{"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":"md13087","title":"Reserve Bank of India (Payments Banks – Miscellaneous) Directions, 2025 (Updated as on April 01, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13087","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":"Payments banks","class_code":"PB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13087","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/md13087.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13087","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:16:48 UTC","text_sha256":"94a54d6e82a772984936631cf155d702b633b29dc3687ad1945c8bcbda3e9cd5","word_count":9665,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":35,"points_naming_an_rbi_paragraph":35,"points_stored":35,"actions":0,"amendments":1},"points":[{"n":1,"claim":"md13087-06b718a8","page_group":"Opening paragraphs","stored_section":"THE CORE IDEA","heading":"One combined rulebook","plain_english":"This book holds RBI's mixed rules for payments banks in one place.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":4385,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p1","layer":"bankpulse"},{"n":1,"claim":"md13087-a2a8948e","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"The rules took effect at once, from 28 November 2025.","rbi_paragraph":"Para 2","rbi_char_offset":4609,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p2","layer":"bankpulse"},{"n":2,"claim":"md13087-6e6ece89","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These rules apply to every payments bank.","rbi_paragraph":"Para 3","rbi_char_offset":4691,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p3","layer":"bankpulse"},{"n":1,"claim":"md13087-b51c0699","page_group":"Chapter II. Role of the Board","stored_section":"WHO SHOULD ACT","heading":"Board-approved policies","plain_english":"The board must approve policies on donations, staff certificates and sensitive posts.","rbi_paragraph":"Para 7","rbi_char_offset":6036,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p4","layer":"bankpulse"},{"n":1,"claim":"md13087-2d1421a4","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"Ten-year unclaimed rule","plain_english":"Money left untouched for ten years or more goes to the RBI Fund.","rbi_paragraph":"Para 14(5)","rbi_char_offset":10450,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p5","layer":"bankpulse"},{"n":2,"claim":"md13087-c1d13bb0","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"Interest on Fund deposits","plain_english":"Since 11 May 2021, banks pay 3 percent interest on such deposits.","rbi_paragraph":"Para 20","rbi_char_offset":12812,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p6","layer":"bankpulse"},{"n":3,"claim":"md13087-78301596","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"KEY DATES","heading":"Monthly Fund transfer","plain_english":"Banks send unclaimed money to the Fund in the last five working days of a month.","rbi_paragraph":"Para 24","rbi_char_offset":19029,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p7","layer":"bankpulse"},{"n":4,"claim":"md13087-5e31da79","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"KEY DATES","heading":"Refund claim window","plain_english":"Banks file refund claims in the first 10 working days of each month.","rbi_paragraph":"Para 25(2)","rbi_char_offset":21409,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p8","layer":"bankpulse"},{"n":5,"claim":"md13087-ed8f015c","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHO SHOULD ACT","heading":"Report errors at once","plain_english":"A bank tells RBI of any error at once. It gives the reason and the checks it has added. It also assures RBI that the error will not happen again.","rbi_paragraph":"Para 28","rbi_char_offset":24977,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p9","layer":"bankpulse"},{"n":6,"claim":"md13087-b24f4c72","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"Post-refund record keeping","plain_english":"After a refund, the bank keeps those papers for at least five years.","rbi_paragraph":"Para 33","rbi_char_offset":31105,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p10","layer":"bankpulse"},{"n":7,"claim":"md13087-8cb51201","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"KEY DATES","heading":"Auditor certificate deadline","plain_english":"The statutory auditor's yearly certificate must reach RBI by 30 September.","rbi_paragraph":"Para 29(4)","rbi_char_offset":29020,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p11","layer":"bankpulse"},{"n":8,"claim":"md13087-88b560a1","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHO SHOULD ACT","heading":"Answer RBI on demand","plain_english":"RBI or the Committee may ask. The bank must then pay what is due. It must also give any information they seek on unclaimed amounts.","rbi_paragraph":"Para 34","rbi_char_offset":31213,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p12","layer":"bankpulse"},{"n":9,"claim":"md13087-d746d897","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"Fund