The amended provisions specify that core banking functions and acceptance of time deposits must be undertaken departmentally, while mutual fund, insurance, pension, and portfolio management services must be conducted via group entities. The directions impose prudential investment limits i.e. a single bank may invest up to 10% in any entity, and aggregate investments, including group and overseas entities, may not exceed 20%, with prior approval required for higher exposures. Specific restrictions on Asset Reconstruction Companies, Alternative Investment Funds, and Real Estate/Infrastructure Investment Trusts have been provided.