Regulatory Alerts2026-06-17
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Reserve Bank of India (Rural Co-operative 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 to five years and the restriction on interest rates for NRE deposits of three years and above, including those renewed upon maturity. These exemptions apply to rural co-operative banks from June 17, 2026, until September 30, 2026. The amendment modifies paragraph 24(4) of Chapter IV and paragraph 29(7) of Chapter V of the Directions, 2025, while explicitly excluding any transfers from NRO accounts to NRE accounts from the exemption.
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