How RBI's updated deposit regulations impact retail FD holders
Starting October 1, the RBI has implemented updated guidelines for deposit interest rates, impacting both bulk deposits and retail fixed deposits. Under these new rules, banks are required to provide uniform interest rates for similar retail deposits made on the same day across all their branches, and these rates must be disclosed beforehand. However, lenders retain the flexibility to provide varying interest rates for bulk deposits, provided they align with the Liquidity Coverage Ratio framework.
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