Withdrawal of Master Circular on Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM) and related circulars

## Report on Withdrawal of Circulars Related to Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) **1. Executive Summary:** This report analyzes the Reserve Bank of India (RBI) circular dated May 21, 2025, which announces the withdrawal of the Master Circular on Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM) and related circulars, effective October 1, 2024. This withdrawal stems from the official conclusion of the DAY-NULM program on September 30, 2024. Key findings indicate that scheduled commercial banks and small finance banks are no longer required to submit returns prescribed in the withdrawn circulars. **2. Introduction:** This report aims to provide information and analysis regarding the RBI circular FIDD.CO.GSSD.BC.No 0609.16.003/2025-26, dated May 21, 2025, concerning the withdrawal of circulars related to the Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM). The analysis is based solely on the content of the provided RBI circular and related annex. **3. Policy Overview:** This document constitutes an amendment (more accurately, a withdrawal) of existing circulars related to the Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM). * **Core Objective(s):** The original objective of the Master Circular and related circulars was to guide the implementation and monitoring of the DAY-NULM scheme. The objective of this amendment is to formally withdraw these guidelines following the program's conclusion. **4. Background and Rationale:** As DAY-NULM officially concluded on September 30, 2024, the rationale for this amendment is to remove the reporting requirements and operational guidelines associated with the program. This streamlines processes for banks and aligns with the program's termination. **5. Key Provisions / Changes:** This RBI circular specifically focuses on the *withdrawal* of existing policies. Therefore, the key changes introduced are: * **Specific Part of Original Policy Changed:** The entire Master Circular dated April 5, 2021, on DAY-NULM and all related circulars listed in the Annex are being withdrawn. * **New Rule/Provision:** Effective October 1, 2024, the Master Circular and the listed circulars are no longer in effect. * **Effect of the Change:** Banks are no longer required to follow the guidelines provided in the withdrawn circulars or submit the prescribed returns related to DAY-NULM. This reduces the administrative burden on banks concerning this specific program. **6. Target Audience and Stakeholders:** The primary target audience and stakeholders are: * All Scheduled Commercial Banks * Small Finance Banks These institutions are directly affected as they are no longer required to comply with the reporting requirements stipulated in the withdrawn circulars. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Reserve Bank of India (RBI), specifically the Financial Inclusion Development Department, is responsible for issuing and implementing this withdrawal notification. * **Timelines or Procedures:** The effective date of the withdrawal is October 1, 2024. No specific procedures are outlined for the banks, beyond the cessation of reporting requirements. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of these changes is to: * Reduce the administrative burden on scheduled commercial banks and small finance banks by eliminating the need to prepare and submit reports related to DAY-NULM. * Streamline regulatory compliance for financial institutions, as they no longer need to adhere to the withdrawn guidelines. * Ensure regulatory clarity following the conclusion of the DAY-NULM program. **9. Conclusion:** The RBI circular dated May 21, 2025, officially withdraws the Master Circular on DAY-NULM and related circulars due to the program's conclusion. This significantly impacts scheduled commercial banks and small finance banks by removing the associated reporting requirements. This amendment ensures regulatory alignment with the program's status and reduces the administrative burden on financial institutions. The withdrawal signifies the end of the monitoring and reporting phase for this particular iteration of the DAY-NULM scheme under these specific circulars.

Key Entities Referenced