{"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":"md12988","title":"Reserve Bank of India (Rural Co-operative Banks – Know Your Customer) Directions, 2025 (Updated as on December 29, 2025)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md12988","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":"Rural co-operative banks","class_code":"RURAL_COOP","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md12988","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/md12988.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12988","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:19:31 UTC","text_sha256":"afefa6fe0b7fc8f20dd5b31215cfa2d9935c0a3c85c00ed3fe0d60b613916497","word_count":21658,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":79,"points_naming_an_rbi_paragraph":79,"points_stored":79,"actions":0,"amendments":1},"points":[{"n":1,"claim":"md12988-c9e31fd3","page_group":"Opening paragraphs","stored_section":"THE CORE IDEA","heading":"The law behind it","plain_english":"The rules rest on the Prevention of Money-Laundering Act, 2002 and its 2005 Rules.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":4083,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p1","layer":"bankpulse"},{"n":1,"claim":"md12988-a2b2a013","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Ten per cent, a company","plain_english":"For a company, holding more than ten per cent is one test of beneficial ownership.","rbi_paragraph":"Para 4(1)","rbi_char_offset":7183,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p2","layer":"bankpulse"},{"n":2,"claim":"md12988-527ac909","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Fifteen per cent, a body","plain_english":"In an unincorporated body the same test is more than fifteen per cent.","rbi_paragraph":"Para 4(1)","rbi_char_offset":8198,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p3","layer":"bankpulse"},{"n":3,"claim":"md12988-12b05305","page_group":"Chapter I. Preliminary","stored_section":"WHO SHOULD ACT","heading":"Designated Director named","plain_english":"The Board must name a Designated Director who answers for compliance under the Act.","rbi_paragraph":"Para 4(1)","rbi_char_offset":10088,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p4","layer":"bankpulse"},{"n":4,"claim":"md12988-9c1d3e8e","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"KYC rules for RCBs","plain_english":"This document sets the customer identification rules for rural co-operative banks.","rbi_paragraph":"Para 1","rbi_char_offset":5291,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p5","layer":"bankpulse"},{"n":5,"claim":"md12988-fdeadebf","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to every rural co-operative bank.","rbi_paragraph":"Para 3","rbi_char_offset":5497,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p6","layer":"bankpulse"},{"n":6,"claim":"md12988-30c0b157","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Control counts as well","plain_english":"A person who controls the entity by other means is a beneficial owner too.","rbi_paragraph":"Para 4(1)","rbi_char_offset":7024,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p7","layer":"bankpulse"},{"n":7,"claim":"md12988-722848fa","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Then the senior official","plain_english":"Where no natural person can be found, the senior managing official is named.","rbi_paragraph":"Para 4(1)","rbi_char_offset":8520,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p8","layer":"bankpulse"},{"n":8,"claim":"md12988-4c2f75de","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What a remote customer is","plain_english":"A remote customer is one who opens an account without meeting the bank at all.","rbi_paragraph":"Para 4(2)","rbi_char_offset":20212,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p9","layer":"bankpulse"},{"n":9,"claim":"md12988-d07cb8e0","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What a shell bank is","plain_english":"A shell bank has no physical presence where it is licensed and no real group behind it.","rbi_paragraph":"Para 4(2)","rbi_char_offset":21862,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p10","layer":"bankpulse"},{"n":10,"claim":"md12988-375d0151","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Video call identification","plain_english":"A bank officer may identify a customer over a live video call.","rbi_paragraph":"Para 4(2)","rbi_char_offset":22389,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p11","layer":"bankpulse"},{"n":11,"claim":"md12988-a4694946","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Video equals a meeting","plain_english":"A video call that follows the rules counts the same as meeting in person.","rbi_paragraph":"Para 4(2)","rbi_char_offset":22891,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p12","layer":"bankpulse"},{"n":1,"claim":"md12988-d1955d80","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Never