The Reserve Bank of India has issued a comprehensive Master Direction on interest rates on deposits for all banks authorised to operate in India, consolidating the applicable instructions into a single direction. The new Reserve Bank of India (Interest Rate on Deposits) Directions, 2025 brings together guidance previously set out in the 2016 Master Direction on interest rates on deposits and the 2016 Master Direction for co-operative banks. It is issued under Sections 21 and 35A read with Section 56 of the Banking Regulation Act, 1949, and applies with immediate effect.
Reserve Bank of India 2025-04-01
Reserve Bank of India issues consolidated 2025 Master Direction on deposit interest rates effective immediately
The Reserve Bank of India has issued a comprehensive Master Direction on interest rates on deposits, consolidating previous guidance from the 2016 Master Directions for banks and co-operative banks. This new directive, effective immediately, is issued under the Banking Regulation Act, 1949.