{"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":"md13086","title":"Reserve Bank of India (Local Area Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13086","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":"md13086","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/md13086.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13086","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:17:59 UTC","text_sha256":"fed0e871f48b6b38d8c1a00b54e23fd3df039cb2d9e87f6dec3ea7a29a168c14","word_count":4702,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":41,"points_naming_an_rbi_paragraph":41,"points_stored":41,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13086-d0d306f3","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Starts on the website","plain_english":"The rules take effect the day RBI puts them on its website.","rbi_paragraph":"Para 2","rbi_char_offset":3692,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p1","layer":"bankpulse"},{"n":2,"claim":"md13086-18bc60ea","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who must follow this","plain_english":"These rules apply to every local area bank.","rbi_paragraph":"Para 3","rbi_char_offset":3860,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p2","layer":"bankpulse"},{"n":3,"claim":"md13086-7c6183cd","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Five per cent is line","plain_english":"Five per cent of capital or voting rights makes a person a major shareholder.","rbi_paragraph":"Para 4(5)","rbi_char_offset":7775,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A man owns 3 per cent of a bank and his wife owns 2.5 per cent. Added together that is 5.5 per cent, and RBI counts a person along with his relatives. So he is a major shareholder on RBI's five per cent, even though neither name alone reaches it.","anchor":"https://bankpulse.ai/rule/md13086#p3","layer":"bankpulse"},{"n":1,"claim":"md13086-e3ffed7f","page_group":"Chapter II. 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Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"And whether it will last","plain_english":"RBI also asks whether that money can keep supporting the bank.","rbi_paragraph":"Para 6(1)","rbi_char_offset":10633,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p8","layer":"bankpulse"},{"n":6,"claim":"md13086-b0d6ad9c","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"Has he done this before","plain_english":"The buyer's business record and any past acquisitions are examined.","rbi_paragraph":"Para 6(1)","rbi_char_offset":10792,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p9","layer":"bankpulse"},{"n":7,"claim":"md13086-7b1cfcad","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"Side agreements are read","plain_english":"Shareholder agreements and what they do to control are looked at.","rbi_paragraph":"Para 6(1)","rbi_char_offset":11185,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p10","layer":"bankpulse"},{"n":8,"claim":"md13086-19e91114","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"THE CORE IDEA","heading":"Ask RBI before crossing","plain_english":"Anyone heading for major shareholding must get RBI's approval first.","rbi_paragraph":"Para 7","rbi_char_offset":11310,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p11","layer":"bankpulse"},{"n":9,"claim":"md13086-4c4b0bd7","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"RBI may ask the bank","plain_english":"RBI may ask the bank itself what it thinks of the proposed buyer.","rbi_paragraph":"Para 8","rbi_char_offset":11622,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p12","layer":"bankpulse"},{"n":10,"claim":"md13086-ef9a578a","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"RBI may allow less","plain_english":"RBI may permit a smaller holding than asked for, and that decision binds.","rbi_paragraph":"Para 12","rbi_char_offset":12566,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p13","layer":"bankpulse"},{"n":11,"claim":"md13086-d3473edf","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"And attach conditions","plain_english":"RBI may put conditions on the buyer and on the bank while permitting it.","rbi_paragraph":"Para 13","rbi_char_offset":12745,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p14","layer":"bankpulse"},{"n":12,"claim":"md13086-4a2da0de","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHAT CHANGES","heading":"Falling below spends it","plain_english":"If the holding falls below five per cent, going back up needs fresh approval.","rbi_paragraph":"Para 14","rbi_char_offset":12922,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p15","layer":"bankpulse"},{"n":13,"claim":"md13086-a8ccff1d","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHAT CHANGES","heading":"Some countries are barred","plain_english":"A person from an FATF non-compliant country cannot become a major shareholder.","rbi_paragraph":"Para 15","rbi_char_offset":13303,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p16","layer":"bankpulse"},{"n":14,"claim":"md13086-e1eb0953","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHAT CHANGES","heading":"The route counts as well","plain_english":"The bar follows the money through any country it is routed through.","rbi_paragraph":"Para 15(2)","rbi_char_offset":13637,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p17","layer":"bankpulse"},{"n":15,"claim":"md13086-bc125324","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"THE CORE IDEA","heading":"The bank writes the test","plain_english":"The board must approve its own fit and proper test for major shareholders.","rbi_paragraph":"Para 6","rbi_char_offset":8781,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p18","layer":"bankpulse"},{"n":16,"claim":"md13086-bd3ffdce","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"The board must apply itself","plain_english":"The board must discuss the proposal and judge the person itself.","rbi_paragraph":"Para 9","rbi_char_offset":11765,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p19","layer":"bankpulse"},{"n":17,"claim":"md13086-ddcb0c7d","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"KEY DATES","heading":"Thirty days to comment","plain_english":"The bank answers RBI within 30 days of its reference.","rbi_paragraph":"Para 10","rbi_char_offset":12315,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p20","layer":"bankpulse"},{"n":18,"claim":"md13086-e86f4df1","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHO SHOULD ACT","heading":"RBI checks too","plain_english":"RBI runs its own check on whether the buyer is fit and proper.","rbi_paragraph":"Para 11","rbi_char_offset":12385,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p21","layer":"bankpulse"},{"n":19,"claim":"md13086-7828122e","page_group":"Chapter II. Prior Approval for