{"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":"md13007","title":"Reserve Bank of India (Rural Co-operative Banks – Undertaking of Financial Services) Directions, 2025 (Updated as on April 27, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13007","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":"md13007","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":"January 01, 2026","stated":true,"why":"The day this rule starts to apply, as RBI's own text states it."},"transition":{"label":"Time to get ready","value":"34 days","stated":true,"why":"The room between the day it was published and the day it starts to apply."},"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/md13007.json","effective":"data/date_kinds.json kind=effective_date","transition":"worked out from published and starts-to-apply","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13007","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:20:03 UTC","text_sha256":"6bfb54fea3a2785d6a97c6ec60521d2ff229620b32d730efcec3374f9c3ec3ff","word_count":3160,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":37,"points_naming_an_rbi_paragraph":37,"points_stored":37,"actions":0,"amendments":2},"points":[{"n":1,"claim":"md13007-fc5b3061","page_group":"Chapter I. 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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":3348,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p3","layer":"bankpulse"},{"n":4,"claim":"md13007-d0529741","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"What an RCB means here","plain_english":"A rural co-operative bank means a state or central co-operative bank.","rbi_paragraph":"Para 3","rbi_char_offset":3509,"weight":"DO IT","role":"All staff","team":null,"products_covered":["agriculture-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p4","layer":"bankpulse"},{"n":1,"claim":"md13007-057852ed","page_group":"Chapter II. General Guidelines","stored_section":"WHO SHOULD ACT","heading":"Complaints policy in place","plain_english":"A Board approved complaints policy with an escalation ladder must already work.","rbi_paragraph":"Para 6","rbi_char_offset":7377,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p5","layer":"bankpulse"},{"n":2,"claim":"md13007-610fda5a","page_group":"Chapter II. General Guidelines","stored_section":"WHO SHOULD ACT","heading":"Policy must cover funds","plain_english":"The investment policy must carry provisions on investing in such funds.","rbi_paragraph":"Para 7","rbi_char_offset":7658,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A lender that has never invested in such a fund still needs the words in its investment policy. 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General Guidelines","stored_section":"WHAT CHANGES","heading":"Twenty per cent from all","plain_english":"All regulated lenders together cannot hold more than twenty per cent of a fund.","rbi_paragraph":"Para 9","rbi_char_offset":7941,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p8","layer":"bankpulse"},{"n":5,"claim":"md13007-00a8bdf0","page_group":"Chapter II. General Guidelines","stored_section":"WHAT CHANGES","heading":"Subordinated units deducted","plain_english":"A holding in subordinated units of such a fund is deducted from capital in full.","rbi_paragraph":"Para 11","rbi_char_offset":8886,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A lender puts ₹10 crore into such a fund, as subordinated units. The whole ₹10 crore comes off capital funds. It is taken proportionately from Tier-1 and Tier-2 capital.","anchor":"https://bankpulse.ai/rule/md13007#p9","layer":"bankpulse"},{"n":6,"claim":"md13007-bb9e7587","page_group":"Chapter II. General Guidelines","stored_section":"WHAT CHANGES","heading":"Some funds are exempt","plain_english":"The Reserve Bank may exempt named funds from these rules by notification.","rbi_paragraph":"Para 11","rbi_char_offset":9181,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p10","layer":"bankpulse"},{"n":1,"claim":"md13007-d875fc99","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"No forcing an insurer","plain_english":"The lender cannot compel a customer towards one insurance company.","rbi_paragraph":"Para 15","rbi_char_offset":10758,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p11","layer":"bankpulse"},{"n":2,"claim":"md13007-1cb693af","page_group":"Chapter III. Financial Services","stored_section":"THE CORE IDEA","heading":"Customer picks the insurer","plain_english":"The customer is free to choose his own insurer.","rbi_paragraph":"Para 15","rbi_char_offset":10919,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p12","layer":"bankpulse"},{"n":3,"claim":"md13007-ecbcc203","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Apply for insurance work","plain_english":"Insurance agency work without risk is applied for through the Pravaah portal.","rbi_paragraph":"Para 16","rbi_char_offset":11061,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p13","layer":"bankpulse"},{"n":4,"claim":"md13007-7a570acb","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Board resolution with it","plain_english":"The application must carry a certified copy of the Board resolution.","rbi_paragraph":"Para 17","rbi_char_offset":11300,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p14","layer":"bankpulse"},{"n":5,"claim":"md13007-cccd7711","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"No insurance without permission","plain_english":"Insurance business cannot be started without the Reserve Bank's prior permission.","rbi_paragraph":"Para 18","rbi_char_offset":11490,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p15","layer":"bankpulse"},{"n":6,"claim":"md13007-3d193da3","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Insurance regulator too","plain_english":"The permission also requires a licence from the insurance regulator.","rbi_paragraph":"Para 19","rbi_char_offset":11605,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p16","layer":"bankpulse"},{"n":7,"claim":"md13007-80eaa130","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Cannot take claim money","plain_english":"The permission does not allow the bank to set dues against insurance claim money.","rbi_paragraph":"Para 20","rbi_char_offset":11789,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p17","layer":"bankpulse"},{"n":8,"claim":"md13007-039a3bdd","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Three party agreement needed","plain_english":"Any set off against a claim needs an agreement among insured, insurer and agent.","rbi_paragraph":"Para 21","rbi_char_offset":11927,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p18","layer":"bankpulse"},{"n":9,"claim":"md13007-cc92870e","page_group":"Chapter