{"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":"md13158","title":"Reserve Bank of India (Commercial Banks – Resource Raising Norms) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13158","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":"md13158","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":"","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/md13158.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13158","document_date":"November 28, 2025","read_by_bankpulse":"2026-08-21 16:15:35 UTC","text_sha256":"75303a662b2ae173f43556dd9ca8f3dd556839f25c9414758fb2c04c6d718953","word_count":null,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":28,"points_naming_an_rbi_paragraph":28,"points_stored":28,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13158-7b4fc1dc","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"These Directions took effect the day RBI placed them on its official website.","rbi_paragraph":"Para 2","rbi_char_offset":2748,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p1","layer":"bankpulse"},{"n":2,"claim":"md13158-da70bd51","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":2881,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p2","layer":"bankpulse"},{"n":3,"claim":"md13158-cb22de3c","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is a commercial bank","plain_english":"Commercial bank here means banking companies, corresponding new banks and the State Bank of India.","rbi_paragraph":"Para 3","rbi_char_offset":3145,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p3","layer":"bankpulse"},{"n":1,"claim":"md13158-1ffa6680","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Seven-year bond floor","plain_english":"A long-term bond raised for these purposes must run for at least seven years.","rbi_paragraph":"Para 4","rbi_char_offset":3428,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p4","layer":"bankpulse"},{"n":2,"claim":"md13158-fea2b573","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Seven year minimum","plain_english":"The bonds must have a minimum maturity period of seven years.","rbi_paragraph":"Para 5(4)","rbi_char_offset":4505,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A bank issues long term bonds to fund lending to infrastructure projects. The bonds must have a minimum maturity period of seven years. A five year bond does not qualify.","anchor":"https://bankpulse.ai/rule/md13158#p5","layer":"bankpulse"},{"n":3,"claim":"md13158-533e9b36","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Non-SLR holding cap","plain_english":"A bank's total holding of these bonds cannot exceed 10% of its Non-SLR investments.","rbi_paragraph":"Para 7(4)","rbi_char_offset":8611,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p6","layer":"bankpulse"},{"n":4,"claim":"md13158-b0b159a2","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"20 percent bank-sale cap","plain_english":"No more than 20% of a bond issue's size can be sold to other banks.","rbi_paragraph":"Para 7(5)","rbi_char_offset":8732,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p7","layer":"bankpulse"},{"n":5,"claim":"md13158-de454310","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"No own-bond holding","plain_english":"A bank cannot hold its own bonds.","rbi_paragraph":"Para 7(6)","rbi_char_offset":8834,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p8","layer":"bankpulse"},{"n":6,"claim":"md13158-09010550","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Fully paid and unsecured","plain_english":"The instrument must be fully paid, redeemable and unsecured.","rbi_paragraph":"Para 5(2)","rbi_char_offset":4280,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p9","layer":"bankpulse"},{"n":7,"claim":"md13158-abff57ef","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Plain vanilla only","plain_english":"The bonds must be plain vanilla, with no embedded call or put option.","rbi_paragraph":"Para 5(6)","rbi_char_offset":5042,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p10","layer":"bankpulse"},{"n":8,"claim":"md13158-1d61f626","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Floating rate benchmark","plain_english":"A floating rate bond must be referenced to a market determined benchmark.","rbi_paragraph":"Para 5(7)","rbi_char_offset":5228,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p11","layer":"bankpulse"},{"n":9,"claim":"md13158-f72d2561","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHO SHOULD ACT","heading":"Comply with all laws","plain_english":"A bank issuing long-term bonds must meet every relevant statutory and regulatory requirement.","rbi_paragraph":"Para 5(10)","rbi_char_offset":5751,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p12","layer":"bankpulse"},{"n":10,"claim":"md13158-d3582ad1","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHO SHOULD ACT","heading":"FEMA compliance","plain_english":"A bank must follow FEMA rules wherever they apply.","rbi_paragraph":"Para 8(1)","rbi_char_offset":9059,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p13","layer":"bankpulse"},{"n":11,"claim":"md13158-77fec118","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Incentives on infra bonds","plain_english":"Incentives on reserve and priority sector obligations apply to qualifying long-term bond issues.","rbi_paragraph":"Para 5(1)","rbi_char_offset":4017,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p14","layer":"bankpulse"},{"n":12,"claim":"md13158-88c8b3b5","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Ranks with other creditors","plain_english":"The bonds rank equally with other uninsured and unsecured creditors.","rbi_paragraph":"Para 5(2)","rbi_char_offset":4342,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p15","layer":"bankpulse"},{"n":13,"claim":"md13158-87472847","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"No cap on quantum","plain_english":"There is no limit on how many such bonds a bank may issue.","rbi_paragraph":"Para 5(5)","rbi_char_offset":4590,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p16","layer":"bankpulse"},{"n":14,"claim":"md13158-19778518","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Incentive only for infrastructure","plain_english":"The regulatory incentive covers only bonds funding fresh long-term infrastructure projects.","rbi_paragraph":"Para 5(5)","rbi_char_offset":4667,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["infrastructure-finance"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p17","layer":"bankpulse"},{"n":15,"claim":"md13158-06d02fc5","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHO SHOULD ACT","heading":"Bought loans need approval","plain_english":"Infrastructure and housing loans bought from others need prior Reserve Bank approval to count.","rbi_paragraph":"Para 5(5)","rbi_char_offset":4824,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":["housing-loan"],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p18","layer":"bankpulse"},{"n":16,"claim":"md13158-4395b626","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"No deposit insurance","plain_english":"These long-term bonds are not eligible for deposit insurance.","rbi_paragraph":"Para 5(9)","rbi_char_offset":5662,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p19","layer":"bankpulse"},{"n":17,"claim":"md13158-655e4cec","page_group":"Chapter II. Issue of Long-Term Bonds for Financing Infrastructure Sub-Sectors","stored_section":"WHAT CHANGES","heading":"Cross-holding caps","plain_english":"A bank's investment in another bank's bonds is capped at 2% of its Tier 1 Capital or 5% of issue size.","rbi_paragraph":"Para 7(3)","rbi_char_offset":8416,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p20","layer":"bankpulse"},{"n":1,"claim":"md13158-809f82fb","page_group":"Chapter III. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Older rules repealed","plain_english":"These Directions repeal earlier Resource Raising rules for commercial banks, announced in a November 28, 2025 circular.","rbi_paragraph":"Para 9","rbi_char_offset":9525,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p21","layer":"bankpulse"},{"n":2,"claim":"md13158-5972649e","page_group":"Chapter III. 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 9","rbi_char_offset":9709,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p22","layer":"bankpulse"},{"n":3,"claim":"md13158-5b58d0f9","page_group":"Chapter III. 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 9","rbi_char_offset":9782,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p23","layer":"bankpulse"},{"n":4,"claim":"md13158-8334d341","page_group":"Chapter III. 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 9","rbi_char_offset":9840,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p24","layer":"bankpulse"},{"n":5,"claim":"md13158-7fbea917","page_group":"Chapter III. 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 10","rbi_char_offset":9971,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p25","layer":"bankpulse"},{"n":6,"claim":"md13158-ae84b68d","page_group":"Chapter III. 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 10","rbi_char_offset":10161,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p26","layer":"bankpulse"},{"n":7,"claim":"md13158-cb5408f8","page_group":"Chapter III. 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 11","rbi_char_offset":11029,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p27","layer":"bankpulse"},{"n":8,"claim":"md13158-4bb37a7e","page_group":"Chapter III. 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 12","rbi_char_offset":11489,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13158#p28","layer":"bankpulse"}],"actions":[],"amendments":[],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}