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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Master Direction - Scheme of Penalties for bank branches and currency chests for deficiency in rendering customer service to the members of public

01-Apr-2025 | RBI/DCM/2025-26/131 DCM (CC) No.G-1/03.44.001/2025-26

RBI has issued the "Master Direction - Scheme of Penalties for bank branches and currency chests for deficiency in rendering customer service to the members of the public" effective from 01st April, 2025.

Key Highlights are as follows:
1. The provisions of the master direction apply to all banks. The main objective of the direction is to ensure that all the banks/ currency chests provide customer service to public keeping in view the objective of the Clean Note Policy and enhancing operational efficiency.
2. The penalties for non-compliance with operational guidelines and MoA, Deficiencies in remittances, exchange of notes, replenishment of cash in ATMs etc., are specified.
3. FAQs on the Master Direction and Illustrations are also specified as Annexure II and Annexure III.

Kindly refer to the attachment for more information.

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