RBI Master Direction on Interest Rate on Deposits:

RBI Master Direction on Interest Rate on Deposits The Reserve Bank of India (RBI) has released the Master Direction on Interest Rate on Deposits. These Directions shall be called the Reserve Bank of India (Interest Rate on Deposits) Directions, 2025. These Directions shall come into effect on the day they are placed on the official website of the Reserve Bank of India. These Directions provide a framework for banks to follow while formulating their policies on Interest Rates on Deposits. The provisions of these Directions shall apply to all banks authorised to operate in India. These Directions shall not be applicable to operations of foreign branches of Indian banks. The relevant text of the notification is given below: Please refer to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 3, 2016, and Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016 dated May 12, 2016. In order to have all instructions related to Interest Rate on Deposits applicable to banks in one place, it has been decided to issue a comprehensive Master Direction. The Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2025, is being issued in exercise of the powers conferred upon the Reserve Bank of India under Sections 21 and 35A read with Section 56 of the Banking Regulation Act, 1949. The comprehensive MD shall come into force with immediate effect. To Read More Download PDF Given Below: