No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2024-25/13 · issued 02 Apr 2024 · ~1 min read
Quick answerRBI issued a revised Master Circular for Primary Urban Co-operative Banks on income recognition, asset classification, and provisioning norms, consolidating all instructions up to March 31, 2024. No new guidelines are introduced; it's a compilation of existing rules.
What changed
The RBI updated its Master Circular on prudential norms for UCBs, replacing the May 2023 version. It consolidates all instructions issued up to March 31, 2024, without adding new requirements. The circular lists consolidated circulars in Annex 9.
What it means for you
For UCBs, this circular serves as a single reference document for IRAC norms, ensuring uniformity in compliance. It does not alter existing obligations but simplifies tracking of regulatory expectations. Banks must align their internal policies with this consolidated version.
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 old May 2023 Master Circular with this updated version for all IRAC-related compliance.
Review Annex 9 to ensure all referenced circulars are incorporated into your internal policies.
Train credit and risk teams on the consolidated norms to maintain consistent asset classification and provisioning.
Update your reporting systems to reflect any minor changes in circular references or annexures.
Who it affects
Primary (Urban) Co-operative Banks, Credit and risk management teams at UCBs, Compliance officers at UCBs
RBI’s words: “Please refer to our Master Circular DOR.STR.REC.9/21.04.048/2024-25 dated April 02, 2024 consolidating instructions”
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #126: DOR.STR.REC.9/21.04.048/2024-25 — "Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs" dated April 2, 20”
📜 Read the original circular — full text as issued by RBI
RBI/2024-25/13
DOR.STR.REC.9/21.04.048/2024-25
April 02, 2024
The Chief Executive Officers
All Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs
Please refer to our Master Circular DOR.STR.REC.14/21.04.048/2023-24 dated May 8, 2023 consolidating instructions / guidelines issued to banks till March 31, 2023 on matters relating to prudential norms on income recognition, asset classification and provisioning pertaining to advances.
2. Attached is the revised Master Circular , updated to reflect all instructions issued upto March 31, 2024 on the above matter, as listed in Annex 9 . It may be noted that this Master Circular only consolidates all instructions on the above matter issued up to March 31, 2024 and does not contain any new instructions/guidelines.
Yours faithfully
(Vaibhav Chaturvedi)
Chief General Manager
Encl: As above
Master Circular
Income Recognition, Asset Classification, Provisioning and Other Related Matters
Contents
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2024-25/13 · issued 02 Apr 2024. The plain-English explanation above is BankPulse’s own independent summary.
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
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=12658&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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