{"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":"md13063","title":"Reserve Bank of India (Local Area Banks – Responsible Business Conduct) Directions, 2025 (Updated as on July 1, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13063","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":"Local area banks","class_code":"LAB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13063","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/md13063.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13063","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:17:20 UTC","text_sha256":"66dcf018b8524ec06b43f6b6ee4b493a4de1adb753f3aab470024b4c65454755","word_count":21830,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":68,"points_naming_an_rbi_paragraph":68,"points_stored":68,"actions":0,"amendments":5},"points":[{"n":1,"claim":"md13063-a8dd92ee","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Fair conduct for LABs","plain_english":"This document sets how local area banks must treat their customers.","rbi_paragraph":"Para 1","rbi_char_offset":4049,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p1","layer":"bankpulse"},{"n":2,"claim":"md13063-660e3e67","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to every local area bank.","rbi_paragraph":"Para 3","rbi_char_offset":4289,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p2","layer":"bankpulse"},{"n":1,"claim":"md13063-d1f00a2d","page_group":"Chapter III. Customer Service in Branches","stored_section":"WHAT CHANGES","heading":"Four hours on weekdays","plain_english":"A branch must serve the public at least four hours on weekdays and two on Saturdays.","rbi_paragraph":"Para 7","rbi_char_offset":14828,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p3","layer":"bankpulse"},{"n":1,"claim":"md13063-bd444d17","page_group":"Chapter IV. Customer Guidance and Protection","stored_section":"WHO SHOULD ACT","heading":"Board approves service charges","plain_english":"Service charges must be worked out with prior approval of the Board.","rbi_paragraph":"Para 17","rbi_char_offset":19236,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p4","layer":"bankpulse"},{"n":2,"claim":"md13063-963ffcfb","page_group":"Chapter IV. Customer Guidance and Protection","stored_section":"WHAT CHANGES","heading":"Charges must be reasonable","plain_english":"Service charges must be reasonable and near the average cost of the service.","rbi_paragraph":"Para 17","rbi_char_offset":19404,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p5","layer":"bankpulse"},{"n":1,"claim":"md13063-fb804d1d","page_group":"Chapter V. Financial Inclusion and Accessibility","stored_section":"WHAT CHANGES","heading":"Court order to follow","plain_english":"The lender must take steps to comply with the Supreme Court order of 30 April 2025.","rbi_paragraph":"Para 25","rbi_char_offset":24435,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p6","layer":"bankpulse"},{"n":2,"claim":"md13063-1acfb9d0","page_group":"Chapter V. Financial Inclusion and Accessibility","stored_section":"WHAT CHANGES","heading":"Basic account is free","plain_english":"A basic savings account carries the listed facilities free, with no minimum balance.","rbi_paragraph":"Para 17","rbi_char_offset":20035,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p7","layer":"bankpulse"},{"n":3,"claim":"md13063-ccb39c18","page_group":"Chapter V. Financial Inclusion and Accessibility","stored_section":"WHAT CHANGES","heading":"Cheque book of 25 leaves","plain_english":"A basic savings account gets a cheque book of at least 25 leaves a year.","rbi_paragraph":"Para 17(5)","rbi_char_offset":20494,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p8","layer":"bankpulse"},{"n":4,"claim":"md13063-65de5a5a","page_group":"Chapter V. Financial Inclusion and Accessibility","stored_section":"WHAT CHANGES","heading":"No charge for new passbook","plain_english":"Issuing a continuation passbook when the old one is full carries no charge.","rbi_paragraph":"Para 17(7)","rbi_char_offset":20756,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p9","layer":"bankpulse"},{"n":5,"claim":"md13063-ec3a6a2f","page_group":"Chapter V. Financial Inclusion and Accessibility","stored_section":"WHAT CHANGES","heading":"Four free withdrawals","plain_english":"A basic savings account gets at least four free withdrawals in a month.","rbi_paragraph":"Para 17(8)","rbi_char_offset":20850,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p10","layer":"bankpulse"},{"n":1,"claim":"md13063-e1c37c55","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"WHAT CHANGES","heading":"Minor accounts stay in credit","plain_english":"An account of a minor must never be allowed to go into overdraft.","rbi_paragraph":"Para 34","rbi_char_offset":31885,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["working-capital"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p11","layer":"bankpulse"},{"n":2,"claim":"md13063-24b8b7a9","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"KEY DATES","heading":"Three days to reactivate","plain_english":"A request to reactivate a dormant account must be settled within three working days.","rbi_paragraph":"Para 