RBI releases draft Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026

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June 25, 2026 RBI releases draft Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026 In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated April 08, 2026, the Reserve Bank of India has released today the draft Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026. Comments on the draft Directions are invited from banks, market participants and other interested stakeholders by July 17, 2026. Feedback on the draft Directions may be forwarded to: The Chief General Manager Reserve Bank of India Financial Markets Regulation Department 9th Floor, Central Office Building Shahid Bhagat Singh Marg, Fort Mumbai – 400001 Or by email with subject line “Feedback on draft Master Direction – Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026”. Background An active-term money market, apart from providing an alternative funding avenue to the market participants, also helps in enhancing monetary policy transmission by creating a link between the overnight money market and longer-term interest rates. The draft Directions aim to further enhance the depth of participation and liquidity in the term money market segment by enhancing the borrowing limits for standalone primary dealers and expanding the participant base. (Brij Raj) Press Release: 2026-2027/545 Chief General Manager प्रेस प्रकाशनी PRESS RELEASE भारतीय ǐरज़वर् बैंक RESERVE BANK OF INDIA वेबसाइट : www.rbi.org.in/hindi संचार ͪ वभाग, केंद्रȣय कायार्लय, शहȣद भगत ͧ संह मागर्, फोटर्, मुंबई - 400 001 Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502