{"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. 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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/md13639.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13639","document_date":"Jul 31, 2026","read_by_bankpulse":"2026-08-21 16:24:24 UTC","text_sha256":"76d7ab4f99a692d0b7494783d965329a5d2df9b2c2cc47d79bd843a7db91fa58","word_count":8987,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":60,"points_naming_an_rbi_paragraph":60,"points_stored":60,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13639-d66e31e7","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Audit rules for banks","plain_english":"This paper sets who may audit commercial banks and for how long.","rbi_paragraph":"Para 1","rbi_char_offset":3468,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p1","layer":"bankpulse"},{"n":2,"claim":"md13639-0e747d72","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"These Directions came into effect immediately upon issuance.","rbi_paragraph":"Para 2","rbi_char_offset":3596,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"There is no gap here between issue and effect. The Directions come into effect immediately upon issuance. A bank cannot wait for a separate start date, because there is none.","anchor":"https://bankpulse.ai/rule/md13639#p2","layer":"bankpulse"},{"n":3,"claim":"md13639-56b40fce","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to every commercial bank.","rbi_paragraph":"Para 3","rbi_char_offset":3666,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p3","layer":"bankpulse"},{"n":1,"claim":"md13639-5304b9e0","page_group":"Chapter II. 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Governance and Oversight","stored_section":"WHO SHOULD ACT","heading":"Publish the appointment policy","plain_english":"A Board approved policy for appointing auditors must be put on the public website.","rbi_paragraph":"Para 10","rbi_char_offset":8830,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p8","layer":"bankpulse"},{"n":6,"claim":"md13639-fda00d6e","page_group":"Chapter II. Governance and Oversight","stored_section":"WHO SHOULD ACT","heading":"Send the firm's full details","plain_english":"Such a report goes with Board approval and the full details of the audit firm.","rbi_paragraph":"Para 8","rbi_char_offset":8416,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p9","layer":"bankpulse"},{"n":7,"claim":"md13639-20068900","page_group":"Chapter II. 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Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Fifteen thousand crore, joint audit","plain_english":"A bank of ₹15,000 crore or more must have a joint audit by at least two firms.","rbi_paragraph":"Para 11","rbi_char_offset":9400,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"Suppose a bank's assets are ₹18,000 crore at the end of the previous year. That is ₹15,000 crore or more. The statutory audit must then be a joint audit by at least two firms.","anchor":"https://bankpulse.ai/rule/md13639#p12","layer":"bankpulse"},{"n":2,"claim":"md13639-c1261d5c","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Joint auditors must be separate","plain_english":"Joint auditors must share no partners and must not be in the same network.","rbi_paragraph":"Para 11","rbi_char_offset":9776,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p13","layer":"bankpulse"},{"n":3,"claim":"md13639-2feccb07","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Not a partner elsewhere","plain_english":"Such a partner must not be a partner in another audit firm.","rbi_paragraph":"Para 15(1)","rbi_char_offset":13281,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p14","layer":"bankpulse"},{"n":4,"claim":"md13639-2991ea2b","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Not employed elsewhere","plain_english":"Such a partner must not be employed elsewhere, full time or part time.","rbi_paragraph":"Para 15(2)","rbi_char_offset":13340,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p15","layer":"bankpulse"},{"n":5,"claim":"md13639-4772e891","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Not in separate practice","plain_english":"Such a partner must not practise in his own name or otherwise be in practice.","rbi_paragraph":"Para 15(3)","rbi_char_offset":13405,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p16","layer":"bankpulse"},{"n":6,"claim":"md13639-ba46ad9c","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Merger waits two years","plain_english":"A merger of audit firms counts only after two years; a demerger counts at once.","rbi_paragraph":"Para 15(4)","rbi_char_offset":14803,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p17","layer":"bankpulse"},{"n":7,"claim":"md13639-c292aa59","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"One year for the staff","plain_english":"Professional staff must have been with the firm a year to be counted.","rbi_paragraph":"Para 15(4)","rbi_char_offset":15194,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p18","layer":"bankpulse"},{"n":8,"claim":"md13639-26c39c17","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"No debarred firm","plain_english":"A firm debarred by any government agency, the reporting authority or RBI is out.","rbi_paragraph":"Para 16(2)","rbi_char_offset":15651,"weight":"MUST KNOW","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p19","layer":"bankpulse"},{"n":9,"claim":"md13639-2dc86712","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"A