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RBI Master Circulars / Directions for 2024-25

RBI Master Circulars / Directions for 2023-24

Master Directions

Master Circulars

Guidance Notes

 


 

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 The existing set of Master Circulars issued on various subjects will stand withdrawn with the issue of the Master Direction on the subject.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 Directions on Relief/Savings Bonds Jul 04, 2017
Master Direction – Operational Guidelines for Primary Dealers (Updated as on November 22, 2018) Jul 01, 2016
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
Master Direction – Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Primary (Urban) Co-operative Banks) Directions, 2023 Apr 01, 2023
Master Direction - Amalgamation of Urban Cooperative Banks, Directions, 2020 Mar 23, 2021
Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 (Updated as on January 01, 2024) May 12, 2016
Commercial Banking  
Master Direction on Treatment of Wilful Defaulters and Large Defaulters Jul 30, 2024
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 - Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2023 Sep 12, 2023
Master Direction on Minimum Capital Requirements for Operational Risk Jun 26, 2023
Master Direction on Outsourcing of Information Technology Services Apr 10, 2023
Master Direction – Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023 Jan 16, 2023
Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (Updated as on March 07, 2024) Apr 21, 2022
Master Direction – Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022 (Updated as on July 25, 2022) Mar 14, 2022
Master Direction – Prudential Norms on Capital Adequacy for Local Area Banks (Directions), 2021 (Updated as on April 08, 2024) Oct 26, 2021
Master Direction – Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021 (Updated as on December 05, 2022) Sep 24, 2021
Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021 (Updated as on December 28, 2023) Sep 24, 2021
Master Direction on Financial Statements - Presentation and Disclosures (Updated as on April 01, 2024) Aug 30, 2021
Master Direction - Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2021 (Updated as on December 8, 2022) Aug 25, 2021
Master Direction - Reserve Bank of India [Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)] Directions - 2021 (Updated as on September 25, 2023) Jul 20, 2021
Master Direction on Digital Payment Security Controls Feb 18, 2021
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) Aug 02, 2019
Master Direction - Know Your Customer (KYC) Direction, 2016 (Updated as on January 04, 2024) May 29, 2019
Master Directions on Frauds – Classification and Reporting by commercial banks and select FIs (Updated as on July 03, 2017) Jul 01, 2016
Master Direction - Reserve Bank of India (Financial Statements of All India Financial Institutions - Presentation, Disclosure and Reporting) Directions, 2016 Jun 23, 2016
Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016 (Updated as on August 10, 2021) May 26, 2016
Master Direction – Ownership in Private Sector Banks, Directions, 2016 May 12, 2016
Master Direction – Amalgamation of Private Sector Banks, Directions, 2016 Apr 21, 2016
Master Direction - Reserve Bank of India (Interest Rate on Advances) Directions, 2016 (Updated as on September 12, 2023) Mar 03, 2016
Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 (Updated as on June 07, 2024) Mar 03, 2016
Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015 Nov 19, 2015
Gold Monetization Scheme, 2015 (Updated as on August 04, 2022) Oct 22, 2015
Consumer Education and Protection  
Master Direction - Reserve Bank of India (Internal Ombudsman for Regulated Entities) Directions, 2023 Dec 29, 2023
Financial Inclusion and Development  
Master Directions – Priority Sector Lending (PSL) – Targets and Classification (Updated as on June 21, 2024) 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 June 11, 2024) 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 (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2024 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 Feb 10, 2022
Master Direction – Reserve Bank of India (Market-makers in OTC Derivatives) Directions, 2021 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 May 03, 2024) Jul 05, 2016
Foreign Exchange Management  
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)) Aug 22, 2022
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 up to March 17, 2022) Jan 04, 2018
Master Direction – Money Transfer Service Scheme (MTSS) (Updated as on February 29, 2024) 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
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 December 22, 2023) Jan 04, 2016
Master Direction - Other Remittance Facilities (Updated as on April 03, 2024) 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 January 9, 2020) Jan 04, 2016
Master Direction – Import of Goods and Services (Updated as on March 01, 2024) Jan 04, 2016
Master Direction – Reporting under Foreign Exchange Management Act, 1999 (Updated as on June 20, 2024) 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 22, 2022) Jan 04, 2016
Master Direction - Money Changing Activities (Updated as on May 29, 2024) Jan 04, 2016
Issuer of Currency  
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
Non-banking  
Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies) Jul 15, 2024
Master Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024 Apr 24, 2024
Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 (Updated as on March 21, 2024) Oct 19, 2023
Master Direction - Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023 Sep 21, 2023
Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 (Updated as on March 21, 2024) Feb 17, 2021
Master Direction - Fit and Proper Criteria for Sponsors - Asset Reconstruction Companies (Reserve Bank) Directions, 2018 Oct 25, 2018
Master Directions - Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 (Updated as on December 29, 2022) Oct 04, 2017
Master Direction - Information Technology Framework for the NBFC Sector Jun 08, 2017
Master Directions - Mortgage Guarantee Companies (Reserve Bank) Directions, 2016 (Updated as on April 04, 2024) Nov 10, 2016
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
Master Direction - Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 (Updated as on February 22, 2024) Sep 02, 2016
Master Direction - Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 Sep 01, 2016
Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 Sep 01, 2016
Master Direction - Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016 (Updated as on October 10, 2023) Aug 25, 2016
Master Direction - Core Investment Companies (Reserve Bank) Directions, 2016 (Updated as on December 29, 2022) Aug 25, 2016
Master Direction - Exemptions from the provisions of RBI Act, 1934 (Updated as on April 01, 2022) Aug 25, 2016
Master Direction - Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 2016 Aug 25, 2016
Master Direction - Standalone Primary Dealers (Reserve Bank) Directions, 2016 (Updated as on April 04, 2024) Aug 25, 2016
Master Direction - Residuary Non-Banking Companies (Reserve Bank) Directions, 2016 (Updated as on February 22, 2019) Aug 25, 2016
Payment and Settlement System  
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 February 23, 2024) Aug 27, 2021
Master Direction on Issuance and Operation of Prepaid Payment Instruments (Updated as on November 17, 2020) Oct 11, 2017
Master Directions on Access Criteria for Payment Systems (Updated as on July 28, 2021) Jan 19, 2017

 

 

 


   

Master Circulars 

Banker and Debt Manager to Government  
Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission April 1, 2024
Master Circular - Disbursement of Government Pension by Agency Banks April 1, 2024
Co-operative Banking  
Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs April 2, 2024
Master Circular - Housing Finance for UCBs April 2, 2024
Master Circular - Prudential Norms on Capital Adequacy - Primary (Urban) Co-operative Banks (UCBs) April 1, 2024
Master Circular on Board of Directors - UCBs April 1, 2024
Commercial Banking  
Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs) April 24, 2024
Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances April 2, 2024
Master Circular – Housing Finance April 2, 2024
Master Circular – Basel III Capital Regulations April 1, 2024
Financial Inclusion and Development  
Master Circular – Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM) April 16, 2024
Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs) April 16, 2024
Master Circular on SHG-Bank Linkage Programme April 1, 2024
Master Circular – Lead Bank Scheme April 1, 2024

 

 


 

Guidance Notes

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

 

 


   

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