BLOG 30/2026 DATED 1ST MAY 2026
In this document we have covered the select RBI notifications and directives issued during April 2026 and produced a gist of it. For detailed and full study, readers may refer to the link below the subject of each notification.
NOTIFICATIONS:
1.
- RBI/2026-27/05 A.P. (DIR Series) Circular No. 04 dated 02.04.2026
Subject: Memorandum of Instructions governing money changing activities – Location of Forex Counters in International Airports in India
Gist:
it has been decided to allow residents (along with non-residents) to exchange Indian Rupee notes at foreign exchange counters at the departure halls in the international airports established in the Duty-Free Area or Security Hold Area beyond the Immigration or Customs desk.
Author’s note: So far it was permitted only for non residents.
2.
- RBI/2026-27/08 CO.DPSS.ID.No.S20/06-08-017/2026-2027 dated 09.04.2026
Subject: Guidelines to facilitate faster cross-border inward payments
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT083C6ADC9FA8C24AB29757536C709EA939.PDF
Gist: Effective date – 6 months from date of the circular.
Banks shall inform their customer of the receipt of cross-border inward transactions immediately on receipt of inward message. Messages received after close of operating hours shall be informed at the start of the next business day.
banks are advised to undertake reconciliation and confirmation of credit in the nostro account frequently either on near real time basis or at periodic intervals. The reconciliation interval should normally not exceed one hour.
Banks shall endeavour to credit the inward payments received during the foreign exchange market hours within the same business day to the beneficiary’s account, and credit the inward payments received after market hours on the next business day, subject to compliance with the extant FEMA and other regulatory requirements.
Banks may, put in place straight through process for crediting the inward payments to the account of individual residents.
Banks may, endeavor to provide digital interface to their customers to facilitate foreign exchange transactions
3.
RBI/2026-27/14 A.P. (DIR Series) Circular No. 07 dated 20.04.202
Subject: Risk Management and Inter-Bank Dealings
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT141CBCF8D96C7D43FCB43D649F2653DF96.PDF
Gist: Applicable – immediate effect.
- On a review, it has now been decided to withdraw the instructions issued vide A.P. (DIR Series) Circular No. 03 dated April 01, 2026.
- It has been decided that Authorised Dealers shall not undertake any foreign exchange derivative contract involving INR with their related parties except for the following: (i) cancellation and rollover of existing contracts; and (ii) transactions undertaken with non-related non-resident users on a back-to back basis
4.
RBI/DPSS/2026-27/396 RBI/CO.DPSS.POLC.No.S56/02.14.003/2026-27 dated 21.04.2026
Subject: Digital Payments – E-mandate Framework, 2026
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/396MDD002E435ECA145509929FC3ACBCFD0E9.PDF
Gist:
Registration and revocation of E-Mandate
(a) A customer desirous of opting for e-mandate facility shall undertake a one-time registration process.
(b) Every e-mandate registered by the issuer shall specify the validity period of the e-mandate. The customer will have the facility to modify the validity or withdraw.
(c) The e-mandate may be for either a pre-specified fixed amount or for a variable amount subject to the overall cap fixed by the RBI. In the case of variable e mandates, the issuer shall provide the customer with a facility to specify the maximum value of any recurring transaction.
(d) The customer shall be given a facility to choose or change a mode among available options (SMS, email, etc.) for receiving the pre-transaction notification from the issuer.
(e) Any modification in, or withdrawal of, an existing e-mandate shall require AFA (Additional Factor of Authentication) validation by the issuer.
Processing of first transaction and subsequent recurring transactions
(a) The first transaction under an e-mandate shall require AFA validation.
(b) Payments under e-mandates shall not be subject to any other limits / controls set by the customer.
Pre-transaction Notification
(a) An issuer shall send a pre-transaction notification to the customer, at least 24 hours prior to the actual charge / debit.
(b) The pre-transaction notification shall, at the minimum, inform the customer about the merchant’s name, transaction amount, date / time of debit, reference number of e-mandate, reason for debit, i.e., e-mandate registered by the customer.
(c) The issuer shall provide a customer with a facility to opt-out of any particular transaction or the e-mandate.
(d) Pre-transaction notification is not required for e-mandates registered to auto replenish balances of FASTag, and National Common Mobility Card (NCMC).
Post-transaction notification
An issuer shall send a post-transaction notification to the customer.
Transaction limits and velocity check
(a) All recurring transactions may be authorised without AFA up to ₹15,000/- per transaction. Transactions above this amount shall be subject to AFA.
(b) Payment of insurance premiums, subscription to mutual funds, and credit card bill payments may be made without AFA up to ₹1,00,000/- per transaction.
Other provisions
(a) No charges shall be levied to the customer for availing the e-mandate facility for recurring transactions.
No gist prepared for the 4 directions issued as under. To be saved as reference as these covers the entire process of the matter and providing gist will not justify the content.
Reserve Bank of India (Commercial Banks – Capital Charge for Credit Risk – Standardised Approach) Directions, 2026 (Effective from April 1, 2027) dated 27.04.2026
397MD7DCC951F9F014A738C60E0FBC1A73D70.PDF
Reserve Bank of India (Commercial Banks – Asset Classification, Provisioning and Income Recognition) Directions, 2026 dated 27.04.2026
MD39857992A3DBE7946619F0F76DF81E472CF.PDF
Reserve Bank of India [Disbursement of Government Pension by Agency Banks (ABs)] Directions, 2026 dated 30.04.2026
399MDAD236E83FDD240EEB29F1F5E2DBAD333.PDF
Reserve Bank of India [Conduct of Government Business by Agency Banks (ABs) dated 30.04.2026
400MDEF6FB735DC5A48308F688DCB9BA11A65.PDF
POLICY RATES (As per MPC dated 8th April – rates unchanged)
Authors Note: For shortfall in CRR and SLR of 3 days or less a rate of Bank Rate + 3% is charged by RBI while for shortfall of above 3 days a of Bank Rate + 5% is charged.
About the author: The author of the Blog, Sayed Azhar Hasan, is a CFA (ICFAI), MBA, PGDIBF (Islamic Banking and Finance), ex banker with 29 years of banking experience and a management educator.
On social media:
LinkedIn : Sayed Azhar Hasan | LinkedIn
You Tube: Sayed Azhar Hasan – YouTube
Disclaimer: The information provided in this blog is for educational and informational purposes only and does not constitute professional financial, legal, or regulatory advice. While efforts have been made to ensure accuracy based on the RBI circulars, readers should consult official Reserve Bank of India (RBI) guidelines and professional advisors before making business or investment decisions. The views expressed are those of the author and do not necessarily reflect the official policy of any banking institution or regulatory body.
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