tip off a customer","plain_english":"Group information sharing must be built so that nobody is tipped off.","rbi_paragraph":"Para 7","rbi_char_offset":29741,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p13","layer":"bankpulse"},{"n":2,"claim":"md12988-942a1d2e","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"The decision stays inside","plain_english":"Whether KYC has been met is a decision the bank cannot outsource to anyone.","rbi_paragraph":"Para 12","rbi_char_offset":32843,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p14","layer":"bankpulse"},{"n":3,"claim":"md12988-67db45b0","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Director reported to FIU-IND","plain_english":"The name and contact details of that Director must go to FIU-IND and RBI.","rbi_paragraph":"Para 13(2)","rbi_char_offset":33249,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p15","layer":"bankpulse"},{"n":4,"claim":"md12988-058f7416","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Board approves KYC policy","plain_english":"The Board must approve the bank's customer identification policy.","rbi_paragraph":"Para 5(1)","rbi_char_offset":27700,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p16","layer":"bankpulse"},{"n":5,"claim":"md12988-8d8687ea","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Four parts to the policy","plain_english":"The policy must cover acceptance, risk management, identification and monitoring.","rbi_paragraph":"Para 5(2)","rbi_char_offset":27781,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p17","layer":"bankpulse"},{"n":6,"claim":"md12988-6637fa5a","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Board policy on mobile changes","plain_english":"A Board approved policy is needed for changing a mobile number on a remote account.","rbi_paragraph":"Para 5(3)","rbi_char_offset":28543,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p18","layer":"bankpulse"},{"n":7,"claim":"md12988-49c387da","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Board approves cross-border terms","plain_english":"The Board, or a committee led by the Chairman or chief executive, sets the terms.","rbi_paragraph":"Para 5(3)","rbi_char_offset":28762,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p19","layer":"bankpulse"},{"n":8,"claim":"md12988-c054b8e5","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Quarterly note to the committee","plain_english":"An audit note and compliance go to the Audit Committee every quarter.","rbi_paragraph":"Para 11(5)","rbi_char_offset":32734,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p20","layer":"bankpulse"},{"n":9,"claim":"md12988-cbb329b7","page_group":"Chapter II. General","stored_section":"WHO SHOULD ACT","heading":"Principal Officer duties","plain_english":"The Principal Officer watches transactions and reports what the law requires.","rbi_paragraph":"Para 14(1)","rbi_char_offset":33498,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p21","layer":"bankpulse"},{"n":1,"claim":"md12988-e2b6b6ed","page_group":"Chapter III. Customer Acceptance Policy","stored_section":"WHAT CHANGES","heading":"No anonymous accounts","plain_english":"No account may be opened in an anonymous, fictitious or benami name.","rbi_paragraph":"Para 16(1)","rbi_char_offset":33938,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p22","layer":"bankpulse"},{"n":2,"claim":"md12988-9fc407d4","page_group":"Chapter III. Customer Acceptance Policy","stored_section":"WHAT CHANGES","heading":"No account without checks","plain_english":"Where customer due diligence cannot be done, the account is not opened at all.","rbi_paragraph":"Para 16(2)","rbi_char_offset":34008,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p23","layer":"bankpulse"},{"n":1,"claim":"md12988-236e20b7","page_group":"Chapter V. Customer Identification Procedure (CIP)","stored_section":"WHAT CHANGES","heading":"Walk-in customers too","plain_english":"A walk-in customer paying ₹50,000 or more must be identified in the same way.","rbi_paragraph":"Para 20(5)","rbi_char_offset":38852,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p24","layer":"bankpulse"},{"n":1,"claim":"md12988-cac29777","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"OTP account balance limit","plain_english":"In an Aadhaar one-time password account the total balance cannot cross one lakh rupees.","rbi_paragraph":"Para 24(3)","rbi_char_offset":51866,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p25","layer":"bankpulse"},{"n":2,"claim":"md12988-12f53c81","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Two lakh a year","plain_english":"Credits into those accounts in a financial year cannot cross two lakh rupees.","rbi_paragraph":"Para 