RBI permits variable ₹3cr+ deposit rates with uniform branch pricing
Business
Big news from the Reserve Bank of India: banks can now offer different interest rates on large deposits (₹3 crore and above), starting October 1, 2026.
The goal is to give banks more flexibility when times get tough financially.
But there's a catch: rates have to be the same across all branches for deposits of a similar amount on any given day.
Banks to post bulk rates daily
Banks will need to post their bulk deposit rates online every morning by 10am plus share them via SMS or email.
RBI isn't making changes for smaller deposits due to complexity.
Looking ahead, new Basel III rules kick in from April 2027: banks will have to reveal their capital and risk numbers much faster after financial results, making things more transparent for everyone.