{"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":"md13006","title":"Reserve Bank of India (Rural Co-operative Banks - Governance) Directions, 2025 (Updated as on May 25, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13006","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":"md13006","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/md13006.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13006","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:20:01 UTC","text_sha256":"b301625bf48025f0b11c40f4de1ba764407796485420e57dc757bf1e978f7d93","word_count":5666,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":65,"points_naming_an_rbi_paragraph":65,"points_stored":65,"actions":0,"amendments":1},"points":[{"n":1,"claim":"md13006-a2a8948e","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Starts at once","plain_english":"The rules start the moment RBI issues them.","rbi_paragraph":"Para 2","rbi_char_offset":3190,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p1","layer":"bankpulse"},{"n":2,"claim":"md13006-11d66cf0","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who must follow this","plain_english":"These rules apply to every rural co-operative bank.","rbi_paragraph":"Para 3","rbi_char_offset":3272,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p2","layer":"bankpulse"},{"n":3,"claim":"md13006-3554f410","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Which banks those are","plain_english":"State co-operative banks and central co-operative banks, as the NABARD law defines them.","rbi_paragraph":"Para 3","rbi_char_offset":3653,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":["agriculture-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p3","layer":"bankpulse"},{"n":1,"claim":"md13006-58d5d085","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"THE CORE IDEA","heading":"Directors must be honest","plain_english":"Directors should be people who know their work and have high integrity.","rbi_paragraph":"Para 6","rbi_char_offset":4675,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p4","layer":"bankpulse"},{"n":2,"claim":"md13006-58c90493","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"THE CORE IDEA","heading":"They must work as one","plain_english":"Directors must work together and lead the bank smoothly.","rbi_paragraph":"Para 6","rbi_char_offset":4754,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p5","layer":"bankpulse"},{"n":3,"claim":"md13006-8313e4bc","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHO SHOULD ACT","heading":"Non members cannot join","plain_english":"A person who cannot even be a member cannot be a director.","rbi_paragraph":"Para 7(1)","rbi_char_offset":4966,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p6","layer":"bankpulse"},{"n":4,"claim":"md13006-c9052724","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHO SHOULD ACT","heading":"Money lenders cannot be directors","plain_english":"A person in money lending, financing or investment work cannot be a director.","rbi_paragraph":"Para 7(2)","rbi_char_offset":5070,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p7","layer":"bankpulse"},{"n":5,"claim":"md13006-ab36116d","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHO SHOULD ACT","heading":"Convicted persons cannot join","plain_english":"A person convicted of a crime involving moral turpitude cannot be a director.","rbi_paragraph":"Para 7(3)","rbi_char_offset":5242,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p8","layer":"bankpulse"},{"n":6,"claim":"md13006-d9e772c7","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"KEY DATES","heading":"Ten years on the board","plain_english":"A director may sit for ten years at a stretch.","rbi_paragraph":"Para 7A","rbi_char_offset":5350,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p9","layer":"bankpulse"},{"n":7,"claim":"md13006-e99175cc","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"KEY DATES","heading":"Then three years out","plain_english":"After that he must stay away for three years before coming back.","rbi_paragraph":"Para 7A","rbi_char_offset":5549,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p10","layer":"bankpulse"},{"n":8,"claim":"md13006-e13382c1","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHAT CHANGES","heading":"Nobody stays for ever","plain_english":"In the gap years he may stay only as a member or a customer.","rbi_paragraph":"Para 7A","rbi_char_offset":5616,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p11","layer":"bankpulse"},{"n":9,"claim":"md13006-2e4dc177","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"KEY DATES","heading":"How ten years count","plain_english":"A break of less than three years does not wipe the earlier time.","rbi_paragraph":"Para 7A","rbi_char_offset":5956,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A