Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026
RBI notification RBI/2026-27/217 · 30 Jul 2026
RBI notification RBI/2026-27/217 · 30 Jul 2026
Summary
Check the official recordThe Reserve Bank of India amends the interest rate disclosure requirements for payments banks. Payments banks must pay interest on deposits strictly according to the schedule of interest rates disclosed in advance on their website. These directions apply to all payments banks. The new requirements take effect on October 01, 2026.
What you must do
Key dates
Who is affected
RBI/2026-27/217 DOR.SOG(SPE).REC.179/13.03.00/2026-27 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.
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.
These Amendment Directions shall be called the Reserve Bank of India (Payments Banks – Interest Rate on Deposits) Amendment Directions, 2026.
These Amendment Directions shall come into effect from October 01, 2026.
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