{"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":"md13360","title":"Master Direction on Incentives for Currency Distribution and Exchange and Penalties / Penal Provisions for Bank Branches and Currency Chests for Deficiency in Rendering Customer Service and Reporting of Transactions / Balances (Updated as on May 27, 2026)","document_kind":"Master Direction","page":"https://bankpulse.ai/rule/md13360","status":"In force","importance":{"code":"FYI","label":"FOR INFORMATION","weight":"For information","why":"General RBI update: no desk rule matched — read the source if it touches your work","layer":"bankpulse_inference"},"applies_to":{"shown":"All regulated entities","class_code":"ALL","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13360","mode":"four_dates_v1","published":{"label":"Published","value":"Apr 01, 2026","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/md13360.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13360","document_date":"Apr 01, 2026","read_by_bankpulse":"2026-08-21 16:29:11 UTC","text_sha256":"6fe9414e5caeaaf44c12b687f517ef6141eb6844052ebb07c89b5fbcd9c34e8b","word_count":5631,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":32,"points_naming_an_rbi_paragraph":32,"points_stored":32,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13360-8bda4a27","page_group":"Opening paragraphs","stored_section":"WHAT IT REPLACES","heading":"Old circulars withdrawn","plain_english":"This Direction replaces every earlier circular on the same subject.","rbi_paragraph":"the covering letter, Para 2","rbi_char_offset":3604,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p1","layer":"bankpulse"},{"n":1,"claim":"md13360-4222bafa","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Applies to all banks","plain_english":"The incentive and branch-penalty rules apply to every bank.","rbi_paragraph":"Chapter I, Para 3","rbi_char_offset":6218,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p2","layer":"bankpulse"},{"n":2,"claim":"md13360-f7023fae","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"CC rules need a CC","plain_english":"The currency-chest penalty rules apply only to banks that run a chest.","rbi_paragraph":"Chapter I, Para 3","rbi_char_offset":6326,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p3","layer":"bankpulse"},{"n":3,"claim":"md13360-e0381b1c","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What this Direction covers","plain_english":"This Direction sets the incentive and penalty rules for currency chests and ATMs.","rbi_paragraph":"Chapter I, Para 1.1","rbi_char_offset":4898,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p4","layer":"bankpulse"},{"n":4,"claim":"md13360-ac8c996e","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What a currency chest is","plain_english":"RBI picks certain banks to run currency chests that store notes and coins.","rbi_paragraph":"Chapter I, Para 4.2","rbi_char_offset":6646,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p5","layer":"bankpulse"},{"n":5,"claim":"md13360-abe6ed6d","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What counts as mutilated","plain_english":"A mutilated note is missing a part or is made of more than two pieces.","rbi_paragraph":"Chapter I, Para 4.7","rbi_char_offset":8078,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p6","layer":"bankpulse"},{"n":6,"claim":"md13360-afec01db","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What counts as imperfect","plain_english":"An imperfect note is damaged, faded or altered, but is not a mutilated note.","rbi_paragraph":"Chapter I, Para 4.8","rbi_char_offset":8205,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p7","layer":"bankpulse"},{"n":1,"claim":"md13360-8e029408","page_group":"Chapter II. Scheme of Incentives","stored_section":"WHAT CHANGES","heading":"Capital cost reimbursed, capped","plain_english":"Opening a chest in the North-East or hill areas gets back up to 100% of cost, capped at ₹50 lakh.","rbi_paragraph":"Chapter II, Para 1 (incentive table)","rbi_char_offset":9210,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"RBI's own example: a bank claimed ₹75 lakh for opening a chest. Reimbursement is 100% of that, but capped at ₹50 lakh, so RBI pays back ₹50 lakh, not the full ₹75 lakh.","anchor":"https://bankpulse.ai/rule/md13360#p8","layer":"bankpulse"},{"n":2,"claim":"md13360-7af60727","page_group":"Chapter II. Scheme of Incentives","stored_section":"WHAT CHANGES","heading":"Running costs reimbursed