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Revised SGL and CSGL Account Guidelines Issued

Current · Source: Reserve Bank of India · RBI/2021-22/107 · issued 05 Oct 2021 · ~1 min read

Quick answerRBI has issued revised eligibility and operational guidelines for SGL and CSGL accounts, superseding the October 2018 version. These are effective from September 22, 2021, under the Government Securities Act 2006.

The rule, in the simplest words

Banks and SGL/CSGL holders must follow new rules for opening and maintaining accounts, effective from September 22, 2021.
These rules replace the earlier ones dated October 29, 2018, and are based on the Government Securities Act 2006.
Banks and SGL/CSGL holders must review and update their internal policies and procedures to comply with the new guidelines.

How it plays out — a real example

A treasury officer in Indore, Mr. Kumar, has to update the internal policies of his bank to comply with the new SGL and CSGL guidelines. He reviews the revised guidelines and realizes that the bank's existing SGL accounts need to meet the new eligibility criteria. He trains the relevant staff on the changes and ensures that all existing accounts are updated within the stipulated timeline. The bank's operations become more efficient and compliant with the new regulations, reducing the risk of non-compliance and potential penalties.

What changed

RBI issued and gazetted revised eligibility criteria and operational guidelines for opening and maintaining SGL and CSGL accounts on September 22, 2021. These new guidelines replace the earlier ones dated October 29, 2018.

What it means for you

Banks and other SGL/CSGL holders must align their account operations with the updated framework. The changes likely tighten eligibility norms or operational procedures, impacting how government securities are held and transacted.

What you must do

Review the revised SGL and CSGL guidelines dated September 22, 2021, for updated eligibility and operational requirements.
Update internal policies and procedures to comply with the new guidelines, superseding the 2018 version.
Train relevant staff on any changes in account opening, maintenance, or reporting processes.
Ensure all existing SGL/CSGL accounts meet the revised criteria within the stipulated timeline.

Who it affects

All SGL account holders, All CSGL account holders, Banks and financial institutions dealing in government securities

❓ Common questions

Regulatory timeline

Stated effective date effective from September 22, 2021
Decoded by BankPulse 2026-06-18 07:23 IST

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

What is the effective date of the revised SGL/CSGL guidelines?

The revised guidelines were gazetted and issued on September 22, 2021, and supersede the earlier guidelines from October 29, 2018.

Which legal authority empowers RBI to issue these guidelines?

RBI issued these guidelines in exercise of powers conferred by Section 4 of the Government Securities Act, 2006.

Do I need to take any action if I already hold an SGL or CSGL account?

Yes, you should review the revised guidelines to ensure your existing accounts comply with the updated eligibility and operational criteria.

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

RBI/2021-22/107
 IDMD.CDD.No.S931/11.22.001/2021-2022
 October 5, 2021
 All SGL/CSGL Holders
 Madam/Sir,
 Revised Subsidiary General Ledger (SGL) Account Guidelines and Constituents' Subsidiary General Ledger (CSGL) Account Guidelines
 In exercise of powers conferred by Section 4 of Government Securities Act 2006, Reserve Bank of India has issued and gazetted revised Eligibility Criteria and Operational Guidelines for opening and maintaining of Subsidiary General Ledger (SGL) Accounts and Constituents’ Subsidiary General Ledger (CSGL) Accounts dated September 22, 2021 . These Guidelines have been issued in supersession to earlier Guidelines dated October 29, 2018 .
 Yours faithfully,
 (Rajendra Kumar)
 Chief General Manager

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-22/107 · issued 05 Oct 2021. The plain-English explanation above is BankPulse’s own independent summary.

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Who does what — compliance checklist

🏦 Branch Manager

Train relevant staff on any changes in account opening, maintenance, or reporting processes.

📜 Compliance

Review the revised SGL and CSGL guidelines dated September 22, 2021, for updated eligibility and operational requirements.
Update internal policies and procedures to comply with the new guidelines, superseding the 2018 version.
Ensure all existing SGL/CSGL accounts meet the revised criteria within the stipulated timeline.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All SGL account holders, All CSGL account holders, Banks and financial institutions dealing in government securities), your first concrete step on “Revised SGL and CSGL Account Guidelines Issued” is: “Review the revised SGL and CSGL guidelines dated September 22, 2021, for updated eligibility and operational requirements.” (RBI issued this 05 Oct 2021).

Circular: RBI/2021-22/107 -- Revised SGL and CSGL Account Guidelines Issued
Issued: 05 Oct 2021
Action required: Review the revised SGL and CSGL guidelines dated September 22, 2021, for updated eligibility and operational requirements.
Action required: Update internal policies and procedures to comply with the new guidelines, superseding the 2018 version.
Action required: Train relevant staff on any changes in account opening, maintenance, or reporting processes.
Action required: Ensure all existing SGL/CSGL accounts meet the revised criteria within the stipulated timeline.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________

Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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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=12174&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.