director partner bars","plain_english":"If a partner is a director in a public sector bank, that firm cannot audit any such bank.","rbi_paragraph":"Para 16(4)","rbi_char_offset":16067,"weight":"MUST KNOW","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p20","layer":"bankpulse"},{"n":10,"claim":"md13639-08a1f79a","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"No concurrent auditor","plain_english":"A concurrent auditor of the bank must not be made its statutory auditor.","rbi_paragraph":"Para 19","rbi_char_offset":18847,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p21","layer":"bankpulse"},{"n":11,"claim":"md13639-653cc7f1","page_group":"Chapter III. Guidelines for Appointment","stored_section":"KEY DATES","heading":"Three continuous years","plain_english":"An auditor is appointed for a continuous term of three years, eligibility permitting.","rbi_paragraph":"Para 24","rbi_char_offset":22129,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p22","layer":"bankpulse"},{"n":12,"claim":"md13639-b4257bfc","page_group":"Chapter III. Guidelines for Appointment","stored_section":"KEY DATES","heading":"Six years out","plain_english":"After a term, a firm cannot return to the same bank for six years.","rbi_paragraph":"Para 25","rbi_char_offset":23085,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p23","layer":"bankpulse"},{"n":13,"claim":"md13639-3564a1b8","page_group":"Chapter III. Guidelines for Appointment","stored_section":"THE CORE IDEA","heading":"Part term counts as full","plain_english":"A part term also starts the six year rest; it is not a fresh chance.","rbi_paragraph":"Para 25","rbi_char_offset":23344,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p24","layer":"bankpulse"},{"n":14,"claim":"md13639-872345a6","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"No sub-contracting","plain_english":"Sharing or sub-contracting the audit to another firm in the network is not allowed.","rbi_paragraph":"Para 27","rbi_char_offset":24493,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p25","layer":"bankpulse"},{"n":15,"claim":"md13639-bfa29d5f","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Split the work first","plain_english":"Work must be split between the auditors before the audit starts, in consultation with them.","rbi_paragraph":"Para 11(3)","rbi_char_offset":9956,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p26","layer":"bankpulse"},{"n":16,"claim":"md13639-1b9f6aad","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Say the auditor agreed","plain_english":"When asking RBI's approval, the bank must state that the auditor has agreed.","rbi_paragraph":"Para 13","rbi_char_offset":11263,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p27","layer":"bankpulse"},{"n":17,"claim":"md13639-d76356b0","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Check the partner's income","plain_english":"The Board must satisfy itself that the partner earns enough from the firm to count as a full-time partner.","rbi_paragraph":"Para 15(4)","rbi_char_offset":13967,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p28","layer":"bankpulse"},{"n":18,"claim":"md13639-68a21083","page_group":"Chapter III. 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Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Go to the committee first","plain_english":"Where the management blocks the audit, the auditor must approach the audit committee.","rbi_paragraph":"Para 18","rbi_char_offset":18535,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p31","layer":"bankpulse"},{"n":21,"claim":"md13639-c8ff08ee","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"But check the clash","plain_english":"The Board must still see there is no clash of interest and the auditor stays independent.","rbi_paragraph":"Para 19","rbi_char_offset":19471,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p32","layer":"bankpulse"},{"n":22,"claim":"md13639-69c07178","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Follow the standards","plain_english":"The auditor must follow the professional standards with the highest diligence.","rbi_paragraph":"Para 22","rbi_char_offset":21508,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p33","layer":"bankpulse"},{"n":23,"claim":"md13639-334b7178","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Incoming must be unconnected","plain_english":"The incoming firm is ineligible if it is tied to the outgoing one or its network.","rbi_paragraph":"Para 27","rbi_char_offset":24621,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p34","layer":"bankpulse"},{"n":24,"claim":"md13639-38be953c","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"No shared partners on change","plain_english":"On a change of branch auditors there must be no common partners with the retiring firm.","rbi_paragraph":"Para 28","rbi_char_offset":24870,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p35","layer":"bankpulse"},{"n":25,"claim":"md13639-20cf174b","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Sister firms rest too","plain_english":"Sister and associate firms of a rested auditor must also wait out the rest period.","rbi_paragraph":"Para 28","rbi_char_offset":25136,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p36","layer":"bankpulse"},{"n":26,"claim":"md13639-d4b08869","page_group":"Chapter III. Guidelines for Appointment","stored_section":"THE CORE IDEA","heading":"Fee must fit the work","plain_english":"The fee must be reasonable and match the size, spread and complexity of the audit.","rbi_paragraph":"Para 31","rbi_char_offset":26032,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p37","layer":"bankpulse"},{"n":27,"claim":"md13639-789ce3f0","page_group":"Chapter III. Guidelines for Appointment","stored_section":"KEY DATES","heading":"Apply before 31 July","plain_english":"The application must reach RBI before 31 July of the reference year.","rbi_paragraph":"Para 32(1)","rbi_char_offset":26564,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p38","layer":"bankpulse"},{"n":28,"claim":"md13639-8db0ee41","page_group":"Chapter III. 