pays for awareness","plain_english":"Money spent on depositor education, awareness and interests is charged to the Fund.","rbi_paragraph":"Para 17","rbi_char_offset":11290,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p13","layer":"bankpulse"},{"n":10,"claim":"md13087-7e9ec9a6","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHO SHOULD ACT","heading":"Pay the depositor first","plain_english":"If a depositor asks for the money, the bank repays him and then lodges a refund claim with the Fund.","rbi_paragraph":"Para 18","rbi_char_offset":11520,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p14","layer":"bankpulse"},{"n":11,"claim":"md13087-57202bc3","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"Fund account operators","plain_english":"A bank may name up to 10 officers to operate its Fund account.","rbi_paragraph":"Para 23","rbi_char_offset":17702,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p15","layer":"bankpulse"},{"n":12,"claim":"md13087-51492799","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHO SHOULD ACT","heading":"Maker-checker rule","plain_english":"Every Fund deposit and claim entry needs a maker and a checker.","rbi_paragraph":"Para 27","rbi_char_offset":24856,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p16","layer":"bankpulse"},{"n":13,"claim":"md13087-1fbcfd06","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHO SHOULD ACT","heading":"Returns go in original","plain_english":"The specified auditors certify the returns. The bank sends the original to the Fund at RBI's Central Office. It sends a copy by email as well.","rbi_paragraph":"Para 29","rbi_char_offset":25211,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p17","layer":"bankpulse"},{"n":14,"claim":"md13087-d2f6ef3a","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"KEY DATES","heading":"Reconciliation certificate dates","plain_english":"The reconciliation certificate is due by 30 April and 31 October.","rbi_paragraph":"Para 29(3)","rbi_char_offset":27927,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p18","layer":"bankpulse"},{"n":15,"claim":"md13087-58aa9014","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"Audited before and after","plain_english":"Every Fund entry is audited before and after submission and signed by both authorised signatories and the auditors.","rbi_paragraph":"Para 31","rbi_char_offset":29688,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p19","layer":"bankpulse"},{"n":16,"claim":"md13087-f629a0cd","page_group":"Chapter IV. Depositor Education and Awareness Fund","stored_section":"WHAT CHANGES","heading":"The Scheme decides","plain_english":"For anything else the bank follows the Scheme notified in the Official Gazette, and RBI's reading of it is final.","rbi_paragraph":"Para 36","rbi_char_offset":31896,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p20","layer":"bankpulse"},{"n":1,"claim":"md13087-5b3aee8b","page_group":"Chapter V. Regulatory Compliance and Legal Matters","stored_section":"WHAT CHANGES","heading":"Do not quote that circular","plain_english":"The RBI circular of 6 April 2018 was set aside by the Supreme Court and must not be cited or quoted.","rbi_paragraph":"Para 43","rbi_char_offset":34015,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p21","layer":"bankpulse"},{"n":2,"claim":"md13087-29223a70","page_group":"Chapter V. Regulatory Compliance and Legal Matters","stored_section":"WHAT CHANGES","heading":"Blocked defaulter companies","plain_english":"No money transaction is allowed for the companies a High Court declared defaulters.","rbi_paragraph":"Para 42","rbi_char_offset":33699,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p22","layer":"bankpulse"},{"n":3,"claim":"md13087-f6170781","page_group":"Chapter V. Regulatory Compliance and Legal Matters","stored_section":"WHO SHOULD ACT","heading":"Hold KYC camps","plain_english":"Banks are advised to run camps and campaigns for periodic KYC updation, especially at rural and semi-urban branches.","rbi_paragraph":"Para 45","rbi_char_offset":35298,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p23","layer":"bankpulse"},{"n":1,"claim":"md13087-af45fb07","page_group":"Chapter VI. Financial Conduct and Prohibited Activities","stored_section":"WHAT CHANGES","heading":"Donation limit","plain_english":"A bank may give away up to one percent of last year's published profit.","rbi_paragraph":"Para 56(1)","rbi_char_offset":42076,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p24","layer":"bankpulse"},{"n":2,"claim":"md13087-7ede6737","page_group":"Chapter VI. Financial Conduct and Prohibited Activities","stored_section":"WHAT CHANGES","heading":"Loss-year donation cap","plain_english":"A bank in loss may give only ₹5 lakh in a year.","rbi_paragraph":"Para 56(1)","rbi_char_offset":42798,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A bank that made a loss last year may give ₹5 lakh in donations in the year, and no more. If