In exercise of the powers conferred by clause (j) of sub section (2) of section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board, with the previous sanction of the Central Government

REGD. No. D. L.-33004/99 The Gazette of India CG-MH-E-01072026-273976 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 419] | NEW DELHI, THURSDAY, JUNE 25, 2026/ASHADHA 4, 1948 RESERVE BANK OF INDIA (Central Office) (CORPORATE STRATEGY AND BUDGET DEPARTMENT) NOTIFICATION Mumbai, the 17th June, 2026 F.No. CSBD/Funds/S131/05.03.001/2026-27.—In exercise of the powers conferred by clause (j) of sub-section (2) of section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board, with the previous sanction of the Central Government, hereby makes the following regulations to amend the Reserve Bank of India Employees' Provident Fund Regulations, 1935, namely :- 1. Short title and commencement, – (1) These regulations may be called the Reserve Bank of India Employees' Provident Fund (Amendment) Regulations, 2026. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Reserve Bank of India Employee's Provident Fund Regulations, 1935 (hereinafter referred to as the said regulations), after regulation 1, the following shall be inserted, namely :- 2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III-SEC.4] "1.A Definitions –(1)In these regulations, unless the context otherwise requires, - (a) "Act" means the Reserve Bank of India Act, 1934 (2 of 1934); (b) "Associate Institution" means, (i) "National Bank for Agriculture and Rural Development" established under section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981); (ii) "National Housing Bank" established under section 3 of the National Housing Bank Act, 1987 (53 of 1987); (iii) "Institute for Development and Research in Banking Technology", being a society deemed to be registered under the Andhra Pradesh Societies Registration Act, 2001 and holding a certificate of registration dated March 6, 1996, issued by the Office of Registrar of Societies, Hyderabad (35 of 2001); (iv) "Deposit Insurance and Credit Guarantee Corporation” established under section 3 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961); (c) "Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934); (d) "contribution" means the amount contributed by the Bank in the Fund, which shall be equivalent to the mandatory subscription of the subscriber; (e) "dependant" means any person who is a dependant as defined in clause (c) of section 2 of the Provident Funds Act, 1925 (19 of 1925); (f) "Fund" means the Reserve Bank of India Employees' Provident Fund constituted under regulation 1 of these Regulations; (g) “subscription" means a percentage of 'pay' transferred by the subscriber to the Fund; (h) "successive nomination” means successive or alternate nomination; (2) Words and expressions used in these regulations and not defined herein, but defined in the Act, shall have the same meanings respectively assigned to them in the Act.". 3. In the said regulations, in regulation 5C, the Explanation shall be omitted. 4. In the said regulations, in regulation 11, in sub-regulation (i), for clause (b), thefollowing shall be substituted, namely:- "(b) An advance shall not, except for special reasons, (i) | exceed half the amount of the subscriber's own subscriptions to the Fund and interest thereon or (ii) | be granted until the final repayment of the previous advance.". [PART III-SEC.4] 5. In the said regulations, in regulation 11, in sub-regulation (2), for clause (a), the following shall be substituted, namely:- "(a) An advance shall be recovered from the subscriber in such number of equal monthly instalments as the Bank may direct but such number shall not be less than 12 or more than 36. A subscriber may, at his option, repay more than one instalment in one month. Each instalment shall be a number of whole rupees, the amount of the advance being raised or reduced, if necessary, to admit of the fixation of such instalments.". 4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III-SEC.4] 6. In the said regulations, in regulation 11A, in sub-regulation (1), for the words 'including stamp duty and registration charges', the following shall be substituted, namely :- "including stamp duty, registration charges and applicable taxes.". 7. In the said regulations, in regulation 14, for sub-regulation (1) the following shall be substituted, namely :- “(1) The sum standing to the credit of a subscriber shall become payable on the termination of his service or on his death; Provided that a subscriber on leave preparatory to retirement may at his option withdraw from the sums standing to his credit in the Fund an amount not exceeding his own subscriptions and the interest thereon; Provided also that a subscriber, including any person permitted to subscribe to the Fund under sub- clause (b) of clause (iii) of regulation 5 may, at any time after completion of 10 years' service or during the 10 years immediately preceding the date of his retirement or the date of expiry of his specified tenure of office, as the case may be, be permitted by the Bank at their discretion, to withdraw, for any of the purposes contained in sub-regulation (2) of regulation 14 and subject to the provisions contained in sub-regulations (3), (4) and (5), from the sums standing to his credit in the Fund up to such amount as is specified in regulation 14A. Provided further that, if the Committee of the Central Board of the Bank or any officer of the Bank as the said Committee may specify in this behalf, so directs, be deducted therefrom and paid to the Bank - (a) any amount due under a liability incurred by the subscriber to the Bank up to the total amount contributed by the Bank to his account, including the interest credited in respect thereof. or (b) where the subscriber has been dismissed from his employment on account of misconduct or gross negligence or where the subscriber has resigned his employment under the Bank within five years of the commencement of his continuous service including temporary service, the whole or any part of the amount of such contributions together with the interest credited in respect thereof. Explanation: For the purpose of calculating the period of service in the case of ex-servicemen subscribers for withdrawal for purposes of housing and non-housing as specified in clauses (a) and (b) of sub-regulation (2) of regulation 14, the period of service rendered by them in the Defence Forces prior to their joining the Bank shall also be taken into consideration.". [PART III-SEC.4] 8. In the said regulations,in regulation 14, in sub-regulation (2), in clause (b), in sub-clause (v), for the words "payment of stamp duty and registration charges", the following shall be substituted, namely :- "payment of stamp duty, registration charges and applicable taxes." 