The Reserve Bank of India (RBI) has issued the final Amendment Directions on Interest Rates on Deposits, introducing changes aimed at providing greater flexibility to banks in pricing rupee bulk deposits while maintaining transparency in the disclosure of deposit interest rates. The revised directions will come into force from October 1, 2026.
The move follows a public consultation process initiated in June 2026, when RBI released draft amendment directions and invited comments from banks, regulated entities, and other stakeholders. After reviewing the feedback received, the central bank has incorporated suitable modifications into the final framework.
Official copy of the Press Release is as follows
The Reserve Bank, vide Press Release dated June 05, 2026 , had issued the draft "Reserve Bank of India (Interest Rate on Deposits) Amendment Directions, 2026, seeking comments/feedback from the regulated entities and members of public/other stakeholders on or before June 20, 2026. The draft Amendment Directions proposed to provide greater flexibility to banks for pricing their Rupee bulk deposits, while ensuring uniformity in disclosure of interest rates on deposits.
2. Feedback received on the above draft Amendment Directions has been examined and the consequent modifications have been suitably incorporated in the final Amendment Directions. A statement on the feedback received on the aforementioned draft Amendment Directions is provided in the Annex.
3. Accordingly, the Reserve Bank has today issued the following Amendment Directions, which shall come into effect from October 01, 2026.
- Reserve Bank of India (Commercial Banks – Interest Rate on Deposits) Second Amendment Directions, 2026 .
- Reserve Bank of India (Small Finance Banks – Interest Rate on Deposits) Second Amendment Directions, 2026 .
- Reserve Bank of India (Regional Rural Banks – Interest Rate on Deposits) Second Amendment Directions, 2026 .
- Reserve Bank of India (Payment Banks – Interest Rate on Deposits) Amendment Directions, 2026 .
- Reserve Bank of India (Local Area Banks – Interest Rate on Deposits) Second Amendment Directions, 2026 .
- Reserve Bank of India (Urban Co-operative Banks – Interest Rate on Deposits) Second Amendment Directions, 2026 .
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