51","rbi_char_offset":39661,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p12","layer":"bankpulse"},{"n":3,"claim":"md13063-0f1e342d","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"WHAT CHANGES","heading":"Warn minors before eighteen","plain_english":"A minor account holder must be told in advance what is needed on turning eighteen.","rbi_paragraph":"Para 32","rbi_char_offset":31266,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p13","layer":"bankpulse"},{"n":4,"claim":"md13063-1a69adba","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"WHO SHOULD ACT","heading":"Board approves locker policy","plain_english":"The Board must approve a policy for the safe deposit locker service.","rbi_paragraph":"Para 60","rbi_char_offset":42793,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p14","layer":"bankpulse"},{"n":5,"claim":"md13063-fcbe14e7","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"WHAT CHANGES","heading":"Nothing illegal in lockers","plain_english":"The locker agreement must bar keeping anything illegal or dangerous inside.","rbi_paragraph":"Para 63","rbi_char_offset":43881,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p15","layer":"bankpulse"},{"n":6,"claim":"md13063-e0440859","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"WHAT CHANGES","heading":"Waiting list for lockers","plain_english":"If no locker is free, the application must be acknowledged and given a waiting number.","rbi_paragraph":"Para 65","rbi_char_offset":44908,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p16","layer":"bankpulse"},{"n":7,"claim":"md13063-86731a88","page_group":"Chapter VII. Deposit and Other Liabilities","stored_section":"WHO SHOULD ACT","heading":"Board approves locker agreement","plain_english":"The locker agreement itself must be approved by the Board.","rbi_paragraph":"Para 66","rbi_char_offset":45033,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p17","layer":"bankpulse"},{"n":1,"claim":"md13063-570adcd4","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"No interest on penalties","plain_english":"Penal charges cannot be capitalised. No further interest may run on them.","rbi_paragraph":"Para 171(1)","rbi_char_offset":101564,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p18","layer":"bankpulse"},{"n":2,"claim":"md13063-d1c38eb8","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"No penalty on a penalty","plain_english":"A fresh penal charge cannot be added on top of penal charges already due.","rbi_paragraph":"Para 171(1)","rbi_char_offset":102768,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p19","layer":"bankpulse"},{"n":3,"claim":"md13063-27ecb40a","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Overdraft closure capped","plain_english":"On an overdraft, the closure charge cannot exceed the sanctioned limit.","rbi_paragraph":"Para 172(1)","rbi_char_offset":107210,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":["working-capital"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p20","layer":"bankpulse"},{"n":4,"claim":"md13063-a8a4053a","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Disclosed or not charged","plain_english":"A prepayment charge that was not disclosed as required cannot be charged at all.","rbi_paragraph":"Para 172(7)","rbi_char_offset":107945,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p21","layer":"bankpulse"},{"n":5,"claim":"md13063-3f18941c","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"No reviving waived fees","plain_english":"Fees waived earlier cannot be brought back when the loan is repaid early.","rbi_paragraph":"Para 172(8)","rbi_char_offset":108048,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p22","layer":"bankpulse"},{"n":6,"claim":"md13063-6bbf5f43","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"₹5,000 a day for delay","plain_english":"Where the delay is the lender's fault, the borrower gets ₹5,000 for each day of delay.","rbi_paragraph":"Para 177","rbi_char_offset":109738,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"Suppose the lender is 12 days late through its own fault. The borrower is owed ₹5,000 for each of those days. That comes to ₹60,000.","anchor":"https://bankpulse.ai/rule/md13063#p23","layer":"bankpulse"},{"n":7,"claim":"md13063-e05f5812","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Floor price after two failures","plain_english":"If an auction fails twice, the floor price must be at least 85 per cent of value.","rbi_paragraph":"Para 201","rbi_char_offset":119826,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p24","layer":"bankpulse"},{"n":8,"claim":"md13063-cb36f3d8","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Lender cannot bid","plain_english":"The lender and its related parties cannot bid in its own auction.","rbi_paragraph":"Para 203","rbi_char_offset":120240,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p25","layer":"bankpulse"},{"n":9,"claim":"md13063-475e5b43","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"KEY DATES","heading":"Two years makes it unclaimed","plain_english":"Pledged gold or silver left more than two years after repayment is treated as unclaimed.","rbi_paragraph":"Para 209","rbi_char_offset":122232,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p26","layer":"bankpulse"},{"n":10,"claim":"md13063-2b14295b","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"No tall gold loan claims","plain_english":"Misleading advertisements with unrealistic claims about gold loans are barred.","rbi_paragraph":"Para 211","rbi_char_offset":122813,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["gold-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p27","layer":"bankpulse"},{"n":11,"claim":"md13063-f78dea4c","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Key Facts in plain language","plain_english":"That statement must be written in a language the borrower understands.","rbi_paragraph":"Para 170(1)","rbi_char_offset":96390,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p28","layer":"bankpulse"},{"n":12,"claim":"md13063-1d631c12","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Explained and acknowledged","plain_english":"The statement must be explained to the borrower, who signs to say it was understood.","rbi_paragraph":"Para 170(1)","rbi_char_offset":96464,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p29","layer":"bankpulse"},{"n":13,"claim":"md13063-47c1c23c","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Full cost and schedule","plain_english":"The statement must carry the annual percentage rate and the repayment schedule.","rbi_paragraph":"Para 170(3)","rbi_char_offset":97131,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p30","layer":"bankpulse"},{"n":14,"claim":"md13063-59839f7c","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Receipts for charges","plain_english":"Where the lender collects such charges, a receipt must reach the borrower in good time.","rbi_paragraph":"Para 170(4)","rbi_char_offset":100701,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p31","layer":"bankpulse"},{"n":15,"claim":"md13063-4d0d59bd","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Summary box in the agreement","plain_english":"The statement must also appear as a summary box inside the loan agreement.","rbi_paragraph":"Para 170(6)","rbi_char_offset":101017,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p32","layer":"bankpulse"},{"n":16,"claim":"md13063-66864764","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Penalty only on the default","plain_english":"Penal charges must be reasonable and charged only on the amount in default.","rbi_paragraph":"Para 171(1)","rbi_char_offset":102461,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p33","layer":"bankpulse"},{"n":17,"claim":"md13063-a64b0fea","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHO SHOULD ACT","heading":"Board policy on penal charges","plain_english":"The Board must approve a policy on penal charges by whatever name they are called.","rbi_paragraph":"Para 171(3)","rbi_char_offset":104100,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p34","layer":"bankpulse"},{"n":18,"claim":"md13063-f2f4912c","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Same penalty for all","plain_english":"Within a loan product, penal charges must be the same whoever the borrower is.","rbi_paragraph":"Para 171(4)","rbi_char_offset":104648,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p35","layer":"bankpulse"},{"n":19,"claim":"md13063-10d72b6a","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Reminders state the penalty","plain_english":"A reminder about a breach must state the penal charge that applies.","rbi_paragraph":"Para 171(7)","rbi_char_offset":105889,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p36","layer":"bankpulse"},{"n":20,"claim":"md13063-9248760d","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Papers back on time","plain_english":"The sanction letter must state when and where the property papers will be returned.","rbi_paragraph":"Para 175","rbi_char_offset":108822,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p37","layer":"bankpulse"},{"n":21,"claim":"md13063-2836fbed","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Borrower watches the testing","plain_english":"The borrower must be present when the gold or silver is tested at sanction.","rbi_paragraph":"Para 185","rbi_char_offset":113247,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p38","layer":"bankpulse"},{"n":22,"claim":"md13063-6a0a9188","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Surprise checks required","plain_english":"Internal audit must make surprise checks of the pledged metal and keep a record.","rbi_paragraph":"Para 195","rbi_char_offset":117386,"weight":"DO IT","role":"Audit","team":null,"products_covered":["gold-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p39","layer":"bankpulse"},{"n":23,"claim":"md13063-a303c05e","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Auction in the same district","plain_english":"The first auction must be held in the district of the lending branch.","rbi_paragraph":"Para 202","rbi_char_offset":119943,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p40","layer":"bankpulse"},{"n":24,"claim":"md13063-99829013","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Full auction account","plain_english":"After the auction the borrower must be told