What changed
This Master Circular consolidates all Basel III capital regulations issued up to the date of this circular into a single document. It supersedes the previous Master Circular dated July 1, 2015, and includes an annex listing all circulars that have been consolidated.
What it means for you
Banks now have a single, updated reference for all Basel III capital adequacy requirements, reducing the need to track multiple circulars. Compliance teams must ensure their capital planning and reporting align with the consolidated instructions. Small Finance Banks, Payments Banks, and RRBs are excluded and must follow their own licensing guidelines.
What you must do
- Review the consolidated Master Circular and update internal capital adequacy policies accordingly.
- Ensure all Basel III reporting and compliance processes reference this circular as the primary source.
- Train relevant staff on any changes or clarifications introduced in the consolidated instructions.
- Cross-check Annex 27 to confirm all previously issued circulars are accounted for.
Who it affects
All Scheduled Commercial Banks (excluding Small Finance Banks, Payments Banks, and Regional Rural Banks)
Does this Master Circular introduce new capital requirements?
No, it consolidates existing Basel III capital regulations issued as of the date of the circular. No new requirements are introduced.
Are Small Finance Banks and Payments Banks covered by this circular?
No, they are excluded. They must refer to their respective licensing and operating guidelines for capital adequacy norms.
What should banks do with the previous Master Circular from 2015?
The 2015 circular is superseded. Banks should replace it with this new Master Circular for all compliance and reference purposes.