{"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":"md13033","title":"Reserve Bank of India (Urban Co-operative Banks – Undertaking of Financial Services) Directions, 2025 (Updated as on April 27, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13033","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":"Urban co-operative banks","class_code":"UCB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13033","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/md13033.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=13033","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:19:22 UTC","text_sha256":"568517fdde536d28efbbffa69881af09ffdcff00dfe5a139d9f9549782c3f59b","word_count":4299,"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":2},"points":[{"n":1,"claim":"md13033-daa7cd24","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Other business for UCBs","plain_english":"This document sets what other business the lender may take on.","rbi_paragraph":"Para 1","rbi_char_offset":3392,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p1","layer":"bankpulse"},{"n":2,"claim":"md13033-27e662d9","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"In force at once","plain_english":"The rules took effect the day they were issued. There was no grace period.","rbi_paragraph":"Para 1","rbi_char_offset":3537,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p2","layer":"bankpulse"},{"n":3,"claim":"md13033-874a12c9","page_group":"Chapter I. 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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 11","rbi_char_offset":9343,"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. The policy must carry provisions governing its investments in a scheme of that kind. Writing them only when the first investment is proposed is too late.","anchor":"https://bankpulse.ai/rule/md13033#p11","layer":"bankpulse"},{"n":8,"claim":"md13033-2768ef2b","page_group":"Chapter II. 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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 15","rbi_char_offset":10570,"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/md13033#p14","layer":"bankpulse"},{"n":11,"claim":"md13033-32b7ad54","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 15","rbi_char_offset":10865,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p15","layer":"bankpulse"},{"n":1,"claim":"md13033-02ff44a3","page_group":"Chapter III. Financial Services","stored_section":"THE CORE IDEA","heading":"No promised return","plain_english":"Mutual fund units are bought at the customer's risk with no assured return.","rbi_paragraph":"Para 19","rbi_char_offset":11529,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p16","layer":"bankpulse"},{"n":2,"claim":"md13033-c375e7eb","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Not from the market","plain_english":"The lender cannot buy such units on the secondary market or buy them back.","rbi_paragraph":"Para 19","rbi_char_offset":11601,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p17","layer":"bankpulse"},{"n":3,"claim":"md13033-15655a69","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Selling only at branches","plain_english":"Mutual fund units may be distributed only at the bank's branches.","rbi_paragraph":"Para 19","rbi_char_offset":11922,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p18","layer":"bankpulse"},{"n":4,"claim":"md13033-c8a3c36c","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"KYC rules still apply","plain_english":"The know your customer and money laundering rules apply to these applicants too.","rbi_paragraph":"Para 19","rbi_char_offset":12006,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p19","layer":"bankpulse"},{"n":5,"claim":"md13033-a7348a8f","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"Tell the customer the fee","plain_english":"Every commission or fee received from the product company must be disclosed.","rbi_paragraph":"Para 21","rbi_char_offset":12352,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p20","layer":"bankpulse"},{"n":6,"claim":"md13033-677e1f79","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 26","rbi_char_offset":15539,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p21","layer":"bankpulse"},{"n":7,"claim":"md13033-3e8c4ac2","page_group":"Chapter III. Financial Services","stored_section":"WHAT CHANGES","heading":"No new money changers","plain_english":"No fresh authorisation will be given to an urban co-operative bank as a money changer.","rbi_paragraph":"Para 30","rbi_char_offset":18018,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p22","layer":"bankpulse"},{"n":8,"claim":"md13033-3e6cc2d3","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Pension work through Pravaah","plain_english":"An application to act as a pension point of presence goes through Pravaah.","rbi_paragraph":"Para 34","rbi_char_offset":20571,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p23","layer":"bankpulse"},{"n":9,"claim":"md13033-c55572b2","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Follow the pension regulator","plain_english":"A bank acting as a point of presence must follow the pension regulator's instructions.","rbi_paragraph":"Para 35","rbi_char_offset":21168,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p24","layer":"bankpulse"},{"n":10,"claim":"md13033-c06c00ff","page_group":"Chapter III. Financial Services","stored_section":"WHO SHOULD ACT","heading":"Card rules still apply","plain_english":"The payments department's rules on card acquiring and terminals apply as well.","rbi_paragraph":"Para 38","rbi_char_offset":23473,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p25","layer":"bankpulse"},{"n":11,"claim":"md13033-eb908100","page_group":"Chapter III. 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 39","rbi_char_offset":23662,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p26","layer":"bankpulse"},{"n":12,"claim":"md13033-93709bfb","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 41","rbi_char_offset":24178,"weight":"DO IT","role":"All staff","team":null,"products_covered":["digital-payment"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p27","layer":"bankpulse"},{"n":13,"claim":"md13033-12682b60","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 41","rbi_char_offset":24349,"weight":"DO IT","role":"All staff","team":null,"products_covered":["digital-payment"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p28","layer":"bankpulse"},{"n":1,"claim":"md13033-8ddcca61","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 44","rbi_char_offset":26848,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p29","layer":"bankpulse"},{"n":2,"claim":"md13033-1079c38d","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 45","rbi_char_offset":26967,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p30","layer":"bankpulse"},{"n":3,"claim":"md13033-562eb172","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 45","rbi_char_offset":27150,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p31","layer":"bankpulse"},{"n":4,"claim":"md13033-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 46","rbi_char_offset":28030,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13033#p32","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13394","title":"Reserve Bank of India (Urban Co-operative Banks – Undertaking of Financial Services) – Amendment Directions, 2026","date":"Apr 27, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13394&Mode=0","order":1,"layer":"rbi_source"},{"id":"nt13499","title":"Reserve Bank of India (Urban 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=13499&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."}