24(4)","rbi_char_offset":52113,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p26","layer":"bankpulse"},{"n":3,"claim":"md12988-c5b71d96","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"OTP account, one year","plain_english":"An account opened by Aadhaar one-time password cannot run past one year without full checks.","rbi_paragraph":"Para 24(6)","rbi_char_offset":52460,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p27","layer":"bankpulse"},{"n":4,"claim":"md12988-62feab47","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Questions must change","plain_english":"The officer must change the questions so the video cannot be a recording.","rbi_paragraph":"Para 26(2)","rbi_char_offset":58776,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p28","layer":"bankpulse"},{"n":5,"claim":"md12988-4d2b249f","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Printed e-PAN not valid","plain_english":"A printed copy of an electronic document, such as an e-PAN, cannot be used.","rbi_paragraph":"Para 26(2)","rbi_char_offset":61358,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p29","layer":"bankpulse"},{"n":6,"claim":"md12988-7dd68425","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Small account credit limit","plain_english":"In a small account, credits in a financial year cannot cross one lakh rupees.","rbi_paragraph":"Para 27(1)","rbi_char_offset":63132,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p30","layer":"bankpulse"},{"n":7,"claim":"md12988-3529921f","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Small account withdrawal limit","plain_english":"Withdrawals and transfers together cannot cross ten thousand rupees in a month.","rbi_paragraph":"Para 27(2)","rbi_char_offset":63218,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p31","layer":"bankpulse"},{"n":8,"claim":"md12988-397e44d0","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Risk reviewed twice a year","plain_english":"Customer risk categories must be reviewed at least once in every six months.","rbi_paragraph":"Para 40(1)","rbi_char_offset":75383,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p32","layer":"bankpulse"},{"n":9,"claim":"md12988-45e27600","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"High risk, two years","plain_english":"Papers of a high-risk customer must be refreshed at least once in two years.","rbi_paragraph":"Para 41(1)","rbi_char_offset":76410,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"Suppose a high-risk customer's papers were refreshed today. They must be refreshed again within two years. For a medium-risk customer the same papers would last eight years. For low risk they would last 10 years.","anchor":"https://bankpulse.ai/rule/md12988#p33","layer":"bankpulse"},{"n":10,"claim":"md12988-81b4dcd9","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Medium risk, eight years","plain_english":"For a medium-risk customer the gap may be eight years.","rbi_paragraph":"Para 41(1)","rbi_char_offset":76468,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p34","layer":"bankpulse"},{"n":11,"claim":"md12988-6bc4cfc6","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Low risk, ten years","plain_english":"For a low-risk customer the gap may be ten years.","rbi_paragraph":"Para 41(1)","rbi_char_offset":76524,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p35","layer":"bankpulse"},{"n":12,"claim":"md12988-87d3ccdd","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"KEY DATES","heading":"Thirty days to update","plain_english":"A change in a customer's papers must reach the bank's records within 30 days.","rbi_paragraph":"Para 41(6)","rbi_char_offset":84536,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p36","layer":"bankpulse"},{"n":13,"claim":"md12988-b0b06f0e","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"No second mobile number","plain_english":"A second mobile number cannot be linked to such an account for one-time passwords.","rbi_paragraph":"Para 43(2)","rbi_char_offset":88726,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p37","layer":"bankpulse"},{"n":14,"claim":"md12988-eb38d765","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Live location in video","plain_english":"The video must carry the customer's live location, with the date and time.","rbi_paragraph":"Para 26(1)","rbi_char_offset":55885,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p38","layer":"bankpulse"},{"n":15,"claim":"md12988-fbc7a111","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Aadhaar number blacked out","plain_english":"The Aadhaar number must be blacked out in the records the bank keeps.","rbi_paragraph":"Para 26(2)","rbi_char_offset":59895,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p39","layer":"bankpulse"},{"n":16,"claim":"md12988-016a742e","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Video data kept in India","plain_english":"The whole video record must sit on systems inside India.","rbi_paragraph":"Para 