RBI's new bulk FD rules take effect from October 1

The Reserve Bank of India's fresh regulations on bulk fixed deposits come into force from October 1. Under the new rules, banks are required to offer the same interest rate for similar bulk deposits that are accepted on the same day, regardless of the branch or customer.

The move aims to ensure uniform pricing and transparency in the bulk deposit market, preventing banks from offering different rates to different customers for similar tenures and amounts.