{"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":"md13124","title":"Reserve Bank of India (Small Finance Banks – Credit Facilities) Directions, 2025 (Updated as on July 15, 2026)","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13124","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":"Small finance banks","class_code":"SFB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13124","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/md13124.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13124","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:16:26 UTC","text_sha256":"38671280c4fc8b369328fcfe60dcd8666e0bb7876eb32364cd1d1164ef96bd59","word_count":39673,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":126,"points_naming_an_rbi_paragraph":126,"points_stored":126,"actions":0,"amendments":5},"points":[{"n":1,"claim":"md13124-41453147","page_group":"Opening paragraphs","stored_section":"KEY DATES","heading":"Latest update","plain_english":"The version shown today was last updated on July 15, 2026.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":1827,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p1","layer":"bankpulse"},{"n":2,"claim":"md13124-ecb1ab4f","page_group":"Opening paragraphs","stored_section":"THE CORE IDEA","heading":"Legal basis","plain_english":"RBI issues these Directions using its own legal powers, in the public interest.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":6813,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p2","layer":"bankpulse"},{"n":1,"claim":"md13124-67ac0476","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Fifty-one per cent test","plain_english":"A project finance exposure needs at least fifty-one per cent of repayment to come from the project.","rbi_paragraph":"Para 4(1)","rbi_char_offset":20283,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":"A project loan is repaid from two sources. If less than 51 per cent comes from the project's own cash flows, it is not project finance. At least 51 per cent must come from the project.","anchor":"https://bankpulse.ai/rule/md13124#p3","layer":"bankpulse"},{"n":2,"claim":"md13124-7c9e043a","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Lending rules for SFBs","plain_english":"This document sets the lending rules for small finance banks.","rbi_paragraph":"Para 1","rbi_char_offset":6925,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p4","layer":"bankpulse"},{"n":3,"claim":"md13124-6579b142","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"These Directions took effect on the day the Reserve Bank issued them.","rbi_paragraph":"Para 2","rbi_char_offset":7058,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p5","layer":"bankpulse"},{"n":4,"claim":"md13124-13e9a109","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to every small finance bank.","rbi_paragraph":"Para 3","rbi_char_offset":7160,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p6","layer":"bankpulse"},{"n":1,"claim":"md13124-32436dc7","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"THE CORE IDEA","heading":"Outsourcing does not shift blame","plain_english":"Outsourcing never dilutes the lender's own regulatory duties.","rbi_paragraph":"Para 6(7)","rbi_char_offset":25740,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p7","layer":"bankpulse"},{"n":2,"claim":"md13124-e831058f","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"No silent limit increase","plain_english":"A credit limit cannot rise on its own; the borrower must ask and the request must be recorded.","rbi_paragraph":"Para 8(2)","rbi_char_offset":28147,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p8","layer":"bankpulse"},{"n":3,"claim":"md13124-77c5f050","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Money to the borrower","plain_english":"Loan money must reach the borrower's own account. It cannot go to a partner's account.","rbi_paragraph":"Para 10(1)","rbi_char_offset":30720,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p9","layer":"bankpulse"},{"n":4,"claim":"md13124-9cf27eeb","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"No third party in between","plain_english":"The flow of money between borrower and lender cannot be controlled by a third party.","rbi_paragraph":"Para 10(3)","rbi_char_offset":31683,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p10","layer":"bankpulse"},{"n":5,"claim":"md13124-f760c959","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Bank pays the partner","plain_english":"The bank pays its lending partner. The partner cannot collect those charges from the borrower.","rbi_paragraph":"Para 10(4)","rbi_char_offset":31851,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p11","layer":"bankpulse"},{"n":6,"claim":"md13124-341f7000","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"KEY DATES","heading":"One day to walk away","plain_english":"The cooling off period is set in the credit policy and can never be shorter than one day.","rbi_paragraph":"Para 11(1)","rbi_char_offset":32891,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p12","layer":"bankpulse"},{"n":7,"claim":"md13124-ecdbdfe1","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"No access to phone data","plain_english":"A lending app must not reach the phone's files, media, contact list or call logs.","rbi_paragraph":"Para 13(1)","rbi_char_offset":35078,"weight":"MUST KNOW","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p13","layer":"bankpulse"},{"n":8,"claim":"md13124-7e8c7e20","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"No biometric data","plain_english":"Biometric data must not be collected or stored unless a statute allows it.","rbi_paragraph":"Para 14(3)","rbi_char_offset":36936,"weight":"MUST KNOW","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p14","layer":"bankpulse"},{"n":9,"claim":"md13124-2b35cc99","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Data back in a day","plain_english":"Data processed abroad must be deleted there and brought back within 24 hours.","rbi_paragraph":"Para 14(4)","rbi_char_offset":37221,"weight":"MUST