26(3)","rbi_char_offset":62476,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p40","layer":"bankpulse"},{"n":17,"claim":"md12988-0345facb","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Three warnings before","plain_english":"At least three advance intimations must go out before KYC falls due, one by letter.","rbi_paragraph":"Para 41(7)","rbi_char_offset":84838,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p41","layer":"bankpulse"},{"n":18,"claim":"md12988-50325819","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Three reminders after","plain_english":"At least three reminders must follow, again including one by letter.","rbi_paragraph":"Para 41(7)","rbi_char_offset":85135,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p42","layer":"bankpulse"},{"n":19,"claim":"md12988-786ca524","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Notice before stopping account","plain_english":"Before it temporarily stops an account for a missing PAN, the bank must give notice.","rbi_paragraph":"Para 42","rbi_char_offset":86182,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p43","layer":"bankpulse"},{"n":20,"claim":"md12988-2d3c09b7","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"First credit from own bank","plain_english":"The first money into such an account must come from the customer's checked account.","rbi_paragraph":"Para 43(5)","rbi_char_offset":89541,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p44","layer":"bankpulse"},{"n":21,"claim":"md12988-6dd98e43","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Find the source of funds","plain_english":"For a politically exposed person the source of funds and wealth must be established.","rbi_paragraph":"Para 44(1)","rbi_char_offset":90218,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p45","layer":"bankpulse"},{"n":22,"claim":"md12988-a3ef2787","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Senior approval for PEPs","plain_english":"If a customer becomes a politically exposed person, senior management must approve keeping the account.","rbi_paragraph":"Para 44(1)","rbi_char_offset":90653,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p46","layer":"bankpulse"},{"n":23,"claim":"md12988-1b6ca26c","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Only term loans there","plain_english":"In such an account only a term loan may be sanctioned, within a set ceiling.","rbi_paragraph":"Para 24(5)","rbi_char_offset":52271,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p47","layer":"bankpulse"},{"n":24,"claim":"md12988-66787047","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Audit before account opens","plain_english":"An account opened by video call starts working only after an audit clears it.","rbi_paragraph":"Para 26(2)","rbi_char_offset":62087,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p48","layer":"bankpulse"},{"n":25,"claim":"md12988-9dcf3dc2","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Government money not counted","plain_english":"Government grants and welfare payments do not count against that balance limit.","rbi_paragraph":"Para 27(3)","rbi_char_offset":63432,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p49","layer":"bankpulse"},{"n":26,"claim":"md12988-e429cb3a","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Only credits on loans","plain_english":"When a loan account is stopped, only credits into it are allowed.","rbi_paragraph":"Para 42","rbi_char_offset":87437,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p50","layer":"bankpulse"},{"n":27,"claim":"md12988-e65c28cf","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Watched until met in person","plain_english":"Such an account stays under closer watch until the customer is seen or verified by video.","rbi_paragraph":"Para 43(6)","rbi_char_offset":89723,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p51","layer":"bankpulse"},{"n":28,"claim":"md12988-2d649034","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Politically exposed persons","plain_english":"A relationship with a politically exposed person is allowed only on set terms.","rbi_paragraph":"Para 44","rbi_char_offset":89835,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p52","layer":"bankpulse"},{"n":29,"claim":"md12988-66ade2c5","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHO SHOULD ACT","heading":"Senior approval for a PEP","plain_english":"Opening an account for such a person needs senior management approval.","rbi_paragraph":"Para 44(1)","rbi_char_offset":90311,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p53","layer":"bankpulse"},{"n":30,"claim":"md12988-157a8dbb","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Their families are covered","plain_english":"The same duties apply to the family members and close associates of such a person.","rbi_paragraph":"Para 