| S. No |
Information sought |
Reply |
Date of reply |
| 1 |
Please give details regarding guidelines issued by RBI on regulation of digital lending activities of its regulated entities. |
Applicant may refer to Reserve Bank of India (Digital Lending) Directions dated May 8, 2025, available on www.rbi.org.in under the head “Notifications”.
Further, for list of Digital Lending Apps deployed by banks/ NBFCs regulated by RBI, the applicant may visit www.rbi.org.in (Citizen’s Corner -> DLA’s deployed by Regulated Entities) |
September 26, 2025 |
| 2 |
Please provide details of guidelines issued on NPA/ Asset classification applicable to Scheduled Commercial Banks (SCBs) |
Applicant may refer to Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated April 1, 2025, available on www.rbi.org.in under ‘Notifications’. |
September 26, 2025 |
| 3 |
Please provide details of guidelines issued on NPA/ Asset classification applicable to Urban Cooperative Banks (UCBs) |
Applicant may refer to Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated April 1, 2025, available on www.rbi.org.in under ‘Notifications’. |
September 26, 2025 |
| 4 |
Please provide details of guidelines issued on NPA/Asset classification applicable to NBFCs (including Housing Finance Companies HFCs). |
Applicant may refer to:
|
September 26, 2025 |
| 5 |
Please provide details of Regulations regarding OTS schemes for Individuals |
Applicant may refer to:
|
September 26, 2025 |
| 6 |
Please give details of RBI guidelines or circular for banks regarding restructuring/modification of loans. |
Applicant may refer to circular on ‘Prudential Framework for Resolution of Stressed Assets’ dated June 7, 2019, available on www.rbi.org.in under ‘Notifications’.
For urban cooperative banks, the applicant may refer to Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated April 01, 2025, available on www.rbi.org.in under ‘Notifications’. |
September 26, 2025 |
| 7 |
Information on Special Mention Account (SMA) related norms for bank loans. |
For commercial banks, the applicant may refer to Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated April 1, 2025, available on www.rbi.org.in under ‘Notifications’.
For urban cooperative banks, the applicant may refer to Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs dated April 01, 2025, available on www.rbi.org.in under ‘Notifications’. |
September 26, 2025 |
| 8 |
What are the guidelines issued with regard to Bank Guarantees |
Applicant may refer to Reserve Bank of India (Non-Fund Based Credit Facilities) Directions, 2025 dated August 06, 2025, available on www.rbi.org.in under ‘Notifications’. |
September 26, 2025 |
| 9 |
Is it mandatory to take insurance while availing any loan product from a bank? |
Applicant may refer to Paras 18(d) (i), (v) and (vi) of “Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016” dated May 26, 2016, available on www.rbi.org.in under ‘Notifications’. |
September 26, 2025 |
| 10 |
Whether the ATM card gives an insurance cover to the account holder in case of accidental death? |
Applicant may refer to Para 23(j) on “General Conditions” and Query 13 of Appendix of Master Direction on “Credit Card and Debit Card –Issuance and Conduct Directions, 2022”, dated April 21, 2022, available on www.rbi.org.in under “Notifications”. |
September 26, 2025 |
| 11 |
What are the measures taken by RBI to control credit card frauds? |
Applicant may refer to Para 5(b), Para 6(b)(v), Para 10(b), Para 10(c), Para 23(f) and Para 24(h) of the Master Direction-Credit Card and Debit Card – Issuance and Conduct Directions, 2022 dated April 21, 2022, available on www.rbi.org.in under “Notifications”. |
September 26, 2025 |
| 12 |
What are the guidelines on interest rate and other charges pertain to credit card? |
Applicant may refer to Para 9 on Interest Rates and other charges and Para 24(c) of the Master Direction-Credit Card and Debit Card – Issuance and Conduct Directions, 2022 dated April 21, 2022, available on www.rbi.org.in under “Notifications”. |
September 26, 2025 |
| 13 |
Are bank staff allowed to sell insurance products in branches? What are the guidelines issued in this regard? |
Applicant may refer to Para 18(d) of “Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016” dated May 26, 2016, available on www.rbi.org.in under “Notifications”. |
September 26, 2025 |
| 14 |
Can a bank issue credit card or increase the credit limit of a credit card, without customer consent? |
Applicant may refer to Paras 6(a)(iv), 6(a)(vi), 6(a)(viii), 11(b) and Query 10 of the Appendix (FAQs) of Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022” dated April 21, 2022, available on www.rbi.org.in under “Notifications”. |
September 26, 2025 |
| 15 |
Is it compulsory to obtain debit card from banks? |
Applicant may refer Para 14(d) of the Master Direction - Credit Card and Debit Card – Issuance and Conduct Directions, 2022 dated April 21, 2022, available on www.rbi.org.in under “Notifications”. |
September 26, 2025 |
| 16 |
Name and Number of nominated banks permitted by RBI to import gold for this financial year |
Banks Authorised to Import Gold/Silver for FY 2024-25 2025-26 is available on, www.rbi.org.in → Function wise Sites->Consumer Education and Protection -> For Common Person -> Useful Information -> Financial Agents -> Banks importing gold and silver |
September 26, 2025 |
| 17 |
List of Mandatory OVDs required for opening a bank account. |
Applicant may refer paragraph 3(a)(xiv) on ‘Officially Valid Document’ of ‘Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 18 |