KNOW","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p15","layer":"bankpulse"},{"n":10,"claim":"md13124-dc9e180c","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"THE CORE IDEA","heading":"A guarantee is not underwriting","plain_english":"A default loss guarantee cannot stand in place of proper credit appraisal.","rbi_paragraph":"Para 20(2)","rbi_char_offset":42444,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p16","layer":"bankpulse"},{"n":11,"claim":"md13124-f5777afa","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Not on revolving credit","plain_english":"Default loss guarantees are barred on revolving credit and on credit cards.","rbi_paragraph":"Para 21(1)","rbi_char_offset":43397,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":["credit-card"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p17","layer":"bankpulse"},{"n":12,"claim":"md13124-0d96af89","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Default guarantee cap","plain_english":"The guarantee cover agreed up front cannot be more than 5 percent of the money paid out of that loan pool.","rbi_paragraph":"Para 24(1)","rbi_char_offset":44655,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p18","layer":"bankpulse"},{"n":13,"claim":"md13124-089928f9","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Guarantee cover capped","plain_english":"The guarantee giver cannot carry the risk of more than five per cent of the loan pool.","rbi_paragraph":"Para 24(1)","rbi_char_offset":44892,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p19","layer":"bankpulse"},{"n":14,"claim":"md13124-682df5f5","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"120 days to invoke cover","plain_english":"The bank must call in that guarantee within 120 days of the loan falling overdue.","rbi_paragraph":"Para 27(1)","rbi_char_offset":49156,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p20","layer":"bankpulse"},{"n":15,"claim":"md13124-c9a46307","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"KEY DATES","heading":"Monthly disclosure, seven days","plain_english":"The guarantee disclosure is monthly and is due within seven working days of the month end.","rbi_paragraph":"Para 28(1)","rbi_char_offset":49929,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p21","layer":"bankpulse"},{"n":16,"claim":"md13124-944bec37","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"Review the provider's conduct","plain_english":"The service provider's conduct against the contract must be reviewed from time to time.","rbi_paragraph":"Para 6(3)","rbi_char_offset":24711,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p22","layer":"bankpulse"},{"n":17,"claim":"md13124-be758214","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"Watch the loans they source","plain_english":"The policy must set out how loan books sourced through service providers are monitored.","rbi_paragraph":"Para 6(4)","rbi_char_offset":24943,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p23","layer":"bankpulse"},{"n":18,"claim":"md13124-c52f8542","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Show every matching offer","plain_english":"The borrower must be shown a digital view of every matching loan offer.","rbi_paragraph":"Para 7(1)","rbi_char_offset":26133,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p24","layer":"bankpulse"},{"n":19,"claim":"md13124-4df38a98","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Same treatment for like borrowers","plain_english":"Borrowers in the same position must be matched to lenders by a consistent method.","rbi_paragraph":"Para 7(2)","rbi_char_offset":26461,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p25","layer":"bankpulse"},{"n":20,"claim":"md13124-db2658ba","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"What the offer must state","plain_english":"Each offer must name the lender and state the amount, the tenor, the annual rate and the monthly outgo.","rbi_paragraph":"Para 7(3)","rbi_char_offset":26657,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p26","layer":"bankpulse"},{"n":21,"claim":"md13124-4d407cde","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Key Fact Statement","plain_english":"A Key Fact Statement must be given to the borrower.","rbi_paragraph":"Para 9(1)","rbi_char_offset":28330,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p27","layer":"bankpulse"},{"n":22,"claim":"md13124-644a76aa","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"Publish the lending details","plain_english":"The lender must keep a public website carrying its digital lending details in one place.","rbi_paragraph":"Para 9(4)","rbi_char_offset":29302,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p28","layer":"bankpulse"},{"n":23,"claim":"md13124-b2cfacd8","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Money moves directly","plain_english":"Repayments must reach the lender's account directly, with no pass-through or pool account in between.","rbi_paragraph":"Para 10(2)","rbi_char_offset":31507,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p29","layer":"bankpulse"},{"n":24,"claim":"md13124-f9d3e4ae","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"Officers for complaints","plain_english":"The bank and its digital lending partner must each name an officer for complaints.","rbi_paragraph":"Para 12(1)","rbi_char_offset":33361,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p30","layer":"bankpulse"},{"n":25,"claim":"md13124-4264bf57","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"A named grievance officer","plain_english":"A nodal grievance redressal officer must be named for digital lending complaints.","rbi_paragraph":"Para 12(1)","rbi_char_offset":33421,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p31","layer":"bankpulse"},{"n":26,"claim":"md13124-4350fd70","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Show the officer's contact","plain_english":"The officer's contact details must appear on the website, the app and the Key Fact Statement.","rbi_paragraph":"Para 