The Reserve Bank of India has issued an updated master circular on Basel III capital regulations, consolidating the prudential guidelines on capital adequacy for scheduled commercial banks, excluding small finance banks, payments banks and regional rural banks. The circular updates and amends the prior consolidated master circular by incorporating relevant Basel III capital adequacy guidelines issued up to the current date. Annex 26 lists the circulars consolidated in the updated master circular, while small finance banks and payments banks are directed to rely on their respective licensing and operating guidelines for capital adequacy requirements.