{"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":"md13082","title":"Reserve Bank of India (Local Area Banks – Governance) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13082","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":"md13082","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/md13082.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13082","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:17:51 UTC","text_sha256":"ac5421fb0d30a9633454466249811ab83feb75d18f54ff8c2723441c4c30aa41","word_count":7460,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":45,"points_naming_an_rbi_paragraph":45,"points_stored":45,"actions":0,"amendments":1},"points":[{"n":1,"claim":"md13082-1840df20","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"In force at once","plain_english":"These Directions came into force with immediate effect.","rbi_paragraph":"Para 2","rbi_char_offset":3176,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p1","layer":"bankpulse"},{"n":2,"claim":"md13082-1c401897","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to local area banks.","rbi_paragraph":"Para 3","rbi_char_offset":3258,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p2","layer":"bankpulse"},{"n":1,"claim":"md13082-0cb2b4b0","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Seventy is the ceiling","plain_english":"A non executive director, the chair included, cannot continue past the age of 70.","rbi_paragraph":"Para 8","rbi_char_offset":7215,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p3","layer":"bankpulse"},{"n":2,"claim":"md13082-6cb27cc0","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Most seats need experts","plain_english":"At least 51 per cent of the board must have special knowledge in fields like banking, law or agriculture.","rbi_paragraph":"Para 8(2)","rbi_char_offset":7485,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":["agriculture-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p4","layer":"bankpulse"},{"n":3,"claim":"md13082-97da8aa6","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Eight years, then a break","plain_english":"A non executive director serves at most eight years in total on the board.","rbi_paragraph":"Para 8(2)","rbi_char_offset":9321,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p5","layer":"bankpulse"},{"n":4,"claim":"md13082-42576fe7","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Two years before returning","plain_english":"After eight years the person may return only after a gap of two years.","rbi_paragraph":"Para 8(2)","rbi_char_offset":9420,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p6","layer":"bankpulse"},{"n":5,"claim":"md13082-c0a8203e","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"A shorter gap for promoters","plain_english":"For certain promoter linked directors, the gap falls to 6 months.","rbi_paragraph":"Para 8(2)","rbi_char_offset":9694,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p7","layer":"bankpulse"},{"n":6,"claim":"md13082-0b72db33","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"THE CORE IDEA","heading":"Fit and proper first","plain_english":"Before a director is appointed, the bank must check their skills, record and integrity.","rbi_paragraph":"Para 6","rbi_char_offset":5213,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p8","layer":"bankpulse"},{"n":7,"claim":"md13082-3f44b357","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Two rural voices","plain_english":"At least two directors must know agriculture and rural economy, co-operation or small scale industry.","rbi_paragraph":"Para 8(2)","rbi_char_offset":8198,"weight":"DO IT","role":"Board","team":null,"products_covered":["agriculture-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p9","layer":"bankpulse"},{"n":8,"claim":"md13082-552f4b0d","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"THE CORE IDEA","heading":"Chair and chief separated","plain_english":"The bank must have a part time chairman and a separate chief executive who runs day to day management.","rbi_paragraph":"Para 10","rbi_char_offset":10994,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p10","layer":"bankpulse"},{"n":9,"claim":"md13082-5212bc60","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHO SHOULD ACT","heading":"The committee screens them","plain_english":"The pay and nominations committee reads each director's declaration closely before it is accepted.","rbi_paragraph":"Para 7","rbi_char_offset":5691,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p11","layer":"bankpulse"},{"n":10,"claim":"md13082-eb205233","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Nobody vets themselves","plain_english":"Due diligence on committee members is done by the board itself; interested members stay out.","rbi_paragraph":"Para 7","rbi_char_offset":6205,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p12","layer":"bankpulse"},{"n":11,"claim":"md13082-2b051e03","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"One family seat only","plain_english":"As a desirable practice, not more than one member of a family or close associate sits on the board.","rbi_paragraph":"Para 8(2)","rbi_char_offset":9158,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p13","layer":"bankpulse"},{"n":12,"claim":"md13082-f2cd0b33","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHO SHOULD ACT","heading":"A yearly covenant","plain_english":"Every director signs a deed of covenant and refreshes their declaration each year as on March 31.","rbi_paragraph":"Para 9","rbi_char_offset":10412,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p14","layer":"bankpulse"},{"n":13,"claim":"md13082-708f167f","page_group":"Chapter II. Constitution of Board and Appointment of Directors","stored_section":"WHAT CHANGES","heading":"Age seventy for executives","plain_english":"No one continues as chief executive or whole time director past the age of 70.","rbi_paragraph":"Para 11","rbi_char_offset":11195,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p15","layer":"bankpulse"},{"n":1,"claim":"md13082-17a154bb","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"Directors