the price fetched and the dues settled.","rbi_paragraph":"Para 204","rbi_char_offset":120374,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p41","layer":"bankpulse"},{"n":25,"claim":"md13063-76abf7c9","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"One standard agreement","plain_english":"Microfinance loans must use a standard agreement in the borrower's language.","rbi_paragraph":"Para 215","rbi_char_offset":123706,"weight":"DO IT","role":"Branch","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p42","layer":"bankpulse"},{"n":26,"claim":"md13063-53373da7","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Loan card in plain words","plain_english":"Every entry in the loan card must be in a language the borrower understands.","rbi_paragraph":"Para 217","rbi_char_offset":124300,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p43","layer":"bankpulse"},{"n":27,"claim":"md13063-a0b6734d","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHO SHOULD ACT","heading":"Board policy on staff conduct","plain_english":"The Board must approve a policy on staff conduct, hiring, training and monitoring.","rbi_paragraph":"Para 224","rbi_char_offset":125757,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p44","layer":"bankpulse"},{"n":28,"claim":"md13063-ee59db92","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Training covers behaviour","plain_english":"Staff training must include how to behave properly with customers.","rbi_paragraph":"Para 224","rbi_char_offset":126043,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p45","layer":"bankpulse"},{"n":29,"claim":"md13063-87982ed0","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Conduct affects pay","plain_english":"How staff treat customers must count in how they are paid.","rbi_paragraph":"Para 224","rbi_char_offset":126143,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p46","layer":"bankpulse"},{"n":30,"claim":"md13063-745e988b","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Free training for borrowers","plain_english":"Any training offered to borrowers must be free of cost.","rbi_paragraph":"Para 226","rbi_char_offset":126374,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p47","layer":"bankpulse"},{"n":31,"claim":"md13063-bc85eae7","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Separate recovery complaints","plain_english":"There must be a separate route for complaints about recovery.","rbi_paragraph":"Para 230","rbi_char_offset":127691,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p48","layer":"bankpulse"},{"n":32,"claim":"md13063-c63e9178","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Told at disbursal","plain_english":"The borrower must be told about that route when the loan money is paid out.","rbi_paragraph":"Para 230","rbi_char_offset":127767,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p49","layer":"bankpulse"},{"n":33,"claim":"md13063-d2e449a0","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Police check on agents","plain_english":"Agent staff must be checked, and that check includes police verification.","rbi_paragraph":"Para 232","rbi_char_offset":128301,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p50","layer":"bankpulse"},{"n":34,"claim":"md13063-893951a2","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Borrower told who calls","plain_english":"The borrower must be given the recovery agent's details before recovery starts.","rbi_paragraph":"Para 233","rbi_char_offset":128570,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p51","layer":"bankpulse"},{"n":35,"claim":"md13063-6b15181d","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Key Facts for term loans","plain_english":"A Key Facts Statement is required for every retail and small business term loan.","rbi_paragraph":"Para 170","rbi_char_offset":96049,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["msme-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p52","layer":"bankpulse"},{"n":36,"claim":"md13063-4e53e1db","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Bound by the stated terms","plain_english":"The lender is bound by the terms in that statement if the borrower agrees in time.","rbi_paragraph":"Para 170(2)","rbi_char_offset":97008,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p53","layer":"bankpulse"},{"n":37,"claim":"md13063-8afd1cd0","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Unpaid interest at normal rate","plain_english":"Interest on unpaid interest runs at the contracted rate, not the penal rate.","rbi_paragraph":"Para 171(1)","rbi_char_offset":101786,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p54","layer":"bankpulse"},{"n":38,"claim":"md13063-0ee1fceb","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"No extra interest component","plain_english":"No new component may be added to the rate of interest to work around these rules.","rbi_paragraph":"Para 171(2)","rbi_char_offset":103943,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p55","layer":"bankpulse"},{"n":39,"claim":"md13063-082d046d","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Website link is not enough","plain_english":"Pointing to a schedule on the website does not meet the