12(2)","rbi_char_offset":33580,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p32","layer":"bankpulse"},{"n":27,"claim":"md13124-82ff5fd5","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Complain from the app","plain_english":"A complaint must be capable of being lodged from the lending app itself.","rbi_paragraph":"Para 12(3)","rbi_char_offset":33755,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p33","layer":"bankpulse"},{"n":28,"claim":"md13124-3e10f7a8","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Collect only what is needed","plain_english":"Data collection must be need-based, with the borrower's prior explicit consent and an audit trail.","rbi_paragraph":"Para 13(1)","rbi_char_offset":34975,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p34","layer":"bankpulse"},{"n":29,"claim":"md13124-e9138db0","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Data stays in India","plain_english":"All data must sit on servers located in India.","rbi_paragraph":"Para 14(4)","rbi_char_offset":37072,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p35","layer":"bankpulse"},{"n":30,"claim":"md13124-eaca833c","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"A published privacy policy","plain_english":"A comprehensive privacy policy must be published on the website and the app.","rbi_paragraph":"Para 15(1)","rbi_char_offset":37446,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p36","layer":"bankpulse"},{"n":31,"claim":"md13124-3acc29c3","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Name the data collectors","plain_english":"The privacy policy must name the third parties allowed to collect data through the app.","rbi_paragraph":"Para 15(2)","rbi_char_offset":37718,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p37","layer":"bankpulse"},{"n":32,"claim":"md13124-2e078b42","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Guarantor must be a company","plain_english":"A service provider giving a default loss guarantee must be a company under the Companies Act.","rbi_paragraph":"Para 19","rbi_char_offset":41879,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p38","layer":"bankpulse"},{"n":33,"claim":"md13124-3643fef6","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"Test the guarantor's capacity","plain_english":"Before each guarantee arrangement or renewal, the guarantor's ability to pay must be established.","rbi_paragraph":"Para 20(3)","rbi_char_offset":42706,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p39","layer":"bankpulse"},{"n":34,"claim":"md13124-b1cef124","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"KEY DATES","heading":"Guarantee outlives the loans","plain_english":"The guarantee agreement must run at least as long as the longest loan it covers.","rbi_paragraph":"Para 27(2)","rbi_char_offset":49347,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p40","layer":"bankpulse"},{"n":35,"claim":"md13124-654c57f5","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Contract before any lending","plain_english":"Digital lending through a service provider needs a written contract setting out each side's duties.","rbi_paragraph":"Para 6(1)","rbi_char_offset":24177,"weight":"BACKGROUND","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p41","layer":"bankpulse"},{"n":36,"claim":"md13124-b9cba198","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHO SHOULD ACT","heading":"Know the borrower's means","plain_english":"Creditworthiness must be assessed from the borrower's own economic profile before any loan.","rbi_paragraph":"Para 8(1)","rbi_char_offset":27926,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p42","layer":"bankpulse"},{"n":37,"claim":"md13124-bc405633","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Lender pays the provider","plain_english":"Fees due to a service provider are paid by the lender, not collected from the borrower.","rbi_paragraph":"Para 10(4)","rbi_char_offset":31843,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p43","layer":"bankpulse"},{"n":38,"claim":"md13124-4bf17bac","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Free exit window","plain_english":"A borrower may leave a digital loan during the cooling-off period without paying a penalty.","rbi_paragraph":"Para 11(1)","rbi_char_offset":32593,"weight":"BACKGROUND","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p44","layer":"bankpulse"},{"n":39,"claim":"md13124-f41a839f","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Consent can be withdrawn","plain_english":"The borrower may refuse, restrict or withdraw consent and ask for the data to be deleted.","rbi_paragraph":"Para 13(2)","rbi_char_offset":35594,"weight":"BACKGROUND","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p45","layer":"bankpulse"},{"n":40,"claim":"md13124-a0d7220d","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Ask before sharing","plain_english":"Personal information goes to a third party only with explicit consent or under law.","rbi_paragraph":"Para 13(4)","rbi_char_offset":35834,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p46","layer":"bankpulse"},{"n":41,"claim":"md13124-d2123709","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Providers store almost nothing","plain_english":"A service provider may hold only basic contact data about the borrower.","rbi_paragraph":"Para 14(1)","rbi_char_offset":36101,"weight":"BACKGROUND","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p47","layer":"bankpulse"},{"n":42,"claim":"md13124-1e106707","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"THE CORE IDEA","heading":"Listing is not approval","plain_english":"Appearing on the Reserve Bank's list confers no registration, authorisation or endorsement.","rbi_paragraph":"Para 18(6)","rbi_char_offset":41427,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p48","layer":"bankpulse"},{"n":43,"claim":"md13124-faae869f","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"THE CORE IDEA","heading":"Borrower still owes the loan","plain_english":"Invoking the guarantee does not reduce what the borrower