{"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":"md12958","title":"Reserve Bank of India (Non-Banking Financial Companies – Acceptance of Public Deposits) Directions, 2025 (Updated as on April 15, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md12958","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":"md12958","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/md12958.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12958","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:21:35 UTC","text_sha256":"7b3d1a7a342a87bb2791cff8547aecb76a256418d5e8cb4871779e47b29a0b9b","word_count":10132,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":37,"points_naming_an_rbi_paragraph":37,"points_stored":37,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md12958-d6eb8076","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"In force on posting","plain_english":"These directions took effect the day they were placed on RBI's website.","rbi_paragraph":"Para 2","rbi_char_offset":3138,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p1","layer":"bankpulse"},{"n":2,"claim":"md12958-5bf0d9dd","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"The directions bind deposit taking finance companies, deposit taking housing lenders and government finance companies.","rbi_paragraph":"Para 3(1)","rbi_char_offset":3328,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p2","layer":"bankpulse"},{"n":3,"claim":"md12958-ce00d59e","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"A yearly no-deposit promise","plain_english":"A company holding no public deposits stays out by passing a board resolution saying so every year.","rbi_paragraph":"Para 3(2)","rbi_char_offset":5066,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p3","layer":"bankpulse"},{"n":1,"claim":"md12958-dfb669fb","page_group":"Chapter II. Requirement of Maintenance of Liquid Assets","stored_section":"WHAT CHANGES","heading":"Fifteen per cent kept liquid","plain_english":"At least 15 per cent of deposits must sit in unencumbered approved securities, valued at market or lower.","rbi_paragraph":"Para 10","rbi_char_offset":20882,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p4","layer":"bankpulse"},{"n":1,"claim":"md12958-003f2bd3","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"THE CORE IDEA","heading":"A rating before deposits","plain_english":"No company may take public deposits without an investment grade rating renewed every year.","rbi_paragraph":"Para 12","rbi_char_offset":22184,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p5","layer":"bankpulse"},{"n":2,"claim":"md12958-f52b9859","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"THE CORE IDEA","heading":"Never on demand","plain_english":"No public deposit may be repayable on demand.","rbi_paragraph":"Para 15","rbi_char_offset":22958,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p6","layer":"bankpulse"},{"n":3,"claim":"md12958-4d7706fa","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"THE CORE IDEA","heading":"Twelve to sixty months","plain_english":"Every deposit must run at least twelve months and at most sixty months.","rbi_paragraph":"Para 16","rbi_char_offset":23133,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A finance company takes a deposit. The deposit must run at least twelve months, so it cannot be repaid earlier. It cannot run beyond sixty months from the date it was accepted or renewed.","anchor":"https://bankpulse.ai/rule/md12958#p7","layer":"bankpulse"},{"n":4,"claim":"md12958-d761f564","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"THE CORE IDEA","heading":"One and a half times","plain_english":"Total public deposits may never exceed one and one-half times the company's net owned fund.","rbi_paragraph":"Para 17(2)","rbi_char_offset":23579,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p8","layer":"bankpulse"},{"n":5,"claim":"md12958-96377f6d","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHAT CHANGES","heading":"Interest capped","plain_english":"Interest on a public deposit may not exceed twelve and half per cent a year.","rbi_paragraph":"Para 19","rbi_char_offset":24566,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p9","layer":"bankpulse"},{"n":6,"claim":"md12958-3ccabfc5","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHAT CHANGES","heading":"Monthly rests at shortest","plain_english":"Interest compounding cannot be more frequent than monthly.","rbi_paragraph":"Para 19","rbi_char_offset":24653,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p10","layer":"bankpulse"},{"n":7,"claim":"md12958-2872ff0b","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHAT CHANGES","heading":"Broker pay capped","plain_english":"A deposit broker's commission is capped at two per cent of what he collects.","rbi_paragraph":"Para 