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RBI Master Circulars / Directions for 2025-26

[Last updated on December 12, 2025]

RBI Master Circulars / Directions for 2024-25

Master Directions

Master Circulars

Guidance Notes

RBI Handbook on Regulations at a Glance

  ICAI Guidance Note on Audit of Banks (2025 Edition) 

 


 

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 The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject. 

For the sake of convenience for users, all Master Directions have been listed here:

  Date of Publication
Banker and Debt Manager to Government  
Master Directions on Relief/Savings Bonds Jul 03, 2018
Master Direction – Operational Guidelines for Primary Dealers (Updated as on November 22, 2018) Jul 01, 2016
Consumer Education and Protection  
Master Direction - Reserve Bank of India (Internal Ombudsman for Regulated Entities) Directions, 2023 Dec 29, 2023
Commercial Banks  
Reserve Bank of India (Commercial Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Forthcoming Instructions) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Climate Finance and Management of Climate Change Risks) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Prudential Norms on Declaration of Dividends and Remittance of Profit) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Interest Rates on Advances) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Securitisation Transactions) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Resource Raising Norms) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Undertaking of Financial Services) Directions, 2025 (Updated as on December 05, 2025) Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Setting Up of Wholly Owned Subsidiaries by Foreign Banks) Guidelines, 2025 Nov. 28, 2025
Reserve Bank of India (Universal Banks – Licensing) Guidelines, 2025 Nov. 28, 2025
Small Finance Banks  
Reserve Bank of India (Small Finance Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Climate Finance and Management of Climate Change Risks) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Prudential Norms on Declaration of Dividends) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Interest Rates on Advances) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Securitisation Transactions) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Resource Raising Norms) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Undertaking of Financial Services) Directions, 2025 (Updated as on December 05, 2025) Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Small Finance Banks – Licensing) Guidelines, 2025 Nov. 28, 2025
Payments Banks  
Reserve Bank of India (Payments Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Prudential Norms on Declaration of Dividends) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Payments Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Undertaking of Financial Services) Directions, 2025 (Updated as on December 05, 2025) Nov. 28, 2025
Reserve Bank of India (Payments Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Payments Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 Nov. 28, 2025
Local Area Banks  
Reserve Bank of India (Local Area Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Prudential Norms on Declaration of Dividends) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Interest Rates on Advances) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Local Area Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 Nov. 28, 2025
Regional Rural Banks  
Reserve Bank of India (Regional Rural Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Interest Rates on Advances) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Undertaking of Financial Services) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Regional Rural Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Urban Co-operative Banks  
Reserve Bank of India (Urban Co-operative Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Prudential Norms on Declaration of Dividends) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Interest Rates on Advances) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Credit Cards and Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Undertaking of Financial Services) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Urban Co-operative Banks – Licensing, Scheduling and Regulatory Classification) Guidelines, 2025 Nov. 28, 2025
Rural Co-operative Banks  
Reserve Bank of India (Rural Co-operative Banks – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Prudential Norms on Declaration of Dividends) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Interest Rates on Advances) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Debit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Interest Rate on Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2025 (Updated as on December 11, 2025) Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Undertaking of Financial Services) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Digital Banking Channels Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Rural Co-operative Banks – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
All India Financial Institutions  
Reserve Bank of India (All India Financial Institutions – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Securitisation Transactions) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions– Resource Raising Norms) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (All India Financial Institutions – Undertaking of Financial Services) Directions, 2025 Nov. 28, 2025
Non-Banking Financial Companies  
Reserve Bank of India (Non-Banking Financial Companies – Miscellaneous) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Operative Financial Holding Companies) Directions, 2025 (Updated as on December 05, 2025) Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Microfinance Institution) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Peer to Peer Lending Platform) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Mortgage Guarantee Companies) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies - Account Aggregator) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Core Investment Companies) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Standalone Primary Dealers) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Housing Finance Companies) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Climate Finance and Management of Climate Change Risks) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Declaration of Dividends) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Income Recognition, Asset Classification and Provisioning) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Asset Liability Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Classification, Valuation and Operation of Investment Portfolio) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Securitisation Transactions) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Transfer and Distribution of Credit Risk) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Concentration Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Credit Risk Management) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Credit Cards: Issuance and Conduct) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Acceptance of Public Deposits) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Prudential Norms on Capital Adequacy) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Governance) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Undertaking of Financial Services) Directions, 2025 (Updated as on December 05, 2025) Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Branch Authorisation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Voluntary Amalgamation) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Acquisition of Shareholding or Control) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025 Nov. 28, 2025
Asset Reconstruction Companies  
Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Asset Reconstruction Companies – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Asset Reconstruction Companies – Credit Information Reporting) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Asset Reconstruction Companies) Directions, 2025 Nov. 28, 2025
Credit Information Companies  
Reserve Bank of India (Credit Information Companies – Managing Risks in Outsourcing) Directions, 2025 Nov. 28, 2025
Reserve Bank of India (Credit Information Companies) Directions, 2025 Nov. 28, 2025
Co-operative Banking  
Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs) / State Cooperative Banks (StCBs) / Central Cooperative Banks (CCBs) Jul 15, 2024
Commercial Banking  
Master Directions on Fraud Risk Management in Commercial Banks (including Regional Rural Banks) and All India Financial Institutions Jul 15, 2024
Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions - 2024 Feb 27, 2024
Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices Nov 07, 2023
Master Direction on Digital Payment Security Controls Feb 18, 2021
Master Directions on Frauds – Classification and Reporting by commercial banks and select FIs (Updated as on July 03, 2017) Jul 01, 2016
Non-banking  
Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies) Jul 15, 2024
Master Direction - Information Technology Framework for the NBFC Sector Jun 08, 2017
Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016 Sep 29, 2016
Master Direction - Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016 Sep 29, 2016
Master Direction - Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016 Sep 29, 2016
Financial Inclusion and Development  
Master Directions - Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025 Mar 24, 2025
Master Directions – Priority Sector Lending (PSL) – Targets and Classification  [superseded by Master Directions - Reserve Bank of India (Priority Sector Lending – Targets and Classification) Directions, 2025] Sep 04, 2020
Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – RRBs Oct 17, 2018
Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – SCBs Oct 17, 2018
Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector (Updated as on July 23, 2025) Jul 24, 2017
Master Direction – Reserve Bank of India (Relief Measures by banks in areas affected by Natural Calamities) Directions 2017 Jul 05, 2017
Financial Market  
Master Direction – Reserve Bank of India (Rupee Interest Rate Derivatives) Directions, 2025 Dec 08, 2025
Master Direction – Reserve Bank of India (Repurchase Transactions (Repo)) Directions, 2025 Nov 11, 2025
Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2025 June 16, 2025
Master Direction - Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2025 Feb 7, 2025
Master Direction - Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions, 2025 (Updated as on October 3, 2025) Jan 7, 2025
Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2024 Oct 18, 2024
Master Direction – Reserve Bank of India (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2024 (Updated as on February 21, 2025) May 08, 2024
Master Direction – Reserve Bank of India (Commercial Paper and Non-Convertible Debentures of original or initial maturity upto one year) Directions, 2024 Jan 03, 2024
Master Direction – Foreign Exchange Management (Hedging of Commodity Price Risk and Freight Risk in Overseas Markets) Directions, 2022 (Updated as on April 15, 2024) Dec 12, 2022
Master Direction – Reserve Bank of India (Variation Margin) Directions, 2022 Jun 01, 2022
Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022 (Updated as on January 01, 2025) Feb 10, 2022
Master Direction – Reserve Bank of India (Market-makers in OTC Derivatives) Directions, 2021 (Updated as on February 21, 2025) Sep 16, 2021
Master Direction – Reserve Bank of India (Certificate of Deposit) Directions, 2021 Jun 04, 2021
Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2021 (Updated as on June 08, 2023) Apr 01, 2021
Master Direction on Money Market Instruments: Call/Notice Money Market, Commercial Paper, Certificates of Deposit and Non-Convertible Debentures (original maturity up to one year) Jul 07, 2016
Master Direction - Risk Management and Inter-Bank Dealings (Updated as on September 22, 2025) Jul 05, 2016
Foreign Exchange Management  
Master Directions - Compounding of Contraventions under FEMA, 1999, dated April 22, 2025 (Updated as on April 24, 2025)
(Supersedes Master Direction- Compounding of Contraventions under FEMA, 1999, (Updated as on May 24, 2022))
April 22, 2025
Master Direction - Overseas Investment (Updated as on November 28, 2025) Jul 24, 2024
Master Direction - Overseas Investment Jul 24, 2024
Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations (Updated as on December 22, 2023) (Supersedes Master Direction - External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers (Updated as on November 22, 2018)) Mar 26, 2019
Master Direction – Foreign Investment in India (Updated as on January 20, 2025) Jan 04, 2018
Master Direction – Money Transfer Service Scheme (MTSS) (Updated as on November 28, 2025) Feb 23, 2017
Master Direction - Insurance (Updated as on December 07, 2021) Nov 17, 2016
Master Direction - Establishment of Branch Office (BO)/ Liaison Office (LO)/ Project Office (PO) or any other place of business in India by foreign entities (Updated as on May 18, 2021) Jan 04, 2016
Master Direction – Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad (Updated as on June 24, 2021) Jan 04, 2016
Directions - Compounding of Contraventions under FEMA, 1999 dated October 01, 2024 (Supersedes Master Direction- Compounding of Contraventions under FEMA, 1999, (Updated as on May 24, 2022)) Jan 04, 2016
Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin Jan 04, 2016
Master Direction - Liberalised Remittance Scheme (LRS) (Updated as on September 06, 2024) Jan 04, 2016
Master Direction - Other Remittance Facilities (Updated as on November 28, 2025) Jan 04, 2016
Master Direction – Acquisition or Transfer of Immovable Property under Foreign Exchange Management Act, 1999 (Updated as on September 01, 2022) Jan 04, 2016
Master Direction - Remittance of Assets (Updated as on April 28, 2016) Jan 04, 2016
Master Direction - Deposits and Accounts (Updated as on October 09, 2025) Jan 04, 2016
Master Direction – Import of Goods and Services (Updated as on October 1, 2025) Jan 04, 2016
Master Direction – Reporting under Foreign Exchange Management Act, 1999 (Updated as on December 03, 2025) Jan 04, 2016
Master Direction - Miscellaneous (Updated as on November 12, 2018) Jan 04, 2016
Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses (Updated as on December 22, 2022) Jan 04, 2016
Master Direction – Export of Goods and Services (Updated as on November 14, 2025) Jan 04, 2016
Master Direction - Money Changing Activities (Updated as on November 28, 2025) Jan 04, 2016
Issuer of Currency  
Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests (Updated as on September 29, 2025) Apr 25, 2025
Master Direction – Facility for Exchange of Notes and Coins Apr 01, 2025
Master Direction on Counterfeit Notes, 2025 – Detection, Reporting and Monitoring Apr 01, 2025
Master Direction on Penal Provisions in reporting of transactions / balances at Currency Chests Apr 01, 2025
Master Direction – Scheme of Penalties for bank branches and currency chests for deficiency in rendering customer service to the members of public Apr 01, 2025
Master Direction on Counterfeit Notes, 2024 – Detection, Reporting and Monitoring Apr 01, 2024
Master Direction on Penal Provisions in reporting of transactions / balances at Currency Chests Apr 01, 2024
Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests Apr 01, 2024
Master Direction – Scheme of Penalties for bank branches and Currency Chests for deficiency in rendering customer service to the members of public Apr 01, 2024
Master Direction on Framework of Incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests based on performance in rendering customer service to the members of public Apr 03, 2023
Master Direction – Scheme of Penalties for bank branches and Currency Chests for deficiency in rendering customer service to the members of public Apr 03, 2023
Master Direction on Penal Provisions in reporting of transactions/ balances at Currency Chests Apr 03, 2023
Master Direction on Counterfeit Notes, 2023 - Detection, Reporting and Monitoring Apr 03, 2023
Master Direction – Facility for Exchange of Notes and Coins (Updated as on May 15, 2023) Apr 03, 2023
Master Direction on Penal Provisions in deficiencies in reporting of transactions/ balances at Currency Chests Apr 01, 2022
Master Direction on Framework of Incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests based on performance in rendering customer service to the members of public Apr 01, 2022
Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances Apr 01, 2021
Master Direction on “Currency Distribution & Exchange Scheme (CDES)” for bank branches including currency chests based on performance in rendering customer service to members of public Apr 01, 2021
Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public (Updated as on January 6, 2020) Jul 01, 2019
Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances (Updated as on October 03, 2019) Jul 01, 2019
Master Direction on Levy of Penal Interest for Delayed Reporting / Wrong Reporting / Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances Jul 05, 2018
Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public Jul 05, 2018
Master Direction on Levy of Penal Interest for Delayed Reporting/Wrong Reporting/Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances Oct 12, 2017
Master Direction on Levy of Penal Interest for Delayed Reporting/Wrong Reporting/Non-Reporting of Currency Chest Transactions and Inclusion of Ineligible Amounts in Currency Chest Balances Jul 20, 2016
Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public Jul 20, 2016
Payment and Settlement System  
Reserve Bank of India (Authentication mechanisms for digital payment transactions) Directions, 2025 Sep 25, 2025
Master Direction on Regulation of Payment Aggregator (PA) Sep 15, 2025
Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators Jul 30, 2024
Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024 Feb 29, 2024
Master Directions on Prepaid Payment Instruments (PPIs) (Updated as on December 27, 2024) Aug 27, 2021
Master Directions on Access Criteria for Payment Systems (Updated as on July 28, 2021) Jan 19, 2017

