{"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":"md13149","title":"Reserve Bank of India (Commercial Banks – Interest Rates on Advances) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13149","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":"Commercial banks","class_code":"SCB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13149","mode":"four_dates_v1","published":{"label":"Published","value":"November 28, 2025","stated":true,"why":"The day RBI put this document out."},"effective":{"label":"Starts to apply","value":"April 1, 2016","stated":true,"why":"The day this rule starts to apply, as RBI's own text states it."},"transition":{"label":"Time to get ready","value":"None","stated":true,"why":"The start date RBI gave is before the day this document was published."},"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/md13149.json","effective":"data/date_kinds.json kind=effective_date","transition":"worked out from published and starts-to-apply","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13149","document_date":"November 28, 2025","read_by_bankpulse":"2026-08-21 16:15:19 UTC","text_sha256":"3610ed96b55b4df484648a90143d17f95d9f1c98dba6d30cf56414c799786cd0","word_count":null,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":27,"points_naming_an_rbi_paragraph":27,"points_stored":27,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13149-1897bb38","page_group":"Chapter I. 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There was no grace period.","rbi_paragraph":"Para 2","rbi_char_offset":2770,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p2","layer":"bankpulse"},{"n":3,"claim":"md13149-914b06f1","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"This rule applies to commercial banks, called 'banks' here.","rbi_paragraph":"Para 3","rbi_char_offset":2835,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p3","layer":"bankpulse"},{"n":4,"claim":"md13149-b96bc7ef","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Meaning of Commercial Banks","plain_english":"Commercial Banks here means normal banks and SBI, not Small Finance or Payment Banks.","rbi_paragraph":"Para 3","rbi_char_offset":3014,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"The word banks on this page has a narrow meaning. It covers banking companies, the corresponding new banks and the State Bank of India. It leaves out small finance banks, payment banks and local area banks.","anchor":"https://bankpulse.ai/rule/md13149#p4","layer":"bankpulse"},{"n":5,"claim":"md13149-3f7f1d66","page_group":"Chapter I. 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General guidelines","stored_section":"WHO SHOULD ACT","heading":"Board-approved deposit policy","plain_english":"The Board of Directors must approve the bank's policy on deposit interest rates.","rbi_paragraph":"Para 6(1)","rbi_char_offset":5703,"weight":"DO IT","role":"Board","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p7","layer":"bankpulse"},{"n":3,"claim":"md13149-e278c60e","page_group":"Chapter II. General guidelines","stored_section":"WHAT CHANGES","heading":"Monthly interest charging","plain_english":"Banks must charge interest on all advances every month, not less often.","rbi_paragraph":"Para 6(7)","rbi_char_offset":6696,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p8","layer":"bankpulse"},{"n":4,"claim":"md13149-4e6284b7","page_group":"Chapter II. General guidelines","stored_section":"WHO SHOULD ACT","heading":"Microfinance pricing policy","plain_english":"The Board must approve a separate policy on how microfinance loans are priced.","rbi_paragraph":"Para 8","rbi_char_offset":8535,"weight":"DO IT","role":"Board","team":null,"products_covered":["microfinance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p9","layer":"bankpulse"},{"n":5,"claim":"md13149-4e56529c","page_group":"Chapter II. General guidelines","stored_section":"WHO IT APPLIES TO","heading":"FCNR(B) loans included","plain_english":"The interest rate rules also apply to loans given against FCNR(B) deposits.","rbi_paragraph":"Para 7","rbi_char_offset":8306,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p10","layer":"bankpulse"},{"n":1,"claim":"md13149-1c9ec9bc","page_group":"Chapter III. Benchmark","stored_section":"WHAT CHANGES","heading":"The 30 per cent rule","plain_english":"The MCLR tenor follows the single largest maturity bucket holding more than 30 per cent of the funds.","rbi_paragraph":"Para 22(1)","rbi_char_offset":12299,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p11","layer":"bankpulse"},{"n":2,"claim":"md13149-5c66fa79","page_group":"Chapter III. Benchmark","stored_section":"WHAT CHANGES","heading":"When no bucket dominates","plain_english":"If no bucket crosses 30 per cent, the tenor follows the weighted average of the largest buckets together crossing it.","rbi_paragraph":"Para 22(2)","rbi_char_offset":12479,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p12","layer":"bankpulse"},{"n":3,"claim":"md13149-7d1a56d1","page_group":"Chapter III. Benchmark","stored_section":"WHO