RBI India Master Directions

RBI Dividend Directions 2026, Commercial Banks

The Reserve Bank of India issued Master Directions effective Financial Year 2026-27 establishing new prudential norms for dividend declaration and profit remittance by commercial banks. Banks must meet eligibility criteria including positive adjusted PAT, regulatory capital compliance, and absence of RBI restrictions before paying dividends. Dividend quantum is capped at 75% of PAT in aggregate, with tiered percentages from 0% to 100% based on CET1 ratio buckets (from up to (8+z)% through above 20%), where 'z' is the applicable D-SIB buffer. The Directions apply to all banking companies, corresponding new banks, and State Bank of India, explicitly excluding Small Finance Banks, Local Area Banks, Payments Banks, and Regional Rural Banks.

Digital Payments E-Mandate Framework 2026

The Reserve Bank of India has issued the 'Digital Payments – E-Mandate Framework, 2026', consolidating and replacing 8 prior circulars on e-mandate processing for recurring digital transactions. The framework applies to all Payment System Providers and Participants handling domestic or cross-border recurring transactions via cards, PPI, or UPI. Key provisions include: mandatory AFA validation for e-mandate registration; pre-transaction notifications at least 24 hours before debit; no AFA required for transactions up to ₹15,000 (₹1,00,000 for insurance premiums, mutual fund subscriptions, and credit card bill payments); customer opt-out facilities; and a prohibition on charging customers for the e-mandate facility. The framework is effective immediately upon issuance.

Master Direction RBI Unique Identifiers LEI UTI Implementation 2026

RBI issued Master Direction FMRD.MIOD.No.9/11.01.057/2025-26 on March 27, 2026, mandating LEI and UTI for OTC transactions in regulated financial markets. Section A (LEI) takes immediate effect; Section B (UTI) takes effect January 1, 2027. LEI applies to all non-individual entities in Government securities, money market, FX, and derivatives markets, with a USD 1 million threshold for non-derivative FX transactions. Entities without a valid LEI code shall not be eligible to undertake transactions. UTI generation must follow CPMI-IOSCO technical guidance.