RBI Announces New FD and Bulk Deposit Rules for October

The Reserve Bank of India will implement new fixed deposit guidelines for small finance banks on October 1, mandating advance rate disclosures and uniform pricing.

Small finance banks must update bulk deposit interest rates on their websites every business day by 10:00 am, with a 10-minute grace period allowed.

A bulk deposit is defined as a single rupee term deposit of ₹3 crore or more, and while regular deposits require uniform rates, banks retain flexibility for bulk deposit pricing.