{"what_this_is":"The machine-readable twin of the BankPulse page for one RBI rulebook. Same points, same dates, same paragraph references as the page a person reads. RBI's own wording is not reproduced here: each point names the RBI paragraph, the character offset into the text BankPulse read and the sha256 of that text, so the claim can be checked against RBI's own document.","schema_version":1,"release_id":"d653cdb0a5","generated_at":"2026-09-15T00:33:59.117975+00:00","id":"md12936","title":"Reserve Bank of India (Non-Banking Financial Companies - Account Aggregator) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md12936","status":"In force","importance":{"code":"MR","label":"MUST READ","weight":"Must read","why":"Binding RBI Directions naming this institution class in the title","layer":"bankpulse_inference"},"applies_to":{"shown":"Finance companies","class_code":"NBFC","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md12936","mode":"four_dates_v1","published":{"label":"Published","value":"Nov 28, 2025","stated":true,"why":"The day RBI put this document out."},"effective":{"label":"Starts to apply","value":"","stated":false,"why":"Not stated separately in this document. Read the rule itself before you assume a start date."},"transition":{"label":"Time to get ready","value":"","stated":false,"why":"Cannot be worked out until the day it starts to apply is known."},"deadline":{"label":"Last date to act","value":"","stated":false,"why":"No date to act by was found in this document. Other dates may sit inside single paragraphs."},"sources":{"published":"doc_date in data/highlights/md12936.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12936","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:20:56 UTC","text_sha256":"6b790c71849f84cf395cb946cb138cf376b1ff0e92330e7be7aeb42498dbf124","word_count":5397,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":27,"points_naming_an_rbi_paragraph":27,"points_stored":27,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md12936-109f5046","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Starts when RBI posts it","plain_english":"These rules start the day RBI puts them on its own website.","rbi_paragraph":"Para 2","rbi_char_offset":2901,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p1","layer":"bankpulse"},{"n":2,"claim":"md12936-82fda0b4","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who this book covers","plain_english":"This book covers every account aggregator company registered with RBI.","rbi_paragraph":"Para 3","rbi_char_offset":3035,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p2","layer":"bankpulse"},{"n":3,"claim":"md12936-7ec7cad1","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Smallest regulatory layer","plain_english":"RBI always places an account aggregator company in its smallest, lightest-touch layer.","rbi_paragraph":"Para 6","rbi_char_offset":4985,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p3","layer":"bankpulse"},{"n":4,"claim":"md12936-e894c8c7","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Carries data, never owns it","plain_english":"It collects a customer's financial data and passes it on, with consent.","rbi_paragraph":"Para 8(4)","rbi_char_offset":6280,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p4","layer":"bankpulse"},{"n":5,"claim":"md12936-4b5da6f4","page_group":"Chapter I. 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Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Other RBI rules still apply","plain_english":"RBI's other NBFC rulebooks still apply, where they do not clash with this one.","rbi_paragraph":"Para 4","rbi_char_offset":3256,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p10","layer":"bankpulse"},{"n":1,"claim":"md12936-0e9bb82e","page_group":"Chapter III. Scope of Activities","stored_section":"THE CORE IDEA","heading":"No trading for customers","plain_english":"It may never carry out a transaction for a customer.","rbi_paragraph":"Para 14(3)","rbi_char_offset":16619,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p11","layer":"bankpulse"},{"n":2,"claim":"md12936-2c6193a9","page_group":"Chapter III. Scope of Activities","stored_section":"THE CORE IDEA","heading":"One business only","plain_english":"It may run no business at all besides account aggregation.","rbi_paragraph":"Para 14(6)","rbi_char_offset":17014,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p12","layer":"bankpulse"},{"n":3,"claim":"md12936-dc8a97ff","page_group":"Chapter III. Scope of Activities","stored_section":"THE CORE IDEA","heading":"No data storage here","plain_english":"No financial information collected for a customer may sit stored with it.","rbi_paragraph":"Para 14(7)","rbi_char_offset":17220,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p13","layer":"bankpulse"},{"n":4,"claim":"md12936-17426b32","page_group":"Chapter III. Scope of Activities","stored_section":"WHO SHOULD ACT","heading":"A standard consent form","plain_english":"Every consent it takes from a customer follows one standard written form.","rbi_paragraph":"Para 