director joins in 2012 and serves eight years, to 2020. He is off the board for two years and returns in 2022. Two years is less than three, so the first eight still count. He may serve two more years and no longer. Had he stayed away four years, the clock would have started again at zero.","anchor":"https://bankpulse.ai/rule/md13006#p12","layer":"bankpulse"},{"n":10,"claim":"md13006-1df3047d","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHO IT APPLIES TO","heading":"Two directors who know banking","plain_english":"The bank must have at least two directors with banking experience.","rbi_paragraph":"Para 8","rbi_char_offset":6238,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p13","layer":"bankpulse"},{"n":11,"claim":"md13006-9d08a072","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHO IT APPLIES TO","heading":"Or the right qualification","plain_english":"Accounts, banking, agriculture and development, law or audit all count.","rbi_paragraph":"Para 8","rbi_char_offset":6401,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":["agriculture-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p14","layer":"bankpulse"},{"n":12,"claim":"md13006-f14a3387","page_group":"Chapter II. Constitution of Board and Appointment of Chief Executive Officer (CEO) / Managing Director (MD)","stored_section":"WHAT CHANGES","heading":"Another bank is allowed","plain_english":"The gap does not stop him joining the board of a different bank.","rbi_paragraph":"Para 7A","rbi_char_offset":5762,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p15","layer":"bankpulse"},{"n":1,"claim":"md13006-88db8de6","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"THE CORE IDEA","heading":"The board makes policy","plain_english":"The board is responsible for making the bank's policies.","rbi_paragraph":"Para 10","rbi_char_offset":7046,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p16","layer":"bankpulse"},{"n":2,"claim":"md13006-ce8abdcd","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"THE CORE IDEA","heading":"Board watches, boss runs","plain_english":"The board supervises. Day to day running is left to the chief executive.","rbi_paragraph":"Para 10(2)","rbi_char_offset":7150,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p17","layer":"bankpulse"},{"n":3,"claim":"md13006-115508e7","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"THE CORE IDEA","heading":"The bank holds public money","plain_english":"The bank is a trustee and keeper of the public's money.","rbi_paragraph":"Para 13","rbi_char_offset":7988,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p18","layer":"bankpulse"},{"n":4,"claim":"md13006-55df6561","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Keep up with technology","plain_english":"Directors should know the latest banking technology and push the bank to use it.","rbi_paragraph":"Para 15(1)","rbi_char_offset":9237,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p19","layer":"bankpulse"},{"n":5,"claim":"md13006-73230546","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Stay out of daily work","plain_english":"Directors must not step into management work or everyday business.","rbi_paragraph":"Para 15(4)","rbi_char_offset":12043,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p20","layer":"bankpulse"},{"n":6,"claim":"md13006-d01de714","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"No orders to staff","plain_english":"Directors must not send instructions to any officer or employee.","rbi_paragraph":"Para 15(4)","rbi_char_offset":12157,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p21","layer":"bankpulse"},{"n":7,"claim":"md13006-3c193870","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Do not push loans","plain_english":"Directors must not approach or influence anyone to sanction a facility.","rbi_paragraph":"Para 15(5)","rbi_char_offset":12464,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p22","layer":"bankpulse"},{"n":8,"claim":"md13006-ec736ed8","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"No pushing for a job","plain_english":"Directors must not sponsor anyone for a job, a promotion or a transfer.","rbi_paragraph":"Para 15(5)","rbi_char_offset":12738,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p23","layer":"bankpulse"},{"n":9,"claim":"md13006-6752ff22","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"No favour to that party","plain_english":"A related party must get no preferential treatment of any kind.","rbi_paragraph":"Para 15(5)","rbi_char_offset":13444,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p24","layer":"bankpulse"},{"n":10,"claim":"md13006-8e96652f","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Keep customer matters secret","plain_english":"A director is under oath of