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Informist, Friday, Jun. 5, 2026

 

--RBI Malhotra on HDFC Bank: Don't comment on entity-specific queries 

--RBI Malhotra: Have clear policy on differential interest rates for deposits 

--RBI Malhotra: Banks can offer differential rates on deposits transparently 

 

MUMBAI – The Reserve Bank of India has a clear policy on differential interest rates on deposits, Governor Sanjay Malhotra said on Friday, addressing a question at a post-policy press meeting. The governor said that banks could offer differential rates on deposits transparently. 

 

"We have to be transparent at the same time, where you have to display them to everyone clearly. Any differential rate beyond that if someone is giving is certainly not acceptable," Malhotra said. 

 

"We have a very persistent and very clear policy for deposits as to when they can have differential rates. I think certain categories of people, like senior citizens and depending on tenor...," Malhotra told reporters.

 

Differential rates of interest can be paid on single term deposits of INR 1.5 million and above and not on the aggregate of individual deposits where the total exceeds INR 1.5 million. Banks can formulate special fixed deposit schemes specifically for resident Indian senior citizens offering higher and fixed rates of interest as compared to normal deposits of any size.

 

On a question related to HDFC Bank's governance, Malhotra said, "...we do not answer any entity or bank-specific questions." 

 

In a unanimous decision Friday, the RBI's Monetary Policy Committee left the policy repo rate unchanged at 5.25% and retained its 'neutral' policy stance.  End

 

Reported by J. Navya Sruthi

Edited by Avishek Dutta

 

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