Home › Circulars › RBI/2012-13/297

RBI Harmonises Infrastructure Lending Definition with Govt Master List

No longer current — withdrawn, no replacement on file yet

Source: Reserve Bank of India · RBI/2012-13/297 · issued 20 Nov 2012 · ~2 min read

Quick answerRBI aligns its infrastructure lending definition with the Government of India's master list of infrastructure sub-sectors notified on March 27, 2012, effective November 20, 2012. Existing loans to now-excluded sub-sectors retain benefits until project completion, but fresh lending to those sub-sectors no longer qualifies as infrastructure lending.

What changed

RBI revised the definition of 'infrastructure lending' to match the Government of India's master list of infrastructure sub-sectors notified on March 27, 2012. The new definition is effective from November 20, 2012, replacing the earlier definition from the 2007 circular and the Master Circular dated July 2, 2012. Sub-sectors previously included but now excluded from the revised list will continue to receive infrastructure lending benefits only for existing exposures until project completion; fresh lending to those sub-sectors will not qualify.

What it means for you

Banks and select AIFIs must use the updated list of sub-sectors (e.g., transport, energy, water, communication, social infrastructure) to classify new loans as infrastructure lending. Loans to sub-sectors dropped from the list lose infrastructure status for new disbursements, potentially affecting risk weights and provisioning. Existing projects under old sub-sectors are grandfathered, so banks need to track legacy exposures carefully.

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 internal credit policies and systems to reflect the revised infrastructure sub-sector list from the circular's annex.
Classify all new infrastructure loans from November 20, 2012, using only the harmonised list; exclude sub-sectors not in the new list.
Maintain separate tracking for existing loans to now-excluded sub-sectors to ensure continued benefits until project completion.
Train credit and risk teams on the revised definition to avoid misclassification and regulatory non-compliance.

Who it affects

All Scheduled Commercial Banks (excluding RRBs), Select All India Financial Institutions (NHB, NABARD, EXIM Bank, SIDBI), Credit and risk management teams, Infrastructure project borrowers

❓ Common questions

Regulatory timeline

Stated effective date effective November 20, 2012
Decoded by BankPulse 2026-06-18 17:15 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn 03 Aug 2026, 04:00 IST

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What happens to existing loans to sub-sectors that are no longer in the infrastructure list?

Existing exposures to those sub-sectors will continue to receive infrastructure lending benefits until the project is completed. However, any fresh lending to those sub-sectors from November 20, 2012, will not qualify as infrastructure lending.

Which sub-sectors are newly included in the harmonised definition?

The revised list includes sub-sectors like urban public transport (except rolling stock in case of urban road transport), gas pipelines, city gas distribution, telecommunication towers, and cold chain. Refer to the annex in the circular for the full list.

Does this circular affect priority sector lending classification?

The circular specifically addresses infrastructure lending for regulatory purposes (e.g., exposure norms). Priority sector lending is governed by separate RBI guidelines and is not covered by this circular.

📜 This document’s life story (1 recorded event, each backed by RBI’s own words)

Repealed by RBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)

RBI’s words: “Official withdrawal register entry #1203: DBOD.BP.BC.No.58/08.12.014/2012-13 — "Second Quarter Review of Monetary Policy 2012-13 - Definition of 'Infrastructure Lending'" dated November 20, 2012”

📜 Read the original circular — full text as issued by RBI

RBI/2012-13/297
 DBOD.BP.BC.No. 58/08.12.014/2012-13
 November 20, 2012
 All Scheduled Commercial Banks 
(excluding RRBs) and 
Select All India Financial Institutions (AIFIs)
(NHB, NABARD, EXIM Bank and SIDBI).
 Dear Sir,
 Second Quarter Review of Monetary Policy 2012-13 – Definition of 'Infrastructure Lending' 
 Please refer to our circular DBOD.No.BP.BC.52/21.04.048/2007-08 dated November 30, 2007 on ‘Financing of Infrastructure by the Banks and Financial Institutions - Definition of Infrastructure Lending’. The latest list of the items included under infrastructure sector is furnished in Annex 1 of our Master Circular DBOD.No.Dir.BC. 3/13.03.00/2012-13 dated July 2, 2012 on ‘Exposure Norms’.
 2. As indicated in the Second Quarter Review of Monetary Policy 2012-13 under paragraphs 110 and 111 ( extract enclosed ) announced on October 30, 2012 on ‘Definition of Infrastructure Lending', it has been decided to harmonise the definition of ‘infrastructure lending for the purpose of financing of infrastructure by the banks and Financial Institutions’ with that of the Master List of Infrastructure sub-sectors’ notified by the Government of India on March 27, 2012. Accordingly, the revised definition of ‘infrastructure lending’ is given in the Annex to this circular.
 3. The revised definition of ‘infrastructure lending’ will be effective from the date of this circular. The exposure of banks to projects under sub-sectors which were included under our previous definition of infrastructure, but not included under the revised definition, will continue to get the benefits under ‘infrastructure lending’ for such exposures till the completion of the projects. However, any fresh lending to those sub-sectors from the date of this circular will not qualify as ‘infrastructure lending’.
 Yours faithfully,
 (Deepak Singhal) 
 Chief General Manager-in-Charge
 Annex
 List of sub-sectors for ‘Infrastructure Lending’ 
 A credit facility extended by lenders (i.e. banks and select AIFIs) to a borrower for exposure in the following infrastructure sub-sectors will qualify as ‘infrastructure lending’:
 Sl.No.

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/297 · issued 20 Nov 2012. 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=7700&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.