secrecy and must reveal nothing about a customer.","rbi_paragraph":"Para 15(6)","rbi_char_offset":13805,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p25","layer":"bankpulse"},{"n":11,"claim":"md13006-4d05013c","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Do not call for files","plain_english":"Directors must not call department papers, files or notes for their own scrutiny.","rbi_paragraph":"Para 15(6)","rbi_char_offset":14097,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p26","layer":"bankpulse"},{"n":12,"claim":"md13006-adb34105","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"No bank logo on cards","plain_english":"Directors must not print the bank's design on visiting cards or letterheads.","rbi_paragraph":"Para 15(6)","rbi_char_offset":14368,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p27","layer":"bankpulse"},{"n":13,"claim":"md13006-ebdae503","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Circulars reach every director","plain_english":"Every RBI and NABARD circular on policy must be seen by every director.","rbi_paragraph":"Para 11","rbi_char_offset":7292,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p28","layer":"bankpulse"},{"n":14,"claim":"md13006-de26d0c2","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"THE CORE IDEA","heading":"A written code of conduct","plain_english":"The bank must write a code of conduct for its directors and senior staff.","rbi_paragraph":"Para 12","rbi_char_offset":7509,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p29","layer":"bankpulse"},{"n":15,"claim":"md13006-ca15add4","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"Signed before two bodies","plain_english":"Directors sign the code in witness of the Registrar and NABARD.","rbi_paragraph":"Para 14","rbi_char_offset":8310,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p30","layer":"bankpulse"},{"n":16,"claim":"md13006-273d2f62","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Attend and take part","plain_english":"Directors should come to board meetings regularly and take part properly.","rbi_paragraph":"Para 15(1)","rbi_char_offset":8714,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p31","layer":"bankpulse"},{"n":17,"claim":"md13006-ccc705af","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Get the papers early","plain_english":"Directors should get agenda notes in advance and check their quality.","rbi_paragraph":"Para 15(1)","rbi_char_offset":8784,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p32","layer":"bankpulse"},{"n":18,"claim":"md13006-9c557ad3","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Strengthen audit and vigilance","plain_english":"Directors should build up internal audit and vigilance, and follow up on it.","rbi_paragraph":"Para 15(1)","rbi_char_offset":9678,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p33","layer":"bankpulse"},{"n":19,"claim":"md13006-b65daf29","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Read the inspection reports","plain_english":"Directors should read audit and NABARD inspection reports and act in time.","rbi_paragraph":"Para 15(1)","rbi_char_offset":9792,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p34","layer":"bankpulse"},{"n":20,"claim":"md13006-c45875f4","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Review the frauds","plain_english":"Directors should review frauds, their reporting and the action taken.","rbi_paragraph":"Para 15(1)","rbi_char_offset":9897,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p35","layer":"bankpulse"},{"n":21,"claim":"md13006-9fd96ed1","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Watch the weak branches","plain_english":"Directors should review how branches are doing, loss-making ones above all.","rbi_paragraph":"Para 15(2)","rbi_char_offset":10675,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p36","layer":"bankpulse"},{"n":22,"claim":"md13006-eb7895f0","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Big loans reach the board","plain_english":"Loans sanctioned by the chief executive or general manager must reach the board.","rbi_paragraph":"Para 15(2)","rbi_char_offset":10773,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p37","layer":"bankpulse"},{"n":23,"claim":"md13006-f96cd226","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Chase the recovery","plain_english":"Directors should build follow up so bad loans and overdues come down.","rbi_paragraph":"Para 15(2)","rbi_char_offset":10838,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p38","layer":"bankpulse"},{"n":24,"claim":"md13006-1ddc7357","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"A plan every year","plain_english":"Directors should see a development action plan made and checked each quarter.","rbi_paragraph":"Para 