SHOULD ACT","heading":"Monthly MCLR publication","plain_english":"The Board must review and publish the bank's MCLR every month.","rbi_paragraph":"Para 24","rbi_char_offset":14131,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p13","layer":"bankpulse"},{"n":4,"claim":"md13149-1ddbfa20","page_group":"Chapter III. Benchmark","stored_section":"WHAT CHANGES","heading":"External benchmark loans","plain_english":"Floating rate home, auto and MSME loans must be linked to an External Benchmark Rate.","rbi_paragraph":"Para 25","rbi_char_offset":14351,"weight":"DO IT","role":"All staff","team":null,"products_covered":["msme-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p14","layer":"bankpulse"},{"n":5,"claim":"md13149-f8f110b8","page_group":"Chapter III. Benchmark","stored_section":"WHAT CHANGES","heading":"One benchmark per category","plain_english":"A bank must use only one external benchmark within each loan category.","rbi_paragraph":"Para 27","rbi_char_offset":14768,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p15","layer":"bankpulse"},{"n":6,"claim":"md13149-481fdbe8","page_group":"Chapter III. Benchmark","stored_section":"KEY DATES","heading":"Base Rate era","plain_english":"Base Rate was the benchmark for loans made between July 2010 and March 2016.","rbi_paragraph":"Para 10","rbi_char_offset":9351,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p16","layer":"bankpulse"},{"n":1,"claim":"md13149-a34ca114","page_group":"Chapter IV. Other aspects of lending rates","stored_section":"WHAT CHANGES","heading":"Risk premium protection","plain_english":"A bank cannot raise an existing borrower's risk premium without a real reason.","rbi_paragraph":"Para 31","rbi_char_offset":16990,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p17","layer":"bankpulse"},{"n":2,"claim":"md13149-0002f76a","page_group":"Chapter IV. Other aspects of lending rates","stored_section":"WHAT CHANGES","heading":"No negative spread","plain_english":"The spread components a bank charges a borrower cannot be negative.","rbi_paragraph":"Para 32","rbi_char_offset":17447,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p18","layer":"bankpulse"},{"n":3,"claim":"md13149-56497918","page_group":"Chapter IV. Other aspects of lending rates","stored_section":"KEY DATES","heading":"Three-month reset rule","plain_english":"Interest rates linked to an external benchmark must reset at least once every three months.","rbi_paragraph":"Para 38","rbi_char_offset":19162,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p19","layer":"bankpulse"},{"n":4,"claim":"md13149-b7fe9575","page_group":"Chapter IV. Other aspects of lending rates","stored_section":"WHAT CHANGES","heading":"Yearly MCLR reset","plain_english":"Banks must reset floating loan rates under MCLR once a year or sooner.","rbi_paragraph":"Para 36","rbi_char_offset":18843,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p20","layer":"bankpulse"},{"n":1,"claim":"md13149-5972649e","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Older rules cancelled","plain_english":"This document cancels the earlier conduct rules for these institutions.","rbi_paragraph":"Para 46","rbi_char_offset":24001,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p21","layer":"bankpulse"},{"n":2,"claim":"md13149-5b58d0f9","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Earlier repeals stand","plain_english":"Guidelines already repealed before these Directions stay repealed.","rbi_paragraph":"Para 46","rbi_char_offset":24074,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p22","layer":"bankpulse"},{"n":3,"claim":"md13149-8334d341","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old rules stay repealed","plain_english":"Rules repealed before this document was issued remain repealed.","rbi_paragraph":"Para 46","rbi_char_offset":24132,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p23","layer":"bankpulse"},{"n":4,"claim":"md13149-7fbea917","page_group":"Chapter VII. 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 47","rbi_char_offset":24263,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p24","layer":"bankpulse"},{"n":5,"claim":"md13149-ae84b68d","page_group":"Chapter VII. 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 47","rbi_char_offset":24453,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p25","layer":"bankpulse"},{"n":6,"claim":"md13149-cb5408f8","page_group":"Chapter VII. 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 48","rbi_char_offset":25321,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p26","layer":"bankpulse"},{"n":7,"claim":"md13149-13edf821","page_group":"Chapter VII. Repeal and Other Provisions","stored_section":"WHO SHOULD ACT","heading":"RBI's reading final","plain_english":"RBI's interpretation of any part of these Directions is final and binding.","rbi_paragraph":"Para 49","rbi_char_offset":25772,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13149#p27","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. 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