owes on the underlying loan.","rbi_paragraph":"Para 25(2)","rbi_char_offset":48326,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p49","layer":"bankpulse"},{"n":44,"claim":"md13124-a30846f9","page_group":"Chapter III. Digital Lending Guidelines","stored_section":"WHAT CHANGES","heading":"Invoked cover is not restored","plain_english":"Once a default loss guarantee is invoked, the cover is not reinstated even after recovery.","rbi_paragraph":"Para 25(4)","rbi_char_offset":48595,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p50","layer":"bankpulse"},{"n":1,"claim":"md13124-e469ab42","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Full check above ₹2.5 lakh","plain_english":"A loan above ₹2.5 lakh against gold or silver needs a full repayment capacity check.","rbi_paragraph":"Para 34","rbi_char_offset":53445,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A borrower has a gold loan of ₹2 lakh and asks for another ₹1 lakh. The total against the collateral becomes ₹3 lakh. That is above ₹2.5 lakh, so a full repayment capacity check is needed.","anchor":"https://bankpulse.ai/rule/md13124#p51","layer":"bankpulse"},{"n":2,"claim":"md13124-6e810c8e","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Barred gold lending","plain_english":"Banks cannot lend against primary gold, silver, or financial assets backed by them.","rbi_paragraph":"Para 36(2)","rbi_char_offset":54632,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p52","layer":"bankpulse"},{"n":3,"claim":"md13124-3705e077","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Ownership must be clear","plain_english":"A bank cannot lend where the ownership of the pledged metal is in doubt.","rbi_paragraph":"Para 37","rbi_char_offset":55095,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p53","layer":"bankpulse"},{"n":4,"claim":"md13124-988ffa83","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"No re-pledging of gold","plain_english":"A bank cannot raise its own loan by re-pledging gold or silver that borrowers pledged to it.","rbi_paragraph":"Para 38(1)","rbi_char_offset":55647,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p54","layer":"bankpulse"},{"n":5,"claim":"md13124-8331a7ed","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Bullet loan tenor","plain_english":"A consumption loan repaid in one payment at the end cannot run beyond 12 months.","rbi_paragraph":"Para 39","rbi_char_offset":56075,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p55","layer":"bankpulse"},{"n":6,"claim":"md13124-8e980684","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"One-kilogram pledge cap","plain_english":"A borrower's pledged gold ornaments cannot together exceed 1 kilogram.","rbi_paragraph":"Para 40(1)","rbi_char_offset":56366,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["gold-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p56","layer":"bankpulse"},{"n":7,"claim":"md13124-74186012","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Coin weight limit","plain_english":"Coins pledged by one borrower cannot cross 50 grams of gold or 500 grams of silver.","rbi_paragraph":"Para 40(2)","rbi_char_offset":56455,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p57","layer":"bankpulse"},{"n":8,"claim":"md13124-1e61fee1","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Up to ₹2.5 lakh","plain_english":"A consumption loan up to ₹2.5 lakh may not exceed 85 per cent of the pledged metal value.","rbi_paragraph":"Para 44","rbi_char_offset":57918,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p58","layer":"bankpulse"},{"n":9,"claim":"md13124-832e8eae","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"₹2.5 lakh to ₹5 lakh","plain_english":"A consumption loan between ₹2.5 lakh and ₹5 lakh may not exceed 80 per cent of the pledged value.","rbi_paragraph":"Para 44","rbi_char_offset":57997,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p59","layer":"bankpulse"},{"n":10,"claim":"md13124-8ac9ec3c","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Above ₹5 lakh","plain_english":"A consumption loan above ₹5 lakh may not exceed 75 per cent of the pledged metal value.","rbi_paragraph":"Para 44","rbi_char_offset":58033,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p60","layer":"bankpulse"},{"n":11,"claim":"md13124-04431247","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHO SHOULD ACT","heading":"Papers for priority lending","plain_english":"The policy must also list the papers to collect and keep for priority sector loans.","rbi_paragraph":"Para 33","rbi_char_offset":53047,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p61","layer":"bankpulse"},{"n":12,"claim":"md13124-42e399a8","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"No gold loans for speculation","plain_english":"The bank must check that a borrower is not buying or holding gold to invest or speculate.","rbi_paragraph":"Para 36(2)","rbi_char_offset":54965,"weight":"DO IT","role":"Branch","team":null,"products_covered":["gold-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p62","layer":"bankpulse"},{"n":13,"claim":"md13124-06bac6cd","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Valued at actual purity","plain_english":"Gold or silver must be valued at the reference price for its real purity.","rbi_paragraph":"Para 41","rbi_char_offset":56672,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p63","layer":"bankpulse"},{"n":14,"claim":"md13124-e45cf7cf","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Loan ratio held throughout","plain_english":"The loan to value ratio must hold for the whole life of the loan.","rbi_paragraph":"Para 45","rbi_char_offset":58418,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p64","layer":"bankpulse"},{"n":15,"claim":"md13124-e8b0a5e7","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Renewal within the ratio","plain_english":"A renewal or top-up is allowed only within the permitted ratio and while the loan is standard.","rbi_paragraph":"Para 35","rbi_char_offset":53966,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p65","layer":"bankpulse"},{"n":16,"claim":"md13124-2f816f46","page_group":"Chapter