15(3)","rbi_char_offset":11268,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p39","layer":"bankpulse"},{"n":25,"claim":"md13006-b4bbbcb2","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Leave that discussion alone","plain_english":"A director must not join a board talk on a proposal he has interest in.","rbi_paragraph":"Para 15(5)","rbi_char_offset":12530,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p40","layer":"bankpulse"},{"n":26,"claim":"md13006-fbb484d1","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Speak about your interest","plain_english":"He must tell the chief executive and the board well in advance.","rbi_paragraph":"Para 15(5)","rbi_char_offset":12657,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p41","layer":"bankpulse"},{"n":27,"claim":"md13006-7b640715","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"If a relative deal happens","plain_english":"The director must disclose the whole nature of it to the proper authority.","rbi_paragraph":"Para 15(5)","rbi_char_offset":13292,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p42","layer":"bankpulse"},{"n":28,"claim":"md13006-504c800d","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"Board papers go back","plain_english":"Board papers should normally be returned to the bank after the meeting.","rbi_paragraph":"Para 15(6)","rbi_char_offset":14018,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p43","layer":"bankpulse"},{"n":29,"claim":"md13006-4aab8e2d","page_group":"Chapter III. Role of the Board and Individual Directors","stored_section":"THE CORE IDEA","heading":"Who counts as senior staff","plain_english":"General managers and heads of function count as senior management.","rbi_paragraph":"Para 12","rbi_char_offset":7616,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p44","layer":"bankpulse"},{"n":1,"claim":"md13006-24a5d823","page_group":"Chapter IV. Board Meeting Procedures","stored_section":"KEY DATES","heading":"A return each quarter","plain_english":"The bank sends a return to its NABARD regional office every quarter.","rbi_paragraph":"Para 18","rbi_char_offset":22876,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p45","layer":"bankpulse"},{"n":2,"claim":"md13006-4a0cb13e","page_group":"Chapter IV. Board Meeting Procedures","stored_section":"KEY DATES","heading":"Due by the tenth","plain_english":"It is due by the 10th of April, July, October and January.","rbi_paragraph":"Para 18","rbi_char_offset":22988,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p46","layer":"bankpulse"},{"n":1,"claim":"md13006-e1f0341c","page_group":"Chapter V. Committees of the Board","stored_section":"WHO IT APPLIES TO","heading":"Audit committee for all","plain_english":"Every one of these banks must set up an audit committee at board level.","rbi_paragraph":"Para 19","rbi_char_offset":23291,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p47","layer":"bankpulse"},{"n":2,"claim":"md13006-99395774","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"Three or four directors only","plain_english":"The audit committee is three or four directors, one of them its chairman.","rbi_paragraph":"Para 20(1)","rbi_char_offset":23995,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p48","layer":"bankpulse"},{"n":3,"claim":"md13006-c3d72e56","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"Chairman and boss stay out","plain_english":"The bank's chairman and its chief executive cannot sit on the audit committee.","rbi_paragraph":"Para 20(2)","rbi_char_offset":24109,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p49","layer":"bankpulse"},{"n":4,"claim":"md13006-d02ed10a","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"It can ask anyone anything","plain_english":"The audit committee gets direct and open access to management and both audits.","rbi_paragraph":"Para 21","rbi_char_offset":24566,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p50","layer":"bankpulse"},{"n":5,"claim":"md13006-3d5d322e","page_group":"Chapter V. Committees of the Board","stored_section":"WHO IT APPLIES TO","heading":"Risk committee for all","plain_english":"Every one of these banks must form a risk committee under its board.","rbi_paragraph":"Para 28","rbi_char_offset":32904,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p51","layer":"bankpulse"},{"n":6,"claim":"md13006-e8ffba50","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"Who sits on it","plain_english":"The chief executive and the heads of credit, investment and operational risk.","rbi_paragraph":"Para 29(1)","rbi_char_offset":33130,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p52","layer":"bankpulse"},{"n":7,"claim":"md13006-aa1d2ca9","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"The technology head is invited","plain_english":"The head of the IT department attends