The Reserve Bank of India has issued 64 consolidated Master Directions covering supervisory instructions administered by its Department of Supervision. The documents were issued on July 31, 2026, after a consolidation exercise that brought together 628 circulars, including Master Circulars and earlier Master Directions.
According to the RBI press release, the exercise is part of its effort to refine its regulatory and supervisory framework, rationalise requirements and reduce compliance costs by periodically reviewing the continued relevance of instructions.
The final Master Directions have been issued on an “as is” basis. This means the RBI has consolidated the existing instructions currently administered by the Department of Supervision, organised them into a structured set of documents, and made them available as the department’s single library of supervisory instructions.
What the RBI has issued
The RBI said the 64 Master Directions are arranged by function and by type of regulated entity. They cover up to nine functional areas across 11 types of regulated entities.
The entities covered are:
- Commercial Banks
- Small Finance Banks
- Payments Banks
- Local Area Banks
- Regional Rural Banks
- Urban Co-operative Banks
- Rural Co-operative Banks
- All India Financial Institutions
- Non-Banking Financial Companies
- Asset Reconstruction Companies
- Credit Information Companies
The RBI said these Directions are available on its website under Notifications, then Master Directions, then Department of Supervision.
628 circulars withdrawn
Along with the consolidated Master Directions, the RBI has issued a circular dated July 31, 2026 listing the 628 circulars that are being repealed or withdrawn. These withdrawals follow the issue of the consolidated Master Directions.
The withdrawn circulars can be accessed on the RBI website under Notifications, then Circulars Withdrawn, then Circulars withdrawn by the Department of Supervision.
This change is intended to make the current set of supervisory instructions easier to locate. Instead of referring to a larger number of separate circulars, regulated entities can refer to the relevant consolidated Master Direction for the applicable area and entity type.
Public comments reviewed
The RBI had earlier placed draft versions of the 64 Master Directions and the proposed list of circulars to be repealed on its website for public comments. This was announced through a press release dated April 8, 2026.
The central bank said it received 767 comments from various stakeholders on the draft Master Directions. Comments related to clarity and accuracy were considered while finalising the documents.
Some suggestions sought review or changes that went beyond the scope of the consolidation exercise. The RBI said those suggestions were not considered as part of this exercise, but will be examined separately.
Department of Supervision instructions
The consolidation applies to instructions administered by the RBI’s Department of Supervision. The final documents are therefore specific to that department’s supervisory instructions and do not claim to cover every RBI instruction issued by other departments.
The RBI’s press release was issued by Brij Raj, Chief General Manager. The press release number is 2026-2027/787.
Source: Reserve Bank of India Press Releases.