cannot command staff","plain_english":"A non executive director gives no orders to employees; everything routes through the chief executive.","rbi_paragraph":"Para 17","rbi_char_offset":13580,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p16","layer":"bankpulse"},{"n":2,"claim":"md13082-f7365971","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"No sponsoring loans","plain_english":"A director may not sponsor any loan proposal or push a branch manager to sanction facilities.","rbi_paragraph":"Para 17","rbi_char_offset":15115,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p17","layer":"bankpulse"},{"n":3,"claim":"md13082-c9a226ea","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"No staff favours","plain_english":"A director may not push individual cases of recruitment, transfer or promotion.","rbi_paragraph":"Para 17","rbi_char_offset":15701,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p18","layer":"bankpulse"},{"n":4,"claim":"md13082-25cc9459","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"Customers' secrets kept","plain_english":"Directors and officers must not divulge any information about the bank's customers, except as law allows.","rbi_paragraph":"Para 17","rbi_char_offset":16181,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p19","layer":"bankpulse"},{"n":5,"claim":"md13082-c8efc195","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"THE CORE IDEA","heading":"Solvent, liquid, profitable","plain_english":"The bank must stay wholly solvent, adequately liquid and reasonably profitable.","rbi_paragraph":"Para 12","rbi_char_offset":11568,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p20","layer":"bankpulse"},{"n":6,"claim":"md13082-db71c63d","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"A culture of control","plain_english":"Board and management must discuss the quality of internal controls and sustain a control culture.","rbi_paragraph":"Para 14","rbi_char_offset":11980,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p21","layer":"bankpulse"},{"n":7,"claim":"md13082-739107fb","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHAT CHANGES","heading":"Interested directors step back","plain_english":"A director interested in a proposal must disclose it and stay out of the vote.","rbi_paragraph":"Para 17","rbi_char_offset":14787,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p22","layer":"bankpulse"},{"n":8,"claim":"md13082-3567ce81","page_group":"Chapter IV. Role of the Board and Individual Directors","stored_section":"WHO SHOULD ACT","heading":"Clear lines of duty","plain_english":"The board sets and enforces clear responsibility and accountability, for itself and management.","rbi_paragraph":"Para 13","rbi_char_offset":11821,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p23","layer":"bankpulse"},{"n":1,"claim":"md13082-fd802b7c","page_group":"Chapter V. Calendar of Reviews and Board Meeting Procedures","stored_section":"WHAT CHANGES","heading":"Seven themes on the agenda","plain_english":"The board agenda must cover seven themes: strategy, risk, reports, compliance, customers, inclusion and people.","rbi_paragraph":"Para 20","rbi_char_offset":20823,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p24","layer":"bankpulse"},{"n":2,"claim":"md13082-38c1415d","page_group":"Chapter V. Calendar of Reviews and Board Meeting Procedures","stored_section":"WHO SHOULD ACT","heading":"RBI circulars reach the board","plain_english":"Copies of RBI and government directives go before the board with proper background.","rbi_paragraph":"Para 21","rbi_char_offset":22333,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p25","layer":"bankpulse"},{"n":1,"claim":"md13082-95725840","page_group":"Chapter VI. Committees of the Board","stored_section":"WHAT CHANGES","heading":"A pay and names committee","plain_english":"The nominations committee has three or more non executive directors, at least half independent, one from the risk committee.","rbi_paragraph":"Para 22","rbi_char_offset":22783,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p26","layer":"bankpulse"},{"n":2,"claim":"md13082-701f66f3","page_group":"Chapter VI. Committees of the Board","stored_section":"WHAT CHANGES","heading":"The audit committee stands","plain_english":"The audit committee follows RBI's standing circulars on its constitution, functions and reviews.","rbi_paragraph":"Para 23","rbi_char_offset":23278,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p27","layer":"bankpulse"},{"n":1,"claim":"md13082-7d293195","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Directors' pay is capped","plain_english":"A non executive director's fixed pay cannot exceed ₹30 lakh a year, besides sitting fees.","rbi_paragraph":"Para 24","rbi_char_offset":23935,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A non-executive director other than the Chair may be paid a fixed sum of up to ₹30 lakh a year. A board that votes ₹35 lakh has gone past that. The Chair sits outside this paragraph.","anchor":"https://bankpulse.ai/rule/md13082#p28","layer":"bankpulse"},{"n":2,"claim":"md13082-822951d2","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Half the pay must vary","plain_english":"For top executives at least 50 per cent of pay must be variable, tied to measured performance.","rbi_paragraph":"Para 26(3)","rbi_char_offset":28184,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"At least 50 per cent of the pay must be variable. Suppose total pay is ₹80 lakh. Then ₹40 lakh of it or more varies with performance.","anchor":"https://bankpulse.ai/rule/md13082#p29","layer":"bankpulse"},{"n":3,"claim":"md13082-355c37e5","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"A cap on variable pay","plain_english":"Total variable pay is capped at 300 per cent of fixed pay.","rbi_paragraph":"Para 26(4)","rbi_char_offset":28507,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"Variable pay is limited to a maximum of 300 per cent of fixed pay. Suppose