III. Financial Services","stored_section":"KEY DATES","heading":"Permission lasts two years","plain_english":"Permission for insurance agency work is valid for two years and is then reviewed.","rbi_paragraph":"Para 22","rbi_char_offset":12127,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p19","layer":"bankpulse"},{"n":10,"claim":"md13007-bae47529","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Renew through Pravaah","plain_english":"Renewal of the permission is applied for through the Pravaah portal.","rbi_paragraph":"Para 23","rbi_char_offset":12290,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p20","layer":"bankpulse"},{"n":11,"claim":"md13007-260d3a41","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Permission can be withdrawn","plain_english":"Breaking any condition at any time can cost the bank its permission.","rbi_paragraph":"Para 24","rbi_char_offset":12519,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p21","layer":"bankpulse"},{"n":12,"claim":"md13007-b624bc6b","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Written agreement needed","plain_english":"A formal agreement with the insurance company is needed for a referral.","rbi_paragraph":"Para 26","rbi_char_offset":13750,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p22","layer":"bankpulse"},{"n":13,"claim":"md13007-f4f52131","page_group":"Chapter III. Financial Services","stored_section":"KEY DATES","heading":"Three year first agreement","plain_english":"The first referral agreement cannot run beyond three years.","rbi_paragraph":"Para 26","rbi_char_offset":13906,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p23","layer":"bankpulse"},{"n":14,"claim":"md13007-3185bae0","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Longer contract after first","plain_english":"A longer contract may follow the first period, if the Board approves it.","rbi_paragraph":"Para 26(3)","rbi_char_offset":14168,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p24","layer":"bankpulse"},{"n":15,"claim":"md13007-12a54f84","page_group":"Chapter III. Financial Services","stored_section":"THE CORE IDEA","heading":"Customer joins by choice","plain_english":"A customer takes an insurance product only by choice, never by requirement.","rbi_paragraph":"Para 26(3)","rbi_char_offset":14233,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p25","layer":"bankpulse"},{"n":16,"claim":"md13007-37859277","page_group":"Chapter III. Financial Services","stored_section":"THE CORE IDEA","heading":"No link to banking","plain_english":"There must be no link, direct or indirect, between banking service and insurance.","rbi_paragraph":"Para 26(3)","rbi_char_offset":14407,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p26","layer":"bankpulse"},{"n":17,"claim":"md13007-a6becead","page_group":"Chapter III. Financial Services","stored_section":"THE CORE IDEA","heading":"Risk stays outside","plain_english":"No risk from a referral arrangement may pass to the bank's own business.","rbi_paragraph":"Para 26(3)","rbi_char_offset":14523,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p27","layer":"bankpulse"},{"n":18,"claim":"md13007-cb8a804f","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"No approval for referral","plain_english":"Prior approval is not needed to take up referral business.","rbi_paragraph":"Para 27","rbi_char_offset":14633,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p28","layer":"bankpulse"},{"n":19,"claim":"md13007-6faab3a5","page_group":"Chapter III. 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Financial Services","stored_section":"WHO SHOULD ACT","heading":"Own terminals need approval","plain_english":"Putting out its own card terminals needs an application through Pravaah.","rbi_paragraph":"Para 31","rbi_char_offset":17134,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p31","layer":"bankpulse"},{"n":22,"claim":"md13007-93709bfb","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Prepaid needs own ATMs","plain_english":"A bank issuing prepaid instruments must have its own ATM network.","rbi_paragraph":"Para 32","rbi_char_offset":17439,"weight":"DO IT","role":"All staff","team":null,"products_covered":["digital-payment"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p32","layer":"bankpulse"},{"n":23,"claim":"md13007-12682b60","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Prepaid follows payment rules","plain_english":"Prepaid instruments must meet the payments department's eligibility rules.","rbi_paragraph":"Para 32","rbi_char_offset":17610,"weight":"DO IT","role":"All staff","team":null,"products_covered":["digital-payment"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p33","layer":"bankpulse"},{"n":1,"claim":"md13007-8ddcca61","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old rules stay repealed","plain_english":"Rules repealed before this document was issued remain repealed.","rbi_paragraph":"Para 35","rbi_char_offset":20136,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p34","layer":"bankpulse"},{"n":2,"claim":"md13007-1079c38d","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Past acts still stand","plain_english":"Anything done under the old rules is still judged by the old rules.","rbi_paragraph":"Para 36","rbi_char_offset":20255,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p35","layer":"bankpulse"},{"n":3,"claim":"md13007-562eb172","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old approvals carry over","plain_english":"Approvals given under the repealed rules are now read under these rules.","rbi_paragraph":"Para 36","rbi_char_offset":20438,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p36","layer":"bankpulse"},{"n":4,"claim":"md13007-ed77acc3","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"THE CORE IDEA","heading":"Added to other law","plain_english":"These rules sit on top of every other law and rule already in force.","rbi_paragraph":"Para 37","rbi_char_offset":21318,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13007#p37","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13381","title":"Reserve Bank of India (Rural Co-operative Banks– Undertaking of Financial Services) – Amendment Directions, 2026","date":"Apr 27, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13381&Mode=0","order":1,"layer":"rbi_source"},{"id":"nt13500","title":"Reserve Bank of India (Rural Co-operative Banks – Undertaking of Financial Services) Second Amendment Directions, 2026","date":"Jun 15, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13500&Mode=0","order":2,"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."}