Reserve Bank of India mandates identical deposit rates across branches
Business
The Reserve Bank of India just announced that all banks must offer the same interest rates on deposits, no matter which branch you use or where you are.
This move is all about making things transparent and stopping any unfair differences for people putting in similar amounts on the same day.
Banks also have to stick to the rate schedules they post online (no surprises).
Daily updates for bulk deposit rates
For bigger deposits, banks now need to update their interest rates on each business day (with a short grace period).
They can still set different rates for these bulk deposits but have to factor in withdrawal risks.
These changes officially start October 1, 2026, after feedback from stakeholders shaped the final guidelines.