The address on my OVD is not the current address. What are the instructions regarding current address for bank accounts? |
Applicant may refer paragraph 3(a)(xiv) and paragraph 16 of ‘Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 19 |
I have already undertaken KYC while opening bank account a few years ago. Why banks are still insisting for re-KYC? |
Applicant may refer paragraph 38 of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 20 |
What are the duties and responsibilities of a bank to maintain secrecy of customers' bank accounts and its transactions? |
Applicant may refer paragraph 55 of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 21 |
If a person does not have an account in a bank, whether KYC is required for transactions amounting rupees 50,000 and above? |
Applicant may refer paragraph 13(e) and paragraph 13(f) of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 22 |
I want to open a joint account in a bank. Whether KYC is required to be done for the first account holder only or for all the account holders? |
Applicant may refer paragraph 10(g) of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 23 |
Which KYC documents are required to open a bank account in case of proprietorship firms, companies, partnership firms, trusts? |
Applicant may refer Part II and Part III of Chapter VI of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 24 |
What is the time limit for payment of cheques / drafts /pay orders / banker’s cheques issued by the banks. |
Applicant may refer paragraph 58 of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 25 |
Is PAN card compulsory for opening a bank account? |
Applicant may refer paragraph 16(b) and paragraph 66 of Master Direction - Know Your Customer (KYC) Direction, 2016’ dated February 25, 2016, (Updated as on August 14, 2025) available on www.rbi.org.in under “Notifications -> Master Directions -> Commercial Banking”. |
September 25, 2025 |
| 26 |
Provide necessary document containing the number of days within which the documents submitted by the borrower should be returned to him/her by the concerned management after the closure of personal loan availed by them. |
Applicant may refer Circular on ‘Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans’ dated September 13, 2023, available on www.rbi.org.in under ‘Notifications’. Applicant may also refer Para 9 on ‘Applicability’ of the Circular. |
September 19, 2025 |
| 27 |
Whether I am entitled to conversion of floating interest rate to fixed interest rate for housing loan in scheduled commercial banks legally or not? Please inform to me as early as possible. |
Applicant may refer to:
a) Para 2.5 of ‘Master Circular- Loans and Advances – Statutory and Other Restrictions’ dated July 1, 2015, available on www.rbi.org.in under the head “Notifications”.
b) Circular on “Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans”, dated August 18, 2023, available on www.rbi.org.in under “Notifications”. |
September 19, 2025 |
| 28 |
What are the current guidelines regarding the imposition of penal charges by banks and NBFCs on loans provided to small service providers and traders? |
Applicant may refer Circular on ‘Fair Lending Practice - Penal Charges in Loan Accounts’ dated August 18, 2023, and Circular on ‘Fair Lending Practice - Penal Charges in Loan Accounts: Extension of Timeline for Implementation of Instructions’ dated December 29, 2023, available on www.rbi.org.in under ‘Notifications’. |
September 19, 2025 |
| 29 |
Procedure and application process for getting NBFC license for a company |
You may refer Press Release on "RBI decides to simplify and rationalise the process of registration of new NBFCs” dated June 17, 2016, available on www.rbi.org.in under “Press Releases”. |
September 26, 2025 |
| 30 |
RBI guidelines on merger/ amalgamation of Private Sector Banks, Urban co-operative banks (UCBs), District Central Co-operative Banks (DCCBs) with the State Co-operative Bank (StCB)? |
Applicant may refer:
- Master Direction – Amalgamation of Private Sector Banks, Directions, 2016 dated April 21, 2016, available on www.rbi.org.in under “Notifications”.
- Master Direction - Amalgamation of Urban Cooperative Banks, Directions, 2020 dated March 23, 2021, available on www.rbi.org.in under “Notifications”.
- Circular on ‘Amalgamation of District Central Co-operative Banks (DCCBs) with the State Co-operative Bank (StCB) – Guidelines’ dated May 24, 2021, available on www.rbi.org.in under “Notifications”.
|
October 06, 2025 |
| 31 |
Does Reserve Bank of India (RBI) regulate credit societies in India? |
Reserve Bank of India (RBI) does not regulate cooperative societies. However, RBI regulates co-operative banks licensed under section 22 read with section 56 of Banking Regulation Act, 1949 to carry out banking business in India. |
September 29, 2025 |
| 32 |
Information on FD Interest Rate of Commercial Banks? |
Applicant may refer Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’ dated March 3, 2016, available on www.rbi.org.in under ‘Notifications’. |
October 13, 2025 |
| 33 |
Information on acceptance of green deposits? |
Applicant may refer Circular on “Framework for acceptance of Green Deposits” dated April 11, 2023, available on www.rbi.org.in under “Notifications”. |
September 29, 2025 |
| 34 |
What are the rules of recovery agent engaged by banks for debt recovery? |
The applicant may refer to:
a) Para 2.6 of ‘Master Circular- Loans and Advances – Statutory and Other Restrictions’ available on www.rbi.org.in under ‘Notifications’.
