Master Directions

Draft Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices

RBI/2022-23/xx DoS.CO.CSITEG/SEC.xx/31.01.015/2022-23 20/10/2022

RBI proposes to prescribe a Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices, to be implemented by Regulated Entities (REs)...

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RBI Master Directions on Interest Rate on Deposits

RBI/2022-2023/117 DOR.SOG (SPE).REC.No 68/13.03.00/2022-23 16/09/2022

The Overnight Alternative Reference Rate for the respective currency / Swap rates quoted / displayed by Financial Benchmarks India Pvt. Ltd. (FBIL) shall be used as the reference for arriving at the interest rates on FCNR(B) deposits....

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Master Direction on Interest Rate on FCNR(B) and NRE Deposits

RBI/2022-23/82 DOR.SOG (SPE).REC.No 53/13.03.000/2022-23 06/07/2022

Master Direction on Interest Rate on Deposits - Foreign Currency (Non-resident) Accounts (Banks) Scheme [FCNR(B)] and Non-Resident (External) Rupee (NRE) Deposit...

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Master Direction – Reserve Bank of India (Variation Margin) Directions, 2022

RBI/2022-23/93 FMRD.DIRD.02/14.01.023/2022-23 01/06/2022

Provisions of Master Direction – RBI (Variation Margin) Directions, 2022 shall apply to contracts, entered into on or after the date on which these Directions come into force...

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Master Direction – Credit Card & Debit Card – Issuance & Conduct Directions, 2022

RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23 21/04/2022

The provisions of Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 relating to credit cards shall apply to every Scheduled Bank (excluding Payments Banks, State Co-operative Banks and District Central Co-operative Banks) and all Non-Banking Financial Companies (NBFCs) operating in India....

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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 01/04/2022

Reporting of Currency Chest Transactions - The minimum amount of deposit into / withdrawal from currency chest will be ₹1,00,000 and thereafter, in multiples of ₹50,000. Time limit for Reporting - The currency chests should invariably report all transactions through CyM – CC portal on the same day by 7 pm....

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RBI Master Direction on Framework of Incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests

Master Direction No. RBI/2022-23/90 DCM (CC) No.G-3/03.41.01/2022-23 01/04/2022

The framework of incentives titled Currency Distribution & Exchange Scheme (CDES) for bank branches including currency chests has been formulated in order to encourage all bank branches to provide better customer service to the members of public keeping in view the objectives of Clean Note Policy as part of currency management....

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Master Direction – Classification, Valuation & Operation of Investment Portfolio of Commercial Banks (Directions), 2021 – Amendment

RBI/2021-22/185 DOR.MRG.REC.96/21.04.141/2021-22 23/03/2022

The Master Direction outlines the prudential treatment for investment in Venture Capital Funds (VCFs). We have received queries from banks regarding the applicability of these instructions for investment in Alternative Investment Funds (AIFs)....

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Master Direction – RBI (Regulatory Framework for Microfinance Loans) Directions, 2022

Master Direction No. RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 14/03/2022

A microfinance loan is defined as a collateral-free loan given to a household having annual household income up to ₹3,00,000. For this purpose, the household shall mean an individual family unit, i.e., husband, wife and their unmarried children....

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Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022

RBI/2021-22/88 FMRD.DIRD.10/14.03.004/2021-22 10/02/2022

The draft Reserve Bank of India (Credit Derivatives) Directions, 2021 were released for public comments on February 16, 2021. Based on the feedback received from the market participants, the draft Directions were reviewed and have since been finalised. The Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022 ar...

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