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RBI Master Direction Overview

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 The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.

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Master Directions

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Aug 22, 2022
Foreign Exchange Management (Overseas Investment) Directions, 2022 (dated August 22, 2022) (Supersedes Master Direction - Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad (Updated as on June 24, 2021))
RBI/2022-2023/110 A.P. (DIR Series) Circular No.12 August 22, 2022 All Category – I Authorised Dealer Banks Madam/Sir Foreign Exchange Management (Overseas Investment) Directions, 2022 Overseas investments by persons resident in India enhance the scale and scope of business operations of Indian entrepreneurs by providing global opportunities for growth. Such ventures through easier access to technology, research and development, a wider global market and reduced cost
RBI/2022-2023/110 A.P. (DIR Series) Circular No.12 August 22, 2022 All Category – I Authorised Dealer Banks Madam/Sir Foreign Exchange Management (Overseas Investment) Directions, 2022 Overseas investments by persons resident in India enhance the scale and scope of business operations of Indian entrepreneurs by providing global opportunities for growth. Such ventures through easier access to technology, research and development, a wider global market and reduced cost
Jun 01, 2022
Master Direction - Reserve Bank of India (Variation Margin) Directions, 2022
RBI/2022-23/93 FMRD.DIRD.02/14.01.023/2022-23 June 01, 2022 To All Eligible Market Participants Madam/Sir Master Direction – Reserve Bank of India (Variation Margin) Directions, 2022 Please refer to Paragraph 10 of the Statement on Developm
RBI/2022-23/93 FMRD.DIRD.02/14.01.023/2022-23 June 01, 2022 To All Eligible Market Participants Madam/Sir Master Direction – Reserve Bank of India (Variation Margin) Directions, 2022 Please refer to Paragraph 10 of the Statement on Developm
Apr 21, 2022
UPDATED: 7 Mar, 2024
Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022 (Updated as on March 07, 2024)

RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23 April 21, 2022 Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 In exercise of the powers conferred by Sections 35A and Section 56 of the Banking Regula

RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23 April 21, 2022 Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 In exercise of the powers conferred by Sections 35A and Section 56 of the Banking Regula

Apr 21, 2022
UPDATED: 7 Mar, 2024
Master Direction - Credit Card and Debit Card - Issuance and Conduct Directions, 2022 (Updated as on March 07, 2024)

RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23 April 21, 2022 Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 In exercise of the powers conferred by Sections 35A and Section 56 of the Banking Regula

RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23 April 21, 2022 Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 In exercise of the powers conferred by Sections 35A and Section 56 of the Banking Regula

Apr 01, 2022
Master Direction on Penal Provisions in deficiencies in reporting of transactions/ balances at Currency Chests
RBI/2022-23/91 DCM (CC) No.G-4/03.35.01/2022-23 April 01, 2022 The Chairman/ Managing Director/Chief Executive Officer (All banks having Currency Chests) Madam / Dear Sir Master Direction on Penal Provisions in deficiencies in reporting of
RBI/2022-23/91 DCM (CC) No.G-4/03.35.01/2022-23 April 01, 2022 The Chairman/ Managing Director/Chief Executive Officer (All banks having Currency Chests) Madam / Dear Sir Master Direction on Penal Provisions in deficiencies in reporting of
Mar 14, 2022
UPDATED: 25 Jul, 2022
Master Direction - Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022 (Updated as on July 25, 2022)
RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 March 14, 2022 (Updated as on July 25, 2022) All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payments Banks All Primary (Urban) Co
RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 March 14, 2022 (Updated as on July 25, 2022) All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payments Banks All Primary (Urban) Co
Feb 10, 2022
Master Direction - Reserve Bank of India (Credit Derivatives) Directions, 2022
RBI/2021-22/88 FMRD.DIRD.10/14.03.004/2021-22 February 10, 2022 To, All Eligible Market Participants Madam/Sir, Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022 Please refer to Paragraph 4 of the Statement on D
RBI/2021-22/88 FMRD.DIRD.10/14.03.004/2021-22 February 10, 2022 To, All Eligible Market Participants Madam/Sir, Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022 Please refer to Paragraph 4 of the Statement on D
Oct 26, 2021
UPDATED: 8 Apr, 2024
Master Direction - Prudential Norms on Capital Adequacy for Local Area Banks (Directions), 2021 (Updated as on April 08, 2024)

RBI/DOR/2021-22/87 DOR.CAP.REC.No.61/21.01.002/2021-22 October 26, 2021 (Updated as on March 31, 2022) All Local Area Banks Dear Sir / Madam, Master Direction – Prudential Norms on Capital Adequacy for Local Area Banks (Directions), 2021 Th

RBI/DOR/2021-22/87 DOR.CAP.REC.No.61/21.01.002/2021-22 October 26, 2021 (Updated as on March 31, 2022) All Local Area Banks Dear Sir / Madam, Master Direction – Prudential Norms on Capital Adequacy for Local Area Banks (Directions), 2021 Th

Sep 24, 2021
UPDATED: 28 Dec, 2023
Master Direction - Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 (Updated as on December 28, 2023)
RBI/DOR/2021-22/86 DOR.STR.REC.51/21.04.048/2021-22 September 24, 2021 (Updated as on December 05, 2022) All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/
RBI/DOR/2021-22/86 DOR.STR.REC.51/21.04.048/2021-22 September 24, 2021 (Updated as on December 05, 2022) All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/

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