IV. Lending against Gold and Silver Collateral","stored_section":"WHAT CHANGES","heading":"Bullet repayment loans","plain_english":"On a bullet repayment loan the ratio is worked out on the total amount repayable at maturity.","rbi_paragraph":"Para 44","rbi_char_offset":58273,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p66","layer":"bankpulse"},{"n":1,"claim":"md13124-87399162","page_group":"Chapter VA. Gold Metal Loans (GML)","stored_section":"WHO SHOULD ACT","heading":"Gold metal loan checks","plain_english":"The policy must set the checks for deciding who may take a gold metal loan.","rbi_paragraph":"Para 50(2)","rbi_char_offset":61949,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p67","layer":"bankpulse"},{"n":1,"claim":"md13124-440285dd","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Microfinance income ceiling","plain_english":"A microfinance loan goes to a household earning up to ₹3,00,000 a year.","rbi_paragraph":"Para 61","rbi_char_offset":65325,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p68","layer":"bankpulse"},{"n":2,"claim":"md13124-d3c53023","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Three lakh income test","plain_english":"A collateral-free loan to a household earning up to three lakh rupees a year is microfinance.","rbi_paragraph":"Para 62","rbi_char_offset":65761,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p69","layer":"bankpulse"},{"n":3,"claim":"md13124-ee9b213a","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Half the household income","plain_english":"All loan repayments of a household together cannot exceed half of its monthly income.","rbi_paragraph":"Para 67","rbi_char_offset":69985,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p70","layer":"bankpulse"},{"n":4,"claim":"md13124-e5384cdc","page_group":"Chapter VI. Microfinance","stored_section":"WHO SHOULD ACT","heading":"Household income policy","plain_english":"The Board must approve a policy for judging household income before a microfinance loan.","rbi_paragraph":"Para 63","rbi_char_offset":66092,"weight":"DO IT","role":"Board","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p71","layer":"bankpulse"},{"n":5,"claim":"md13124-f4ed5dbe","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Income sent to bureaus","plain_english":"The bank must report the household income it assesses to the credit information companies.","rbi_paragraph":"Para 65","rbi_char_offset":68820,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p72","layer":"bankpulse"},{"n":6,"claim":"md13124-b6b39e91","page_group":"Chapter VI. Microfinance","stored_section":"WHO SHOULD ACT","heading":"Repayment limit policy","plain_english":"The Board must also approve a policy that caps monthly loan repayments against income.","rbi_paragraph":"Para 66","rbi_char_offset":69211,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p73","layer":"bankpulse"},{"n":7,"claim":"md13124-692ad795","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Flexible repayment offered","plain_english":"The Board must approve a policy letting microfinance borrowers choose how often they repay.","rbi_paragraph":"Para 70","rbi_char_offset":70888,"weight":"DO IT","role":"Board","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p74","layer":"bankpulse"},{"n":8,"claim":"md13124-051103fe","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Household defined","plain_english":"A household here means the husband, the wife and their unmarried children.","rbi_paragraph":"Para 61","rbi_char_offset":65453,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p75","layer":"bankpulse"},{"n":9,"claim":"md13124-c25259ea","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Every loan counted","plain_english":"That count includes every other loan of the household, whether secured or not.","rbi_paragraph":"Para 67","rbi_char_offset":69788,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p76","layer":"bankpulse"},{"n":10,"claim":"md13124-7871e5bf","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"Old loans run their course","plain_english":"Loans already above the repayment ceiling are allowed to run to maturity.","rbi_paragraph":"Para 68","rbi_char_offset":70352,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p77","layer":"bankpulse"},{"n":11,"claim":"md13124-8bc20213","page_group":"Chapter VI. Microfinance","stored_section":"WHAT CHANGES","heading":"No fresh loan above cap","plain_english":"No new loan may be given until the household comes back within that limit.","rbi_paragraph":"Para 68","rbi_char_offset":70422,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p78","layer":"bankpulse"},{"n":1,"claim":"md13124-366154fe","page_group":"Chapter VII. Project Finance","stored_section":"WHAT CHANGES","heading":"Repayment against project life","plain_english":"The repayment period cannot cross 85 per cent of the economic life of the project.","rbi_paragraph":"Para 75(3)","rbi_char_offset":73858,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A project has an economic life of 20 years. The repayment period, moratorium included, may not exceed 85 per cent of that. Eighty-five per cent of 20 years is 17 years.","anchor":"https://bankpulse.ai/rule/md13124#p79","layer":"bankpulse"},{"n":2,"claim":"md13124-ca49042a","page_group":"Chapter VII. Project Finance","stored_section":"WHAT CHANGES","heading":"Smaller project share","plain_english":"In a project loan pool up to ₹1,500 crore, each bank must hold at least 10 per cent.","rbi_paragraph":"Para 77","rbi_char_offset":74136,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p80","layer":"bankpulse"},{"n":3,"claim":"md13124-4919fbff","page_group":"Chapter VII. Project Finance","stored_section":"WHAT CHANGES","heading":"Larger project share","plain_english":"Above ₹1,500 crore, the floor is 5 per cent of the pool or ₹150 crore, whichever is higher.","rbi_paragraph":"Para 77","rbi_char_offset":74335,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p81","layer":"bankpulse"},{"n":4,"claim":"md13124-12087ef8","page_group":"Chapter