 

 

 


   

Master Circulars 

Banker to Government and Banks  
Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission April 1, 2025
Master Circular - Disbursement of Government Pension by Agency Banks April 1, 2025
Co-operative Banking  
Master Circular- Exposure Norms and Statutory / Other Restrictions - UCBs April 1, 2025
Master Circular - Management of Advances - UCBs April 1, 2025
Master Circular - Housing Finance for UCBs April 1, 2025
Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs April 1, 2025
Master Circular - Guarantees, Co-acceptances & Letters of Credit - UCBs April 1, 2025
Master Circular - Prudential Norms on Capital Adequacy - Primary (Urban) Co-operative Banks (UCBs) April 1, 2025
Master Circular on Board of Directors - UCBs April 1, 2025
Commercial Banking  
Master Circular – Housing Finance April 1, 2025
Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs) April 1, 2025
Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances April 1, 2025
Master Circular - Guarantees and Co-acceptances April 1, 2025
Master Circular – Basel III Capital Regulations April 1, 2025
Financial Inclusion and Development  
Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs) June 16, 2025
Master Circular – Lead Bank Scheme April 1, 2025
Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs) April 1, 2025
Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM)  [Withdrawn wef May 21, 2025] April 1, 2025
Master Circular on SHG-Bank Linkage Programme April 1, 2025

 

 


 

Guidance Notes

Guidance Note on Operational Risk Management and Operational Resilience April 30, 2024

 

 


   

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