FinanceMoneycontrol
RBI allows banks to offer differential interest rates on bulk deposits
in5points
The Reserve Bank of India (RBI) now permits banks to offer differential interest rates on bulk deposits.
The decision follows the HDFC Bank-MSRDC controversy, in which HDFC Bank was accused of offering above-market interest rates to secure deposits from MSRDC.
Banks can now differentiate interest rates for bulk deposits, potentially affecting how they price large corporate deposits.
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