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Differential deposit rates permitted but must be transparent, says RBI Governor amid HDFC Bank row
The Reserve Bank of India permits banks to offer different interest rates on deposits. These rates must be transparent and follow specific rules. This comes after allegations that HDFC Bank routed differential interest payments to a state agency through its marketing budget. HDFC Bank has denied these claims, stating its internal controls are strong.
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economictimes.indiatimes.com
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Differential deposit rates permitted but must be transparent, says RBI Governor amid HDFC Bank row
The Reserve Bank of India permits banks to offer different interest rates on deposits. These rates must be transparent and follow specific rules. This comes after allegations that…
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Paying beyond disclosed rates to attract deposits not acceptable: RBI Guv Sanjay Malhotra
Reserve Bank Governor Sanjay Malhotra stated that paying interest rates higher than disclosed is unacceptable to the central bank. While acknowledging healthy competition for…