{"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":"md13165","title":"Reserve Bank of India (Commercial Banks - Voluntary Amalgamation) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13165","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":"md13165","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/md13165.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13165","document_date":"November 28, 2025","read_by_bankpulse":"2026-08-21 16:15:47 UTC","text_sha256":"5d995ab91fd6e2ab88774812c5271726cefa1e4b6f07695361f6205855a0a7b2","word_count":null,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":30,"points_naming_an_rbi_paragraph":30,"points_stored":30,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13165-27e662d9","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"This rule takes effect immediately.","rbi_paragraph":"Para 2","rbi_char_offset":3031,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p1","layer":"bankpulse"},{"n":2,"claim":"md13165-f18008db","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":3113,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p2","layer":"bankpulse"},{"n":3,"claim":"md13165-d8b1cb1b","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Meaning of Commercial Banks","plain_english":"This means all banks except small finance, payment, local area and foreign banks.","rbi_paragraph":"Para 3","rbi_char_offset":3334,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p3","layer":"bankpulse"},{"n":4,"claim":"md13165-da5cdd38","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Which mergers are covered","plain_english":"These Directions cover mergers between two banks and between a bank and an SFB, LAB or payments bank.","rbi_paragraph":"Para 6","rbi_char_offset":4730,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p4","layer":"bankpulse"},{"n":5,"claim":"md13165-ff4fd0b7","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"NBFC mergers included","plain_english":"This rule also covers a merger between an NBFC and a bank.","rbi_paragraph":"Para 6(3)","rbi_char_offset":4930,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p5","layer":"bankpulse"},{"n":1,"claim":"md13165-e9576b68","page_group":"Chapter II. Approval by Board of Directors and Shareholders","stored_section":"WHAT CHANGES","heading":"Two-thirds board approval","plain_english":"Two-thirds of all board members, not just those present, must approve the merger.","rbi_paragraph":"Para 7","rbi_char_offset":5096,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p6","layer":"bankpulse"},{"n":2,"claim":"md13165-260f0fad","page_group":"Chapter II. 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Approval by Board of Directors and Shareholders","stored_section":"WHO SHOULD ACT","heading":"Due diligence first","plain_english":"The board must consider whether due diligence was done on the amalgamated entity.","rbi_paragraph":"Para 8","rbi_char_offset":5668,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p8","layer":"bankpulse"},{"n":4,"claim":"md13165-b9f632ce","page_group":"Chapter II. Approval by Board of Directors and Shareholders","stored_section":"WHO SHOULD ACT","heading":"Independent valuers fix swap","plain_english":"The board must check that independent and competent valuers set a fair swap ratio.","rbi_paragraph":"Para 8","rbi_char_offset":6142,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p9","layer":"bankpulse"},{"n":5,"claim":"md13165-1dfdfde3","page_group":"Chapter II. 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Approval by Board of Directors and Shareholders","stored_section":"WHAT CHANGES","heading":"Violations fixed first","plain_english":"The bank's board must fix any NBFC rule violations before approving the merger.","rbi_paragraph":"Para 9","rbi_char_offset":7270,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p11","layer":"bankpulse"},{"n":7,"claim":"md13165-60e4d701","page_group":"Chapter II. Approval by Board of Directors and Shareholders","stored_section":"WHO SHOULD ACT","heading":"KYC done at NBFC","plain_english":"For an NBFC merger the board must check that KYC norms were met on all accounts.","rbi_paragraph":"Para 9","rbi_char_offset":7456,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p12","layer":"bankpulse"},{"n":8,"claim":"md13165-a926fc16","page_group":"Chapter II. Approval by Board of Directors and Shareholders","stored_section":"WHAT CHANGES","heading":"Shareholder approval test","plain_english":"Shareholders must approve with a majority in number holding two-thirds of the share value.","rbi_paragraph":"Para 10","rbi_char_offset":8149,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p13","layer":"bankpulse"},{"n":9,"claim":"md13165-51ea2ee2","page_group":"Chapter II. Approval by Board of Directors and Shareholders","stored_section":"WHAT CHANGES","heading":"Voting rights ceiling applies","plain_english":"The voting rights ceiling under Section 12(2) applies when a poll decides