21(1)","rbi_char_offset":25450,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p11","layer":"bankpulse"},{"n":8,"claim":"md12958-27739037","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHO SHOULD ACT","heading":"Fourteen days notice","plain_english":"The company must tell the depositor at least 14 days before a deposit matures.","rbi_paragraph":"Para 22","rbi_char_offset":25756,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p12","layer":"bankpulse"},{"n":9,"claim":"md12958-3f7d9877","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHAT CHANGES","heading":"Deposits are not insured","plain_english":"Every advertisement must say the deposits are not insured.","rbi_paragraph":"Para 31(9)","rbi_char_offset":33483,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p13","layer":"bankpulse"},{"n":10,"claim":"md12958-6aed252e","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"THE CORE IDEA","heading":"BBB minus is the floor","plain_english":"The lowest acceptable rating is BBB- from a SEBI registered agency.","rbi_paragraph":"Para 14","rbi_char_offset":22797,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p14","layer":"bankpulse"},{"n":11,"claim":"md12958-4df5cdca","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHAT CHANGES","heading":"RBI's warning on forms","plain_english":"Forms and advertisements carry RBI's warning that it does not guarantee the company or repayment.","rbi_paragraph":"Para 29(5)","rbi_char_offset":31121,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p15","layer":"bankpulse"},{"n":12,"claim":"md12958-f3cb0566","page_group":"Chapter III. Restriction on Acceptance of Public Deposit by NBFC","stored_section":"WHO SHOULD ACT","heading":"Depositor signs the risk","plain_english":"The application form ends with the depositor confirming the deposit is at his own risk.","rbi_paragraph":"Para 29(6)","rbi_char_offset":31689,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p16","layer":"bankpulse"},{"n":1,"claim":"md12958-285c2eba","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Three month lock in","plain_english":"For the first three months no repayment and no loan against the deposit is allowed.","rbi_paragraph":"Para 35","rbi_char_offset":35893,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p17","layer":"bankpulse"},{"n":2,"claim":"md12958-6fcd7986","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Borrowing against deposits","plain_english":"After three months a depositor may borrow up to 75 per cent of the deposit.","rbi_paragraph":"Para 36(2)","rbi_char_offset":36863,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["advance-against-deposit"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p18","layer":"bankpulse"},{"n":3,"claim":"md12958-a6ecdab6","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Urgent expenses allow early payout","plain_english":"For a depositor's urgent expenses, up to half the deposit or ₹5 lakh, whichever is lower, may be paid early without interest.","rbi_paragraph":"Para 37(2)","rbi_char_offset":37601,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p19","layer":"bankpulse"},{"n":4,"claim":"md12958-cdb3e80a","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Problem companies, ten thousand","plain_english":"A problem company may prepay only tiny deposits, or up to ₹10,000 of any other deposit.","rbi_paragraph":"Para 38(1)","rbi_char_offset":39238,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p20","layer":"bankpulse"},{"n":5,"claim":"md12958-82fc890e","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Nothing before six months","plain_english":"Exit between 3 and 6 months earns no interest at all.","rbi_paragraph":"Para 40","rbi_char_offset":40335,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p21","layer":"bankpulse"},{"n":6,"claim":"md12958-e4c1135b","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Early exit costs interest","plain_english":"Repayment after six months but before maturity earns 2 per cent less than the applicable rate.","rbi_paragraph":"Para 40","rbi_char_offset":40382,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p22","layer":"bankpulse"},{"n":7,"claim":"md12958-62f24bf4","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Death unlocks early","plain_english":"If the depositor dies, the money is repaid early, even inside the lock in period.","rbi_paragraph":"Para 35","rbi_char_offset":35989,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p23","layer":"bankpulse"},{"n":8,"claim":"md12958-e9f092ac","page_group":"Chapter IV. General Provisions regarding repayment of Public Deposit","stored_section":"WHAT CHANGES","heading":"Full amount for critical illness","plain_english":"For critical illness the whole deposit may be paid early, without interest.","rbi_paragraph":"Para 