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Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Top twenty branches","plain_english":"A public sector bank gives its top twenty branches by advances to the central auditors.","rbi_paragraph":"Para 13","rbi_char_offset":10778,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p43","layer":"bankpulse"},{"n":33,"claim":"md13639-4cd8adab","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Meet the eligibility rules","plain_english":"Only an audit firm meeting the eligibility rules may be appointed.","rbi_paragraph":"Para 15","rbi_char_offset":11897,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p44","layer":"bankpulse"},{"n":34,"claim":"md13639-2a20c828","page_group":"Chapter III. 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Guidelines for Appointment","stored_section":"THE CORE IDEA","heading":"A network counts as one","plain_english":"Firms in one network or sharing partners are treated as a single firm for allotment.","rbi_paragraph":"Para 27","rbi_char_offset":24390,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p50","layer":"bankpulse"},{"n":40,"claim":"md13639-9c012bee","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"Fee follows the statute","plain_english":"The audit fee is decided under the relevant statutory and regulatory provisions.","rbi_paragraph":"Para 30","rbi_char_offset":25818,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p51","layer":"bankpulse"},{"n":41,"claim":"md13639-d42bf757","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"RBI approves each year","plain_english":"RBI's prior approval is needed every year to appoint or reappoint the auditor.","rbi_paragraph":"Para 32(1)","rbi_char_offset":26378,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p52","layer":"bankpulse"},{"n":42,"claim":"md13639-3db76b2c","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHO SHOULD ACT","heading":"Names in order of choice","plain_english":"Shortlisted firms go before the audit committee in order of preference.","rbi_paragraph":"Para 32(3)","rbi_char_offset":27520,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p53","layer":"bankpulse"},{"n":43,"claim":"md13639-9a5ba356","page_group":"Chapter III. Guidelines for Appointment","stored_section":"WHAT CHANGES","heading":"One list, no ranking","plain_english":"RBI sends public sector banks one list of eligible firms, in no order of rank.","rbi_paragraph":"Para 32(4)","rbi_char_offset":28391,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p54","layer":"bankpulse"},{"n":1,"claim":"md13639-4682db13","page_group":"Chapter IV. Long Form Audit Report","stored_section":"WHO SHOULD ACT","heading":"Get the long form report","plain_english":"The bank must see that the long form audit report arrives on time.","rbi_paragraph":"Para 34","rbi_char_offset":31255,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p55","layer":"bankpulse"},{"n":2,"claim":"md13639-02eca2e2","page_group":"Chapter IV. Long Form Audit Report","stored_section":"WHO SHOULD ACT","heading":"Put it to the committee","plain_english":"That report goes to the audit committee with the action taken on each point.","rbi_paragraph":"Para 35","rbi_char_offset":31395,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p56","layer":"bankpulse"},{"n":3,"claim":"md13639-315468a7","page_group":"Chapter IV. Long Form Audit Report","stored_section":"WHO SHOULD ACT","heading":"Widening scope needs notice","plain_english":"Adding materially to the audit scope needs written reasons and notice to the committee.","rbi_paragraph":"Para 41","rbi_char_offset":33537,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p57","layer":"bankpulse"},{"n":4,"claim":"md13639-7e46677f","page_group":"Chapter IV. Long Form Audit Report","stored_section":"WHO SHOULD ACT","heading":"Branch auditors report upward","plain_english":"A branch auditor submits the long form report to the central auditors.","rbi_paragraph":"Para 78","rbi_char_offset":53816,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p58","layer":"bankpulse"},{"n":1,"claim":"md13639-b053e786","page_group":"Chapter V. Repeal and Other Provisions","stored_section":"THE CORE IDEA","heading":"Old repeals stand","plain_english":"Anything repealed before these Directions stays repealed.","rbi_paragraph":"Para 82","rbi_char_offset":56013,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p59","layer":"bankpulse"},{"n":2,"claim":"md13639-b6c42903","page_group":"Chapter V. Repeal and Other Provisions","stored_section":"THE CORE IDEA","heading":"These add to other law","plain_english":"These Directions add to any other law and do not cut it down.","rbi_paragraph":"Para 84","rbi_char_offset":57164,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13639#p60","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."}