it has already given ₹4 lakh, only ₹1 lakh is left.","anchor":"https://bankpulse.ai/rule/md13087#p25","layer":"bankpulse"},{"n":3,"claim":"md13087-8fd950c8","page_group":"Chapter VI. Financial Conduct and Prohibited Activities","stored_section":"WHO SHOULD ACT","heading":"No lottery ties","plain_english":"A bank must not tie itself to any lottery scheme.","rbi_paragraph":"Para 62","rbi_char_offset":48180,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p26","layer":"bankpulse"},{"n":4,"claim":"md13087-21fbedf6","page_group":"Chapter VI. Financial Conduct and Prohibited Activities","stored_section":"WHO SHOULD ACT","heading":"Prize chit checks","plain_english":"Banks must check that a firm is not running a banned prize chit.","rbi_paragraph":"Para 60","rbi_char_offset":47127,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p27","layer":"bankpulse"},{"n":5,"claim":"md13087-7bf1ea6d","page_group":"Chapter VI. Financial Conduct and Prohibited Activities","stored_section":"WHO SHOULD ACT","heading":"Yearly donation review","plain_english":"The bank puts a yearly review of its donations before the board.","rbi_paragraph":"Para 57","rbi_char_offset":43678,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p28","layer":"bankpulse"},{"n":1,"claim":"md13087-a67b0e45","page_group":"Chapter VII. Taxation and Accounting Related Matters","stored_section":"WHAT CHANGES","heading":"Tax officer requests","plain_english":"An income tax officer may seek details of deposits of ₹50,000 or more.","rbi_paragraph":"Para 64(6)","rbi_char_offset":49621,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["deposit-account"],"products_excluded":[],"bankpulse_example":"An income tax officer may ask about deposits of ₹50,000 or above, and must record the reasons first. So a fixed deposit of ₹80,000 can be asked about. One of ₹20,000 cannot.","anchor":"https://bankpulse.ai/rule/md13087#p29","layer":"bankpulse"},{"n":1,"claim":"md13087-49c40120","page_group":"Chapter VIII. Human Resource and Capacity Building","stored_section":"WHO SHOULD ACT","heading":"Course certificate rule","plain_english":"Staff must earn a course certificate before they take up listed key roles.","rbi_paragraph":"Para 66","rbi_char_offset":50637,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p30","layer":"bankpulse"},{"n":1,"claim":"md13087-263e0853","page_group":"Chapter IX. Operational and Administrative Matters","stored_section":"WHAT CHANGES","heading":"Mandatory leave rule","plain_english":"Staff in sensitive posts must take at least 10 working days leave each year.","rbi_paragraph":"Para 69","rbi_char_offset":52241,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p31","layer":"bankpulse"},{"n":2,"claim":"md13087-77c09d12","page_group":"Chapter IX. Operational and Administrative Matters","stored_section":"WHO SHOULD ACT","heading":"Staff rotation policy","plain_english":"Each bank must put a staff rotation policy in place.","rbi_paragraph":"Para 70","rbi_char_offset":52736,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p32","layer":"bankpulse"},{"n":1,"claim":"md13087-c1e96e47","page_group":"Chapter XII. Repeal Provisions","stored_section":"WHAT IT REPLACES","heading":"Old instructions repealed","plain_english":"The earlier directions and guidelines on these subjects stand repealed by the circular of 28 November 2025.","rbi_paragraph":"Para 81","rbi_char_offset":59022,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A compliance officer keeps an old circular on the same subject in the manual. It no longer applies. The existing directions, instructions and guidelines on these areas stand repealed. Only this rulebook governs them now.","anchor":"https://bankpulse.ai/rule/md13087#p33","layer":"bankpulse"},{"n":2,"claim":"md13087-8a2684ab","page_group":"Chapter XII. Repeal Provisions","stored_section":"WHAT IT REPLACES","heading":"Earlier repeals stand","plain_english":"Rules already repealed before this book stay repealed.","rbi_paragraph":"Para 81","rbi_char_offset":59296,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13087#p34","layer":"bankpulse"},{"n":3,"claim":"md13087-9d276afe","page_group":"Chapter XII. Repeal Provisions","stored_section":"WHAT CHANGES","heading":"Adds to other law","plain_english":"These rules add to other laws, rules and directions in force; they do not take anything away from them.","rbi_paragraph":"Para 83","rbi_char_offset":60499,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A bank follows these Directions and thinks the matter is closed. It is not. Any other laws, rules, regulations or directions in force still apply on top. Where another one asks for more, the bank does the more.","anchor":"https://bankpulse.ai/rule/md13087#p35","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13222","title":"Reserve Bank of India (Payments Banks – Miscellaneous) – Amendment Directions, 2025","date":"Dec 11, 2025","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13222&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."}