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Master Circular on Card Operations: Credit, Debit & Prepaid

No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2013-14/60 · issued 01 Jul 2013 · ~1 min read
Quick answerRBI consolidated all card operation guidelines for banks and NBFCs into one master circular, covering credit, debit, and rupee-denominated co-branded prepaid cards. It mandates adherence to customer protection, fraud control, and KYC norms. Banks must align policies with this framework.

What changed

RBI replaced the 2012 master circular with a consolidated version covering credit, debit, and rupee-denominated co-branded prepaid cards. The scope now explicitly includes NBFCs issuing credit cards. Instructions on credit card operations of banks and NBFCs as well as guidelines on issuance of debit cards and co-branded pre-paid cards by banks issued up to June 30, 2013 have been consolidated in this Master Circular.

What it means for you

Banks and NBFCs must treat this circular as the single reference for card operations, ensuring uniform compliance. It reinforces customer rights, fair practices in debt collection, and fraud control. Lenders need to review their card policies to match the updated guidelines.

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

Who it affects

All scheduled commercial banks (excluding RRBs) issuing credit, debit, or prepaid cards, NBFCs engaged in credit card business, Bank subsidiaries and affiliated companies handling card operations

❓ Common questions

Regulatory timeline

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

Does this circular apply to NBFCs issuing credit cards?

Yes, the instructions on credit card operations apply mutatis-mutandis to NBFCs issuing credit cards.

What types of cards are covered under this master circular?

It covers credit cards, debit cards, and rupee-denominated co-branded prepaid cards issued by banks.

Are regional rural banks (RRBs) included in the scope?

No, RRBs are excluded from the scope of application for scheduled commercial banks.

📜 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 #1105: DBOD.No.FSD.BC.4/24.01.011/2013-14 — "Master Circular on Credit Card, Debit Card and Rupee Denominated Cobranded Prepaid Card Operations of Banks" dated July ”
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/60 DBOD.No.FSD.BC. 4/24.01.011/2013-14 July 1, 2013 Ashadha 10, 1935 (Saka) Dear Sir/Madam Master Circular on Credit Card, Debit Card and Rupee Denominated Cobranded Prepaid Card operations of banks Please refer to the Master Circular No.DBOD.FSD.BC.23/24.01.011/2012-13 dated July 2, 2012 consolidating the instructions/guidelines issued to banks and NBFCs on credit card operations of banks till June 30, 2012. A reference is also invited to the guidelines for issue of debit cards/prepaid cards by banks. 2. The instructions on credit card operations of banks and NBFCs as well as guidelines on issuance of debit cards and co-branded pre-paid cards by banks issued upto June 30, 2013 have been consolidated in this Master Circular which has been suitably re-named.  3. It may be noted that the instructions on credit card operations of banks are applicable, mutatis-mutandis, to NBFCs issuing credit cards. 4. The Master Circular has been placed on the RBI website ( www.rbi.org.in ). All the credit, debit and pre-paid card issuing banks and credit card issuing NBFCs should adhere to these guidelines strictly. Yours faithfully (Prakash Chandra Sahoo) Chief General Manager Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Prepaid Card operations of banks Table of Contents Paragraph No
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/60 · issued 01 Jul 2013. 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=8087&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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