Regulatory Alerts2026-07-30
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Reserve Bank of India (Local Area Banks – Interest Rate on Deposits) Second Amendment Directions, 2026
The Reserve Bank of India amends the Directions for Local Area Banks by substituting paragraphs 6(3) and 6(2) of Chapter II. Interest rates on deposits, including bulk deposits, must strictly follow the schedule disclosed on the bank's website, with bulk deposit rates posted by 10:10 am each business day. Rates must be uniform across all branches and customers, prohibiting discrimination between deposits of similar amounts accepted on the same date. These Amendment Directions come into effect from October 01, 2026.
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