RBI Issues 238 Consolidated Master Directions: 9,000+ Circulars & Guidelines Reorganised [Read Circular]
The drafts Master Directions were released for public comments on October 10, 2025, along with lists of circulars proposed for repeal and notifications to remain in force.
The Reserve Bank of India (RBI) has issued a comprehensive and consolidated set of Master Directions into 238, marking one of the largest regulatory reorganisations undertaken by the central bank in a significant move to reduce compliance burdens for Regulated Entities (REs).
The overhaul was announced by the RBI through a press release dated November 28, 2025. This exercise reorganises more than 9,000 instructions administered by the Department of Regulation into a unified, function-wise structure for 11 categories of Regulated Entities. The initiative aims to enhance accessibility and consistency across the regulatory landscape while reducing confusion pertaining to compliance burden on the financial sector.
The central bank has maintained that the reorganisation was necessitated by the steady expansion of regulatory guidelines over the years, furthered by the evolving financial system, widening regulatory perimeter; the non-repeal of earlier instructions when new ones were issued also proved to be a key factor resulting in the consolidation.
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Duplication of Documents
The constant issuance of circulars and guidelines across entities and functions resulted in entities being unable to navigate all applicable regulations and compliance requirements. To address this, the central bank undertook a “fundamental reorganisation” of the Department of Regulation's instructions, consolidating approximately 3,500 circulars, directions and guidelines into the newly issued Master Directions.
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These 238 Master Directions now cover 11 types of regulated entities, including Commercial Banks, Small Finance Banks, Payments Banks, Local Area Banks, Regional Rural Banks, Urban and Rural Co-operative Banks, All India Financial Institutions, Non-Banking Financial Companies, Asset Reconstruction Companies, and Credit Information Companies.
In consultation with NABARD, instructions issued to Regional Rural Banks and co-operative banks were also incorporated into the consolidation. Instructions deemed obsolete have been identified and will be repealed.
The drafts of these Master Directions were released for public comments on October 10, 2025, along with lists of circulars proposed for repeal and notifications to remain in force. The RBI received more than 770 stakeholder comments, several of which sought regulatory changes. However, only comments relevant to consolidation, and not amendment were considered by the central bank for final issuance.
Accordingly, RBI published 238 Master Direction documents comprising the consolidated regulatory instructions for the 11 categories of entities in the final release. The RBI has also issued a list of 9,445 circulars that have been repealed or withdrawn as a result of the consolidation.
All concerned entities may note that these Master Directions now serve as the “sole library” of regulations administered by the Department of Regulation.
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The consolidation process was central to easing the extensive compliance requirements for regulated entities and is slated to highly improve the ease of doing business through this single, structured repository of instructions.
Access the Master Directions published by the RBI on 28 November, 2025 Here.
Access the circulars withdrawn as per recommendations Here.
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