Regulatory Alerts2026-06-17
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Reserve Bank of India (Regional Rural Banks – Interest Rate on Deposits) Amendment Directions, 2026
The Reserve Bank of India temporarily withdraws the interest rate ceiling on fresh FCNR(B) deposits with tenors of three to five years and the restriction on interest rates for NRE deposits of three years and above, including those renewed upon maturity, from June 17, 2026, until September 30, 2026. These amendments modify paragraphs 26(4) and 31(7) of the Directions, specifically altering the regulatory framework for Rupee Deposits of Non-Residents and Foreign Currency Deposits. The withdrawal of restrictions does not apply to transfers from NRO accounts to NRE accounts.
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