b) Circular on “Outsourcing of Financial Services - Responsibilities of regulated entities employing Recovery Agents” dated August 12, 2022, available on www.rbi.org.in under ‘Notifications’. |
September 19, 2025 |
| 35 |
Role/work of Bank’s Chairman / Directors in Private Sector Banks |
Applicant may refer Circular on ‘Role of Directors and Part-Time Chairman in Private Sector Banks’ dated June 14, 1996, available on:
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/Circulars%20of%20DBOD_1995-1996.PDF |
October 15, 2025 |
| 36 |
Fit and Proper criteria for Public Sector Bank (PSB) Elected Directors |
Applicant may refer ‘Master Direction - Reserve Bank of India (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019’, dated August 2, 2019, available on www.rbi.org.in under ‘Notifications’. |
October 15, 2025 |
| 37 |
RBI guidelines on remuneration, bonus etc. applicable to Private Sector Banks |
Applicant may refer Circular on ‘Guidelines on Compensation of Whole Time Directors/ Chief Executive Officers/ Material Risk Takers and Control Function staff’, dated November 04, 2019, available on www.rbi.org.in under ‘Notifications’. |
October 15, 2025 |
| 38 |
What are the guidelines on Fit and Proper Criteria for directors of NBFCs? |
Applicant may refer Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023, dated October 19, 2023, available on www.rbi.org.in under ‘Notifications’. |
October 15, 2025 |
| 39 |
Please clarify whether a director can hold directorships in two NBFCs? When in one NBFC, he is appointed as Managing Director and in other NBFC, he is appointed as Non-Executive Director. |
Applicant may refer Para 97 of Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023, dated October 19, 2023, available on www.rbi.org.in under ‘Notifications’. |
October 15, 2025 |
| 40 |
RBI guidelines/instructions on eligibility / Fit and Proper criteria for appointment and reappointment of Managing Director and Chief Executive Officer (MD&CEO), Whole Time Director (WTD) and Part-Time Chairman (PTC) in banks |
The applicant may refer to the following RBI instructions:
|
October 15, 2025 |
| 41 |
Information on Unclaimed Deposits in Commercial Banks |
The information on Unclaimed Deposits with Commercial Banks, is available on,
https://cimsdbie.rbi.org.in/DBIE/#/dbie/home-> Publication -> Statistical Tables Relating to Banks in India->Other tables->Table 35 “Unclaimed Deposits with Scheduled Commercial Banks”. |
October 15, 2025 |
| 42 |
What is the statute under which Credit Information Companies (CICs) are set up? |
RBI has, in terms of Section 5 of the Credit Information Companies (Regulation) Act, 2005 (CICRA) and the Rules and Regulations framed thereunder (available in the public domain) granted Certificate of Registration to four Credit Information Companies (CICs), as under:
1. TransUnion CIBIL Limited
2. Equifax Credit Information Services Pvt. Ltd.
3. Experian Credit Information Company of India Private Ltd.
4. CRIF High Mark Credit Information Services Pvt. Ltd. |
October 09, 2025 |
| 43 |
RBI instructions to banks/FIs/NBFCs to access credit information reports for loan disbursals? |
Applicant is informed that, in terms of para 11(1) of the Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025 dated January 06, 2025, credit institutions, shall include in their loan policies/ credit appraisal processes, suitable provisions for obtaining credit information reports (CIRs) from one or more credit information companies (CICs) so that the credit decisions are based on credit information available in the system. Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025 dated January 06, 2025 is available on www.rbi.org.in under ‘Notifications’. |
October 09, 2025 |
| 44 |
Guidelines on wilful defaulters |
Applicant may refer to the guidelines issued under the Master Direction on Treatment of Wilful Defaulters and Large Defaulters dated July 30, 2024, which consolidates the existing regulatory instructions on the said matter. Master Direction on Treatment of Wilful Defaulters and Large Defaulters dated July 30, 2024 is available on www.rbi.org.in under ‘Notifications’. |
October 09, 2025 |
| 45 |
Are there any guidelines issued by the RBI for calculating credit scores, or does each company decide the criteria on their own? |
Applicant may note that RBI has not issued any instructions/guidelines on the methodology to be adopted by Credit Information Companies (CICs) for calculating credit score. The credit scoring models used by CICs are proprietary in nature, based on their respective experience in the business of credit information. |
October 09, 2025 |
| 46 |
Where can one find the list of Co-operative Banks licensed by RBI in India under Banking Regulation Act, 1949 (AACS)? |
The list of Co-operative Banks which have been issued license by RBI under section 22 read with section 56 of Banking Regulation Act, 1949 to carry out banking business in India may be accessed through the below link:
https://www.rbi.org.in/commonperson/English/Scripts/BanksInIndia.aspx |
September 29, 2025 |