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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
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…
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RBI proposes tighter disclosure norms for deposit rates, links bulk deposit pricing to liquidity rules
The Reserve Bank of India is proposing new rules for bank deposit interest rates. Banks will need to publish their rates daily. They can also offer different rates on large…
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timesofindia.indiatimes.com
Bulk deposit pricing to be more transparent, flexible
MUMBAI: RBI has proposed tighter disclosure norms for deposit interest rates while allowing banks to price large deposits based on withdrawal risk, which will be a fourth factor…