The Reserve Bank of India has today, issued three revised Master Directions on Fraud Risk Management for the Regulated Entities viz. (i) Commercial Banks (including Regional Rural Banks) and All India Financial Institutions; (ii) Cooperative Banks (Urban Cooperative Banks / State Cooperative Banks / Central Cooperative Banks); and (iii) Non-Banking Finance Companies (including Housing Finance Companies).

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Mahabhairab Co-operative Urban. Bank Ltd. Tezpur, Assam vide Directive GWH.DOS.ADM.No.S163/01-10-101/2023-24 dated October 12, 2023, for a period of six months from the close of business on October 12, 2023, as modified from to time, which were last extended up to close of business on July 12, 2024 vide Directive DOR.MON.D-02/12.22.804/2024-25 dated April 10, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on July 12, 2024.