too","plain_english":"Running costs for a new chest get 50% back for the first 5 years.","rbi_paragraph":"Chapter II, Para 1 (incentive table)","rbi_char_offset":9352,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p9","layer":"bankpulse"},{"n":3,"claim":"md13360-036d042d","page_group":"Chapter II. Scheme of Incentives","stored_section":"WHAT CHANGES","heading":"Paid for exchanging soiled notes","plain_english":"Exchanging soiled notes of ₹50 or less earns the branch ₹2 per packet.","rbi_paragraph":"Chapter II, Para 1 (incentive table)","rbi_char_offset":9717,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p10","layer":"bankpulse"},{"n":4,"claim":"md13360-5f217563","page_group":"Chapter II. Scheme of Incentives","stored_section":"WHAT CHANGES","heading":"Paid for fixing mutilated notes","plain_english":"Fixing a mutilated note earns the branch ₹2 per piece.","rbi_paragraph":"Chapter II, Para 1 (incentive table)","rbi_char_offset":9833,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p11","layer":"bankpulse"},{"n":5,"claim":"md13360-411d06ab","page_group":"Chapter II. Scheme of Incentives","stored_section":"WHAT CHANGES","heading":"Extra pay for rural coins","plain_english":"Rural and semi-urban coin distribution earns ₹10 extra per bag, with an auditor's certificate.","rbi_paragraph":"Chapter II, Para 1 (incentive table)","rbi_char_offset":9958,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p12","layer":"bankpulse"},{"n":6,"claim":"md13360-7d2db822","page_group":"Chapter II. Scheme of Incentives","stored_section":"WHO SHOULD ACT","heading":"Branch must pass on incentive","plain_english":"The chest branch must share its incentive with linked branches, in proportion to their work.","rbi_paragraph":"Chapter II, Para 2.4","rbi_char_offset":10880,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p13","layer":"bankpulse"},{"n":1,"claim":"md13360-65f040ed","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Poor service can cost lakhs","plain_english":"More than 5 poor-service cases at a branch in a year costs ₹5 lakh.","rbi_paragraph":"Chapter III, Para 1.1","rbi_char_offset":13143,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p14","layer":"bankpulse"},{"n":2,"claim":"md13360-aa6eb880","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Fake notes cost ten thousand","plain_english":"Each fake note found in an ATM or over the counter costs the bank ₹10,000.","rbi_paragraph":"Chapter III, Para 1.2","rbi_char_offset":13510,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p15","layer":"bankpulse"},{"n":3,"claim":"md13360-2ef69635","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Empty ATM ten hours penalty","plain_english":"An ATM empty for more than ten hours in a month costs ₹10,000.","rbi_paragraph":"Chapter III, Para 2.1","rbi_char_offset":14076,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p16","layer":"bankpulse"},{"n":4,"claim":"md13360-824ce62c","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Missing small notes cost double","plain_english":"A missing note of ₹50 or less costs ₹50 per piece, on top of the loss.","rbi_paragraph":"Chapter III, Para 3.1","rbi_char_offset":14907,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p17","layer":"bankpulse"},{"n":5,"claim":"md13360-4cd75a46","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Missing coins cost full value","plain_english":"A missing coin of any value costs its full value, on top of the loss.","rbi_paragraph":"Chapter III, Para 3.1","rbi_char_offset":15104,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p18","layer":"bankpulse"},{"n":6,"claim":"md13360-cdf125d6","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Cut notes cost fifty rupees","plain_english":"A cut or built-up note costs ₹50 per piece, on top of the loss, whatever its value.","rbi_paragraph":"Chapter III, Para 3.4","rbi_char_offset":16955,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p19","layer":"bankpulse"},{"n":7,"claim":"md13360-b8517a4b","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Repeat CCTV lapse doubles fine","plain_english":"A repeat CCTV or audit lapse raises the fine to ₹10,000.","rbi_paragraph":"Chapter III, Para 3.5","rbi_char_offset":17992,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p20","layer":"bankpulse"},{"n":8,"claim":"md13360-1a02f21d","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Breaking MoA terms costs lakhs","plain_english":"More than 5 broken agreement terms by a chest in