The Reserve Bank of India has issued a revised master circular for all Primary (Urban) Co-operative Banks covering guarantees, co-acceptances and letters of credit, consolidating the applicable regulatory instructions without introducing new requirements. The circular updates the previous master circular of April 1, 2024 and incorporates all instructions issued on the topic up to March 31, 2025, with the underlying updates listed in an annex.
Reserve Bank of India 2025-04-01
Reserve Bank of India updates master circular for urban co-operative banks on guarantees, co-acceptances and letters of credit
The Reserve Bank of India released a revised master circular for Primary (Urban) Co-operative Banks, consolidating existing regulatory instructions on guarantees, co-acceptances, and letters of credit. This update incorporates all instructions issued up to March 31, 2025, without introducing new requirements.