44(2)","rbi_char_offset":90699,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p54","layer":"bankpulse"},{"n":31,"claim":"md12988-1c0a35c2","page_group":"Chapter VI. Customer Due Diligence (CDD) Procedure","stored_section":"WHAT CHANGES","heading":"Self help groups eased","plain_english":"The bank need not check every member of a self help group at account opening.","rbi_paragraph":"Para 46(1)","rbi_char_offset":92571,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["deposit-account","microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p55","layer":"bankpulse"},{"n":1,"claim":"md12988-075f7aa7","page_group":"Chapter VII. Record Management","stored_section":"KEY DATES","heading":"Records kept five years","plain_english":"Transaction records must be kept for at least five years from the date of the transaction.","rbi_paragraph":"Para 49(1)","rbi_char_offset":97809,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p56","layer":"bankpulse"},{"n":2,"claim":"md12988-17ef5f73","page_group":"Chapter VII. Record Management","stored_section":"KEY DATES","heading":"Identity papers after closure","plain_english":"Customer identity records must be kept for five years after the relationship ends.","rbi_paragraph":"Para 49(2)","rbi_char_offset":97985,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p57","layer":"bankpulse"},{"n":3,"claim":"md12988-3e96abec","page_group":"Chapter VII. Record Management","stored_section":"WHO SHOULD ACT","heading":"Charities on DARPAN","plain_english":"A non-profit customer must be registered on the DARPAN portal of NITI Aayog.","rbi_paragraph":"Para 50","rbi_char_offset":99565,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p58","layer":"bankpulse"},{"n":1,"claim":"md12988-566b61fb","page_group":"Chapter VIII. Reporting Requirements to Financial Intelligence Unit – India","stored_section":"WHAT CHANGES","heading":"Alerts for odd transactions","plain_english":"Software must raise an alert when a transaction does not match the customer's profile.","rbi_paragraph":"Para 54","rbi_char_offset":102517,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p59","layer":"bankpulse"},{"n":2,"claim":"md12988-8c850a68","page_group":"Chapter VIII. Reporting Requirements to Financial Intelligence Unit – India","stored_section":"WHAT CHANGES","heading":"Report does not freeze","plain_english":"Filing a suspicious transaction report is not by itself a reason to stop an account.","rbi_paragraph":"Para 53","rbi_char_offset":101860,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p60","layer":"bankpulse"},{"n":1,"claim":"md12988-80b929bf","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHAT CHANGES","heading":"Freeze order acted on","plain_english":"A freeze order under section 12A must be acted on without delay.","rbi_paragraph":"Para 56(8)","rbi_char_offset":107174,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p61","layer":"bankpulse"},{"n":2,"claim":"md12988-44bdc7c3","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHO SHOULD ACT","heading":"Sanctions list checked daily","plain_english":"The UNSCR 1718 sanctions list must be checked every single day.","rbi_paragraph":"Para 57","rbi_char_offset":107652,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p62","layer":"bankpulse"},{"n":3,"claim":"md12988-9f48b899","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHO SHOULD ACT","heading":"Duty under the UAPA","plain_english":"The bank carries duties under section 51A of the Unlawful Activities Prevention Act.","rbi_paragraph":"Para 55","rbi_char_offset":102724,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p63","layer":"bankpulse"},{"n":4,"claim":"md12988-5fe050e5","page_group":"Chapter IX. Requirements/obligations under International Agreements - Communications from International Agencies","stored_section":"WHO SHOULD ACT","heading":"Duty under the WMD Act","plain_english":"Separate duties arise under the Weapons of Mass Destruction Act of 2005.","rbi_paragraph":"Para 56","rbi_char_offset":105045,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p64","layer":"bankpulse"},{"n":1,"claim":"md12988-06be154f","page_group":"Chapter X. Other Instructions","stored_section":"KEY DATES","heading":"Ten days to the registry","plain_english":"A new customer's KYC record goes to the central registry within ten days.","rbi_paragraph":"Para 64(2)","rbi_char_offset":112197,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p65","layer":"bankpulse"},{"n":2,"claim":"md12988-ab98d176","page_group":"Chapter X. Other Instructions","stored_section":"KEY DATES","heading":"Seven days for an update","plain_english":"Updated customer information must reach the central registry within seven days.","rbi_paragraph":"Para 64(10)","rbi_char_offset":113956,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p66","layer":"bankpulse"},{"n":3,"claim":"md12988-adaaa51b","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Money