{"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":"md13073","title":"Reserve Bank of India (Local Area Banks – Transfer and Distribution of Credit Risk) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13073","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":"md13073","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/md13073.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13073","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:17:36 UTC","text_sha256":"05641921b6aaa4a7bd5cedc18121d7f83eb8a6fbc5902ffbb3c01030c0a4f022","word_count":5300,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":31,"points_naming_an_rbi_paragraph":31,"points_stored":31,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13073-6d48ba8c","page_group":"Must know","stored_section":"THE CORE IDEA","heading":"Selling only, never buying","plain_english":"A local area bank may only sell stressed loans; it may never buy loans of any kind.","rbi_paragraph":"Para 8","rbi_char_offset":4520,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p1","layer":"bankpulse"},{"n":2,"claim":"md13073-128b293a","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"Terms stay unchanged","plain_english":"A transfer must not change the loan's terms; any change is tested against the restructuring rules.","rbi_paragraph":"Para 14","rbi_char_offset":11518,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p2","layer":"bankpulse"},{"n":3,"claim":"md13073-6416057d","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"No safety nets","plain_english":"Lenders may not offer credit enhancement or liquidity support in any form on loan transfers.","rbi_paragraph":"Para 15(4)","rbi_char_offset":11927,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p3","layer":"bankpulse"},{"n":4,"claim":"md13073-247b0db9","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"Borrowers' rights stand","plain_english":"The transfer must not override borrowers' rights, and needed consents must be in hand.","rbi_paragraph":"Para 20","rbi_char_offset":14115,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p4","layer":"bankpulse"},{"n":5,"claim":"md13073-f8c71ee8","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"RBI told of make-goods","plain_english":"Every replacement of a transferred loan, or damages paid, is reported to RBI's supervision department.","rbi_paragraph":"Para 21","rbi_char_offset":14342,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p5","layer":"bankpulse"},{"n":6,"claim":"md13073-14bc1af0","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"No mixing of money","plain_english":"A servicing bank holds the loan cash flows in trust and never mixes them with its own.","rbi_paragraph":"Para 26(8)","rbi_char_offset":16850,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p6","layer":"bankpulse"},{"n":7,"claim":"md13073-6217b998","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"Stressed sales, two ways only","plain_english":"Stressed loans move only by assignment or novation, never any other route.","rbi_paragraph":"Para 28","rbi_char_offset":17469,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p7","layer":"bankpulse"},{"n":8,"claim":"md13073-e3ff8ce3","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"Two valuers above 100 crore","plain_english":"A stressed exposure of ₹100 crore or more needs two external valuation reports, at the seller's cost.","rbi_paragraph":"Para 31","rbi_char_offset":19444,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A stressed exposure of ₹120 crore is being transferred. Two external valuation reports are needed, because the exposure is ₹100 crore or more. An exposure of ₹90 crore is below ₹100 crore, so this rule does not apply.","anchor":"https://bankpulse.ai/rule/md13073#p8","layer":"bankpulse"},{"n":9,"claim":"md13073-a9ed0ebc","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"Open challenge, big sales","plain_english":"A bilateral stressed sale of ₹100 crore or more must face a public counter bidding round.","rbi_paragraph":"Para 34","rbi_char_offset":20014,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p9","layer":"bankpulse"},{"n":10,"claim":"md13073-c8dfefe8","page_group":"Must know","stored_section":"WHAT CHANGES","heading":"Twelve months of distance","plain_english":"After selling a stressed loan the bank takes no fresh exposure to that borrower for at least 12 months.","rbi_paragraph":"Para 35","rbi_char_offset":21050,"weight":"MUST 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18","rbi_char_offset":13284,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p22","layer":"bankpulse"},{"n":7,"claim":"md13073-5435b277","page_group":"Background","stored_section":"WHAT CHANGES","heading":"Break the rules, hold capital","plain_english":"If a transfer fails these tests, the buyer holds full capital and the seller keeps the loan on its books.","rbi_paragraph":"Para 23","rbi_char_offset":14792,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p23","layer":"bankpulse"},{"n":8,"claim":"md13073-bf39954f","page_group":"Background","stored_section":"WHAT CHANGES","heading":"Servicing at arm's length","plain_english":"The seller may service the sold loans only under strict written, arm's length conditions with no hidden support.","rbi_paragraph":"Para 26","rbi_char_offset":15540,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p24","layer":"bankpulse"},{"n":9,"claim":"md13073-79df57ef","page_group":"Background","stored_section":"WHO SHOULD ACT","heading":"Top-down identification","plain_english":"The head office actively identifies stressed loans for transfer, and the board reviews those above a threshold.","rbi_paragraph":"Para 30(1)","rbi_char_offset":18278,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p25","layer":"bankpulse"},{"n":10,"claim":"md13073-5476bb95","page_group":"Background","stored_section":"WHAT CHANGES","heading":"A floor under the discount","plain_english":"The internal valuation's discount rate has a floor: the contracted interest rate charged on the loan.","rbi_paragraph":"Para 31","rbi_char_offset":19264,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p26","layer":"bankpulse"},{"n":11,"claim":"md13073-0d8000cb","page_group":"Background","stored_section":"WHAT CHANGES","heading":"Selling below value hurts now","plain_english":"A sale below net book value is debited to that year's profit and loss account.","rbi_paragraph":"Para 38","rbi_char_offset":21918,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p27","layer":"bankpulse"},{"n":12,"claim":"md13073-e218a5d5","page_group":"Background","stored_section":"WHAT CHANGES","heading":"Even fraud loans move","plain_english":"Even fraud classified loans may transfer to asset reconstruction companies.","rbi_paragraph":"Para 41","rbi_char_offset":22877,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p28","layer":"bankpulse"},{"n":13,"claim":"md13073-6a9e3ecc","page_group":"Background","stored_section":"WHAT CHANGES","heading":"Unredeemed receipts are losses","plain_english":"Security receipts still unredeemed at the end of the resolution period are treated as loss assets, fully provided.","rbi_paragraph":"Para 48","rbi_char_offset":28563,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p29","layer":"bankpulse"},{"n":14,"claim":"md13073-eda5f1f2","page_group":"Background","stored_section":"WHAT IT REPLACES","heading":"Old guidance repealed","plain_english":"All earlier rules on credit risk transfer for local area banks stand repealed from the day these directions arrived.","rbi_paragraph":"Para 56","rbi_char_offset":33084,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p30","layer":"bankpulse"},{"n":15,"claim":"md13073-1079c38d","page_group":"Background","stored_section":"WHAT IT REPLACES","heading":"Old actions stay governed","plain_english":"Action already taken under the old rules stays governed by them.","rbi_paragraph":"Para 57","rbi_char_offset":33388,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13073#p31","layer":"bankpulse"}],"actions":[],"amendments":[],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}