Direction for Comments  All Commercial Banks (including Local Area Banks, Regional Rural Banks, Payments Banks, and Small Finance Banks) All-India Financial Institutions (viz. Exim Bank, NABARD, NHB, SIDBI, and NaBFID) All Non-Banking Financial Companies including Housing Finance Companies (HFCs) All Urban Co-operative Banks, State Co-operative Banks, and Central Co-operative Banks All Credit Information Companies

DoR.SIG.FIN.REC.xx/20.16.003/2023-24

September 21, 2023

Reserve Bank of India
(Treatment of Wilful Defaulters and Large Defaulters) Directions, 2023

In exercise of the powers conferred under Chapter III-A of the Reserve Bank of India Act, 1934, Section 21, Section 35-A read with Section 56 of the Banking Regulation Act, 1949 and Section 11 of the Credit Information Companies (Regulation) Act, 2005, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest to do so, hereby, issues the Directions hereinafter specified:

Objective

The primary objective of these Directions is to provide for a non-discriminatory and transparent procedure, while complying with the principles of natural justice for classifying a borrower as a wilful defaulter by the lenders. The directions also aim to put in place a system to disseminate credit information about wilful defaulters for cautioning lenders to ensure that further institutional finance is not made available to them.

CHAPTER I
PRELIMINARY

1. Short Title and Commencement

(1) These Directions shall be called the Reserve Bank of India (Treatment of Wilful Defaulters and Large Defaulters) Directions, 2023.

(2) These Directions shall come into force after 90 days from placing it on the website of the Reserve Bank.

2. Applicability

(1) The provisions regarding wilful defaulters contained in these Directions shall apply to the ‘lenders’ as defined in these Directions.

(2) Asset Reconstruction Companies (ARCs), and Credit Information Companies (CICs) shall be bound by these Directions only with regard to the reporting requirements contained in Chapter III.

(3) The restrictions on further financial accommodation to wilful defaulters shall apply to all entities regulated by the Reserve Bank, irrespective of whether they fall within the definition of ‘lender’ as provided in these Directions or not.

(4) The provisions regarding large defaulters contained in these Directions shall apply to all entities regulated by the Reserve Bank, irrespective of whether they fall within the definition of ‘lender’ as provided in these Directions or not.

3. Definitions

(1) In these Directions, unless the context or subject otherwise requires, -

(a) “All India Financial Institution (AIFI)”1 means -

1. Export Import Bank of India (EXIM Bank);

2. National Bank for Agriculture and Rural Development (NABARD);

3. National Housing Bank (NHB);

4. Small Industries Development Bank of India (SIDBI); and

5. National Bank for Financing Infrastructure and Development (NaBFID).

(b) “bank” means -

Draft Circular for Comments CO.DPSS.POLC.No. S-**** /02-14-003/2023-24 July 05, 2023 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Providers / Participants (Banks and Non-banks) Madam / Dear Sir, Draft Circular - Arrangements with Card Networks for issue of Debit, Credit and Prepaid Cards The authorised card networks1 tie-up with banks / non-banks for issuance of debit / credit / prepaid cards. The choice of affiliated network2 f

Draft Master Directions for Comments CO.DPSS.OVRST.No.xx / xxxx / 2023-24 June 02, 2023 The Chairman / Managing Director / Chief Executive Officer Authorised Non-bank Payment System Operators Madam / Dear Sir, Draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators Ensuring safety and security of payment systems is a key objective of the Reserve Bank. To ensure that the authorised non-bank Payment System Operators

DRAFT CIRCULAR FOR COMMENTS RBI/2023-24/ DoR.MCS.REC./01.01.001/2023-24 April 12, 2023 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks, excluding Payments Banks) All Primary (Urban) Co-operative BanksAll NBFCs (including HFCs) andAll India Financial Institutions (EXIM Bank, NABARD, NHB, SIDBI and NaBFID) Dear Sir / Madam, Fair Lending Practice - Penal Charges in Loan Accounts Reserve Bank has issued various guidelines to

The contents of these Guidelines shall be read along with Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023, and applicable provisions of the Banking Regulation Act, 1949. Prior approval for acquisition of shares or voting rights in a banking company 2. In terms of sub-section (1) of Section 12B of Banking Regulation Act, 1949, every person, who intends to acquire shares or voting rights and intends to be

RBI/2022-23/xx DoS.CO.CSITEG/SEC.xx/31.01.015/2022-23 June 23, 2022 The Chairman/Managing Director/Chief Executive Officer Scheduled Commercial Banks (excluding Regional Rural Banks); Local Area Banks; Small Finance Banks; Payments Banks; Primary (Urban) Co-operative Banks having asset size of ₹1000 crore and above; Non-Banking Financial Companies in Top, Upper and Middle Layers; Credit Information Companies; and All India Financial Institutions (NHB, NABARD, SIDBI, E

FINANCIAL MARKETS REGULATION DEPARTMENT Master Direction – Reserve Bank of India (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2022 – Draft In exercise of the powers conferred under section 45W of the Reserve Bank of India Act, 1934 (02 of 1934) (hereinafter called the Act) read with section 45U of the Act, the Reserve Bank of India (hereinafter called the Reserve Bank) hereby issues the following Directions. A reference is invited to the Foreign E

As part of convergence of the Reserve Bank’s regulations for banks with Basel III standards, the Reserve Bank of India has today placed on its website ‘Draft Master Direction on Minimum Capital Requirements for Operational Risk’ for comments of stakeholders and members of the public. These directions shall be applicable to all Commercial Banks (excluding Local Area Banks, Payments Banks, Regional Rural Banks, and Small Finance Banks).

Draft Circular All Non-Banking Financial Companies (NBFCs) Madam / Dear Sir, Declaration of Dividend by NBFCs In order to infuse greater transparency and uniformity in practice, it has been decided to prescribe guidelines on distribution of dividend by NBFCs. NBFCs may declare dividend, subject to compliance with the guidelines laid down below: 2. Eligibility criteria for declaration of dividend Only those NBFCs, which comply with the following minimum prudential requ

RBI releases “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”

I. Introduction The Reserve Bank had issued the Guidelines for Licensing of “Small Finance Banks” in the Private Sector on November 27, 2014. The process of licensing culminated in granting in-principle approval to ten applicants and they have since established the banks. It was notified in these Guidelines that after gaining experience in dealing with these banks, the Reserve Bank will consider ‘on tap’ licensing of these banks. After a review of the performance of t