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In Brief
Mandates banks to offer uniform interest rates for similar bulk deposits accepted on the same day across all branches.
The Reserve Bank of India's (RBI) revised regulations regarding bulk fixed deposits (FD) kick in from October 1, introducing operational changes for depositors and banking institutions.
Under the new guidelines, commercial banks must offer identical interest rates for similar bulk deposits accepted on the same day across all their branches. The rule applies uniformly to all customers, eliminating branch-wise variations or discretionary rate offerings on bulk deposits.
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