The Regulatory Update relates to the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026, issued on 30 July 2026 as an amendment to the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Directions, 2025, and effective from 1 October 2026. Following a review, the RBI has revised the instructions pertaining to disclosure of interest rates on deposits. The amendment substitutes paragraph 6.3 in Chapter II – General Guidelines (Interest Rate Framework) to provide that interest rates payable on deposits shall be strictly in accordance with the schedule of interest rates disclosed in advance on the bank’s website.
Reserve Bank of India
RBI/2026-27/217
DOR.SOG(SPE).REC.179/13.03.00/2026-27 | Dated: July 30, 2026
Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026
Please refer to the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Directions, 2025 (hereinafter referred to as ‘Directions’), dated November 28, 2025. On a review, it has been decided to issue revised instructions pertaining to disclosure of interest rates on deposits.
2. Accordingly, in exercise of the powers conferred by Section 35A of the Banking Regulation Act,1949 and all other laws enabling the Reserve Bank India (RBI) in this regard, the RBI, being satisfied that it is necessary and expedient in public interest so to do, hereby issues the Amendment Directions hereinafter specified.
3. These Amendment Directions shall be called the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026.
4. These Amendment Directions shall come into effect from October 01, 2026.
5. These Amendment Directions shall modify the Directions as under:
(1) In Chapter II on ‘General Guidelines (Interest Rate Framework)’, the paragraph 6.3 shall be substituted by the following, namely:
Interest rates payable on deposits shall be strictly as per the schedule of interest rates disclosed in advance on the bank’s website.
(Dr. Sudarsana Sahoo)
Chief General Manager