VII. Project Finance","stored_section":"WHAT CHANGES","heading":"Viability study needed","plain_english":"A project loan pool of ₹100 crore or more needs a techno-economic viability study.","rbi_paragraph":"Para 82","rbi_char_offset":77837,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p82","layer":"bankpulse"},{"n":5,"claim":"md13124-5f60ab9f","page_group":"Chapter VII. Project Finance","stored_section":"KEY DATES","heading":"Fifteen days for project data","plain_english":"A change in any project loan detail must be recorded within 15 days.","rbi_paragraph":"Para 86","rbi_char_offset":80394,"weight":"MUST KNOW","role":"Technology","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p83","layer":"bankpulse"},{"n":6,"claim":"md13124-fef3ece7","page_group":"Chapter VII. Project Finance","stored_section":"KEY DATES","heading":"Three months for systems","plain_english":"The system that keeps those project records must be ready within three months.","rbi_paragraph":"Para 86","rbi_char_offset":80533,"weight":"MUST KNOW","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p84","layer":"bankpulse"},{"n":7,"claim":"md13124-86a625b9","page_group":"Chapter VII. Project Finance","stored_section":"WHO SHOULD ACT","heading":"Credit policy covers project loans","plain_english":"The credit policy must carry its own clauses for sanctioning project finance.","rbi_paragraph":"Para 74","rbi_char_offset":73269,"weight":"DO IT","role":"Compliance","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p85","layer":"bankpulse"},{"n":8,"claim":"md13124-626693d5","page_group":"Chapter VII. Project Finance","stored_section":"WHAT CHANGES","heading":"Closure and a dated completion","plain_english":"Funds are released only after financial closure, with the completion date documented.","rbi_paragraph":"Para 75(1)","rbi_char_offset":73484,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p86","layer":"bankpulse"},{"n":9,"claim":"md13124-0a892ded","page_group":"Chapter VII. Project Finance","stored_section":"WHAT CHANGES","heading":"Land readiness rule","plain_english":"PPP projects need 50% of land ready, other projects need 75%, before money is paid out.","rbi_paragraph":"Para 80(1)","rbi_char_offset":76398,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p87","layer":"bankpulse"},{"n":1,"claim":"md13124-6ceb93e6","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"Unauthorised colonies barred","plain_english":"No loan may be given on a property in an unauthorised colony until it is regularised.","rbi_paragraph":"Para 92(6)","rbi_char_offset":84940,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p88","layer":"bankpulse"},{"n":2,"claim":"md13124-e1e19074","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"Three years to finish","plain_english":"A housing project financed by the bank must be completed within three years.","rbi_paragraph":"Para 98","rbi_char_offset":88989,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p89","layer":"bankpulse"},{"n":3,"claim":"md13124-31119d29","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"No land loans to builders","plain_english":"A bank cannot fund a private builder's purchase of land, even inside a housing project.","rbi_paragraph":"Para 104","rbi_char_offset":91129,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p90","layer":"bankpulse"},{"n":4,"claim":"md13124-40bdf5e1","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"Ten lakh house exemption","plain_english":"Where the house costs up to ten lakh rupees, stamp duty may be added before the ratio is worked out.","rbi_paragraph":"Para 113","rbi_char_offset":94388,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p91","layer":"bankpulse"},{"n":5,"claim":"md13124-9b67aa3c","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"Ten per cent commercial space","plain_english":"A housing project stays residential only while commercial space is within a tenth of the floor space.","rbi_paragraph":"Para 131","rbi_char_offset":117352,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p92","layer":"bankpulse"},{"n":6,"claim":"md13124-8d2f1cdb","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHO SHOULD ACT","heading":"Policy for real estate","plain_english":"The Board must approve a policy on real estate exposure limits, margins, security and repayment.","rbi_paragraph":"Para 88","rbi_char_offset":81011,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p93","layer":"bankpulse"},{"n":7,"claim":"md13124-826da8f5","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"THE CORE IDEA","heading":"Not for speculation","plain_english":"Credit must go to productive construction, not to speculation in real estate.","rbi_paragraph":"Para 89","rbi_char_offset":81418,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p94","layer":"bankpulse"},{"n":8,"claim":"md13124-0622259b","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"No offices for government","plain_english":"Finance is not available for buildings meant purely for government or municipal offices.","rbi_paragraph":"Para 96(1)","rbi_char_offset":86462,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p95","layer":"bankpulse"},{"n":9,"claim":"md13124-d33329f5","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"Land valued at market price","plain_english":"Land taken as collateral is valued at the current market price only.","rbi_paragraph":"Para 100(2)","rbi_char_offset":90231,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p96","layer":"bankpulse"},{"n":10,"claim":"md13124-1ecda303","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"THE CORE IDEA","heading":"Repayment decides the label","plain_english":"If repayment depends on business profit rather than the property, it is not commercial real estate.","rbi_paragraph":"Para 125(3)","rbi_char_offset":102914,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["commercial-real-estate"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p97","layer":"bankpulse"},{"n":11,"claim":"md13124-fe62fd8e","page_group":"Chapter