as a special invitee.","rbi_paragraph":"Para 29(2)","rbi_char_offset":33239,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p53","layer":"bankpulse"},{"n":8,"claim":"md13006-e4fce4e8","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"An accountant is brought in","plain_english":"One qualified chartered accountant from the area must be co-opted.","rbi_paragraph":"Para 20(3)","rbi_char_offset":24198,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p54","layer":"bankpulse"},{"n":9,"claim":"md13006-cb1c57c7","page_group":"Chapter V. Committees of the Board","stored_section":"KEY DATES","heading":"The audit committee meets quarterly","plain_english":"The audit committee must meet at least once in every quarter.","rbi_paragraph":"Para 25","rbi_char_offset":31462,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p55","layer":"bankpulse"},{"n":10,"claim":"md13006-c7dfb21d","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"It meets the auditors alone","plain_english":"Twice a year it meets management and the auditors in separate private sittings.","rbi_paragraph":"Para 25","rbi_char_offset":31530,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p56","layer":"bankpulse"},{"n":11,"claim":"md13006-11c42848","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"A loan review system","plain_english":"The risk committee must see a loan review system that keeps checking loan quality.","rbi_paragraph":"Para 30(1)","rbi_char_offset":33446,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p57","layer":"bankpulse"},{"n":12,"claim":"md13006-64867593","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"A cash policy that works","plain_english":"It must see a liquidity policy with funding plans, other scenarios and limits.","rbi_paragraph":"Para 30(3)","rbi_char_offset":33824,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p58","layer":"bankpulse"},{"n":13,"claim":"md13006-1ef141a6","page_group":"Chapter V. Committees of the Board","stored_section":"WHO SHOULD ACT","heading":"Split the duties","plain_english":"It must set up controls that split duties and fix clear reporting lines.","rbi_paragraph":"Para 30(4)","rbi_char_offset":34023,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p59","layer":"bankpulse"},{"n":14,"claim":"md13006-af560969","page_group":"Chapter V. Committees of the Board","stored_section":"THE CORE IDEA","heading":"The main risks are named","plain_english":"Credit, liquidity, interest rate, market, foreign exchange and solvency risk.","rbi_paragraph":"Para 27","rbi_char_offset":32559,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":["foreign-exchange"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p60","layer":"bankpulse"},{"n":1,"claim":"md13006-d79fc177","page_group":"Chapter VI. Repeal and other provisions","stored_section":"WHAT IT REPLACES","heading":"Old rules stand repealed","plain_english":"All earlier governance rules for these banks are repealed.","rbi_paragraph":"Para 32","rbi_char_offset":36466,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p61","layer":"bankpulse"},{"n":2,"claim":"md13006-1079c38d","page_group":"Chapter VI. Repeal and other provisions","stored_section":"WHAT IT REPLACES","heading":"Old actions still stand","plain_english":"Anything done under the old rules stays governed by those old rules.","rbi_paragraph":"Para 33","rbi_char_offset":36855,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p62","layer":"bankpulse"},{"n":3,"claim":"md13006-fe5cab93","page_group":"Chapter VI. Repeal and other provisions","stored_section":"WHAT IT REPLACES","heading":"Old approvals still count","plain_english":"Approvals given under the repealed rules now come under these rules.","rbi_paragraph":"Para 33","rbi_char_offset":37034,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p63","layer":"bankpulse"},{"n":4,"claim":"md13006-a1664389","page_group":"Chapter VI. Repeal and other provisions","stored_section":"IMPACT","heading":"Other laws still apply","plain_english":"These rules add to other laws. They do not cut them down.","rbi_paragraph":"Para 34","rbi_char_offset":37930,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p64","layer":"bankpulse"},{"n":5,"claim":"md13006-1f001e30","page_group":"Chapter VI. Repeal and other provisions","stored_section":"IMPACT","heading":"RBI's reading is final","plain_english":"If a rule is unclear, RBI's reading of it binds everyone.","rbi_paragraph":"Para 35","rbi_char_offset":38437,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13006#p65","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13462","title":"Reserve Bank of India (Rural Co-operative Banks - Governance) Amendment Directions, 2026","date":"May 25, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13462&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."}