{"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":"md12964","title":"Reserve Bank of India (Non-Banking Financial Companies – Acquisition of Shareholding or Control) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md12964","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":"md12964","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/md12964.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12964","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:21:46 UTC","text_sha256":"1f02b58f622a70af4bbdd26e5a9d7c76756f940932f35048bf3b9132eb7161dd","word_count":1927,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":18,"points_naming_an_rbi_paragraph":18,"points_stored":18,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md12964-32c854f0","page_group":"Chapter I. 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Acquisition of Shareholding or Control","stored_section":"WHO SHOULD ACT","heading":"Applications through PRAVAAH","plain_english":"Approval applications go through the PRAVAAH portal with shareholder details and fund sources.","rbi_paragraph":"Para 7","rbi_char_offset":7833,"weight":"BACKGROUND","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p12","layer":"bankpulse"},{"n":10,"claim":"md12964-bf5c67d1","page_group":"Chapter II. Acquisition of Shareholding or Control","stored_section":"WHO SHOULD ACT","heading":"Clean hands declared","plain_english":"Proposed shareholders declare no criminal cases, including cheque bouncing cases, against them.","rbi_paragraph":"Para 7(5)","rbi_char_offset":8475,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p13","layer":"bankpulse"},{"n":11,"claim":"md12964-dc8ac1a5","page_group":"Chapter II. Acquisition of Shareholding or Control","stored_section":"WHO SHOULD ACT","heading":"A banker's report too","plain_english":"A banker's report on each proposed shareholder goes with the application.","rbi_paragraph":"Para 7(6)","rbi_char_offset":8646,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p14","layer":"bankpulse"},{"n":12,"claim":"md12964-d9c25d36","page_group":"Chapter II. Acquisition of Shareholding or Control","stored_section":"WHAT CHANGES","heading":"The notice names the buyer","plain_english":"The notice states the intention, the buyer's particulars and the reasons for the transfer.","rbi_paragraph":"Para 10","rbi_char_offset":9743,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p15","layer":"bankpulse"},{"n":13,"claim":"md12964-7be55714","page_group":"Chapter II. Acquisition of Shareholding or Control","stored_section":"WHAT CHANGES","heading":"Earlier investors may stay","plain_english":"Investors from before a country joined the watch list may keep and even add their money.","rbi_paragraph":"Para 13","rbi_char_offset":11619,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p16","layer":"bankpulse"},{"n":1,"claim":"md12964-1be4c6a1","page_group":"Chapter III. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old guidance repealed","plain_english":"All earlier ownership change rules for finance companies stand repealed from the day these directions arrived.","rbi_paragraph":"Para 14","rbi_char_offset":12016,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p17","layer":"bankpulse"},{"n":2,"claim":"md12964-a500f314","page_group":"Chapter III. 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 15","rbi_char_offset":12385,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12964#p18","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. 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