9. In the said regulations, in regulation 14, in sub-regulation (5):- (i) in the proviso, for the words "withdrawal from the Fund, subject to the other provisions of these regulations", the words “withdrawal from the Fund for another house or dwelling unit or plot, subject to the other provisions of these regulations” shall be substituted; (ii) after the proviso, the following proviso shall be inserted, namely :- "Provided further that, if a subscriber has not transferred, assigned, or created interest in the house or dwelling unit or plot acquired by him / her with the help of withdrawal under these regulations, and has not refunded the amount so withdrawn by him / her, he / she shall be eligible 10 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III-SEC.4] for a fresh withdrawal for another house or dwelling unit or plot from the Fund subject to the following conditions, namely :- (a) Fifteen years have elapsed from the date of the earlier withdrawal for acquiring the house / dwelling unit / plot under these regulations or five years are remaining to the date of superannuation of the subscriber; and (b) the limit for the fresh withdrawal is restricted to the subscriber's own subscription (excluding the Bank's contribution, if any) and interest thereon. Provided further that, in no case, shall a subscriber be eligible for withdrawal from the Fund for more than two houses or dwelling units or plots." 10. In the said regulations, in regulation 14A, in sub-regulation (1) – (i) the words, “or six months' pay ('pay' as defined in Explanation to Regulation 6), whichever is less", shall be omitted; (ii) for the words "The Chief General Manager, DEBC", the words "The Officer-in-Charge of the operations of the Fund" shall be substituted; 11. In the said regulations, in regulation 14C, in sub-regulation (2)- (i) in clause (i), in sub-clause (a), the words “upto six months' pay but” shall be omitted. (ii) in clause (ii),- (a) for the words “Chief General Manager, DEBC”, the words “Officer-in-Charge of the operations of the Fund" shall be substituted; (b)subclause (ii) shall be omitted; 12. In the said regulations, in regulation 15, in sub-regulation (v), for the brackets, letters and figures “(A1, B1)", the brackets, letters and figures “(A1, B1, B4)" shall be substituted. 13. In the said regulations, after regulation 15A, the following shall be inserted, namely:- "15B Successive Nomination: Alternate to the nominations in Form A or Form BorFormB2, a subscriber may nominate in Form B3 annexed to these regulations, a maximum of up to three members of his / her family or persons or dependants to whom the amount standing to his credit in the Fund shall be payable in a successive manner, as enumerated in the proviso to clause (ii) of regulation 16, in the event of the death of the subscriber.". 14. In the said regulations, in regulation 16, after the sub-regulation (ii) and before the “Note”, the following provisoshall be inserted, namely :- "Provided, if a nomination is made by the subscriber in accordance with regulation 15B, on the death of the subscriber, the amount standing to his / her credit in the Fund shall become payable to the first nominee and in case the first nominee is not alive at the time of settlement, the amount shall become payable to the second nominee and if both the first and second nominees are not alive, then the amount shall become payable to the third nominee;". 15. In the said regulations, after Provident Fund Form B2, the following forms shall be inserted, namely :- [PART III-SEC.4] Provident Fund Form B3 FORM B3 (FORM OF SUCCESSIVE NOMINATION) Name (in full): Provident FundIndex No.: (Block letters to be used) Place: Date: The Administrators of the Reserve Bank of India Employees' Provident Fund Dear Sir, (1) I..................(name of Provident Fund Subscriber), hereby nominate my.. is..... (mention relationship, if any)... .aged.... years and (name) being whose address (address of 1st nominee) as the person to whom the balance available in my Reserve Bank of India Employees' Provident Fund Account shall be paid in the event of my death. (2) In the event of death of. .(name of 1st nominee) before my death or after my death without receiving any benefits from Reserve Bank of India Employees' Provident Fund, I hereby nominate .(name of 2nd successive nominee) being my .(mention relationship, if any) aged............years and whose address is as the person to whom all the balance available in my Reserve Bank of India Employees' Provident Fund account shall be paid. (3) In the event of death of .(name of 1st Nominee) and.... ....(name of 2nd Nominee) before my death, or after my death without receiving any benefits from Reserve Bank of India Employees' Provident Fund, I hereby nominate. relationship, if any) and address ..(name of 3rd Successive nominee) being my... .(mention aged.........years whose is as the person to whom all the balance available in my Reserve Bank of India Employees' Provident Fund account shall be paid. This nomination is in lieu of earlier nomination effected under my Reserve Bank of India Employees' Provident Fund Account. Witness (1) Signature Name: Designation: Address: Yours faithfully, (2) Signature Name: Designation: Address: Signature of subscriber Name Subscriber's signature verified by me Head of the Department / Officer-in-Charge 12 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III-SEC.4] Provident Fund Form B4 Form B4 (CONTINGENT NOTICE FOR CANCELLATION OF SUCCESSIVE NOMINATION) Without prejudice to my right under regulation 15B of the Reserve Bank of India Employees' Provident Fund Regulations to cancel the nomination made by me whenever I think fit, I hereby give notice that in the event of the person/ any of the persons nominated thereunder pre-deceasing me, the said nomination shall forthwith stand cancelled in so far as it relates to the rights conferred upon such person/ any of such persons. Dated. this.... of. .......day At. Signature of subscriber: Name : PF Index No... Witness (1) Signature Name: Designation: Address: (2) Signature Name: Designation: Address: Subscriber's signature verified by me Head of the Department / Officer-in-Charge SUMAN NATH, Chief General Manager [ADVT.-III/4/Exty./188/2026-27] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. SARVESH KUMAR Dyed by SASH SRIVASTAVA KUMAR SRIVASTAVA