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Master Directions
The Reserve Bank of India has started issuing Master Directions on all regulatory matters beginning January 2016. The Master Directions consolidate instructions on rules and regulations framed by the Reserve Bank under various Acts including banking issues and foreign exchange transactions.
The process of issuing Master Directions involves issuing one Master Direction for each subject matter covering all instructions on that subject. Any change in the rules, regulation or policy is communicated during the year by way of circulars/press releases. The Master Directions will be updated suitably and simultaneously whenever there is a change in the rules/regulations or there is a change in the policy. All the changes will get reflected in the Master Directions available on the RBI website along with the dates on which changes are made.
Explanations of rules and regulations will be issued by way of Frequently Asked Questions (FAQs) after issue of the Master Directions in easy to understand language wherever necessary. The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.
Master Directions
RBI/DoR/2025-26/152 DoR.CRE.REC.71/08.12.014/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks-Resource Raising Norms) Directions, 2025 Table of Contents Chapter I- Preliminary 2 A. Short Title and Commencement 2 B. Applicability 2 Chapter II- Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors 3 Chapter III- Repeal and Other Provisions 7 A. Repeal and Saving 7 B. Application of other laws not barred 7 C. Interpretations 7
RBI/DoR/2025-26/152 DoR.CRE.REC.71/08.12.014/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks-Resource Raising Norms) Directions, 2025 Table of Contents Chapter I- Preliminary 2 A. Short Title and Commencement 2 B. Applicability 2 Chapter II- Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors 3 Chapter III- Repeal and Other Provisions 7 A. Repeal and Saving 7 B. Application of other laws not barred 7 C. Interpretations 7
পিডিএফ (RBI/DOR/2025-26/153 DOR.SOG(SPE).REC.72/13.03.00/ 2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Directions, 2025 Table of Contents Chapter I : Preliminary 3 A. Short Title and Commencement 3 B. Objective 3 C. Applicability 3 D. Definitions 3 Chapter II : General Guidelines (Interest Rate Framework) 6 Chapter III : Domestic Rupee Deposits 8 A. Interest Rate on Domestic Current Account 8 B. Interest Rate on Domestic Savings Deposit 8 C. Interest Rate on Domestic Term Deposits 8 D. Payment of Additional Interest on Domestic Deposits 9 E. Interest on Overdue Domestic Deposits 10 F. Floating Rate Domestic Term Deposits 11 G. Periodicity of Payment of Interest on Domestic Savings Deposit 11 H. Interest Payable on the Domestic Deposit Account of Deceased Depositor 11 I. Discretion to pay interest on the minimum credit balance in the composite cash credit account of a farmer 11 J. Penalty on Premature Withdrawal of Domestic Term Deposit 11 Chapter IV : Rupee Deposits of Non-Residents 13 A. Interest Rate on Rupee Deposits - Non-Residents 13 B. Prohibition on Marking Lien 14 C. Penalty on Premature Withdrawal of Non-Resident External (NRE) Deposits 14 D. Interest Payable on the Non-Resident External (NRE) Term Deposit Account of Deceased Depositor 14 Chapter V : Foreign Currency Deposits 15 A. Foreign Currency (Non-Resident) Accounts (Banks) Scheme 15 B. Manner of Calculation of Interest on Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Deposits 16 C. Calculation of Interest on Renewal of Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Deposits 16 D. Interest Payable on the Deposit of a Deceased Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Depositor 17 E. Payment of Interest on Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Deposits of