Regulatory Alerts2026-06-15
Added · Updated
Reserve Bank of India (Urban Co-operative Banks – Undertaking of Financial Services) Second Amendment Directions, 2026
These Directions amend the 2025 Master Direction for Urban Co-operative Banks by substituting definitions for Agency Business, Referral Services, and Regulated financial products, while omitting paragraphs 21, 23, and 27. They impose specific conditions on UCBs undertaking mutual fund marketing, insurance agency business, and online trading facilities, requiring compliance with SEBI, IRDAI, and PFRDA regulations, fee-based operations without risk participation, and adherence to the 2025 Responsible Business Conduct Directions. The amendments also establish eligibility criteria for providing Point of Presence services for the National Pension System and mandate that applications for online trading facilities be submitted via the PRAVAAH Portal. These Directions come into effect on January 01, 2027.