No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2009-10/283 · issued 07 Jan 2010 · ~1 min read
Quick answerRBI mandates banks to disclose commissions earned from bancassurance in balance sheets. This ensures transparency in fee-based income from insurance referrals and agency arrangements.
What changed
RBI issued a Master Circular on July 1, 2010, consolidating instructions on para-banking activities, including a requirement for banks to disclose commissions or remunerations received from bancassurance business in their balance sheets, as per paragraph 18 of the circular.
What it means for you
Banks must now separately report income from insurance referral or agency arrangements, increasing transparency for regulators and stakeholders. This affects how banks account for fee-based income and may require system changes to track such earnings accurately.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Update balance sheet disclosure formats to include bancassurance commissions as a separate line item.
Ensure internal systems capture all commissions from insurance referrals and agency agreements.
Train finance teams on the new disclosure requirements under para-banking guidelines.
Review existing bancassurance contracts to confirm compliance with disclosure norms.
Who it affects
All scheduled commercial banks (excluding RRBs) engaged in bancassurance, Bank finance and compliance departments, Insurance partners of banks
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 05:28 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
When did this requirement become effective?
The requirement was consolidated in the Master Circular dated July 1, 2010, which incorporates instructions issued up to June 30, 2010.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
📜 Read the original circular — full text as issued by RBI
RBI /2010-11/60
DBOD. No.FSD.BC. 17/24.01.001/2010-11
July 1, 2010
Ashadha 10, 1932 (Saka)
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir,
Master Circular - Para-banking Activities
Please refer to the Master Circular No.DBOD.FSD.BC.18/24.01.001/2009-10 dated July 1, 2009 consolidating the instructions/ guidelines issued to banks till June 30, 2009 on para-banking activities. The Master Circular has been suitably updated by incorporating instructions issued upto June 30, 2010. The Master Circular has also been placed on the RBI website ( http://www.rbi.org.in ). A copy of the Master Circular is enclosed. A separate Master Circular has been issued on the Credit Card Operations of banks.
Yours faithfully
(A. K. Khound)
Chief General Manager
Encl. : As above
Table of Contents
Paragraph No
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-10/283 · issued 07 Jan 2010. The plain-English explanation above is BankPulse’s own independent summary.
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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5802&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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