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Informist, Wednesday, Aug. 5, 2026

 

--RBI Malhotra: Norms on differential deposit rates for better transparency 
--RBI Malhotra: On differential deposit rates, we have clarified, not changed 

--RBI Malhotra: No proposal to review norms on banks leadership tenures 

--RBI Murmu: NBFC upper layer list will be out very soon 
 

NEW DELHI – The Reserve Bank of India will soon release the list of upper layer non-banking finance companies, Deputy Governor Shirish Chandra Murmu said Wednesday. "I think... the list will be out very soon," Murmu said at the post-monetary policy press conference.

 

On Jun. 24, the Reserve Bank of India finalised the criteria to identify non-banking finance companies in the upper layer, calling them transparent and simple criteria. This replaced the previous methodology that combined a list of top entities by size with a parametric scoring approach. Any non-banking finance company having an asset size of INR 1 trillion and above as per the latest audited balance sheet for the financial year will be part of the upper layer, the RBI said. The RBI will identify upper-layer non-banking finance companies annually based on asset size.

 

RBI Governor Sanjay Malhotra said the central bank issued directions on banks' interest rate on deposits to bring in more transparency. "There was a lack of clarity in certain aspects... we have standardised and clarified in a transparent manner. There is no major change. It's all about transparency," Malhotra said. He added that banks will now have to inform customers in advance about deposit rates through their websites. For bulk deposits, the RBI has also standardised the timing.

 

As per the amended norms announced Thursday, the RBI allowed banks to offer differential interest rates on bulk deposits based on differential run-off rates. The rates can now be set considering deposits or unsecured wholesale funding under the liquidity coverage rate framework. The central bank permitted this under the amended directions for banks' interest rate on deposits, which will be effective from Oct. 1.

 

The RBI has mandated that interest rates on all deposits, including bulk deposits, be offered strictly as per rates published in advance on bank websites. In a new timeline rule, the central bank added that bulk deposit rates must be disclosed by 1000 IST, with a grace time of 10 minutes, on each business day. 

 

Malhotra said there is currently no proposal to review norms related to succession planning and leadership tenures at banks. "We obviously have a need... but whether it is coming in the way or not has not been by examined by us and there is no proposal in this regard," he said.  End

 

Reported by Vaishali Tyagi

Edited by Rajeev Pai

 

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