17","rbi_char_offset":18499,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p14","layer":"bankpulse"},{"n":5,"claim":"md12936-9e09d9af","page_group":"Chapter III. Scope of Activities","stored_section":"THE CORE IDEA","heading":"No passwords, ever","plain_english":"It may never ask for or store a customer's own passwords or PINs.","rbi_paragraph":"Para 30(2)","rbi_char_offset":22973,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p15","layer":"bankpulse"},{"n":6,"claim":"md12936-2bcf3cad","page_group":"Chapter III. Scope of Activities","stored_section":"KEY DATES","heading":"One month to fix complaints","plain_english":"A customer complaint must be settled within one month of being received.","rbi_paragraph":"Para 38","rbi_char_offset":26191,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p16","layer":"bankpulse"},{"n":7,"claim":"md12936-8bb950eb","page_group":"Chapter III. Scope of Activities","stored_section":"WHO SHOULD ACT","heading":"RBI steps in, one month","plain_english":"A customer may go to RBI if a complaint stays unsettled past one month.","rbi_paragraph":"Para 39(2)","rbi_char_offset":26784,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p17","layer":"bankpulse"},{"n":8,"claim":"md12936-5b41c7bd","page_group":"Chapter III. Scope of Activities","stored_section":"WHO SHOULD ACT","heading":"A way to cancel consent","plain_english":"Every customer gets a way to cancel their consent at any time.","rbi_paragraph":"Para 20","rbi_char_offset":19519,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p18","layer":"bankpulse"},{"n":9,"claim":"md12936-4160e8d5","page_group":"Chapter III. Scope of Activities","stored_section":"KEY DATES","heading":"Security check every two years","plain_english":"Its computer systems are checked by an outside certified auditor every two years.","rbi_paragraph":"Para 30(6)","rbi_char_offset":23719,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p19","layer":"bankpulse"},{"n":10,"claim":"md12936-d3c926e0","page_group":"Chapter III. Scope of Activities","stored_section":"KEY DATES","heading":"Auditor's report, one month","plain_english":"That auditor's report reaches RBI's local office within one month.","rbi_paragraph":"Para 30(6)","rbi_char_offset":23887,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p20","layer":"bankpulse"},{"n":11,"claim":"md12936-124b3851","page_group":"Chapter III. Scope of Activities","stored_section":"WHO SHOULD ACT","heading":"Post the complaints officer's name","plain_english":"The complaints officer's name and contact details are posted on its website and offices.","rbi_paragraph":"Para 39(1)","rbi_char_offset":26577,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p21","layer":"bankpulse"},{"n":1,"claim":"md12936-0b3070f5","page_group":"Chapter IV. Corporate Governance","stored_section":"WHO SHOULD ACT","heading":"RBI's word first on takeovers","plain_english":"RBI's written permission comes first, before any change of control or ownership.","rbi_paragraph":"Para 50","rbi_char_offset":31056,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p22","layer":"bankpulse"},{"n":2,"claim":"md12936-bd4f6b3f","page_group":"Chapter IV. Corporate Governance","stored_section":"WHO SHOULD ACT","heading":"A three-member board panel","plain_english":"The board forms its own panel of at least three directors to check who is fit to lead it.","rbi_paragraph":"Para 45","rbi_char_offset":28100,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p23","layer":"bankpulse"},{"n":3,"claim":"md12936-1f7924cb","page_group":"Chapter IV. Corporate Governance","stored_section":"WHO SHOULD ACT","heading":"A board panel for risk","plain_english":"The board also forms a panel of at least three directors to watch its risks.","rbi_paragraph":"Para 47","rbi_char_offset":28857,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p24","layer":"bankpulse"},{"n":4,"claim":"md12936-33660a9a","page_group":"Chapter IV. Corporate Governance","stored_section":"KEY DATES","heading":"Directors checked, every year","plain_english":"A yearly statement on its directors reaches RBI within fifteen days of year end.","rbi_paragraph":"Para 48(2)","rbi_char_offset":30173,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p25","layer":"bankpulse"},{"n":1,"claim":"md12936-8c5920d9","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"IMPACT","heading":"RBI can inspect any time","plain_english":"RBI may inspect its books and systems at any time it chooses.","rbi_paragraph":"Para 58","rbi_char_offset":33722,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p26","layer":"bankpulse"},{"n":1,"claim":"md12936-1a7c18e4","page_group":"Chapter VI. Repeal and Other Provisions","stored_section":"IMPACT","heading":"The old circular is gone","plain_english":"The older circular that governed account aggregators before this one no longer applies.","rbi_paragraph":"Para 61","rbi_char_offset":34576,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12936#p27","layer":"bankpulse"}],"actions":[],"amendments":[],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}