VIII. Credit Facilities to Real Estate Sector","stored_section":"WHAT CHANGES","heading":"Third house counts differently","plain_english":"A loan for a person's third home onwards is treated as commercial property lending.","rbi_paragraph":"Para 133","rbi_char_offset":118145,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p98","layer":"bankpulse"},{"n":1,"claim":"md13124-66e6a085","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHAT CHANGES","heading":"Not for the budget gap","plain_english":"Loans to a special purpose vehicle must not end up financing a government budget deficit.","rbi_paragraph":"Para 134(3)","rbi_char_offset":119457,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p99","layer":"bankpulse"},{"n":2,"claim":"md13124-664cf33b","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHAT CHANGES","heading":"Not while a unit struggles","plain_english":"Lending to a trust is barred where an underlying company with bank loans is in financial difficulty.","rbi_paragraph":"Para 137(3)","rbi_char_offset":124700,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p100","layer":"bankpulse"},{"n":3,"claim":"md13124-c21d9764","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHO SHOULD ACT","heading":"Cash must cover the debt","plain_english":"The trust's cash flows must be tested as sufficient to service the debt on time.","rbi_paragraph":"Para 137(2)","rbi_char_offset":124017,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p101","layer":"bankpulse"},{"n":4,"claim":"md13124-74a2c622","page_group":"Chapter IX. Infrastructure Financing","stored_section":"KEY DATES","heading":"Audit Committee reviews it","plain_english":"The Audit Committee of the Board must review compliance twice a year.","rbi_paragraph":"Para 137(5)","rbi_char_offset":125025,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p102","layer":"bankpulse"},{"n":5,"claim":"md13124-07e227a8","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHO SHOULD ACT","heading":"Expertise before infrastructure","plain_english":"Infrastructure lending needs the appraisal expertise for it.","rbi_paragraph":"Para 134(1)","rbi_char_offset":118592,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p103","layer":"bankpulse"},{"n":6,"claim":"md13124-da62ea03","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHAT CHANGES","heading":"Only corporate public entities","plain_english":"Term loans to public sector units go only to bodies incorporated under a statute or the Companies Act.","rbi_paragraph":"Para 134(2)","rbi_char_offset":118849,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p104","layer":"bankpulse"},{"n":7,"claim":"md13124-111e575d","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHAT CHANGES","heading":"Named and trackable projects","plain_english":"Funding a special purpose vehicle requires a specific monitorable project.","rbi_paragraph":"Para 134(5)","rbi_char_offset":119996,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p105","layer":"bankpulse"},{"n":8,"claim":"md13124-2a287bf8","page_group":"Chapter IX. Infrastructure Financing","stored_section":"WHO SHOULD ACT","heading":"A policy for trust lending","plain_english":"Lending to an infrastructure trust needs a Board policy covering appraisal, limits and monitoring.","rbi_paragraph":"Para 137(1)","rbi_char_offset":123742,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p106","layer":"bankpulse"},{"n":1,"claim":"md13124-d87d7dcb","page_group":"Chapter X. Discounting / Rediscounting of Bills","stored_section":"WHO SHOULD ACT","heading":"Appraise before a bill limit","plain_english":"Working capital and bill limits follow a proper appraisal and the Board approved policy.","rbi_paragraph":"Para 144","rbi_char_offset":128653,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":["working-capital"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p107","layer":"bankpulse"},{"n":2,"claim":"md13124-61b041f3","page_group":"Chapter X. Discounting / Rediscounting of Bills","stored_section":"WHAT CHANGES","heading":"Service bills are unsecured","plain_english":"Finance against a services sector bill counts as an unsecured advance.","rbi_paragraph":"Para 155","rbi_char_offset":133388,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p108","layer":"bankpulse"},{"n":1,"claim":"md13124-2b222f54","page_group":"Chapter XI. Loans Against Financial Assets","stored_section":"WHAT CHANGES","heading":"₹1 crore against securities","plain_english":"Loans to one person against eligible securities are capped at ₹1 crore across all banks.","rbi_paragraph":"Para 200(2)","rbi_char_offset":142008,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p109","layer":"bankpulse"},{"n":2,"claim":"md13124-356e2656","page_group":"Chapter XI. Loans Against Financial Assets","stored_section":"WHAT CHANGES","heading":"₹25 lakh for share buying","plain_english":"Inside that cap, only ₹25 lakh may fund the purchase of securities in the market.","rbi_paragraph":"Para 200(2)","rbi_char_offset":142289,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p110","layer":"bankpulse"},{"n":1,"claim":"md13124-d4f7389f","page_group":"Chapter XIA. Credit Facilities to Capital Market Intermediaries (CMIs)","stored_section":"WHAT CHANGES","heading":"Broker guarantee cover","plain_english":"A guarantee for a broker needs 50 per cent collateral, of which half must be cash.","rbi_paragraph":"Para 200(2)","rbi_char_offset":146167,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p111","layer":"bankpulse"},{"n":2,"claim":"md13124-16034dbd","page_group":"Chapter XIA. Credit Facilities to Capital Market Intermediaries (CMIs)","stored_section":"WHAT CHANGES","heading":"Haircut on shares","plain_english":"Equity shares taken as security carry a haircut of at least 40 per cent.","rbi_paragraph":"Para 200(3)","rbi_char_offset":149140,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p112","layer":"bankpulse"},{"n":1,"claim":"md13124-b13a681c","page_group":"Chapter XIII. Export Credit","stored_section":"WHAT CHANGES","heading":"360 days for packing credit","plain_english":"Pre-shipment