Acts & Regulations - Reserve Bank of India (RBI)
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Click here for RBI Master Circulars / Directions for 2023-24
- Payment and Settlement Systems Regulations, 2008 (As amended upto February 2022)
- Reserve Bank of India Act, 1934 (As amended by the Finance Act, 2022)
- Banking Regulation Act, 1949, as amended by The National Bank for Financing Infrastructure and Development Act, 2021 (17 of 2021) (w.e.f.19-4-2021)
- The Coinage Act, 2011
- The Payment and Settlement Systems Act, 2007 (As amended upto 2019)
- RBI (Note Refund) Rules, 2009
- The Government Securities Regulations, 2007
- The Government Securities Act, 2006
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 The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.
Banker and Debt Manager to Government:
- Master Directions on Relief/Savings Bonds
- Master Directions on Relief/Savings Bonds
- Master Direction – Operational Guidelines for Primary Dealers (Updated as on November 22, 2018)
Co-operative Banking:
- Master Direction - Amalgamation of Urban Cooperative Banks, Directions, 2020
- Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 (Updated as on September 16, 2022)
Commercial Banking:
- Master Direction on Financial Statements - Presentation and Disclosures (Updated as on February 20, 2023)
- Master Direction - RBI (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023
- Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022
- Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022 (Updated as on July 25, 2022)
- Master Direction – Prudential Norms on Capital Adequacy for Local Area Banks (Directions), 2021 (Updated as on March 31, 2022)
- Master Direction – Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021 (Updated as on December 05, 2022)
- Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 (Updated as on December 05, 2022)
- Master Direction - Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2021 (Updated as on December 8, 2022)
- Master Direction - Reserve Bank of India [Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)] Directions - 2021 (Updated as on April 06, 2022)
- Master Direction on Digital Payment Security Controls
- Master Direction - Reserve Bank of India (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019 (Updated as on June 03, 2020)
- Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on May 10, 2021)
- Master Directions on Frauds – Classification and Reporting by commercial banks and select FIs (Updated as on July 03, 2017)
- Master Direction - Reserve Bank of India (Financial Statements of All India Financial Institutions - Presentation, Disclosure and Reporting) Directions, 2016
- Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016 (Updated as on August 10, 2021)
- Master Direction – Ownership in Private Sector Banks, Directions, 2016
- Master Direction – Amalgamation of Private Sector Banks, Directions, 2016
- Master Direction - Issue and Pricing of shares by Private Sector Banks, Directions, 2016
- Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016 (Updated as on June 10, 2021)
- Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 (Updated as on September 16, 2022)
- Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015
- Gold Monetization Scheme, 2015 (Updated as on August 04, 2022)
Financial Inclusion and Development:
- Master Directions – Priority Sector Lending (PSL) – Targets and Classification (Updated as on October 20, 2022)
- Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – RRBs
- Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – SCBs
- Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector (Updated as on July 29, 2022)
- Master Direction – Reserve Bank of India (Relief Measures by banks in areas affected by Natural Calamities) Directions 2017
Financial Market:
- Master Direction – Reserve Bank of India (Variation Margin) Directions, 2022
- Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022
- Master Direction – Reserve Bank of India (Market-makers in OTC Derivatives) Directions, 2021
- Master Direction – Reserve Bank of India (Certificate of Deposit) Directions, 2021
- Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2021 (Updated as on June 25, 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)
- Master Direction - Risk Management and Inter-Bank Dealings (Updated as on September 01, 2020)
Foreign Exchange Management:
- Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations (Updated as on September 30, 2022) (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))
- Master Direction – Foreign Investment in India (Updated up to March 17, 2022)
- Master Direction – Money Transfer Service Scheme (MTSS)
- Master Direction - Insurance (Updated as on December 07, 2021)
- 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)
- Master Direction – Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad (Updated as on June 24, 2021)
- Master Direction- Compounding of Contraventions under FEMA, 1999 (Updated as on May 24, 2022)
- Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin
- Master Direction - Liberalised Remittance Scheme (LRS) (Updated as on August 24, 2022)
