Regulatory Alerts2026-06-15
Added · Updated
Reserve Bank of India (Rural Co-operative Banks – Undertaking of Financial Services) Second Amendment Directions, 2026
These Directions amend the 2025 Master Direction for Rural Co-operative Banks (RCBs) by substituting definitions for Agency Business and Referral Services, inserting definitions for Regulated financial products and services, Third-party Product and Service, and Third-party Product and Service Provider, and omitting specific sub-paragraphs in paragraphs 15 and 26. New paragraphs 21A through 21D require RCBs to comply with the 2025 Responsible Business Conduct Directions, ensure business is undertaken on a fee basis without risk participation, facilitate grievance redressal for insurance products, and restrict digital channel listings to covered products. The Directions come into effect on January 01, 2027.