Master Circular: Resource Raising Norms for FIs (2009)
No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2009-2010/48 · issued 01 Jul 2008 · ~2 min read
Quick answerRBI consolidated resource raising norms for Exim Bank, NABARD, NHB, and SIDBI into a single master circular as of July 1, 2009. It covers umbrella limits for term deposits, term money, CDs, CPs, and ICDs, and separate norms for bond issuance, aiming for regulatory convergence and a level playing field among these institutions.
What changed
RBI issued a master circular consolidating all prior instructions on resource raising for all-India term lending and refinancing institutions, effective July 1, 2009. This replaced the previous master circular from July 1, 2008, and includes updates up to June 30, 2009. The circular brings together norms for term deposits, term money, CDs, CPs, ICDs, and bonds under a single framework.
What it means for you
For Exim Bank, NABARD, NHB, and SIDBI, this master circular simplifies compliance by providing one reference document for all resource raising norms. It ensures a level playing field by subjecting both statutory bodies and limited companies to uniform RBI regulations. Banks dealing with these FIs can expect consistent documentation and reporting requirements for instruments like bonds and CPs.
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
Review the consolidated master circular to understand updated umbrella limits for term deposits, term money, CDs, CPs, and ICDs.
Ensure your institution's resource raising activities comply with the norms for reporting and documentation as per Annexes 1-4.
Coordinate with your IPA for CP issuance to ensure the IPA submits required information to RBI as per the proforma in Annex 1.
Update internal policies to reflect the consolidated guidelines and train relevant staff on the changes.
Who it affects
Exim Bank, NABARD, NHB, SIDBI, Issuing and Paying Agents (IPAs)
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).
What is the purpose of this master circular?
It consolidates all RBI instructions on resource raising for specified financial institutions to help them meet short-term and long-term funding needs, while ensuring a level playing field through uniform norms.
Which institutions are covered under this circular?
The circular applies to all-India term lending and refinancing institutions: Exim Bank, NABARD, NHB, and SIDBI.
Does this circular change the bond issuance process for FIs?
It consolidates existing norms; FIs must still approach RBI's Standing Committee for bond issues, providing details on amount, manner, and purpose of the issue.
📜 This document’s life story (2 recorded events, each backed by RBI’s own words)
📜 Read the original circular — full text as issued by RBI
RBI/2009-2010/48
DBOD.No. FID.FIC. 1/ 01.02.00/2009-10
01 July, 2009
The CEOs of the All-India Term Lending and Refinancing Institutions
(Exim Bank, NABARD, NHB and SIDBI)
Dear Sir,
Master Circular- Resource Raising Norms for Financial Institutions
Please refer to Master Circular DBOD. No. FID.FIC.1/01.02.00/2008-09 dated July 01, 2008 on the captioned subject. The enclosed Master Circular consolidates and updates all the instructions/guidelines on the subject up to June 30, 2009. The Master Circular has also been placed on the web-site of RBI ( http://www.rbi.org.in ).
2. It may be noted that the instructions contained in the circulars listed in Annex 5 have been consolidated in this master circular.
Yours faithfully,
(Vinay Baijal)
Chief General Manager
Master Circular on Resource Raising Norms for Financial Institutions
Purpose
To facilitate the specialised financial institutions (FIs) to meet their short-term and long-term resource requirements so as to enable the FIs to cater to sectoral needs of credit, linked to the operations, purpose and objectives with which the FIs were set up as per their respective statutes. This circular also aims at providing level-playing field, by bringing broad convergence in regulatory norms among financial institutions with regard to issue of bonds by them.
Previous instructions
This master circular consolidates and updates all the instructions/guidelines issued by the Reserve Bank of India relating to resource raising by financial institutions contained in the circulars listed in Annex 5 .
Application
To all the all-India term-lending and refinancing institutions viz . Exim Bank, NABARD, NHB and SIDBI.
Contents
1
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-2010/48 · issued 01 Jul 2008. 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=5107&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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