mule accounts","plain_english":"The bank must find accounts used as money mules and report them to FIU-IND.","rbi_paragraph":"Para 67","rbi_char_offset":119015,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p67","layer":"bankpulse"},{"n":4,"claim":"md12988-fd2cf195","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Account payee cheques","plain_english":"The bank cannot collect an account payee cheque for anyone except the payee.","rbi_paragraph":"Para 68","rbi_char_offset":119467,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p68","layer":"bankpulse"},{"n":5,"claim":"md12988-a0b58ac6","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"No dealing with shell banks","plain_english":"A correspondent relationship with a shell bank cannot be opened or continued.","rbi_paragraph":"Para 72(7)","rbi_char_offset":122729,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p69","layer":"bankpulse"},{"n":6,"claim":"md12988-7293a66a","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Nor through another bank","plain_english":"The respondent bank must not let a shell bank use its accounts either.","rbi_paragraph":"Para 72(8)","rbi_char_offset":122845,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p70","layer":"bankpulse"},{"n":7,"claim":"md12988-53d471b4","page_group":"Chapter X. Other Instructions","stored_section":"KEY DATES","heading":"Three days for details","plain_english":"Details of a wire transfer must be supplied within three working days of a request.","rbi_paragraph":"Para 73(1)","rbi_char_offset":125662,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p71","layer":"bankpulse"},{"n":8,"claim":"md12988-aa2f73e9","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Splitting transfers still checked","plain_english":"A person splitting transfers to stay below ₹50,000 must still be identified.","rbi_paragraph":"Para 73(1)","rbi_char_offset":127748,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p72","layer":"bankpulse"},{"n":9,"claim":"md12988-d39b9ea1","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Transfer stopped if unclear","plain_english":"The bank must not send the transfer if it cannot meet these rules.","rbi_paragraph":"Para 73(1)","rbi_char_offset":128162,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p73","layer":"bankpulse"},{"n":10,"claim":"md12988-35285c4c","page_group":"Chapter X. Other Instructions","stored_section":"WHO SHOULD ACT","heading":"Foreign tax reporting too","plain_english":"The rules on foreign account tax reporting must be followed alongside these.","rbi_paragraph":"Para 65","rbi_char_offset":116504,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p74","layer":"bankpulse"},{"n":11,"claim":"md12988-b8cedcd9","page_group":"Chapter X. Other Instructions","stored_section":"WHO SHOULD ACT","heading":"Training differs by role","plain_english":"Training must differ for counter staff, compliance staff and staff opening new accounts.","rbi_paragraph":"Para 78(3)","rbi_char_offset":137139,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p75","layer":"bankpulse"},{"n":12,"claim":"md12988-13a4f9c3","page_group":"Chapter X. Other Instructions","stored_section":"WHAT CHANGES","heading":"Records sent to CKYCR","plain_english":"Records of company accounts opened on or after 1 April 2021 go to CKYCR.","rbi_paragraph":"Para 64(6)","rbi_char_offset":113036,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p76","layer":"bankpulse"},{"n":1,"claim":"md12988-fec1aa24","page_group":"Chapter XI. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old actions preserved","plain_english":"Anything already done under the old rules stays governed by those old rules.","rbi_paragraph":"Para 80","rbi_char_offset":138000,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p77","layer":"bankpulse"},{"n":2,"claim":"md12988-d78658c7","page_group":"Chapter XI. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Approvals carried over","plain_english":"Approvals given under the cancelled rules are now treated as given under these rules.","rbi_paragraph":"Para 80","rbi_char_offset":138199,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p78","layer":"bankpulse"},{"n":3,"claim":"md12988-ad3e029d","page_group":"Chapter XI. Repeal and Other Provisions","stored_section":"IMPACT","heading":"Other laws still apply","plain_english":"These Directions add to other laws. They do not replace any of them.","rbi_paragraph":"Para 81","rbi_char_offset":139070,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12988#p79","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13239","title":"Reserve Bank of India (Rural Co-operative Banks – Know Your Customer) Amendment Directions, 2025","date":"Dec 29, 2025","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13239&Mode=0","order":1,"layer":"rbi_source"}],"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."}