Bank guarantees: issuance, monitoring and prompt honouring required under RBI prudential and compliance safeguards.
Consolidates RBI instructions on issuance, monitoring and honouring of bank guarantees and co acceptances: banks should prioritise financial guarantees, limit maturities (normally ten years), adopt Board approved policies for non constituent non fund facilities with full KYC/AML and credit appraisal, impose internal controls (dual signatures, reporting, periodic reviews), avoid large unsecured guarantees and guarantees enabling placement of funds with NBFCs, ensure prompt payment of invoked guarantees unless court restrained, and follow specific safeguards for export guarantees, overseas JV/WOS exposures, co acceptances and letters of credit while complying with FEMA and prudential norms.

Scale Based Regulation reclassifies NBFCs into layered categories and imposes proportional capital, governance and prudential requirements.
Scale Based Regulation classifies NBFCs into Base, Middle, Upper and Top Layers by size, activity and risk, applies progressively stricter regulations to higher layers, and prescribes layer-specific prudential and governance measures including revised Net Owned Fund minima with glide paths, a >90-day NPA norm with phased compliance, an Internal Capital Adequacy Assessment Process, enhanced capital quality and leverage norms for Upper Layer entities, harmonised concentration limits referenced to Tier I capital, board and disclosure enhancements, Chief Compliance Officer and compensation policies, and transition and supervisory timelines for movements between layers.

Safe deposit locker rules: updated CDD, security standards, nomination and 15 day claim settlement requirements.
Revised regulatory instructions require banks to apply Customer Due Diligence per KYC for locker hirers, maintain transparent allotment with CBS based vacancy and wait lists, adopt Board approved locker agreements, and follow specified rent, relocation and refund rules. Security standards mandate single point vault access, CCTV retention, BIS and Cyber Security Framework compliance for mechanical and electronic lockers, and protection of customer data. Operational controls include visitor logs, privacy during access, alerts to customers, master key custody and surprise verifications. Nomination, inventory and claim settlement procedures require prescribed forms, inventories with witnesses, 15 day settlement on proof of death, SOPs for break open, attachment, disposal and Board approved liability and insurance policies.

Restriction on opening current accounts: banks must follow exposure-based rules and implement changes non disruptively with oversight.
The circular reiterates a restriction on opening current accounts for borrowers with CC/OD facilities and prescribes a graded approach based on banking-system exposure; non-lending banks may open accounts for collection in specified circumstances. Banks are allowed extra time to engage borrowers and resolve operational issues, escalate unresolved matters to the industry association and regulator, extend exemptions for white label ATM operators to Cash-in-Transit and cash replenishment agencies, and implement head office and regional monitoring mechanisms to ensure non-disruptive implementation while maintaining ineligibility for current accounts where borrowers have agricultural/personal ODs or ODs against deposits.