{"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":"md12997","title":"Reserve Bank of India (Rural Co-operative Banks – Transfer and Distribution of Credit Risk) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md12997","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":"md12997","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/md12997.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=12997","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:19:46 UTC","text_sha256":"24058e92989ff68bc6d2beafd159eabb0c6dd61fd5644a3d1f2f63747d61de8c","word_count":5294,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":32,"points_naming_an_rbi_paragraph":32,"points_stored":32,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md12997-6e75af2a","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":3131,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p1","layer":"bankpulse"},{"n":2,"claim":"md12997-d8cd79b1","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"The directions apply to rural co-operative banks.","rbi_paragraph":"Para 3","rbi_char_offset":3269,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p2","layer":"bankpulse"},{"n":3,"claim":"md12997-d0529741","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Which banks these are","plain_english":"That means state co-operative banks and central co-operative banks under the 1981 national farm bank law.","rbi_paragraph":"Para 3","rbi_char_offset":3413,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["agriculture-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p3","layer":"bankpulse"},{"n":1,"claim":"md12997-3c87b682","page_group":"Chapter II. Scope and Definitions","stored_section":"THE CORE IDEA","heading":"Selling only, never buying","plain_english":"A rural co-operative bank may only sell stressed loans; it may never buy loans of any kind.","rbi_paragraph":"Para 7","rbi_char_offset":4196,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p4","layer":"bankpulse"},{"n":2,"claim":"md12997-7be45d7f","page_group":"Chapter II. Scope and Definitions","stored_section":"THE CORE IDEA","heading":"Ownership must move","plain_english":"Legal ownership must move to the buyer to the extent of the interest transferred.","rbi_paragraph":"Para 9","rbi_char_offset":4999,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p5","layer":"bankpulse"},{"n":3,"claim":"md12997-70c74d40","page_group":"Chapter II. Scope and Definitions","stored_section":"THE CORE IDEA","heading":"One rulebook for transfers","plain_english":"No loan transfer or acquisition may happen outside what this framework permits.","rbi_paragraph":"Para 8","rbi_char_offset":4389,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p6","layer":"bankpulse"},{"n":1,"claim":"md12997-128b293a","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"Terms stay unchanged","plain_english":"A transfer must not change the loan's terms; any change is tested against the restructuring rules.","rbi_paragraph":"Para 14","rbi_char_offset":11436,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p7","layer":"bankpulse"},{"n":2,"claim":"md12997-6416057d","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"No safety nets","plain_english":"Lenders may not offer credit enhancement or liquidity support in any form on loan transfers.","rbi_paragraph":"Para 15(4)","rbi_char_offset":11845,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p8","layer":"bankpulse"},{"n":3,"claim":"md12997-247b0db9","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"Borrowers' rights stand","plain_english":"The transfer must not override borrowers' rights, and needed consents must be in hand.","rbi_paragraph":"Para 20","rbi_char_offset":14033,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p9","layer":"bankpulse"},{"n":4,"claim":"md12997-f8c71ee8","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"RBI told of make-goods","plain_english":"Every replacement of a transferred loan, or damages paid, is reported to RBI's supervision department.","rbi_paragraph":"Para 21","rbi_char_offset":14260,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p10","layer":"bankpulse"},{"n":5,"claim":"md12997-14bc1af0","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"No mixing of money","plain_english":"A servicing bank holds the loan cash flows in trust and never mixes them with its own.","rbi_paragraph":"Para 26(8)","rbi_char_offset":16790,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p11","layer":"bankpulse"},{"n":6,"claim":"md12997-e18f8812","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHO SHOULD ACT","heading":"Sellers kept separate","plain_english":"Staff who transfer loans must work and report independently of staff who originate them.","rbi_paragraph":"Para 13","rbi_char_offset":11111,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p12","layer":"bankpulse"},{"n":7,"claim":"md12997-97c77f12","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"THE CORE IDEA","heading":"A clean break","plain_english":"The transfer must separate the seller at once from the risks and rewards, to the extent transferred.","rbi_paragraph":"Para 16","rbi_char_offset":11986,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p13","layer":"bankpulse"},{"n":8,"claim":"md12997-54618614","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHO SHOULD ACT","heading":"A board policy first","plain_english":"A board approved policy sets the standards for due diligence, valuation, systems and oversight.","rbi_paragraph":"Para 13","rbi_char_offset":10714,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p14","layer":"bankpulse"},{"n":9,"claim":"md12997-880b7c38","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"The buyer stands free","plain_english":"The buyer gets an unrestricted right to sell on, with no recourse to the seller beyond what is permitted.","rbi_paragraph":"Para 17","rbi_char_offset":12552,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p15","layer":"bankpulse"},{"n":10,"claim":"md12997-f8d37bc0","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"No promise to refund","plain_english":"The seller owes no re-purchase, funding or substitution, except for breach of stated warranties.","rbi_paragraph":"Para 