fixed pay is ₹40 lakh. Then variable pay stops at ₹1.2 crore.","anchor":"https://bankpulse.ai/rule/md13082#p30","layer":"bankpulse"},{"n":4,"claim":"md13082-f4ab1041","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Most of it waits","plain_english":"At least 60 per cent of an executive's variable pay sits under deferral.","rbi_paragraph":"Para 26(6)","rbi_char_offset":29608,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"At least 60 per cent of variable pay is deferred. Suppose variable pay is ₹50 lakh. Then ₹30 lakh waits, and ₹20 lakh may be paid now.","anchor":"https://bankpulse.ai/rule/md13082#p31","layer":"bankpulse"},{"n":5,"claim":"md13082-484cb4b8","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Three years of waiting","plain_english":"The deferral period is at least three years.","rbi_paragraph":"Para 26(6)","rbi_char_offset":29974,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p32","layer":"bankpulse"},{"n":6,"claim":"md13082-201bc246","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"No hedging pay","plain_english":"Employees may not insure or hedge their pay to undo its risk alignment.","rbi_paragraph":"Para 26(6)","rbi_char_offset":34159,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p33","layer":"bankpulse"},{"n":7,"claim":"md13082-82a80bb7","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Naming the risk takers","plain_english":"The bank must identify material risk takers using set qualitative and quantitative tests.","rbi_paragraph":"Para 26(6)","rbi_char_offset":36191,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p34","layer":"bankpulse"},{"n":8,"claim":"md13082-1b0626b7","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Pay can be taken back","plain_english":"Deferred pay faces malus and clawback if the bank or the line of business performs badly.","rbi_paragraph":"Para 26(6)","rbi_char_offset":31735,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p35","layer":"bankpulse"},{"n":9,"claim":"md13082-34334a93","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Bad-loan gaps freeze pay","plain_english":"If the bank under reports bad loans beyond the disclosure line, unvested variable pay is withheld.","rbi_paragraph":"Para 26(6)","rbi_char_offset":32675,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p36","layer":"bankpulse"},{"n":10,"claim":"md13082-c552d2d2","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"No guaranteed bonus","plain_english":"Guaranteed bonus is allowed only as a joining bonus, in the first year, and only in share linked form.","rbi_paragraph":"Para 26(6)","rbi_char_offset":33923,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p37","layer":"bankpulse"},{"n":11,"claim":"md13082-37a4cebd","page_group":"Chapter VII. Remuneration of NEDs, WTDs, MD&CEO, Material Risk Takers, and Control Function staff","stored_section":"WHAT CHANGES","heading":"Control staff paid fixed","plain_english":"Risk and audit staff are paid mostly fixed, independent of the businesses they oversee.","rbi_paragraph":"Para 26(4)","rbi_char_offset":34542,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p38","layer":"bankpulse"},{"n":1,"claim":"md13082-00b36a9b","page_group":"Chapter VIII. Regulatory approvals and Reporting","stored_section":"KEY DATES","heading":"Two names, four months","plain_english":"A new chief executive proposal carries at least two names and reaches RBI four months before the term ends.","rbi_paragraph":"Para 28","rbi_char_offset":42176,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p39","layer":"bankpulse"},{"n":2,"claim":"md13082-033d6a4c","page_group":"Chapter VIII. Regulatory approvals and Reporting","stored_section":"KEY DATES","heading":"Six months for renewal","plain_english":"A re-appointment proposal for the chief executive reaches RBI at least six months before the term ends.","rbi_paragraph":"Para 28","rbi_char_offset":42367,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p40","layer":"bankpulse"},{"n":3,"claim":"md13082-6ce9babd","page_group":"Chapter VIII. Regulatory approvals and Reporting","stored_section":"WHAT CHANGES","heading":"Board changes reported","plain_english":"Every change in board composition is reported to RBI as and when it happens.","rbi_paragraph":"Para 31","rbi_char_offset":43321,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p41","layer":"bankpulse"},{"n":4,"claim":"md13082-e6e2c6eb","page_group":"Chapter VIII. Regulatory approvals and Reporting","stored_section":"WHAT CHANGES","heading":"RBI approves the top job","plain_english":"Appointing the chairman, chief executive or a whole time director needs RBI's prior approval through PRAVAAH.","rbi_paragraph":"Para 28","rbi_char_offset":41475,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p42","layer":"bankpulse"},{"n":5,"claim":"md13082-0994ed5e","page_group":"Chapter VIII. Regulatory approvals and Reporting","stored_section":"WHAT CHANGES","heading":"Pay needs approval","plain_english":"Executive pay needs RBI approval under the banking law. The test is these very guidelines.","rbi_paragraph":"Para 29","rbi_char_offset":42518,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p43","layer":"bankpulse"},{"n":1,"claim":"md13082-3f0aaadd","page_group":"Chapter IX. Repeal and other provisions","stored_section":"WHAT IT REPLACES","heading":"Old guidance repealed","plain_english":"The earlier governance circulars for local area banks stand repealed.","rbi_paragraph":"Para 34","rbi_char_offset":44239,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p44","layer":"bankpulse"},{"n":2,"claim":"md13082-1079c38d","page_group":"Chapter IX. Repeal and other provisions","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 35","rbi_char_offset":44552,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13082#p45","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13557","title":"Reserve Bank of India (Local Area Banks – Governance)  Amendment Directions, 2026","date":"Jul 14, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13557&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."}