disclosure duty.","rbi_paragraph":"Para 171(6)","rbi_char_offset":105628,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p56","layer":"bankpulse"},{"n":40,"claim":"md13063-f68fd4c5","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Lender's own call is free","plain_english":"No charge applies where the lender itself asks for the loan to be repaid early.","rbi_paragraph":"Para 172(6)","rbi_char_offset":107579,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p57","layer":"bankpulse"},{"n":41,"claim":"md13063-f3b374c0","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Other rights stay","plain_english":"That payment does not take away any other compensation the law allows.","rbi_paragraph":"Para 179","rbi_char_offset":110380,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p58","layer":"bankpulse"},{"n":42,"claim":"md13063-ce9f920f","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Gold stays in the branch","plain_english":"Gold and silver may be handled only in branches and only by the lender's own staff.","rbi_paragraph":"Para 191","rbi_char_offset":116467,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p59","layer":"bankpulse"},{"n":43,"claim":"md13063-c309c011","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Vaults, not cupboards","plain_english":"The metal may be stored only in branches with a vault fit for the purpose.","rbi_paragraph":"Para 192","rbi_char_offset":116549,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p60","layer":"bankpulse"},{"n":44,"claim":"md13063-bcc17891","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Other products need consent","plain_english":"Any non-credit product needs full consent, with its fees written in the loan card.","rbi_paragraph":"Para 218","rbi_char_offset":124398,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p61","layer":"bankpulse"},{"n":45,"claim":"md13063-9800c823","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Late charge on overdue only","plain_english":"A delayed payment charge applies to the overdue amount, not the whole loan.","rbi_paragraph":"Para 219","rbi_char_offset":124735,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p62","layer":"bankpulse"},{"n":46,"claim":"md13063-17e1093b","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"No harsh recovery","plain_english":"Neither the lender nor its agent may use harsh methods to recover dues.","rbi_paragraph":"Para 229","rbi_char_offset":127047,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p63","layer":"bankpulse"},{"n":47,"claim":"md13063-82ce9d72","page_group":"Chapter VIII. Responsible Lending Conduct","stored_section":"WHAT CHANGES","heading":"Checks before hiring agents","plain_english":"A due diligence process is required before engaging any recovery agent.","rbi_paragraph":"Para 232","rbi_char_offset":128076,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p64","layer":"bankpulse"},{"n":1,"claim":"md13063-cea16ac6","page_group":"Chapter X. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Older rules cancelled","plain_english":"This document cancels the earlier conduct rules for these institutions.","rbi_paragraph":"Para 239","rbi_char_offset":130755,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p65","layer":"bankpulse"},{"n":2,"claim":"md13063-98cf8370","page_group":"Chapter X. 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 240","rbi_char_offset":131013,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p66","layer":"bankpulse"},{"n":3,"claim":"md13063-c39bbd9f","page_group":"Chapter X. 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 240","rbi_char_offset":131205,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p67","layer":"bankpulse"},{"n":4,"claim":"md13063-c8c5d065","page_group":"Chapter X. 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 241","rbi_char_offset":132090,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13063#p68","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13176","title":"Reserve Bank of India (Local Area Banks - Responsible Business Conduct) Amendment Directions, 2025","date":"Dec 04, 2025","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13176&Mode=0","order":1,"layer":"rbi_source"},{"id":"nt13420","title":"Reserve Bank of India (Local Area Banks – Responsible Business Conduct) Amendment Directions, 2026","date":"Apr 29, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13420&Mode=0","order":2,"layer":"rbi_source"},{"id":"nt13488","title":"Reserve Bank of India (Local Area Banks - Responsible Business Conduct) Second Amendment Directions, 2026","date":"Jun 15, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13488&Mode=0","order":3,"layer":"rbi_source"},{"id":"nt13546","title":"Reserve Bank of India (Local Area Banks - Responsible Business Conduct) Third Amendment Directions, 2026","date":"Jun 24, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13546&Mode=0","order":4,"layer":"rbi_source"},{"id":"nt13667","title":"Reserve Bank of India (Local Area Banks - Responsible Business Conduct) Fourth Amendment Directions, 2026","date":"Aug 06, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13667&Mode=0","order":5,"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."}