Regulatory Alerts2026-06-17
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Reserve Bank of India (Local Area Banks – Interest Rate on Deposits) Amendment Directions, 2026
The document temporarily withdraws the interest rate ceiling on fresh FCNR(B) deposits with tenors of three years and above up to five years, and the restriction on interest rates on NRE deposits with tenors of three years and above, including those renewed upon maturity. These exemptions apply from June 17, 2026, until September 30, 2026, and do not extend to transfers from NRO accounts to NRE accounts. The Amendment Directions modify specific paragraphs in Chapter IV and Chapter V of the Directions dated November 28, 2025, and come into effect from the date of issue.
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