Archive · 1 Oct 2026
RBI Bulk Deposit Disclosures Reshape Banks’ Pricing Competition
The RBI has introduced a new rule for large bank deposits.
These deposits are called bulk deposits and are worth more than ₹3 crore.
Banks must publish their interest rates every morning for a short period.
They must generally offer the same rate to customers and branches on that day.
Some banks had already published their rates, while others had not yet done so.
The rates differed between banks for deposits lasting about three years.
The rule may make competition between banks fairer because everyone can see the prices.
Banks can still use some flexibility based on liquidity rules.
The Reserve Bank of India began requiring daily disclosure of bulk-deposit interest rates on October 1, 2026.
Bulk deposits are defined as deposits exceeding ₹3 crore, with rates to be posted from 10:00 am to 10:10 am.
Banks must offer uniform rates across branches and customers on a given day, subject to some LCR-related flexibility.
State Bank of India, ICICI Bank, Axis Bank and Kotak Mahindra Bank disclosed rates, while some others had not yet updated them.
Treasury officials said the rule could reduce competitive distortions, as banks align deposit pricing with broader funding strategies.
- Who
- The Reserve Bank of India and Indian banks, including State Bank of India, ICICI Bank, Axis Bank and Kotak Mahindra Bank.
- What
- A rule requiring banks to disclose interest rates for bulk deposits and generally keep those rates uniform across branches and customers.
- When
- The requirement took effect on October 1, 2026, ahead of the RBI Monetary Policy Committee meeting.
- Where
- On banks’ websites in India.
- Why
- To reduce competitive distortions and make banks’ deposit pricing more transparent and comparable.
Greater Pricing Transparency
Operational and Pricing Flexibility
Impact on competition
Greater Pricing Transparency
Treasury officials said publishing rates could reduce distortions and place banks on a more level playing field.
Operational and Pricing Flexibility
Banks retain some ability to set different deposit prices based on Liquidity Coverage Ratio run-off rates.
Implementation pace
Greater Pricing Transparency
The rule took effect on October 1, requiring daily website disclosures from participating banks.
Operational and Pricing Flexibility
Some banks had not updated their rates when the report was published, and one treasury official said most were expected to implement the changes over the next month.
- Bulk-deposit threshold
- More than ₹3 crore
- Daily disclosure window
- 10:00 am to 10:10 am
- Effective date
- October 1, 2026
- Reported three-year rates
- Axis Bank: 5.9% to 6.05%; Kotak Mahindra Bank: at least 6.35%; ICICI Bank: at least 6.5%
- Rate uniformity
- Rates must generally be uniform across branches and customers on a particular day
- Permitted flexibility
- Banks may price deposits differently according to applicable Liquidity Coverage Ratio run-off rates
- Implementation status
- Some banks disclosed rates immediately, while others were expected to implement the rule over the following month