Non-Resident Indians (NRIs) on Return to India 17 F. Conversion of Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Accounts of Returning Indians into Resident Foreign Currency (RFC) Accounts / Resident Rupee Accounts - Payment of Interest 18 G. Premature Withdrawal of Foreign Currency Deposits 18 H. Penalty on Premature Withdrawal of Foreign Currency Deposits 18 I. Resident Foreign Currency Accounts Scheme 19 Chapter VI : Prohibitions and Exemptions 20 A. Prohibitions 20 B. Exemptions 21 SCHEDULE- I 22 Chapter VII : Repeal and Other Provisions 23 A. Repeal and saving 23 B. Application of other laws not barred 23 C. Interpretations 24
RBI/DOR/2025-26/153 DOR.SOG(SPE).REC.72/13.03.00/ 2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Directions, 2025 Table of Contents Chapter I : Preliminary 3 A. Short Title and Commencement 3 B. Objective 3 C. Applicability 3 D. Definitions 3 Chapter II : General Guidelines (Interest Rate Framework) 6 Chapter III : Domestic Rupee Deposits 8 A. Interest Rate on Domestic Current Account 8 B. Interest Rate on Domestic Savings Deposit 8 C. Interest Rate on Domestic Term Deposits 8 D. Payment of Additional Interest on Domestic Deposits 9 E. Interest on Overdue Domestic Deposits 10 F. Floating Rate Domestic Term Deposits 11 G. Periodicity of Payment of Interest on Domestic Savings Deposit 11 H. Interest Payable on the Domestic Deposit Account of Deceased Depositor 11 I. Discretion to pay interest on the minimum credit balance in the composite cash credit account of a farmer 11 J. Penalty on Premature Withdrawal of Domestic Term Deposit 11 Chapter IV : Rupee Deposits of Non-Residents 13 A. Interest Rate on Rupee Deposits - Non-Residents 13 B. Prohibition on Marking Lien 14 C. Penalty on Premature Withdrawal of Non-Resident External (NRE) Deposits 14 D. Interest Payable on the Non-Resident External (NRE) Term Deposit Account of Deceased Depositor 14 Chapter V : Foreign Currency Deposits 15 A. Foreign Currency (Non-Resident) Accounts (Banks) Scheme 15 B. Manner of Calculation of Interest on Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Deposits 16 C. Calculation of Interest on Renewal of Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Deposits 16 D. Interest Payable on the Deposit of a Deceased Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Depositor 17 E. Payment of Interest on Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Deposits of Non-Resident Indians (NRIs) on Return to India 17 F. Conversion of Foreign Currency (Non-Resident) Accounts (Banks) {FCNR(B)} Accounts of Returning Indians into Resident Foreign Currency (RFC) Accounts / Resident Rupee Accounts - Payment of Interest 18 G. Premature Withdrawal of Foreign Currency Deposits 18 H. Penalty on Premature Withdrawal of Foreign Currency Deposits 18 I. Resident Foreign Currency Accounts Scheme 19 Chapter VI : Prohibitions and Exemptions 20 A. Prohibitions 20 B. Exemptions 21 SCHEDULE- I 22 Chapter VII : Repeal and Other Provisions 23 A. Repeal and saving 23 B. Application of other laws not barred 23 C. Interpretations 24
BI/DOR/2025-26/154 DOR.CRE.REC.73/07-01-001/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Credit Facilities) Directions, 2025 Table of Contents Chapter I - Preliminary 5 A. Short Title and Commencement 5 B. Applicability 5 C. Definitions 5 Chapter II - Role of The Board 12 Chapter III - Digital Lending Guidelines 13 A. General Requirements for bank-LSP Arrangements 13 B.
BI/DOR/2025-26/154 DOR.CRE.REC.73/07-01-001/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Credit Facilities) Directions, 2025 Table of Contents Chapter I - Preliminary 5 A. Short Title and Commencement 5 B. Applicability 5 C. Definitions 5 Chapter II - Role of The Board 12 Chapter III - Digital Lending Guidelines 13 A. General Requirements for bank-LSP Arrangements 13 B.