- Master Direction - Other Remittance Facilities (Updated as on November 6, 2018)
- Master Direction – Acquisition and Transfer of Immovable Property under Foreign Exchange Management Act, 1999 (Updated as on September 01, 2022)
- Master Direction - Remittance of Assets (Updated as on April 28, 2016)
- Master Direction - Deposits and Accounts (Updated as on January 9, 2020)
- Master Direction – Import of Goods and Services (Updated as on November 21, 2022)
- Master Direction – Reporting under Foreign Exchange Management Act, 1999 (Updated as on September 30, 2022)
- Master Direction - Miscellaneous (Updated as on November 12, 2018)
- Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses (Updated as on December 22, 2022)
- Master Direction – Export of Goods and Services (Updated as on November 22, 2022)
- Master Direction - Money Changing Activities (Updated as on March 4, 2022)
Issuer of Currency:
- Master Direction on Penal Provisions in deficiencies in reporting of transactions/ balances at Currency Chests
- 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
- 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
- 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
- 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)
- 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)
- 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
- Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public
- 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
- 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
- Master Direction on Currency Distribution & Exchange Scheme (CDES) based on performance in rendering customer service to the members of public
Non-banking:
- Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 (Updated as on December 27, 2022)
- Master Direction - Fit and Proper Criteria for Sponsors - Asset Reconstruction Companies (Reserve Bank) Directions, 2018
- Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (Updated as on December 29, 2022)
- Master Direction - Information Technology Framework for the NBFC Sector
- Master Directions - Mortgage Guarantee Companies (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022)
- Master Direction- Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016
- Master Direction - Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2016
- Master Direction - Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016
- Master Direction- Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022)
- Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022)
- Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022)
- Master Direction - Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016 (Updated as on May 02, 2022)
- Master Direction - Core Investment Companies (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022)
- Master Direction - Exemptions from the provisions of RBI Act, 1934 (Updated as on April 01, 2022)
- Master Direction - Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 2016
- Master Direction - Standalone Primary Dealers (Reserve Bank) Directions, 2016 (Updated as on November 14, 2022)
- Master Direction - Residuary Non-Banking Companies (Reserve Bank) Directions, 2016 (Updated as on February 22, 2019)
Payment and Settlement System:
- Master Directions on Prepaid Payment Instruments (PPIs) (Updated as on February 10, 2023)
- Master Direction on Issuance and Operation of Prepaid Payment Instruments (Updated as on November 17, 2020)
- Master Directions on Access Criteria for Payment Systems (Updated as on July 28, 2021)
Banker and Debt Manager to Government:
- Master Circular - Disbursement of Government Pension by Agency Banks
- Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
Co-operative Banking:
- Master Circular - Housing Finance for UCBs
- Master Circular - Management of Advances - UCBs
- Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs
- Master Circular - Prudential Norms on Capital Adequacy - Primary (Urban) Co-operative Banks (UCBs)
- Master Circular - Guarantees, Co-Acceptances & Letters of Credit - UCBs
- Master Circular on Investments by Primary (Urban) Co-operative Banks
Commercial Banking:
- Master Circular – Housing Finance
- Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
- Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs)
- Master Circular – Basel III Capital Regulations
- Master Circular - Guarantees and Co-acceptances
Financial Inclusion and Development:
- Master Circular on Credit Facilities to Minority Communities
- Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)
- Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM)
- Master Circular – Lead Bank Scheme
- Master Circular on SHG-Bank Linkage Programme
Issuer of Currency:
- Master Circular – Detection and Impounding of Counterfeit Notes
- Master Circular – Scheme of Penalties for bank branches including Currency Chests for deficiency in rendering customer service to the members of public
- Master Circular – Facility for Exchange of Notes and Coins
Non-banking:
- Master Circular - Asset Reconstruction Companies (Updated as on October 14, 2022)