the resolution.","rbi_paragraph":"Para 10","rbi_char_offset":8277,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"A bank puts a voluntary merger resolution to its shareholders. The chair takes a poll to decide whether it has been passed. A limit on how many votes one shareholder may cast then applies. It comes from Section 12(2) of the Banking Regulation Act, 1949.","anchor":"https://bankpulse.ai/rule/md13165#p14","layer":"bankpulse"},{"n":1,"claim":"md13165-487c778f","page_group":"Chapter III. Approval or sanction by RBI","stored_section":"WHO SHOULD ACT","heading":"RBI scheme approval","plain_english":"After shareholder approval, banks must submit the scheme to RBI for approval.","rbi_paragraph":"Para 12","rbi_char_offset":8946,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p15","layer":"bankpulse"},{"n":2,"claim":"md13165-766c1f94","page_group":"Chapter III. Approval or sanction by RBI","stored_section":"WHO SHOULD ACT","heading":"PRAVAAH portal filing","plain_english":"Banks must file amalgamation documents with RBI through the PRAVAAH portal.","rbi_paragraph":"Para 13","rbi_char_offset":9546,"weight":"DO IT","role":"Technology","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p16","layer":"bankpulse"},{"n":3,"claim":"md13165-4e6c5021","page_group":"Chapter III. Approval or sanction by RBI","stored_section":"WHO SHOULD ACT","heading":"Send papers to RBI","plain_english":"Both banks must submit the information and documents specified in the Annex.","rbi_paragraph":"Para 13","rbi_char_offset":9681,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p17","layer":"bankpulse"},{"n":4,"claim":"md13165-aacaa62a","page_group":"Chapter III. 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Approval or sanction by RBI","stored_section":"WHO SHOULD ACT","heading":"NBFC merger papers differ","plain_english":"For an NBFC merger the bank submits the Annex documents, leaving out item 4.","rbi_paragraph":"Para 13","rbi_char_offset":9871,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p20","layer":"bankpulse"},{"n":1,"claim":"md13165-82ca97e2","page_group":"Chapter IV. Entitlement of dissenting shareholders","stored_section":"WHAT CHANGES","heading":"Dissenting shareholder valuation","plain_english":"RBI's valuation of a dissenting shareholder's shares is final.","rbi_paragraph":"Para 14(3)","rbi_char_offset":10381,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p21","layer":"bankpulse"},{"n":1,"claim":"md13165-1efb8e4a","page_group":"Chapter V. Norms for buying / selling of shares by promoters","stored_section":"WHAT CHANGES","heading":"SEBI insider rules","plain_english":"Listed banks must follow SEBI insider trading rules during amalgamation.","rbi_paragraph":"Para 15","rbi_char_offset":10582,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p22","layer":"bankpulse"},{"n":2,"claim":"md13165-145cb783","page_group":"Chapter V. Norms for buying / selling of shares by promoters","stored_section":"WHAT CHANGES","heading":"SEBI rules still apply","plain_english":"Even for unlisted companies, SEBI regulations should be followed in spirit where applicable.","rbi_paragraph":"Para 15","rbi_char_offset":10737,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p23","layer":"bankpulse"},{"n":1,"claim":"md13165-5972649e","page_group":"Chapter VI. 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 16","rbi_char_offset":11151,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p24","layer":"bankpulse"},{"n":2,"claim":"md13165-5b58d0f9","page_group":"Chapter VI. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Earlier repeals stand","plain_english":"Rules already cancelled before this notification remain cancelled.","rbi_paragraph":"Para 16","rbi_char_offset":11224,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p25","layer":"bankpulse"},{"n":3,"claim":"md13165-8334d341","page_group":"Chapter VI. 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 16","rbi_char_offset":11283,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p26","layer":"bankpulse"},{"n":4,"claim":"md13165-7fbea917","page_group":"Chapter VI. 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 17","rbi_char_offset":11414,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p27","layer":"bankpulse"},{"n":5,"claim":"md13165-ae84b68d","page_group":"Chapter VI. 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 17","rbi_char_offset":11604,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p28","layer":"bankpulse"},{"n":6,"claim":"md13165-cb5408f8","page_group":"Chapter VI. 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 18","rbi_char_offset":12472,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p29","layer":"bankpulse"},{"n":7,"claim":"md13165-13edf821","page_group":"Chapter VI. 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 19","rbi_char_offset":12923,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13165#p30","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."}