RBI/DOR/2025-26/155 DOR.AUT.REC.No.74/24-01-041/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 Table of Contents Chapter I – Preliminary 2 Chapter II – Conduct of Credit Card Business 6 Chapter III – Issue of Debit Card by Banks 21 Chapter IV – Form Factor 22 Chapter V – Co-branding Arrangement 23 Chapter VI – General Guidelines for Credit and Debit Cards 25 Chapter VII – Miscellaneous 31 Chapter VIII – Repeal and Other Provisions 34
RBI/DOR/2025-26/155 DOR.AUT.REC.No.74/24-01-041/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 Table of Contents Chapter I – Preliminary 2 Chapter II – Conduct of Credit Card Business 6 Chapter III – Issue of Debit Card by Banks 21 Chapter IV – Form Factor 22 Chapter V – Co-branding Arrangement 23 Chapter VI – General Guidelines for Credit and Debit Cards 25 Chapter VII – Miscellaneous 31 Chapter VIII – Repeal and Other Provisions 34
RBI/DOR/2025-26/156 DOR.FIN.REC.No.75/20.16.056/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Credit Information Reporting) Directions, 2025 Table of Contents Chapter-I Preliminary 3 A. Short title and commencement 3 B. Applicability 3 C. Definitions 3 Chapter-II Membership of CICs 5 Chapter-III Credit Information Reporting and Dissemination 6 A. Data formats 6 B. Reporting timelines and updation 6 C. Reporting guidelines 6 D. Rectification of rejected data and review of Data Quality Index (DQI) 13 E. Correction of Credit Information Report 13 F. Use of credit information reports in credit appraisal 13 G. Display of information 13 H. Applicability of other instructions issued by Department of Regulation 15 Chapter-IV Technical Working Group 17 Chapter-V Customer Service and Grievance Redressal 18 A. Strengthening of customer service 18 B. Framework for compensation to customers 20 C. Reserve Bank- Integrated Ombudsman Scheme, 2021 27 D. Appointment of Internal Ombudsman 27 Chapter-VI Best Practices 29 Chapter-VII Repeal and Other Provisions 30 A. Repeal and saving 30 B. Application of other laws not barred 30 C. Interpretations 31 Annex I 32 Annex II 63 Annex III 64 Annex IV 71 Annex V 72
RBI/DOR/2025-26/156 DOR.FIN.REC.No.75/20.16.056/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Credit Information Reporting) Directions, 2025 Table of Contents Chapter-I Preliminary 3 A. Short title and commencement 3 B. Applicability 3 C. Definitions 3 Chapter-II Membership of CICs 5 Chapter-III Credit Information Reporting and Dissemination 6 A. Data formats 6 B. Reporting timelines and updation 6 C. Reporting guidelines 6 D. Rectification of rejected data and review of Data Quality Index (DQI) 13 E. Correction of Credit Information Report 13 F. Use of credit information reports in credit appraisal 13 G. Display of information 13 H. Applicability of other instructions issued by Department of Regulation 15 Chapter-IV Technical Working Group 17 Chapter-V Customer Service and Grievance Redressal 18 A. Strengthening of customer service 18 B. Framework for compensation to customers 20 C. Reserve Bank- Integrated Ombudsman Scheme, 2021 27 D. Appointment of Internal Ombudsman 27 Chapter-VI Best Practices 29 Chapter-VII Repeal and Other Provisions 30 A. Repeal and saving 30 B. Application of other laws not barred 30 C. Interpretations 31 Annex I 32 Annex II 63 Annex III 64 Annex IV 71 Annex V 72
RBI/DOR/2025-26/157 DOR.CRE.REC.76/07-02-001/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Credit Risk Management) Directions, 2025 Table of Contents Chapter I - Preliminary 2 Chapter II - Board Approved Policies 7 Chapter III - Credit Risk Evaluation 8 Chapter IV - Statutory Restrictions 10 Chapter V - Regulatory Restrictions 16 Chapter VI - Country Risk Management