a row costs ₹5 lakh.","rbi_paragraph":"Chapter III, Para 3.6","rbi_char_offset":18522,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p21","layer":"bankpulse"},{"n":9,"claim":"md13360-c95e8b4f","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Minimum chest deposit fifty thousand","plain_english":"Chest deposits and withdrawals start at ₹50,000, then move in steps of ₹10,000.","rbi_paragraph":"Chapter IV, Para 1.1","rbi_char_offset":19022,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p22","layer":"bankpulse"},{"n":10,"claim":"md13360-8b5ba8e4","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Late reporting costs two percent","plain_english":"Late or wrong reporting draws interest at 2% above RBI's Bank Rate.","rbi_paragraph":"Chapter IV, Para 2.2","rbi_char_offset":22745,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p23","layer":"bankpulse"},{"n":11,"claim":"md13360-bea13624","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHAT CHANGES","heading":"Wrong reporting is flat penalty","plain_english":"Wrongly typed transaction reports draw a flat ₹50,000 penalty.","rbi_paragraph":"Chapter IV, Para 3.3","rbi_char_offset":24161,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p24","layer":"bankpulse"},{"n":12,"claim":"md13360-271f2c51","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHO SHOULD ACT","heading":"Bank must report ATM downtime","plain_english":"Banks and ATM operators must send RBI a monthly downtime report for cash-out ATMs.","rbi_paragraph":"Chapter III, Para 2.1","rbi_char_offset":14267,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p25","layer":"bankpulse"},{"n":13,"claim":"md13360-800413d9","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHO SHOULD ACT","heading":"Same-day reporting by seven pm","plain_english":"Chests must report every transaction on the CyM-CC portal the same day by 7 pm.","rbi_paragraph":"Chapter IV, Para 1.2","rbi_char_offset":19163,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p26","layer":"bankpulse"},{"n":14,"claim":"md13360-908e6af0","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHO IT APPLIES TO","heading":"Rule reaches ATM operators too","plain_english":"This fake-note penalty also covers White Label ATM Operators.","rbi_paragraph":"Chapter III, Para 1.2","rbi_char_offset":13748,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p27","layer":"bankpulse"},{"n":15,"claim":"md13360-a2a01856","page_group":"Chapter III. Penalties for deficiency in rendering customer service","stored_section":"WHO IT APPLIES TO","heading":"White label ATMs covered too","plain_english":"This cash-out penalty also covers White Label ATM Operators.","rbi_paragraph":"Chapter III, Para 2.1","rbi_char_offset":14181,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p28","layer":"bankpulse"},{"n":1,"claim":"md13360-99f3bede","page_group":"Chapter V. Operational Guidelines on Levy of Penalty/ Penal Interest","stored_section":"WHO SHOULD ACT","heading":"One month to appeal","plain_english":"An appeal must be filed within one month of the penalty.","rbi_paragraph":"Chapter V, Para 2","rbi_char_offset":24838,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p29","layer":"bankpulse"},{"n":2,"claim":"md13360-05cb36e4","page_group":"Chapter V. Operational Guidelines on Levy of Penalty/ Penal Interest","stored_section":"BACKGROUND","heading":"Staff inexperience is no excuse","plain_english":"New or untrained staff is not a valid reason to waive a penalty.","rbi_paragraph":"Chapter V, Para 3.1","rbi_char_offset":25103,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p30","layer":"bankpulse"},{"n":3,"claim":"md13360-6d7f3334","page_group":"Chapter V. Operational Guidelines on Levy of Penalty/ Penal Interest","stored_section":"BACKGROUND","heading":"Clerical error is no excuse","plain_english":"A clerical or typing mistake is not a valid reason either.","rbi_paragraph":"Chapter V, Para 3.5","rbi_char_offset":26699,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p31","layer":"bankpulse"},{"n":4,"claim":"md13360-ce214187","page_group":"Chapter V. Operational Guidelines on Levy of Penalty/ Penal Interest","stored_section":"BACKGROUND","heading":"Genuine hardship can get hearing","plain_english":"A genuine reason, like a lockdown or strike, can still get a hearing.","rbi_paragraph":"Chapter V, Para 3.6","rbi_char_offset":26834,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13360#p32","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."}