**Executive Summary**
The Reserve Bank is undertaking a consolidation of regulatory instructions to improve accessibility and reduce compliance costs. The existing regulatory instructions issued up to October 9, 2025, are being consolidated into 238 Master Directions. Comments and feedback on the draft documents can be submitted until November 10, 2025.
**Key Points / Main Content**
* **Regulatory Consolidation:**
* The Reserve Bank is consolidating regulatory instructions.
* Existing instructions issued up to October 9, 2025, are being consolidated into 238 Master Directions.
* The consolidation covers 11 types of regulated entities across up to 30 functions/areas.
* Approximately 9000 circulars will be repealed as a result.
* **Objective:**
* Improve accessibility of regulatory instructions for regulated entities.
* Reduce compliance costs.
* Enhance clarity on the applicability of instructions.
* **Documents for Comment:**
* Drafts of the 238 consolidated Master Directions/Guidelines are available on the Reserve Bank website.
* A list of the circulars proposed to be repealed is also available.
* **Feedback Submission:**
* Feedback/comments must be submitted by November 10, 2025.
* Feedback can be submitted through the 'Connect 2 Regulate' section on the website.
* Feedback can also be submitted via email with a specific subject line format.
* Feedback for modification/review of instructions will not be considered.
**Impact Analysis**
**Regulated Entities**
* **Impact:** The consolidation aims to provide easier access to relevant regulations, reduce compliance costs, and clarify the applicability of each instruction.
* **Action Required:** Review the draft Master Directions/Guidelines and provide feedback by November 10, 2025, through the specified channels.
**Reserve Bank of India (Department of Regulation)**
* **Impact:** Streamlined regulatory framework with fewer circulars to administer.
* **Action Required:** Review and incorporate feedback received on the draft documents before finalizing the consolidated Master Directions.
Key Entities Referenced
Reserve Bank of India: Undertook a comprehensive exercise of consolidating regulatory instructions.
Master Directions: Regulatory instructions that are being consolidated. 238 Master Directions resulted from the consolidation.
Department of Regulation: Administers the regulatory instructions that are being consolidated by the Reserve Bank.
Connect 2 Regulate: Section on the RBI website to submit feedback
Mumbai: Location of the Reserve Bank of India's central office where the press release originated.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
October 10, 2025
Consolidation of Regulations – Drafts for comments
The Reserve Bank has constantly endeavoured to optimise its regulatory
framework with a focus inter alia on reducing the regulatory burden and compliance
costs, apart from timely re-evaluation of the currency of existing instructions.
Pursuant to the above, the Reserve Bank has undertaken a comprehensive
exercise of consolidating the regulatory instructions currently administered by the
Department of Regulation, on ‘as is’ basis. The existing universe of regulatory
instructions issued up to October 9, 2025 have been consolidated into 238 Master
Directions, across 11 types of regulated entities on up to 30 functions / areas.
Consequently, approximately 9000 circulars (including Master Circulars / Master
Directions) administered by the Department of Regulation will be repealed.
A detailed background and explanation of the approach adopted can be found here.
This exercise is expected to significantly improve the accessibility of regulatory
instructions for the regulated entities, thereby reducing their compliance cost. Also,
consolidation of regulatory instructions separately for each type of regulated entities
will improve the clarity on applicability of each instruction to a regulated entity.
Accordingly, the Reserve Bank has placed on its website the following sets of
draft documents for comments regarding completeness and accuracy:
(i) Drafts of the 238 consolidated Master Directions / Guidelines
(ii) List of the circulars proposed to be repealed
The comments / feedback may be submitted on or before November 10, 2025
through the following channels:
(i) The ‘Connect 2 Regulate’ section on the website by following the
corresponding hyperlink provided against each document in the page where
they are hosted or
(ii) by email with the subject line ‘Feedback on <full name of the draft Master
Direction / Guideline (including the type of Regulated Entity)>’.
Feedback / suggestions for modification / review of instructions shall not be
considered in this exercise.
(Brij Raj)
Press Release: 2025-2026/1291 Chief General Manager