Reserve Bank of India announces uniform deposit interest rule and reports rise in foreign exchange reserves

The Reserve Bank of India (RBI) issued new guidelines that will take effect on 1 October 2026, requiring all scheduled commercial banks to apply a uniform interest rate to deposits of the same amount and tenure. Banks must publish the rate for each day on their websites by 10 a.m., and they may not discriminate between customers or branches. An exemption allows bulk deposits of ₹3 crore or more to be priced differently based on the bank’s liquidity‑coverage‑ratio and run‑off‑risk considerations.

In a separate weekly statistical supplement, the RBI said India’s foreign‑exchange reserves rose by $6.118 billion to $682.235 billion for the week ended 24 July 2026. The gold reserve increased by $1.308 billion to $103.058 billion, while foreign‑currency assets grew to $555.929 billion. The change reflects continued resilience of the external position despite recent geopolitical tensions that have pressured the rupee. RBI officials noted that the reserves provide a buffer for import payments and help stabilize the economy during external shocks.