Acquisition","stored_section":"WHAT CHANGES","heading":"Existing ones may stay","plain_english":"Those already holding may keep it, but may not buy more without approval.","rbi_paragraph":"Para 16","rbi_char_offset":13767,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p22","layer":"bankpulse"},{"n":1,"claim":"md13086-6d6ba5ac","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"No approval, no vote","plain_english":"Without RBI approval that shareholder cannot vote at all.","rbi_paragraph":"Para 23","rbi_char_offset":17431,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p23","layer":"bankpulse"},{"n":2,"claim":"md13086-9ca51b01","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"Watch them for ever after","plain_english":"The bank must keep checking that its major shareholders stay fit and proper.","rbi_paragraph":"Para 17","rbi_char_offset":14286,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p24","layer":"bankpulse"},{"n":3,"claim":"md13086-4c5f16c6","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"Report a doubt at once","plain_english":"Anything that could make a shareholder unfit is reported to RBI immediately.","rbi_paragraph":"Para 18","rbi_char_offset":15299,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p25","layer":"bankpulse"},{"n":4,"claim":"md13086-9cf510d8","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"KEY DATES","heading":"One month after the year","plain_english":"A yearly report from each major shareholder within one month of year end.","rbi_paragraph":"Para 18","rbi_char_offset":15537,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p26","layer":"bankpulse"},{"n":5,"claim":"md13086-482da4b9","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"KEY DATES","heading":"The board's view by September","plain_english":"The board's opinion on those shareholders reaches RBI by September 30.","rbi_paragraph":"Para 18","rbi_char_offset":16040,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p27","layer":"bankpulse"},{"n":6,"claim":"md13086-cfa92bb8","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"Watch who owns the owner","plain_english":"The bank must learn of anyone taking 10 per cent of a major shareholder.","rbi_paragraph":"Para 19","rbi_char_offset":16204,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p28","layer":"bankpulse"},{"n":7,"claim":"md13086-e51832b0","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"KEY DATES","heading":"Thirty days for a change","plain_english":"A change in a major shareholder is reported within 30 days of hearing it.","rbi_paragraph":"Para 21","rbi_char_offset":16651,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p29","layer":"bankpulse"},{"n":8,"claim":"md13086-ad9b833c","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"Catch an unapproved holder","plain_english":"The bank must have a way to spot a major shareholder who never got approval.","rbi_paragraph":"Para 22","rbi_char_offset":16924,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p30","layer":"bankpulse"},{"n":9,"claim":"md13086-6ae0ceb3","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"Report a dodge to RBI","plain_english":"A scheme meant to get round the law goes to RBI, whatever its size.","rbi_paragraph":"Para 24","rbi_char_offset":17847,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p31","layer":"bankpulse"},{"n":10,"claim":"md13086-6e89899c","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"The board sees the watching","plain_english":"The board gets regular reports on how this monitoring is working.","rbi_paragraph":"Para 25","rbi_char_offset":18088,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p32","layer":"bankpulse"},{"n":11,"claim":"md13086-b3ec8d32","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"KEY DATES","heading":"Fourteen days after allotment","plain_english":"New shares are reported within 14 days of the allotment being completed.","rbi_paragraph":"Para 26","rbi_char_offset":18389,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p33","layer":"bankpulse"},{"n":12,"claim":"md13086-3566ff09","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"WHO SHOULD ACT","heading":"Do not breach the limit","plain_english":"The bank must see that an approved holder's limit is never crossed.","rbi_paragraph":"Para 26","rbi_char_offset":18532,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p34","layer":"bankpulse"},{"n":13,"claim":"md13086-f0d7c260","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"KEY DATES","heading":"One day for a pledge","plain_english":"A pledge of promoter shares goes to RBI within one working day.","rbi_paragraph":"Para 27","rbi_char_offset":19014,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p35","layer":"bankpulse"},{"n":14,"claim":"md13086-6166eb33","page_group":"Chapter III. Continuous Monitoring Arrangements","stored_section":"KEY DATES","heading":"Thirty days to RBI too","plain_english":"A report on that pledge also goes to RBI within 30 days of it.","rbi_paragraph":"Para 28","rbi_char_offset":19368,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p36","layer":"bankpulse"},{"n":1,"claim":"md13086-7e1b74a8","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old rules stand repealed","plain_english":"The earlier shareholding rules for these banks are repealed.","rbi_paragraph":"Para 29","rbi_char_offset":19591,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p37","layer":"bankpulse"},{"n":2,"claim":"md13086-1079c38d","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old actions still stand","plain_english":"Anything done under the old rules stays governed by those old rules.","rbi_paragraph":"Para 30","rbi_char_offset":20012,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p38","layer":"bankpulse"},{"n":3,"claim":"md13086-76f8c80d","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old approvals still count","plain_english":"Approvals given under the repealed rules now come under these rules.","rbi_paragraph":"Para 30","rbi_char_offset":20190,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p39","layer":"bankpulse"},{"n":4,"claim":"md13086-a1664389","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"IMPACT","heading":"Other laws still apply","plain_english":"These rules add to other laws. They do not cut them down.","rbi_paragraph":"Para 31","rbi_char_offset":21039,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p40","layer":"bankpulse"},{"n":5,"claim":"md13086-1f001e30","page_group":"Chapter IV. Repeal and Other Provisions","stored_section":"IMPACT","heading":"RBI's reading is final","plain_english":"If a rule is unclear, RBI's reading of it binds everyone.","rbi_paragraph":"Para 32","rbi_char_offset":21546,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13086#p41","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."}