37(2)","rbi_char_offset":38055,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p24","layer":"bankpulse"},{"n":1,"claim":"md12958-e84e6dec","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHO SHOULD ACT","heading":"Registers kept eight years","plain_english":"Deposit registers stay preserved at least eight calendar years.","rbi_paragraph":"Para 44","rbi_char_offset":42360,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p25","layer":"bankpulse"},{"n":2,"claim":"md12958-d9ad5be5","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHAT CHANGES","heading":"Default freezes lending","plain_english":"A company that has failed to repay a deposit may not lend or invest while the default lasts.","rbi_paragraph":"Para 62(1)","rbi_char_offset":54110,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p26","layer":"bankpulse"},{"n":3,"claim":"md12958-98a7dd2b","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHAT CHANGES","heading":"Land and buildings capped","plain_english":"A deposit taking loan company may put at most ten per cent of owned funds in land or buildings.","rbi_paragraph":"Para 63(1)","rbi_char_offset":54410,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p27","layer":"bankpulse"},{"n":4,"claim":"md12958-5efaf4c2","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHAT CHANGES","heading":"Unquoted shares capped","plain_english":"Unquoted shares of outside companies are capped at twenty per cent of owned funds.","rbi_paragraph":"Para 63(2)","rbi_char_offset":54508,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p28","layer":"bankpulse"},{"n":5,"claim":"md12958-ee579cc6","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHO SHOULD ACT","heading":"Unclaimed deposits reported","plain_english":"The board's yearly report must count unclaimed and unpaid matured deposits.","rbi_paragraph":"Para 58(1)","rbi_char_offset":50570,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p29","layer":"bankpulse"},{"n":6,"claim":"md12958-4ff9a045","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"THE CORE IDEA","heading":"Full cover at all times","plain_english":"The company's assets must fully cover its public deposits at all times.","rbi_paragraph":"Para 61","rbi_char_offset":52255,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p30","layer":"bankpulse"},{"n":7,"claim":"md12958-355dd5c4","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHO SHOULD ACT","heading":"A receipt for every deposit","plain_english":"Every deposit gets a signed receipt naming the amount, rate and repayment date.","rbi_paragraph":"Para 41","rbi_char_offset":40893,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p31","layer":"bankpulse"},{"n":8,"claim":"md12958-75b32dc9","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHAT CHANGES","heading":"Securities in safe custody","plain_english":"The liquid securities backing deposits sit in a dedicated government securities account.","rbi_paragraph":"Para 53(1)","rbi_char_offset":45791,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p32","layer":"bankpulse"},{"n":9,"claim":"md12958-06f92485","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHAT CHANGES","heading":"Moving them needs RBI","plain_english":"Those securities move only to repay depositors, with the Reserve Bank's prior approval.","rbi_paragraph":"Para 54","rbi_char_offset":47905,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p33","layer":"bankpulse"},{"n":10,"claim":"md12958-bafd170a","page_group":"Chapter V. Miscellaneous Instructions","stored_section":"WHAT CHANGES","heading":"A charge for depositors","plain_english":"Depositors get a registered floating charge over the statutory liquid assets, through a trust deed.","rbi_paragraph":"Para 61(2)","rbi_char_offset":53222,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p34","layer":"bankpulse"},{"n":1,"claim":"md12958-69246d1f","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old guidance repealed","plain_english":"All earlier public deposit rules for these companies stand repealed from the day these directions arrived.","rbi_paragraph":"Para 65","rbi_char_offset":55798,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p35","layer":"bankpulse"},{"n":2,"claim":"md12958-1079c38d","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old actions stay governed","plain_english":"Action already taken under the old rules stays governed by them.","rbi_paragraph":"Para 66","rbi_char_offset":56133,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p36","layer":"bankpulse"},{"n":3,"claim":"md12958-0afc8676","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHO SHOULD ACT","heading":"Breaking rules has a price","plain_english":"Breaking these directions invites penal action under the law.","rbi_paragraph":"Para 68","rbi_char_offset":57793,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12958#p37","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."}