RBI/DOR/2025-26/157 DOR.CRE.REC.76/07-02-001/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Credit Risk Management) Directions, 2025 Table of Contents Chapter I - Preliminary 2 Chapter II - Board Approved Policies 7 Chapter III - Credit Risk Evaluation 8 Chapter IV - Statutory Restrictions 10 Chapter V - Regulatory Restrictions 16 Chapter VI - Country Risk Management
RBI/DOR/2025-26/158 DOR.CRE.REC.77/07-03-001/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Concentration Risk Management) Directions, 2025 Table of Contents Chapter I - Preliminary 2 Chapter II – Role of the Board 8 Chapter III - Large Exposures Framework 10 Chapter IV - Enhancing Credit Supply for Large Borrowers through Market Mechanism 35 Chapter V - Exposure Norms 36 Chapter VI - Prudential Limits on Intra-Group Transactions and Exposure 45 Chapter VII – Management of Country Risk Exposure 50 Chapter VIII - Prudential Limits for Inter-Bank Liabilities (IBL) 52 Chapter IX - Repeal and other provisions 53 Annex - I 54 Annex - II 56
RBI/DOR/2025-26/158 DOR.CRE.REC.77/07-03-001/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Concentration Risk Management) Directions, 2025 Table of Contents Chapter I - Preliminary 2 Chapter II – Role of the Board 8 Chapter III - Large Exposures Framework 10 Chapter IV - Enhancing Credit Supply for Large Borrowers through Market Mechanism 35 Chapter V - Exposure Norms 36 Chapter VI - Prudential Limits on Intra-Group Transactions and Exposure 45 Chapter VII – Management of Country Risk Exposure 50 Chapter VIII - Prudential Limits for Inter-Bank Liabilities (IBL) 52 Chapter IX - Repeal and other provisions 53 Annex - I 54 Annex - II 56
RBI/DOR/2025-26/159 DOR.STR.REC.No.78/21.04.048/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Directions, 2025 Table of Contents Chapter I - Preliminary 2 PART A - TRANSFER OF LOAN EXPOSURES 4 Chapter I - Scope and Definitions 4 Chapter II- General Conditions applicable for all loan transfers 9 Chapter III-Transfer of Loans which are not in default 13 Chapter IV- Transfer of stressed loans 19 PART B: CO-LENDING ARRANGEMENTS (CLAs) 30 Chapter I - Scope and Definitions 30 Chapter II- Prudential Norms 31 PART C - OTHER TYPES OF LENDING AND RISK TRANSFER ARRANGEMENTS 36 Chapter I – Lending under Consortium / Multiple Banking Arrangements 36 Chapter II – Inter-Bank Participations 37 Chapter III– Transfer of Borrower Accounts at the Request/Instance of Borrower 40 PART D: REPEAL AND OTHER PROVISIONS 41 Annex I 43 Annex II 46 Annex III 53
RBI/DOR/2025-26/159 DOR.STR.REC.No.78/21.04.048/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Transfer and Distribution of Credit Risk) Directions, 2025 Table of Contents Chapter I - Preliminary 2 PART A - TRANSFER OF LOAN EXPOSURES 4 Chapter I - Scope and Definitions 4 Chapter II- General Conditions applicable for all loan transfers 9 Chapter III-Transfer of Loans which are not in default 13 Chapter IV- Transfer of stressed loans 19 PART B: CO-LENDING ARRANGEMENTS (CLAs) 30 Chapter I - Scope and Definitions 30 Chapter II- Prudential Norms 31 PART C - OTHER TYPES OF LENDING AND RISK TRANSFER ARRANGEMENTS 36 Chapter I – Lending under Consortium / Multiple Banking Arrangements 36 Chapter II – Inter-Bank Participations 37 Chapter III– Transfer of Borrower Accounts at the Request/Instance of Borrower 40 PART D: REPEAL AND OTHER PROVISIONS 41 Annex I 43 Annex II 46 Annex III 53