credit not settled within 360 days stops counting as export credit.","rbi_paragraph":"Para 217","rbi_char_offset":159067,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":["export-credit"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p113","layer":"bankpulse"},{"n":2,"claim":"md13124-b1a1b806","page_group":"Chapter XIII. Export Credit","stored_section":"WHAT CHANGES","heading":"Standby limit for exporters","plain_english":"A Gold Card holder also gets a standby limit of at least 20 per cent.","rbi_paragraph":"Para 356","rbi_char_offset":214216,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p114","layer":"bankpulse"},{"n":3,"claim":"md13124-dd70cf98","page_group":"Chapter XIII. Export Credit","stored_section":"WHAT CHANGES","heading":"Gold Card service times","plain_english":"A Gold Card request must be settled in 25, 15 or seven days by type.","rbi_paragraph":"Para 358","rbi_char_offset":214653,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p115","layer":"bankpulse"},{"n":1,"claim":"md13124-9b1b867e","page_group":"Chapter XIV. Non-Fund Based (NFB) Credit Facilities","stored_section":"WHAT CHANGES","heading":"Half of a bond issue","plain_english":"Credit support from one bank for a bond issue cannot cross half its size.","rbi_paragraph":"Para 407","rbi_char_offset":234651,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p116","layer":"bankpulse"},{"n":2,"claim":"md13124-57584592","page_group":"Chapter XIV. Non-Fund Based (NFB) Credit Facilities","stored_section":"WHAT CHANGES","heading":"Support against Tier 1","plain_english":"All such credit support together cannot cross 20 per cent of Tier 1 capital.","rbi_paragraph":"Para 417(2)","rbi_char_offset":237897,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p117","layer":"bankpulse"},{"n":3,"claim":"md13124-9eaeaac2","page_group":"Chapter XIV. Non-Fund Based (NFB) Credit Facilities","stored_section":"WHAT CHANGES","heading":"Ceilings on guarantees","plain_english":"The bank must set its own limits on guarantees, and tighter limits on unsecured guarantees.","rbi_paragraph":"Para 387","rbi_char_offset":225059,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p118","layer":"bankpulse"},{"n":4,"claim":"md13124-a0084833","page_group":"Chapter XIV. Non-Fund Based (NFB) Credit Facilities","stored_section":"WHAT CHANGES","heading":"Guarantee must be honoured","plain_english":"A bank must honour its guarantee when it is invoked, unless a court stops it.","rbi_paragraph":"Para 389","rbi_char_offset":225502,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p119","layer":"bankpulse"},{"n":5,"claim":"md13124-6e8e4dba","page_group":"Chapter XIV. Non-Fund Based (NFB) Credit Facilities","stored_section":"WHAT CHANGES","heading":"Watch how guarantees are used","plain_english":"The bank must track that guaranteed money is used for the business need it was given for.","rbi_paragraph":"Para 401","rbi_char_offset":232339,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p120","layer":"bankpulse"},{"n":1,"claim":"md13124-7f0c67e8","page_group":"Chapter XV. Miscellaneous Provisions","stored_section":"WHAT CHANGES","heading":"No bridge loans on subsidies","plain_english":"A bank cannot give a bridge loan against subsidies or refunds due from government.","rbi_paragraph":"Para 431","rbi_char_offset":241360,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p121","layer":"bankpulse"},{"n":1,"claim":"md13124-b584635a","page_group":"Chapter XVI. Repeal and other provisions","stored_section":"KEY DATES","heading":"Later update","plain_english":"RBI updated these Directions again on July 15, 2026.","rbi_paragraph":"Para 435","rbi_char_offset":246891,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p122","layer":"bankpulse"},{"n":2,"claim":"md13124-30fee77a","page_group":"Chapter XVI. 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 433","rbi_char_offset":242914,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p123","layer":"bankpulse"},{"n":3,"claim":"md13124-562eb172","page_group":"Chapter XVI. 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 433","rbi_char_offset":243093,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p124","layer":"bankpulse"},{"n":4,"claim":"md13124-b0bc422a","page_group":"Chapter XVI. Repeal and other provisions","stored_section":"WHO IT APPLIES TO","heading":"Relation to other laws","plain_english":"These Directions add to other laws; they do not cancel any of them.","rbi_paragraph":"Para 434","rbi_char_offset":243955,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13124#p125","layer":"bankpulse"},{"n":5,"claim":"md13124-2a25746e","page_group":"Chapter XVI. 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 434","rbi_char_offset":243992,"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/md13124#p126","layer":"bankpulse"}],"actions":[],"amendments":[{"id":"nt13195","title":"Reserve Bank of India (Small Finance Banks - Credit Facilities) Amendment Directions, 2025","date":"Dec 04, 2025","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13195&Mode=0","order":1,"layer":"rbi_source"},{"id":"nt13351","title":"Reserve Bank of India (Small Finance Banks – Credit Facilities) Amendment Directions, 2026 (Revised)","date":"Mar 30, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13351&Mode=0","order":2,"layer":"rbi_source"},{"id":"nt13481","title":"Reserve Bank of India (Small Finance Banks – Credit Facilities) Second   Amendment Directions, 2026","date":"Jun 10, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13481&Mode=0","order":3,"layer":"rbi_source"},{"id":"nt13527","title":"Reserve Bank of India (Small Finance Banks – Credit Facilities) Third Amendment Directions, 2026","date":"Jun 23, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13527&Mode=0","order":4,"layer":"rbi_source"},{"id":"nt13560","title":"Reserve Bank of India (Small Finance Banks – Credit Facilities) Fourth Amendment Directions, 2026","date":"Jul 15, 2026","rbi_url":"https://rbi.org.in/Scripts/NotificationUser.aspx?Id=13560&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."}