Source: Reserve Bank of India · RBI/2023-24/31 · issued 12 May 2023 · ~1 min read
Quick answerRBI issued a consolidated Master Circular on Basel III capital regulations, updating and replacing the April 2022 version. It applies to all scheduled commercial banks except SFBs, PBs, and RRBs. The circular lists all consolidated circulars in Annex 26.
What changed
RBI replaced the April 1, 2022 Master Circular on Basel III capital regulations with a new version dated May 12, 2023. The update incorporates all relevant guidelines issued up to that date, with a list of consolidated circulars provided in Annex 26.
What it means for you
Banks must now refer to the 2023 Master Circular for the latest Basel III capital adequacy requirements. The update ensures alignment with current prudential norms, and non-compliance could affect capital reporting. SFBs and PBs should continue following their separate licensing 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
Replace the April 2022 Master Circular with the May 2023 version for all Basel III capital compliance.
Review Annex 26 to identify any new or amended circulars that may impact your bank's capital adequacy calculations.
Ensure your compliance and risk teams are trained on the updated circular to avoid reporting errors.
Who it affects
All Scheduled Commercial Banks (excluding SFBs, PBs, and RRBs), Risk management and compliance teams, Capital planning and reporting departments
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).
Does this Master Circular apply to Small Finance Banks?
No, Small Finance Banks and Payments Banks must refer to their respective licensing and operating guidelines for capital adequacy norms.
What is the key change from the previous Master Circular?
The 2023 version consolidates all Basel III guidelines issued up to May 12, 2023, replacing the April 1, 2022 circular. Annex 26 lists all circulars included.
Where can I find the list of circulars consolidated in this Master Circular?
The list is provided in Annex 26 of the circular, which is available on the RBI website.
📜 This document’s life story (4 recorded events, each backed by RBI’s own words)
RBI’s words: “the minimum operational risk regulatory capital requirements shall be computed in accordance with the instructions contained in paragraph 9 of ‘Master Circular – Basel III Capital Regulations’ issued ”
RBI’s words: “the provisions of Master Circular – Basel III Capital Regulations have been modified as provided in Annex 1”
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #176: DOR.CAP.REC.15/21.06.201/2023-24 — "Master Circular - Basel III Capital Regulations" dated May 12, 2023”
📜 Read the original circular — full text as issued by RBI
RBI/2023-24/31
DOR.CAP.REC.15/21.06.201/2023-24
May 12, 2023
All Scheduled Commercial Banks
(Excluding Small Finance Banks, Payments Banks
and Regional Rural Banks)
Madam / Dear Sir,
Master Circular – Basel III Capital Regulations
Please refer to the Master Circular No. DOR.CAP.REC.3/21.06.201/2022-23 dated April 1, 2022 , consolidating therein the prudential guidelines on Basel III capital adequacy issued to banks till that date.
2. The instructions contained in the aforesaid Master Circular have been suitably updated / amended by incorporating relevant guidelines, issued as on date. A list of circulars consolidated in this Master Circular is contained in Annex 26.
3. Small Finance Banks and Payments Banks may refer to their respective licensing guidelines and operating guidelines issued by Reserve Bank, for prudential guidelines on capital adequacy.
Yours faithfully,
(Usha Janakiraman)
Chief General Manager
Encl.: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2023-24/31 · issued 12 May 2023. 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=12504&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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