RBI/DOR/2025-26/160 DOR.STR.REC.79/21.04.177/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Securitisation Transactions) Directions, 2025 Table of Contents Chapter I- Preliminary 3 A. Short title and commencement 3 B. Applicability 3 C. Definitions 3 Chapter II - General requirements for securitisation 9 A. Assets eligible for securitisation 9 B. Minimum Retention Requirement (MRR) 10 C. Origination Standards 12 D. Payment priorities and observability 12 E. Limit on Total Retained Exposures by Originators 13 F. Issuance and Listing 14 G. Conditions to be satisfied by the special purpose entity 14 H. Representations and Warranties 15 I. Accounting Provisions 16 Chapter III - Simple, transparent and comparable (STC) securitisations 18 A. STC Securitisations- Criteria for regulatory capital purposes 18 B. Disclosure and Prudential Oversight for STC Securitisations 27 Chapter IV - Provision of facilities supporting securitisation structures 29 A. General Conditions 29 B. Credit Enhancement Facilities 30 C. Reset of credit enhancements 31 D. Liquidity Facilities 33 E. Underwriting Facilities 35 F. Servicing Facilities 35 Chapter V - Requirements to be met by a bank who is an investor in securitisation exposures 37 A. Due Diligence Requirements 37 B. Stress Testing 38 C. Credit monitoring and valuation 39 Chapter VI - Capital requirements for Securitisation exposures and Disclosures Norms 40 A. Capital requirements for securitisation exposures 40 B. Disclosures 40 Chapter VII - Repeal and other provisions 42 A. Repeal and saving 42 Application of other laws not barred 42 B. Interpretations 42 Annex I 44
RBI/DOR/2025-26/160 DOR.STR.REC.79/21.04.177/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks – Securitisation Transactions) Directions, 2025 Table of Contents Chapter I- Preliminary 3 A. Short title and commencement 3 B. Applicability 3 C. Definitions 3 Chapter II - General requirements for securitisation 9 A. Assets eligible for securitisation 9 B. Minimum Retention Requirement (MRR) 10 C. Origination Standards 12 D. Payment priorities and observability 12 E. Limit on Total Retained Exposures by Originators 13 F. Issuance and Listing 14 G. Conditions to be satisfied by the special purpose entity 14 H. Representations and Warranties 15 I. Accounting Provisions 16 Chapter III - Simple, transparent and comparable (STC) securitisations 18 A. STC Securitisations- Criteria for regulatory capital purposes 18 B. Disclosure and Prudential Oversight for STC Securitisations 27 Chapter IV - Provision of facilities supporting securitisation structures 29 A. General Conditions 29 B. Credit Enhancement Facilities 30 C. Reset of credit enhancements 31 D. Liquidity Facilities 33 E. Underwriting Facilities 35 F. Servicing Facilities 35 Chapter V - Requirements to be met by a bank who is an investor in securitisation exposures 37 A. Due Diligence Requirements 37 B. Stress Testing 38 C. Credit monitoring and valuation 39 Chapter VI - Capital requirements for Securitisation exposures and Disclosures Norms 40 A. Capital requirements for securitisation exposures 40 B. Disclosures 40 Chapter VII - Repeal and other provisions 42 A. Repeal and saving 42 Application of other laws not barred 42 B. Interpretations 42 Annex I 44
RBI/DOR/2025-26/161 DOR.CRE.REC.80./13.03.000/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Interest Rates on Advances) Directions, 2025 Table of Contents Chapter I - Preliminary 2 Chapter II - General guidelines 4 Chapter III - Benchmark 6 Chapter IV - Other aspects of lending rates 10 Chapter V - Foreign Currency Advances 13 Chapter VI - Exemptions 14 Chapter VII - Repeal and Other Provisions 16 Annex 18
RBI/DOR/2025-26/161 DOR.CRE.REC.80./13.03.000/2025-26 November 28, 2025 Reserve Bank of India (Commercial Banks - Interest Rates on Advances) Directions, 2025 Table of Contents Chapter I - Preliminary 2 Chapter II - General guidelines 4 Chapter III - Benchmark 6 Chapter IV - Other aspects of lending rates 10 Chapter V - Foreign Currency Advances 13 Chapter VI - Exemptions 14 Chapter VII - Repeal and Other Provisions 16 Annex 18
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