18","rbi_char_offset":13202,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p16","layer":"bankpulse"},{"n":11,"claim":"md12997-5435b277","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"Break the rules, hold capital","plain_english":"If a transfer fails these tests, the buyer holds full capital and the seller keeps the loan on its books.","rbi_paragraph":"Para 23","rbi_char_offset":14717,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p17","layer":"bankpulse"},{"n":12,"claim":"md12997-bf39954f","page_group":"Chapter III. General Conditions applicable for all loan transfers","stored_section":"WHAT CHANGES","heading":"Servicing at arm's length","plain_english":"The seller may service the sold loans only under strict written, arm's length conditions with no hidden support.","rbi_paragraph":"Para 26","rbi_char_offset":15465,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p18","layer":"bankpulse"},{"n":1,"claim":"md12997-6217b998","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Stressed sales, two ways only","plain_english":"Stressed loans move only by assignment or novation, never any other route.","rbi_paragraph":"Para 28","rbi_char_offset":17408,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p19","layer":"bankpulse"},{"n":2,"claim":"md12997-e3ff8ce3","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Two valuers above 100 crore","plain_english":"A stressed exposure of ₹100 crore or more needs two external valuation reports, at the seller's cost.","rbi_paragraph":"Para 31","rbi_char_offset":19383,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A stressed exposure of ₹120 crore is being transferred. Two external valuation reports are needed, because the exposure is ₹100 crore or more. An exposure of ₹90 crore is below ₹100 crore, so this rule does not apply.","anchor":"https://bankpulse.ai/rule/md12997#p20","layer":"bankpulse"},{"n":3,"claim":"md12997-a9ed0ebc","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Open challenge, big sales","plain_english":"A bilateral stressed sale of ₹100 crore or more must face a public counter bidding round.","rbi_paragraph":"Para 34","rbi_char_offset":19953,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p21","layer":"bankpulse"},{"n":4,"claim":"md12997-c8dfefe8","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Twelve months of distance","plain_english":"After selling a stressed loan the bank takes no fresh exposure to that borrower for at least 12 months.","rbi_paragraph":"Para 35","rbi_char_offset":20976,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p22","layer":"bankpulse"},{"n":5,"claim":"md12997-38bf365f","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"KEY DATES","heading":"Five years for old receipts","plain_english":"The value gap on older security receipts may be provided over a five-year period from the year ending March 31, 2022.","rbi_paragraph":"Para 46(1)","rbi_char_offset":26715,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p23","layer":"bankpulse"},{"n":6,"claim":"md12997-8d21ea21","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"The counter bid band","plain_english":"The minimum mark up for a counter bid is between five per cent and 15 per cent of the base bid.","rbi_paragraph":"Para 51(2)","rbi_char_offset":30157,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p24","layer":"bankpulse"},{"n":7,"claim":"md12997-9cc0bae8","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHO SHOULD ACT","heading":"A fifth every year","plain_english":"A board approved plan must set aside at least one fifth of the gap in each financial year.","rbi_paragraph":"Para 46(3)","rbi_char_offset":27038,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p25","layer":"bankpulse"},{"n":8,"claim":"md12997-79df57ef","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHO SHOULD ACT","heading":"Top-down identification","plain_english":"The head office actively identifies stressed loans for transfer, and the board reviews those above a threshold.","rbi_paragraph":"Para 30(1)","rbi_char_offset":18217,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p26","layer":"bankpulse"},{"n":9,"claim":"md12997-5476bb95","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"A floor under the discount","plain_english":"The internal valuation's discount rate has a floor: the contracted interest rate charged on the loan.","rbi_paragraph":"Para 31","rbi_char_offset":19203,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p27","layer":"bankpulse"},{"n":10,"claim":"md12997-0d8000cb","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Selling below value hurts now","plain_english":"A sale below net book value is debited to that year's profit and loss account.","rbi_paragraph":"Para 38","rbi_char_offset":21844,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p28","layer":"bankpulse"},{"n":11,"claim":"md12997-e218a5d5","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Even fraud loans move","plain_english":"Even fraud classified loans may transfer to asset reconstruction companies.","rbi_paragraph":"Para 41","rbi_char_offset":22803,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p29","layer":"bankpulse"},{"n":12,"claim":"md12997-6a9e3ecc","page_group":"Chapter IV. Transfer of stressed loans","stored_section":"WHAT CHANGES","heading":"Unredeemed receipts are losses","plain_english":"Security receipts still unredeemed at the end of the resolution period are treated as loss assets, fully provided.","rbi_paragraph":"Para 48","rbi_char_offset":28513,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p30","layer":"bankpulse"},{"n":1,"claim":"md12997-32c65910","page_group":"Chapter V. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old guidance repealed","plain_english":"All earlier rules on credit risk transfer for rural co-operative banks stand repealed from the day these directions arrived.","rbi_paragraph":"Para 56","rbi_char_offset":33053,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p31","layer":"bankpulse"},{"n":2,"claim":"md12997-1079c38d","page_group":"Chapter V. 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 57","rbi_char_offset":33365,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md12997#p32","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."}